有机构表示，伴随宏观预期边际改善与政策利好共振，港股权益市场风险偏好持续抬升，其中互联网板块情绪有望迎 来系统性修复。在美联储降息预期等多重因素助力下，美元指数有进一步下行空间，意味着全球金融条件改善。在此 基础上，亚洲货币尤其是人民币有进一步升值的空间，提高了港股市场对外资的吸引力。 每日经济新闻 港股互联网概念股走强，哔哩哔哩-W涨超5%，小米集团-W、美图公司涨超4%，阿里健康、快手-W涨超3%。 受盘面影响，港股互联网相关ETF涨超2%。 | 代码 | 名称 | 现价 | | 涨跌 涨跌幅 ▼ | | --- | --- | --- | --- | --- | | 520650 | 港股通互联网ETF南方 0.959 | | 0.026 | 2.79% | | 513770 | 港股互联网ETF | 0.567 | 0.014 | 2.53% | | 159792 | 港股通互联网ETF | 0.923 | 0.021 | 2.33% | | 513040 | 港股通互联网ETF | 1.503 | 0.033 | 2.24% | | 159568 | 港股互联网ETF | 1.811 | 0.038 ...

>>>>> ELL首知道 >>>>>> EIF早知道 ETF早知道 u WP wabao (43) >>>> -10-11-2 2025 知 Nov ETFE知道 25 ETF로规道 <<<< 市场温度计 >>>>> 中长期信号 · 投资看温度 ETFE 刷 -- 75% + 75% -- + 75% .- 2596 -- 2596 -- 2596 ETFEFRE 0.05% 0.37% 0.31% ← T T <<<< 上证指数 深证成指 创业板指 注:温度计水银条由对应指数的近十年市盈手分位数表示,总值为100%。数据来源:iFind,截至 2025.11.24,上证指数、深证成溶、创业板指的近十年市盈丰分位数分别为88.44%、71.66%。 31.43% ETFOH B e 0 14 6 能力热力 ETFE无测 <<<< 短期轮动走向 · 观九宫热力值 +4.31% +2.41% +3.49% 国防军工 传媒 计简机 ETFEE -0.56% +2.22% +2.07% 社会服务 食品饮料 综合 -0.79% -1.09% -1.21% 银行 煤炭 石油石化 ETFERS 数据来源:iFind,截至2 ...

Group 1 - The Hong Kong stock market has shown strong performance in the technology sector, with significant inflows from southbound funds, indicating a strong willingness to increase positions in Hong Kong tech stocks [2][3] - Major tech companies in Hong Kong are entering their earnings season, with Alibaba, Meituan, Li Auto, and NIO set to release their financial results, while previously reported earnings from Tencent, Bilibili, and Xiaomi have shown impressive revenue and net profit [2] - The current valuation of leading Hong Kong tech companies is considered reasonable, with increased dividends and buybacks, as they are well-positioned to capitalize on AI advancements [2][3] Group 2 - The CSI Hong Kong Internet Index has seen a strong increase of 1.98%, with notable gains from Alibaba-W (up 4.61%) and Kuaishou-W (up 4.45%), reflecting a positive market sentiment [1] - The Hong Kong Internet ETF has experienced a significant increase in trading volume, with a turnover of 21.57% and a total transaction value of 82.66 million HKD, indicating active market participation [1] - The Hang Seng Technology Index also rose by 1.79%, with key stocks like NetEase-S and Alibaba-W contributing to the upward trend, while the Hang Seng Technology ETF has shown a 7.41% increase over the past six months [1][2] Group 3 - The Hong Kong stock market serves as a unique bridge connecting Chinese innovation with global capital, featuring a number of platform-based tech giants and leaders in hard technology that are deeply embedded in the global supply chain [3] - The recent adjustments in the tech sector are primarily influenced by the pullback of US AI leaders and a shift in institutional strategies towards defensive positions as year-end approaches [2][3] - The current phase of AI development in the Hong Kong market corresponds to the hardware-to-application transition seen in the US market, suggesting that the tech rally is far from over [2] Group 4 - The Hong Kong Internet ETF has seen a notable increase in scale, growing by 6.83 million HKD over the past week, indicating strong investor interest [4] - The latest share count for the Hong Kong Internet ETF reached 220 million, marking a six-month high, with a net inflow of 10.35 million HKD recently [5] - The CSI Hong Kong Internet Index comprises 30 companies involved in internet-related businesses, with the top ten stocks accounting for 72.48% of the index [5]

