Group 1 - Hong Kong stock indices collectively declined on September 26, with the automotive and parts sector showing sustained growth, particularly Xpeng Motors which saw a rise of over 6% at one point [1] - The Hang Seng Technology Index ETF (513180) experienced an expanded decline, with most constituent stocks falling, including Horizon Robotics, Xiaomi Group, Kingsoft, and Kingdee International, while Xpeng Motors, Hua Hong, and NIO led the gains [1] - Xpeng Motors announced its accelerated expansion into the European market, officially entering Switzerland, Austria, Hungary, Slovenia, and Croatia, with several popular new models showcased [1] Group 2 - At the Munich Auto Show, Xpeng showcased five new models including the new P7, 2025 versions of G6 and G9, X9, and P7+, along with advanced exhibits like humanoid robots and flying cars [2] - Xpeng's global localization production strategy is advancing, with the first locally produced X9 in Indonesia delivered in July, marking a significant step in its global production strategy [2] - The Alibaba 2025 Cloud Summit has sparked bullish sentiment, with expectations for the Hang Seng Technology Index to break upward again, supported by potential Fed interest rate cuts and continued inflow of southbound capital [2]

9月17日午后，港股三大指数集体上涨，恒生科技指数一度涨超4%。盘面上，科网股表现活跃，百度集 团涨超17%；汽车股普涨。主流ETF方面，港股通汽车ETF（159323）涨超1.5%；恒生科技指数ETF （513180）涨超3.5%，持仓股中，百度集团、商汤、蔚来、海尔智家、京东集团、中芯国际等领涨， 其中，蔚来一度涨超11%。 AI点燃看涨狂潮，恒生科技指数盘中突破6300点。展望后市，美联储降息或将重启，南向资金有望持 续呈现结构性流入，在内外资共振以及AI叙事回归的共同催化下，恒生科技估值重构可期。没有港股 通账户的投资者或可通过恒生科技指数ETF（513180）一键布局中国AI核心资产。 （文章来源：每日经济新闻） 消息面上，最新数据显示，8月份，社会消费品零售总额39668亿元，同比增长3.4%。其中，汽车消费 额4093亿元、同比增1%。8月汽车生产275万台，同比增11%；新能源汽车生产133万台，同比增23%， 渗透率48%；燃油车生产142万台，同比增1%。2025年1-8月汽车生产2083万台，同比增11%；新能源汽 车生产938万台，同比增31%，渗透率45%；燃油车生产1145万台，同 ...

Group 1 - The "Second Golden Unicorn Best Investment Advisor Selection" event is currently ongoing, with over 3,000 professional investment advisors participating in simulated trading competitions [1] - The event aims to provide a platform for investment advisors to showcase their capabilities, expand services, and enhance skills, thereby promoting the healthy development of China's wealth management industry [1] Group 2 - The top ten most frequently bought ETFs as of September 15 include Communication ETF, Broker ETF, and Sci-Tech Chip ETF, indicating strong interest in these sectors [2] - The top ten ETFs by purchase amount include the China Concept Internet ETF and Broker ETF, suggesting significant capital flow into these investment vehicles [3] Group 3 - The data for the top bought stocks/ETFs is based on the frequency of purchases by all participating advisors, while the purchase amount data reflects the total investment amounts in the top ten stocks/ETFs [4] - The competition includes categories for stock simulation, on-site ETF simulation, and public fund simulation, with specific trading rules regarding holding proportions, maximum drawdown, and rebalancing frequency [4]

该机构观点认为，对海外投资者来说，港股依然具有性价比。虽然恒生指数今年以来大涨30%引发广泛 关注，但事实上在美元贬值和油价下跌的金融条件宽松下，全球股市几乎都在上行。往后看，全球金融 流动性或继续趋于宽松，不仅仅因为美联储降息，还有全球财政货币的协同、美国金融去监管等，全球 资产受益，人民币相对美元还有补涨空间。港股作为中国离岸人民币资产同样受益于全球流动性充裕和 外资回流。从PB ROE框架下看，港股与全球其他资产比处于性价比中游水平，同样并未显著高估。 恒生科技指数站上6000点大关，突破前高在即。在南向资金持续不断流入、美国新一轮降息周期有望启 动的背景下，港股9月或迎内外资共振，而外部流动性敏感、此前受压制较多的恒生科技则有望迎来"补 涨"行情。此外，反内卷政策不断推进，叠加阿里巴巴财报超预期、AI大模型快速迭代，恒生科技有望 从"外卖内卷"回归AI叙事，估值重构可期，突破前高或许只是时间问题。没有港股通账户的投资者或可 通过恒生科技指数ETF（513180）一键布局中国AI核心资产。 （文章来源：每日经济新闻） 9月15日午后，港股三大指数持续上涨。盘面上，科网股涨多跌少，锂电池股延续热度，汽车股 ...

