Group 1 - The Hang Seng Technology Index experienced a strong rise of 1.44% in early trading, with the Hang Seng Internet ETF increasing by 2.10% and a turnover rate exceeding 16% [1] - Active equity funds have increased their allocation to Hong Kong stocks to a historical peak, with healthcare and financial sectors being the main areas of increased investment, while tech giants like Tencent and Xiaomi remain top holdings [1] Group 2 - CITIC Securities anticipates that the mid-year earnings for Hong Kong stocks will be released in mid to late August 2025, with a significant increase in revenue growth expected for the Hang Seng Index compared to the previous year, although profit growth may moderate [2] - There is a positive trend in confidence for certain sectors such as new consumption, technology, and pharmaceuticals, with earnings expectations being revised upward ahead of earnings reports [2] - The technology sector's earnings expectations have seen slight downward adjustments mainly due to delivery subsidy disruptions, but other sub-sectors like new energy vehicles, semiconductors, and consumer electronics show a general upward revision in earnings expectations [2]

Group 1 - The Hang Seng Internet Technology Index rose by 2.64% on July 23, with the Hang Seng Internet ETF (159688) increasing by 2.76% and trading volume exceeding 150 million [1] - Major component stocks such as Yisou Technology, China Civil Aviation Information Network, Kuaishou-W, Baidu Group-SW, and Tencent Holdings saw significant gains, with Yisou Technology rising over 11% [1] - A global RWA data industry conference is scheduled for July 30 in Hong Kong, aimed at promoting the establishment of the "Hong Kong RWA Global Industry Alliance" and showcasing the latest experimental results in green finance and carbon credits [1] Group 2 - Southbound funds have been actively buying Hong Kong stocks, with net purchases reaching approximately 797.4 billion HKD this year, nearing last year's total of 808 billion HKD [2] - Southbound funds are becoming a key support force for the market, with a diversified allocation into information technology and communication services, while maintaining a core focus on financial stocks [2] - The outlook for the Hong Kong stock market remains positive, supported by the long-term undervaluation of the RMB and the appeal of Hong Kong stocks as core RMB assets [2] Group 3 - The initial DeepSeek market trend led to a revaluation of Chinese assets, which was interrupted by tariff disturbances in April, but since May, the revaluation has been driven by financial, consumer, and pharmaceutical sectors [3] - The Hang Seng Index has returned to 24,000 points, and while negative pressures are expected in the third quarter, recent marginal changes indicate that the pressure may be milder than anticipated [3] - The technology sector, comprising nearly one-third of the Hong Kong market, is highlighted as a key area for investors to focus on for potential revaluation opportunities [3]

今日早盘，香港恒生指数表现强势，截至10点2分，涨幅达0.33%，盘中创2022年2月10日以来新高；恒 生科技指数涨0.82%。美团涨超4%，京东集团涨逾2%，阿里巴巴涨超2%。相关ETF方面，恒生互联网 ETF（159688）上涨1.44%，换手率超8%。与此同时，恒生科技ETF指数基金（513580）上涨1.22%。 消息面上，据央视新闻，7月18日，市场监管总局约谈饿了么、美团、京东三家平台企业，要求相关平 台企业严格遵守《中华人民共和国电子商务法》《中华人民共和国反不正当竞争法》《中华人民共和国 食品安全法》等法律法规规定，严格落实主体责任，进一步规范促销行为，理性参与竞争，共同构建消 费者、商家、外卖骑手和平台企业等多方共赢的良好生态，促进餐饮服务行业规范健康持续发展。 此外，据每日经济新闻，英伟达创始人兼CEO黄仁勋近日表示，中国市场至关重要，培养了全球50%的 AI人才；中国在模型层和应用层的发展非常迅速，像DeepSeek、阿里巴巴、Kimi这些公司都做得非常 出色。 （本文机构观点来自持牌证券机构，不构成任何投资建议，亦不代表平台观点，请投资人独立判断和决 策。） 中信证券表示，港股24Y ...