港股互联网ETF（513770）最新规模超109亿元，年内日均成交额超6亿元，支持日内T+0交易，不受 QDII额度限制，流动性佳！ 看好港股科技但又希望降低波动？也可以关注全市场首只——香港大盘30ETF（520560），自带"科技 +红利"哑铃策略，重仓股既有阿里巴巴、腾讯控股等高弹性科技股，又囊括了建设银行、中国平安等 稳健高股息，是港股长期配置的理想底仓工具。 11月24日，港股早盘高开，科网龙头有所回暖，截至发稿，快手-W涨超2%，腾讯控股、小米集团-W、 阿里巴巴-W涨逾1%，美团-W跟涨。重仓互联网龙头的港股互联网ETF（513770）红盘震荡，场内价格 现涨0.37%，盘中持续宽幅溢价，实时溢价率超0.3%，显示买盘资金积极介入。 上交所数据显示，港股互联网ETF（513770）上周5日连续吸金，合计获资金净流入7114万元，近20日 累计吸金超10亿元。 | 分时 · | | | | F9 盘前盘后 叠加 九枝 面线 工具 @ 2 > | | | | | 港股互联网ETF ① | | | | --- | --- | --- | --- | --- | --- | --- | --- | -- ...

>>>>> ETF早知道 >>>>> ETF早知道 FF早知道 <<<< >>>>> FEFR 2025 国际早知道 Nov ETFEFR海 <<<< 市场温度计 >>>>> 中长期信号 · 投资看温度 ETFEFA --- 75% + 75% --- 75% -- + 25% -- + 25% -- + 25% ETF 早知道 -4.02% -2.45% -3.41% > > <<<< 上证指数 深证成指 创业板指 注:温度计水银条由对应指数的近十年市盈率分位数表示,总值为100%。数据来源:iFind,截至 2025.11.21，上证指数、深证成指、创业板指的近十年市盈率分位数分别为94.61%、77.57%、35.6% e 0 2 ETFEF 6 板块热力图 ETFEFRE <<<< 短期轮动走向·观九宫热力值 0.32% -0.40% -0.88% 食品饮料 REEE l = ETFOF B -1.00% -1.62% -4.70% 农林牧渔 银行 基础化工 -5.17% -5.26% -5.50% 综合 电力设备 有色金属 数据来源:iFind,截至2025.11.21,以申万一级行业区分,分别列出 ...

