港股通恒生科技ETF（520840）业绩比较基准为恒生港股通科技主题指数收益率(经汇率调整)，管理人 为华安基金管理有限公司，基金经理为王超，成立（2025-08-14）以来回报为-0.82%，近一个月回报 为-1.47%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 来源：新浪基金∞工作室 11月17日，港股通恒生科技ETF（520840）跌1.29%，成交额1.23亿元。当日份额增加3350.00万份，最 新份额为10.56亿份，近20个交易日份额增加8850.00万份。最新资产净值计算值为10.47亿元。 ...

风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 10月23日，港股通恒生科技ETF（520840）涨0.67%，成交额1.19亿元。当日份额增加100.00万份，最新 份额为9.75亿份，近20个交易日份额减少50.00万份。最新资产净值计算值为10.15亿元。 港股通恒生科技ETF（520840）业绩比较基准为恒生港股通科技主题指数收益率(经汇率调整)，管理人 为华安基金管理有限公司，基金经理为王超，成立（2025-08-14）以来回报为4.15%，近一个月回报 为-4.39%。 来源：新浪基金∞工作室 ...

港股通恒生科技ETF（520840）业绩比较基准为恒生港股通科技主题指数收益率(经汇率调整)，管理人 为华安基金管理有限公司，基金经理为王超，成立（2025-08-14）以来回报为10.40%，近一个月回报为 9.59%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 来源：新浪基金∞工作室 9月22日，港股通恒生科技ETF（520840）涨0.73%，成交额1.05亿元。当日份额减少250.00万份，最新 份额为9.70亿份，近20个交易日份额减少1.89亿份。最新资产净值计算值为10.70亿元。 ...

港股通恒生科技ETF（520840）业绩比较基准为恒生港股通科技主题指数收益率(经汇率调整)，管理人 为华安基金管理有限公司，基金经理为王超，成立（2025-08-14）以来回报为9.68%，近一个月回报为 9.77%。 来源：新浪基金∞工作室 9月18日，港股通恒生科技ETF（520840）跌1.36%，成交额2.53亿元。当日份额减少300.00万份，最新 份额为9.72亿份。最新资产净值计算值为10.66亿元。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 ...

Core Viewpoint - The Federal Reserve has lowered interest rates by 25 basis points, indicating a focus on protecting employment despite rising inflation concerns [1][2][3] Monetary Policy Decision - The Federal Reserve's decision to cut rates to a range of 4.0%-4.25% reflects a balance towards employment protection, with a forecast of two more rate cuts within the year [1][2] - The voting on this decision saw only one dissenting vote, advocating for a larger cut of 50 basis points [2] Economic Outlook - The Federal Reserve anticipates that the current rate cut will effectively boost economic growth and employment, suggesting a limited scope for future "preventive rate cuts" [3] - GDP forecasts for 2025-2027 have been revised upwards, while unemployment rate predictions for 2026 and 2027 have been adjusted downwards by 0.1% [4][5] - Inflation predictions remain largely unchanged, with only a slight upward revision of 0.2% for the PCE in 2026 [6] Chairman Powell's Remarks - Chairman Powell characterized the rate cut as a "risk management" decision, emphasizing that future cuts will depend on upcoming economic data [7] - He noted that while the unemployment rate is still low, it has begun to rise, and job growth is slowing, attributing some of this to immigration policies [7] - Powell also mentioned that the impact of tariffs on inflation is diminishing, and service inflation is easing, reducing the risk of sustained high inflation [7] Market Expectations - The dot plot indicates two more rate cuts this year, with only one additional cut expected in 2026 [8] - Market expectations align with the Fed's guidance, anticipating a total of 125 basis points in cuts over the next two years [10] Asset Allocation Recommendations - Investment in gold ETFs is suggested as a favorable option due to the low opportunity cost of holding gold in a declining interest rate environment [12][14] - The Hong Kong stock market, particularly technology stocks, is expected to benefit from overseas rate cuts, attracting both domestic and foreign capital [17][19] - The ChiNext 50 ETF is highlighted for its potential due to a favorable funding environment and strong fundamentals, with a projected net profit growth of 13.88% year-on-year in Q2 2025 [20][22][23] - The Hong Kong Central Enterprises Dividend ETF is noted for its high dividend yield of 5.9% in a low-interest-rate environment [24][26]