恒生科技指数站上6000点大关，突破前高在即。在南向资金持续不断流入、美国新一轮降息周期有望启 动的背景下，港股9月或迎内外资共振，而外部流动性敏感、此前受压制较多的恒生科技则有望迎来"补 涨"行情。此外，反内卷政策不断推进，叠加阿里巴巴财报超预期、AI大模型快速迭代，恒生科技有望 从"外卖内卷"回归AI叙事，估值重构可期，突破前高或许只是时间问题。没有港股通账户的投资者或可 通过恒生科技指数ETF（513180）一键布局中国AI核心资产。（场外联接A/C：013402/013403）。 每日经济新闻 9月15日早盘，港股三大指数集体上涨。盘面上，锂电池板块走强，新能源汽车股表现活跃。主流ETF 方面，恒生科技指数ETF（513180）一度涨超1.5%，持仓股中，哔哩哔哩、蔚来、华虹、理想汽车、比 亚迪股份、阿里巴巴等领涨；港股通汽车ETF（159323）一度涨超2%，持仓股中，浙江世宝、耐世 特、赣锋锂业等涨幅居前。 消息面上，北京时间9月18日凌晨，美联储将公布9月利率决议。华泰证券指出，当前市场已完全定价9 月降息，且2025年累计降息幅度接近3次，主要机构均预计2025年降息2-3次。市场分歧在于10 ...

国投证券认为，结合今年以来的A/H轮动上涨特征+9月大概率降息+互联网竞争边际影响趋缓，这或暗 示：此前提出的"港股科技会跟上来"的观点在9月会得到体现。从资金视角，近期南向资金加速流入， 今年净流入接近1万亿元，9月初南向资金在结构上仍以流入互联网（阿里、腾讯、美团等）和汽车（小 米集团、理想、比亚迪）为主；同时，大量资金通过恒生科技/恒生互联网ETF大幅净流入，7月至今累 计净流入达到476亿元。近期外资对于中国资产的关注度正在明确提升，从"不关注"到"关注"再到"加 仓"，以港股为代表中国资产会进一步得到外资的增持。 恒生科技指数站上6000点大关，突破前高在即。在南向资金持续不断流入、美国新一轮降息周期有望启 动的背景下，港股9月或迎内外资共振，而外部流动性敏感、此前受压制较多的恒生科技则有望迎来"补 涨"行情。此外，反内卷政策不断推进，叠加阿里巴巴财报超预期、AI大模型快速迭代，恒生科技有望 从"外卖内卷"回归AI叙事，估值重构可期，突破前高或许只是时间问题。没有港股通账户的投资者或可 通过恒生科技指数ETF（513180）一键布局中国AI核心资产。（场外联接A/C：013402/013403）。 ...

9月15日早盘，港股整体震荡上行，恒生科技指数盘中突破6000点。盘面上，锂电池板块走强，宁德时 代大涨，新能源汽车股表现活跃。主流ETF方面，恒生科技指数ETF（513180）跟随指数上涨，持仓股 蔚来、哔哩哔哩、比亚迪股份、阿里巴巴、理想汽车、华虹半导体等领涨；港股通汽车ETF（159323） 一度涨超2%，浙江世宝、耐世特、佑驾创新、赣锋锂业、天齐锂业等持仓股领涨。 消息面上，工信部等八部门近日联合印发《汽车行业稳增长工作方案（2025—2026年）》，提出2025年 力争实现全年汽车销量3230万辆左右，其中新能源汽车销量1550万辆左右。2026年行业运行保持稳中向 好发展态势，产业规模和质量效益进一步提升。 东方证券表示，中国新能源汽车市场渗透率在2023年突破30%，2024年以来渗透率首次突破50%，步入 2025年，高竞争力新车产品持续推出，价格战逐渐被叫停。竞争格局来看，自主品牌市场份额继续扩 大，建议关注产品力强、出海推进顺利、供应稳定性强的企业。 恒生科技指数站上6000点大关，突破前高在即。在南向资金持续不断流入、美国新一轮降息周期有望启 动的背景下，港股9月或迎内外资共振，而外部流 ...