Core Viewpoint - Hong Kong stocks continued to decline, with the Hang Seng Index and Hang Seng Tech Index dropping by 2.38% and 3.21% respectively, influenced by overnight movements in US stocks. However, the Hong Kong Internet ETF (513770) showed signs of stabilization, recovering from earlier losses and closing down only 0.92% after a significant drop of over 2% in the morning session [1][4]. Market Performance - The Hong Kong Internet ETF (513770) experienced a net inflow of 54.14 million CNY over the past five days, with a total of 4.271 billion CNY accumulated over the last 60 days, indicating strong buying interest despite recent declines [2][6]. - The ETF has seen a significant drop over five consecutive days, yet investors have been increasingly buying into the fund, demonstrating confidence in the sector [2][6]. Sector Analysis - The performance of tech giants in the Hong Kong market was mixed, with Xiaomi Group-W rising by nearly 3% at one point, while other major players like Kuaishou-W, Tencent Holdings, and Alibaba-W saw declines of over 1% to 4% [4][6]. - The market's overall weakness was attributed to the lack of clear signals regarding interest rates from the latest US non-farm payroll data, alongside ongoing concerns about the high valuations of AI stocks [4][6]. Valuation Insights - The current price-to-earnings (PE) ratio of the CSI Hong Kong Internet Index stands at 22.47, which is significantly lower than the NASDAQ 100 (34.42) and the ChiNext Index (39.2), indicating a historical low valuation compared to the past decade [4][5]. - According to招商证券, the valuation of the Hong Kong tech sector remains at historically low levels, suggesting substantial room for valuation recovery [5][6]. Future Outlook - Analysts from 中信证券 predict that the Hong Kong market will experience a second round of valuation recovery and performance resurgence by 2026, driven by a rebound in fundamentals and significant valuation discounts [6]. - 广发证券 believes that the foundation for a bull market in Hong Kong remains intact, with a potential for a "volatile upward trend" as liquidity improves, which could attract funds into core assets in the internet sector [6][7]. ETF Composition - The Hong Kong Internet ETF (513770) has a total scale exceeding 11.2 billion CNY, with an average daily trading volume of over 600 million CNY, indicating good liquidity [7]. - The ETF tracks the CSI Hong Kong Internet Index, which is heavily weighted towards major internet companies, with Alibaba-W, Tencent Holdings, and Xiaomi Group-W comprising the top three holdings, accounting for 18.89%, 17.01%, and 10.05% of the index respectively [6][7].

Group 1 - Hong Kong stocks opened lower and continued to decline, with the Hang Seng Index and Hang Seng Tech Index falling by 2.38% and 3.21% respectively [1] - The Hong Kong Internet ETF (513770) showed resilience, recovering from early losses and closing down only 0.92% after hitting a low of over 2% [1] - The Hong Kong Internet ETF has seen a net inflow of 54.14 million CNY over the past five days, totaling 4.271 billion CNY in the last 60 days [2][4] Group 2 - Major tech stocks exhibited mixed performance, with Xiaomi Group-W rising nearly 3% at one point, while Tencent Holdings and Kuaishou fell over 1% [4] - Concerns over high valuations in AI and unclear U.S. interest rate outlook contributed to increased market risk aversion [4] - The current price-to-earnings (PE) ratio of the CSI Hong Kong Internet Index is 22.47, significantly lower than the NASDAQ 100 (34.42) and ChiNext Index (39.2) [4][5] Group 3 - Analysts suggest that the Hong Kong tech sector remains undervalued compared to global indices, indicating potential for valuation recovery [5][6] - The core businesses of leading internet companies continue to show strong performance, with AI expected to enhance revenue generation [6] - The Hong Kong Internet ETF (513770) has a market size exceeding 11.2 billion CNY, with an average daily trading volume of over 600 million CNY [7]

