Core Viewpoint - The Hong Kong stock market continues its strong performance, with the Hang Seng Index rising by 2.58%, driven by positive market sentiment and significant inflows into various ETFs managed by GF Fund [1]. Group 1: Market Performance - The Hong Kong stock market's strong performance is reflected in the gains of nine ETFs under GF Fund, with the Hong Kong Innovative Drug ETF (513120) rising over 4.26%, and several other ETFs, including the China Concept Internet ETF (159605) and the Hang Seng Technology ETF Leader (513380), also showing gains exceeding 3% [1]. - The AH premium index has dropped to around 125%, nearing historical lows, which is attributed to continuous inflows from southbound funds and the attractiveness of high-dividend assets in the Hong Kong market [1]. Group 2: Investment Strategies - Huatai Securities' Hong Kong stock strategy team recommends focusing on sectors with improving sentiment and low valuations, particularly emphasizing technology stocks [2]. - The team suggests increasing allocations to internet e-commerce leaders ahead of the mid-August reporting period for overseas Chinese stocks, particularly those with good valuation and improving sentiment [2]. Group 3: ETF Product Overview - GF Fund's range of nine Hong Kong ETFs covers key sectors such as technology, innovative drugs, non-bank financials, and new consumption, catering to investors' needs for capturing market trends [3]. - The Hong Kong Innovative Drug ETF (513120) is the largest in the market, with a scale exceeding 18 billion, and has delivered over 100% returns this year [2]. - The Hong Kong Non-Bank ETF (513750) has also seen significant inflows, with a scale surpassing 13.7 billion, allowing for efficient investment in quality non-bank assets [2].

证券之星消息，8月12日，恒生科技ETF龙头（513380）融资买入5438.0万元，融资偿还5329.13万元， 融资净买入108.87万元，融资余额7094.93万元，近3个交易日已连续净买入累计778.32万元，近20个交 易日中有11个交易日出现融资净买入。 | 交易日 | 融资净买入(元) | | 融资余额(元) | 占流通市值比 | | --- | --- | --- | --- | --- | | 2025-08-12 | | 108.87万 | 7094.93万 | | | 2025-08-11 | | 502.31万 | 6986.06万 | | | 2025-08-08 | | 167.13万 | 6483.75万 | | | 2025-08-07 | | -54.84万 | 6316.62万 | | | 2025-08-06 | | -346.55万 | 6371.45万 | | 小知识 融资融券：目前，个人投资者参与融资融券主要需要具备2个条件：1、从事证券交易至少6个月；2、账 户资产满足前20个交易日日均资产50万。融资融券标的：上交所将主板标的股票数量由现有的800只扩 大到10 ...

Core Viewpoint - The ETF market showed mixed performance at midday, with notable gains in certain technology-focused ETFs and declines in others, particularly in the financial and biotechnology sectors [1] Group 1: ETF Performance - The Hang Seng Internet Technology ETF (159202) led the gains with an increase of 3.16% [1] - The China Concept Internet ETF (159607) rose by 2.46% [1] - The Hang Seng Technology ETF (513380) increased by 2.44% [1] - The Guotou Financial Real Estate ETF (159933) experienced the largest decline, falling by 2.6% [1] - The S&P Biotechnology ETF (159502) decreased by 2.23% [1] - The 800 Enhanced ETF (159517) dropped by 2.01% [1]

Group 1 - During the "May Day" holiday, Chinese assets experienced significant gains, with the Hang Seng Index rising by 1.74% and the Hang Seng Tech Index increasing by 3.08% as of May 2 [1] - The Hang Seng Tech Index has seen a two-week consecutive rise, with a total increase of 7.2% during this period [1] - The offshore RMB appreciated against the USD, rising by 687 basis points to 7.2011 [1] Group 2 - As of May 6, 2025, the Hang Seng Tech Index (HSTECH) showed a slight decline of 0.01%, with mixed performance among constituent stocks [1] - Meituan-W (03690) led the gains with an increase of 4.08%, while NIO-SW (09866) was the biggest loser [1] - The Hang Seng Tech ETF (513380) saw a 3.01% increase, with trading volume reaching 3.54 billion and a turnover rate of 7.07% [1] Group 3 - The Hang Seng Tech ETF's latest price-to-earnings ratio (PE-TTM) is 21.06, indicating it is at a historical low compared to the past year [2] - The Hong Kong dollar has been strengthening, nearing the 7.75 peg limit, prompting interventions from the Hong Kong Monetary Authority [2] - There is a notable trend of capital flowing into Hong Kong's tech and internet sectors amid ongoing adjustments in the real estate market [2] Group 4 - Despite recent gains, the valuation advantage of Hong Kong tech stocks remains, with potential catalysts in the tech sector and policy signals from the Two Sessions [2] - The Hang Seng Tech ETF covers top-quality tech leaders in Hong Kong, focusing on companies highly related to technology themes [2]

2 6 日 A 股 行 情 震 荡 走 强 ， 截 至 午 盘 ， 上 证 指 数 涨 0 . 5% ， 深 证 成 指 涨 0 . 2 4% ， 创 业 板 指 涨 0 . 2 6%；北证5 0涨2 . 1 9%。 港股市场整体高开高走，恒生指数大涨逾2%，恒生科技指数盘中更是一度涨超3%。伊登软件 最高一度飙升逾5 4%，京东集团涨近8%，创4个月来新高，阿里巴巴、腾讯控股、百度集团等 纷纷高开走强。 机器人概念股持续爆发 人形机器人概念继续走强，板块指数盘中放量大涨逾4%，再创历史新高，仅2月以来9次刷新 纪录。 截至午盘收盘，中大力德、兆威机电、五洲新春、富佳股份等多股涨停并续创历史新高，力 星股份、万马股份、中鼎股份等十余股涨停。 作 者丨万倩倩 尹华禄 杨坪 编 辑丨朱益民 江佩佩 | 序号 代码 | | 名称 | 涨跌幅▽ 5分钟涨跌幅 | | 成交额 | 5日涨跌幅 | 年初至今 | | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 8841635 | 減速器指数 | 5.21% | -0.03% | 227亿 | 11.41% | ...