银河证券表示，短期看，降息降低了资本成本，提升了企业盈利预期，推动股市风险资产价格上涨。中 长期来看，尽管降息会释放流动性，但在本就不差的流动性的基础上是否能够有效增加企业利润仍需观 察，未来美股的走势仍将取决于AI预期的兑现。美联储降息致使人民币兑美元汇率升值，利好A股及港 股市场，紧抓美联储降息窗口期，尤其是直接利好港股市场科技及创新药板块。 恒生科技指数站上6000点大关，突破前高在即。在南向资金持续不断流入、美国新一轮降息周期有望启 动的背景下，港股9月或迎内外资共振，而外部流动性敏感、此前受压制较多的恒生科技则有望迎来"补 涨"行情。此外，反内卷政策不断推进，叠加阿里巴巴财报超预期、AI大模型快速迭代，恒生科技有望 从"外卖内卷"回归AI叙事，估值重构可期，突破前高或许只是时间问题。没有港股通账户的投资者或可 通过恒生科技指数ETF（513180）一键布局中国AI核心资产。（场外联接A/C：013402/013403） 每日经济新闻 9月15日早盘，港股三大指数低开高走，恒生科技指数翻红。盘面上，芯片股、半导体股盘初走强，汽 车股表现活跃。主流ETF方面，恒生科技指数ETF（513180）小幅上涨， ...

Group 1 - The Hong Kong stock market indices collectively rose, with technology stocks performing well and semiconductor sector showing signs of recovery [1] - Southbound capital has continuously flowed into Hong Kong stocks, with a cumulative net inflow of 10064.35 billion HKD this year, surpassing last year's total and reaching the highest level since the launch of the mutual market access mechanism [1] - Alibaba has seen a continuous increase in holdings for 10 consecutive days, indicating a preference for core assets in the AI sector among southbound funds [1] Group 2 - The expectation of a Federal Reserve interest rate cut is rising, with a 99.3% probability of a 25 basis point cut in the upcoming meeting, which may improve liquidity conditions for Hong Kong stocks [2] - Hong Kong stocks are considered to have a favorable valuation, and the combination of southbound capital inflow and potential Fed rate cuts could lead to positive performance for the indices [2] - The technology sector in Hong Kong, represented by the Hang Seng Tech Index ETF, is currently in a historically undervalued range, with expectations for a "catch-up" rally due to external liquidity and ongoing policy support [3] Group 3 - The "anti-involution" policies and Alibaba's better-than-expected earnings report may lead the Hong Kong technology sector to shift focus back to AI narratives, suggesting a potential for valuation reconstruction [3]

Group 1 - The New Energy Vehicle Battery ETF (159775) experienced a strong surge, reaching a limit-up with a closing premium rate of 11.24% on September 1 [1][2] - The market showed active trading with the Short-term Bond ETF (511360) achieving a transaction volume exceeding 360 billion yuan, marking it as the highest in the market [1][5] - Several gold-related ETFs saw significant gains, with multiple ETFs rising over 8%, indicating strong investor interest in the gold sector [2][3] Group 2 - The Short-term Bond ETF (511360) recorded a transaction volume of 361.03 billion yuan and a turnover rate of 63.56% on September 1, leading the market [6] - Over the past week, the entire ETF market saw a net inflow of 455.28 billion yuan, with the Convertible Bond ETF (511380) attracting over 60 billion yuan [7][8] - Investment strategies suggested by fund managers include focusing on sectors with industrial trends or policy logic, particularly in technology, non-bank financials, and new consumption [9] Group 3 - Several ETFs, including the China Concept Internet ETF (513050) and the NASDAQ 100 ETF (513390), issued risk warnings regarding premium prices, advising investors to be cautious [10]