Group 1: Market Fundamentals - The Hong Kong stock market is significantly influenced by the economic fluctuations in mainland China, with mainland enterprises accounting for 75% of the total market capitalization on the Hong Kong Stock Exchange [1] - Current domestic policies are focused on counter-cyclical adjustments, with expectations for increased monetary and fiscal measures to stimulate economic growth and domestic demand [1] - The emphasis on fiscal policy as a tool for stabilizing economic growth and expanding domestic demand indicates a broad space for fiscal expansion, including subsidies and tax reductions to boost consumption [1] Group 2: AI Technology Development - The rapid development of AI technology is driving performance growth in Hong Kong's tech stocks, with the AI industry in China expected to exceed 1 trillion yuan by 2029, growing at an annual rate of 32.1% [2] - Hong Kong's stock market offers a unique platform for investors to capitalize on AI opportunities, with AI-related stocks expected to account for over 30% of the Hang Seng Composite Index [2] - The Hong Kong market encompasses a full industry chain for AI, covering hardware, technology, and application layers, allowing for comprehensive investment in AI's upstream and downstream [2] Group 3: Performance of Tech Giants - Hong Kong's tech giants are showing strong growth in the commercialization of AI technology, with the Hang Seng Tech Index constituents experiencing significant profit growth, outperforming the overall Hong Kong market [3] - In 2024, the cumulative year-on-year growth of net profit for Hong Kong companies is projected at 11.1%, contrasting with a decline of 2.5% in A-share companies [3] - The regulatory environment in China is shifting towards promoting the sustainable development of platform economies, creating greater growth opportunities for related enterprises [3] Group 4: Investment Opportunities - Selecting appropriate investment tools is crucial for capturing the benefits of AI technology development, with index investments being more stable and comprehensive compared to individual stock selection [4] - The Hong Kong Stock Connect Hang Seng Tech ETF (520840) closely tracks the Hang Seng Stock Connect Technology Theme Index, focusing on core technology sectors and excluding industries like pharmaceuticals and automobiles [4] - The top ten constituents of the ETF include leading Chinese tech companies, collectively accounting for 73.24% of the weight, with significant involvement in the AI industry across various levels [4] Group 5: Future Outlook - The Hong Kong stock market is entering an investment opportunity period driven by fundamentals, supported by positive macro policies that enhance the profitability of listed companies [6] - The intersection of macroeconomic recovery and technological growth highlights the investment value of the Hang Seng Stock Connect Technology Index [6] - For investors looking towards the future, the current environment presents a favorable opportunity to capture robust fundamentals and growth prospects in the market [6]

来源：新浪基金∞工作室 8月26日，港股通恒生科技ETF（520840）跌0.77%，成交额1.23亿元。当日份额减少1900.00万份，最新 份额为11.39亿份。最新资产净值计算值为11.64亿元。 港股通恒生科技ETF（520840）业绩比较基准为恒生港股通科技主题指数收益率(经汇率调整)，管理人 为华安基金管理有限公司，基金经理为王超，成立（2025-08-14）以来回报为2.22%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 ...

Group 1 - The core viewpoint highlights the significant increase in interest and investment in the Hong Kong technology sector, marked by a record net inflow of 35.876 billion HKD from southbound funds on August 15, 2023, indicating strong demand for technology stocks [1] - The technology sector's robust performance is driven by a dual push from policy and industry, with a comprehensive support system for technology finance being established, including customized insurance services and enhanced financing rules for tech companies [2] - The Hong Kong technology sector is experiencing a "valuation recovery + performance realization" opportunity, with leading companies benefiting from competitive advantages and a significant decrease in market congestion, leading to improved profitability [3] Group 2 - The Hang Seng Technology Index has shown remarkable performance, with a 57.26% increase over the past year, significantly outperforming both the Hang Seng Index and the Hang Seng Technology Index [4] - The current environment presents a favorable opportunity for investment in the Hong Kong technology sector, characterized by policy support, accelerated industry breakthroughs, continuous capital inflow, and dual recovery in valuation and profitability [5]