2月27日，昨日高开低走的港股三大指数高开反弹，恒指涨0.25%，国指涨0.04%，恒生科技指数涨 0.15%。大型科技股涨跌不一，生物医药股集体上涨，创新药概念方向领衔，汽车股、钢铁股、黄金股 多数上涨。连续调整的港股科技股今日早盘有所反弹，商汤-W涨超4%，腾讯控股涨近1.5%，中芯国 际、阿里巴巴-W等主要科技股悉数上涨。港股通互联网ETF基金（520910）现小幅微涨。截至2月26 日，港股通互联网ETF基金（520910）规模达6.64亿元，港股通互联网ETF基金（520910）近5个交易日 获资金净流入，累计"吸金"达3250万元。 公开资料显示，港股通互联网ETF基金（520910）跟踪中证港股通互联网指数，精准覆盖电商平台、内 容生态、社交媒体及软件服务等核心互联网领域，AI应用占比较高，与AI驱动互联网商业模式升级的 产业深化路径相契合，成分股中涵盖有望在后续AI加速渗透中持续受益的阿里巴巴、腾讯控股、美 团、快手等港股互联网龙头。 针对此轮港股回调，市场人士分析指出，背后主要推手是一种被称为"HALO交易"的配置策略——随着 人工智能技术加速迭代，市场正从过去追逐"可扩张的轻资产叙事"转向 ...

Group 1 - The Hang Seng Index opened up 0.58% and the Hang Seng Tech Index rose by 0.86%, indicating a positive market sentiment in the early trading session [1] - The Hong Kong Stock Connect Internet ETF (520910) experienced slight fluctuations, currently up nearly 0.5%, with a mixed performance among its holdings [1] - Major gainers included companies like Beike, Cao Cao Travel, Xindong Company, and Meitu, while losers included SenseTime and Tongcheng Travel [1] Group 2 - Galaxy Securities stated that the tech sector in Hong Kong remains a long-term investment focus, with reduced valuation pressure following recent corrections, and expects a rebound driven by accelerated AI model updates and applications [1] - The report highlighted that geopolitical risks in the Middle East and adjustments in U.S. tariff policies are increasing risk aversion, which may lead to a rise in precious metals and energy sectors [1] - The consumer sector is currently undervalued, and with increased consumer promotion policies, there is potential for growth in this area [1] Group 3 - CICC pointed out that the recent pullback in the Hong Kong market is due to three pressures: hawkish expectations from the Federal Reserve, doubts about AI capital expenditure returns, and weak manufacturing PMI [1] - There is potential for upward correction in the short term, but the mid-term index space is limited, with opportunities in essential retail and tech hardware sectors [1] Group 4 - The Hong Kong Stock Connect Internet ETF (520910) tracks the CSI Hong Kong Stock Connect Internet Index, covering key internet sectors such as e-commerce, content ecosystems, social media, and software services, with a high proportion of AI applications [2] - The ETF includes major Hong Kong internet leaders like Alibaba, Tencent, Meituan, and Kuaishou, which are expected to benefit from the accelerated penetration of AI [2]

截至2月25日午间收盘，恒生指数涨0.75%，恒生科技指数涨0.34%，国企指数涨0.90%。盘面上，科网 股涨多跌少，内房股普涨，有色金属板块走强，航运股多数走强。热门ETF方面，港股通互联网ETF基 金（520910）午盘窄幅震荡，现小幅微涨。截至2月24日，港股通互联网ETF基金（520910）规模达 6.79亿元，港股通互联网ETF基金（520910）连续2个交易日获资金净流入，累计"吸金"达2647万元，备 受资金青睐。 春节以来，港股科技受多方因素影响呈震荡波动态势，引发了市场热议。一方面，市场担忧新任美联储 负责人可能采取鹰派政策，冲击全球风险偏好，或对港股科技板块形成一定冲击；另一方面，港股互联 网龙头持续抢滩AI应用流量入口，推动国内各AI应用月活跃用户（MAU）实现跨越式增长，有望提升 港股科技板块长期价值，吸引资金逆势布局。 消息面上，地方两会已明确释放政策信号，多地将"人工智能+"、平台经济、新质生产力写入政府工作 报告，明确支持科技企业创新发展；港交所2025年推出的"科企专线"，允许特专科技公司以保密形式递 交上市申请，简化上市流程，将吸引更多优质科技企业赴港上市，进一步提升板块活 ...

Group 1 - The core viewpoint of the articles highlights the rapid advancement and adoption of AI applications during the Spring Festival, with significant user engagement and the emergence of humanoid robots in entertainment, indicating a shift towards practical applications of AI technology [1] - Major AI companies are intensifying their investments, with OpenAI planning to spend approximately $600 billion on computing power by 2030 and seeking over $100 billion in new financing, while domestic leaders are also entering a phase of large-scale investment in computing power [1] - The Hong Kong stock market's technology sector is identified as a strategic configuration area with high win rates and high returns, characterized by oversold valuations, counter-cyclical capital inflows, and an upward trend in fundamentals, presenting a "golden layout window" for medium to long-term strategic investments [1] Group 2 - The Hong Kong Stock Connect Internet ETF fund (520910) tracks the CSI Hong Kong Stock Connect Internet Index, covering key internet sectors such as e-commerce, content ecosystems, social media, and software services, with a high proportion of AI applications [2] - The fund includes major Hong Kong internet leaders like Alibaba, Tencent, Meituan, and Kuaishou, which are expected to benefit from the accelerated penetration of AI in their business models [2]

Group 1 - The Hang Seng Index fell by 1.93% and the Hang Seng Tech Index dropped by 2.36% as of the midday close on February 24, with major tech stocks like Meituan down nearly 5%, Baidu and Tencent down over 3%, and Alibaba down nearly 3% [1] - The Hong Kong tech sector has been experiencing volatility since the Spring Festival due to multiple factors, including concerns over potential hawkish policies from the new Federal Reserve head, which may impact global risk appetite and the Hong Kong tech sector [1] - Despite the current downturn, there is optimism for the long-term value of the Hong Kong tech sector, driven by the growth in monthly active users (MAU) for AI applications, as leading internet companies are aggressively entering the AI application market [1] Group 2 - According to China Merchants Securities, the fundamental outlook and bullish logic for the Hong Kong tech sector remain unchanged, with liquidity shocks having peaked and suggesting that buying on dips may be an effective strategy [2] - The valuation of the Hong Kong tech sector is at a historically high discount compared to the A-share tech sector, indicating potential for a rebound [2] - The ongoing development of large AI models and the emphasis on technological advancement in the context of national strategy highlight the investment value of the Hong Kong tech sector [2]

Group 1 - The core competition among tech giants is intensifying as they prepare for the 2026 Spring Festival, with Tencent's Yuanbao App launching a 1 billion yuan red envelope campaign [1] - Yuanbao has surpassed ByteDance's Doubao to become the top free app in the Apple Store, indicating a strategic positioning battle centered around AI as the next generation of traffic super entry [1] - The transition of large models from "content generation" to "process agency" is accelerating, driven by the resonance of AI application implementation and policy support [1] Group 2 - The Hong Kong Stock Connect Internet ETF (520910) has been launched, tracking the CSI Hong Kong Stock Connect Internet Index, focusing on leading internet companies in Hong Kong [2] - The ETF includes major players like Alibaba, Tencent, Xiaomi, Meituan, and Kuaishou, which are expected to benefit from the accelerated penetration of AI [2] - As of the report, the ETF's trading volume approached 8 million yuan, with companies like Xindong, Siteng Holdings, Kingsoft Cloud, and Dongfang Zhenxuan leading in gains [2]