Core Insights - The domestic ETF market in China has experienced rapid growth, with total assets exceeding 5.8 trillion yuan as of November 12, 2025, an increase of over 2 trillion yuan from the end of 2024 [1] - Stock ETFs have seen a nearly 30% growth in the first three quarters of 2025, reaching 3.71 trillion yuan [1] - Huabao Fund has shown outstanding performance in the equity ETF category, with assets reaching 131.49 billion yuan, a 60.80% increase from the end of 2024 [1] ETF Market Growth - The total scale of domestic ETFs has surpassed 5.8 trillion yuan, marking significant growth in the market [1] - Stock ETFs have grown by nearly 30% in 2025, indicating strong investor interest [1] Huabao Fund's Performance - Huabao Fund's equity ETFs reached a historical high of 131.49 billion yuan, reflecting a 60.80% increase from 2024 [1] - The fund has innovatively expanded into Hong Kong stock ETFs, offering unique products that support T+0 trading and feature a diverse range of industry themes [1][3] Innovative Product Offerings - Huabao Fund has launched several unique ETFs, including the Hong Kong Information Technology ETF, which is the first to track the CSI Hong Kong Stock Connect Information Technology Composite Index [1][5] - The fund's product line includes various thematic ETFs, such as those focusing on innovation in pharmaceuticals and the internet, showcasing a comprehensive market approach [3][6] Performance of Thematic Indices - The Hong Kong Information Technology Index has outperformed other major technology indices in recent years, with a cumulative increase of 89.6% from December 30, 2022, to October 31, 2025 [2] - The index's annualized return stands at 25.71%, indicating strong performance relative to peers [2] AI and Technology Focus - Huabao Fund has developed an ETF matrix covering the AI industry chain, including products focused on computing power, large models, and applications [5][6] - The newly launched Hong Kong Automotive 50 ETF targets leading automotive companies, enhancing investment opportunities in the AI application sector [6][7] Dividend Strategy Development - Huabao Fund has established a robust high-dividend ETF family, including the Hong Kong Dividend ETF, which has attracted significant market interest and net inflows [8][9] - The Hong Kong Dividend ETF has shown a 24.12% increase since its inception, outperforming the CSI 300 Index during the same period [8][9] Trading Efficiency - Many of Huabao's Hong Kong ETFs support T+0 trading, enhancing liquidity and investment efficiency, particularly in cross-border and thematic products [12] - The overall performance of the Hong Kong stock market has been favorable, with the Hang Seng Index ranking third globally in terms of growth [12][13] Foreign Investment Trends - There has been a significant inflow of foreign capital into the Hong Kong market, with net purchases exceeding 1.26 trillion yuan this year, indicating a growing demand for Hong Kong stocks [14] - The trend reflects a broader shift in global asset allocation strategies, with increased interest in Chinese technology innovation [14]

Group 1 - The technology sector is currently under pressure, with potential index-level investment opportunities expected to emerge gradually by the end of November [1] - The recent technology sector rally began around September 10, with low-positioned sectors including fintech, edge AI, robotics, and low-altitude economy, while high-positioned sectors include optical modules, storage, and new energy [3] - High-positioned sectors are experiencing increased volatility as funds concentrate on a few leading stocks, indicating a need for caution regarding short-term adjustment risks [3] Group 2 - Potential opportunities in low-positioned sectors include robotics and Robotaxi, with companies like XPeng expected to transition to a robotics valuation model by 2026-2027 [4] - The fintech sector is anticipated to see new developments in Q1 of next year, despite short-term policy impacts [5] - Edge AI is expected to gain momentum starting in 2026 with OpenAI's developments, although it may still require time to stabilize [6] Group 3 - The low-altitude economy sector is currently under adjustment, with no clear catalysts observed, necessitating ongoing attention to policy and technological advancements [7] - The Hong Kong stock market is facing liquidity pressure due to a high number of IPOs, with expectations leaning towards a phase of catch-up [8] - The AI computing sector remains robust, with cloud vendors likely to meet financing needs in the first year, while optical modules are still considered quality assets [11]

今日（11月10日）沪指放量上涨0.53%重返4000点，科技成长方向相对表现较弱，创业板指收跌 0.92%，沪深两市全天成交额2.17万亿元，环比放量1754万元。 盘面上，大消费概念全线爆发，"茅五泸汾洋"白酒集体猛攻，食品ETF（515710）场内价格猛拉 3.64%，收盘涨幅霸居全市场ETF第八；养老ETF（516560）场内价格拉升2.54%，此前5日连续获资金 净流入；消费龙头ETF（516130）场内价格劲涨2.14%，一举收复5日、10日、20日、60日四根均线。 历史重演？今年年初，DeepSeek-R1模型横空出世，低成本实现前沿模型效果，引发市场对算力投资的 担忧，当时AI算力板块集体下跌，延迟于事件催化，后市迎来了一波科技拉动的上涨行情。如今，月 之暗面宣布发布Kimi K2 Thinking开源思考模型，AI算力再度调整，或为逢跌布局机会，"AI双子 星"——创业板人工智能ETF（159363）、科创人工智能ETF（589520）场内价格分别收跌0.46%、 1.19%。 | 序号 代码 | | 名称 | 涨跌幅▼ | | --- | --- | --- | --- | | 1 | ...