来源：小白读财经 2025年，A股拿出的"成绩单"还不错，上证指数久违的站上了4000点，总市值历史性突破百万亿大关， 走出一轮"慢牛"行情。港股这边，恒生指数年内涨超28%（截至2025.12.29），行情一路在波折中前 进，一季度大涨—二季度调整—7~10月再上涨—年末又重回震荡，这也令不少投资者心生疑虑：眼前 的震荡，究竟是行情的结束，还是新一轮布局的起点？ 在这个背景下，包括瑞银、渣打、汇丰、国信证券等知名机构的观点值得关注，他们并未因港股短期的 波动而转向悲观，反而基于更长视角预测，恒生指数有望在2026年突破30000点关口。 在市场情绪略显谨慎的当下，支撑这些乐观预测的背后，是哪些因素在起关键作用呢？ 1．为什么2026年的港股可以乐观看待？ 如果我们把视线从市场的短期波动中移开，聚焦港股市场的深层结构与长期动力，会发现支撑2026年港 股向上的力量依然没有减弱。 首先，港股拥有A股没有的稀缺资产包，尤其是科技、生物医药、新经济、互联网等领域的龙头公司， 投资者想更充分的分享中国产业升级与"新质生产力"发展的红利，自然绕不开港股这个市场。 其次，在内外合力下，港股流动性持续改善。对内，今年南向资 ...

Core Viewpoint - The Hong Kong semiconductor market is experiencing a significant surge, with the first ETF focused on the Hong Kong semiconductor industry showing strong performance, particularly in the technology sector [1][2]. Group 1: ETF Performance - The Hong Kong Information Technology ETF (159131) has seen an increase of over 2% during trading, with notable gains in constituent stocks such as Lens Technology, which rose over 6%, and SMIC and Huahong Semiconductor, both increasing over 5% [1][2]. - The ETF is the first in the market to track the Hong Kong Stock Connect Information C index, supporting T+0 trading, making it a unique investment vehicle for the semiconductor industry [2][3]. Group 2: ETF Composition - The ETF's index is composed of 70% hardware and 30% software, focusing on semiconductor, electronics, and computer software sectors, including 41 Hong Kong hard-tech companies [3][4]. - Major holdings include SMIC with a weight of 19%, Xiaomi Group at 10.28%, and Huahong Semiconductor at 5.11%, excluding large-cap internet companies like Alibaba and Tencent, thus providing a sharper focus on AI hard-tech trends [3][4]. Group 3: Index Characteristics - The index has a single sample weight cap of 15%, with adjustments made every six months based on market fluctuations, which may lead to individual stock weights exceeding this limit [5].