国联民生证券点评港股市场指出，考虑到内地机构开年布局（今年春躁一致预期强），南向持续回暖或 是大概率；叠加外资短期偏交易（2025Q4流出以Global Hedge Funds为主），挣钱效应回归预期下，内 外资有望共振。 东吴证券发布研报称，港股开年"独秀"全球，从中长期配置来看，当前位置有吸引力。未来该行预计南 向资金会继续增配港股。外资是否大幅回流还是看基本面叙事是否有变化。港股从现在进入震荡上行 期，仍需将红利作为底仓，把握上半年的科技成长行情。 （文章来源：21世纪经济报道） 港股通科技ETF（513860）紧密跟踪中证港股通科技指数（HKD），该指数从港股通范围内选取50只市 值较大、研发投入较高且营收增速较快的科技龙头上市公司证券作为指数样本，根据中证公司官网，该 指数最新前十大权重股包括阿里巴巴-W、腾讯控股、中芯国际、小米集团-W、比亚迪股份等龙头股。 该ETF还配备了场外联接基金（A类021454/C类021465）。 值得一提的是，昨日（1月5日），南向资金大举净流入约187.23亿港元，也创下近两个半月以来单日流 入新高。拉长时间来看，Wind数据显示，2025年12月15日~2025 ...

中信证券表示，"十五五"规划建议强调建设现代化产业体系、加快高水平科技自立自强，新能源、新材 料、航空航天等战略性新兴产业集群和量子科技等未来产业或迎来新的政策支持。展望2026年，建议投 资者把握AI相关细分赛道、消费电子等科技方向投资机遇。 港股通科技ETF（513860）紧密跟踪中证港股通科技指数（HKD），该指数从港股通范围内选取50只市 值较大、研发投入较高且营收增速较快的科技龙头上市公司证券作为指数样本，根据中证公司官网，该 指数最新前十大权重股包括阿里巴巴-W、腾讯控股、中芯国际、小米集团-W、比亚迪股份等龙头股。 该ETF还配备了场外联接基金（A类021454/C类021465）。 银河证券表示，国内外货币政策宽松背景下，外资和南向资金均有望继续保持净流入趋势。在加快科技 创新、扩大内需等利好政策带动下，港股上市公司盈利水平有望实现实质性提升，市场将迎来盈利与估 值均上涨的格局，港股总体有望震荡上行。配置方面，建议关注科技创新主题等。 12月30日午后，港股继续走强。 热门ETF中，港股通科技ETF（513860）截至发稿涨0.56%。成分股中，英诺赛科涨超10%，中芯国际、 心动公司、商汤- ...

二级市场方面，港股通科技ETF（513860）今日开盘报0.716元，盘中窄幅震荡多次翻红。截至早盘收 盘，该ETF收报0.717元，盘中最高报0.718元，最低0.715元，成交额达4254.71万元，溢折率为-0.31%。 Wind数据显示，该ETF最新份额为63.56亿份，最新规模为45.97亿元。 资金流向方面，Wind数据显示，该ETF近20个交易日累计"吸金"超1.34亿元。 港股通科技ETF（513860）紧密跟踪中证港股通科技指数（HKD），该指数从港股通范围内选取50只市 值较大、研发投入较高且营收增速较快的科技龙头上市公司证券作为指数样本，根据中证公司官网，该 指数最新前十大权重股包括阿里巴巴-W、腾讯控股、中芯国际、小米集团-W、比亚迪股份等龙头股。 该ETF还配备了场外联接基金（A类021454/C类021465）。 因假期原因，港交所于12月25日至12月26日休市。根据沪深交易所公告，12月24日下午至12月26日不提 供港股通服务。 值得注意的是，在港股休市而A股开市的时段内，ETF二级市场交易照常，在A股上市的相关港股类 ETF仍可在二级市场通过A股账户正常买卖。而在一级市场的 ...

Group 1 - The Hang Seng Index opened with a slight decline of 0.07%, while the Hang Seng Tech Index saw a minor increase of 0.08% [1] - Notable performers in the Hong Kong stock market included Health Road, which rose over 3%, and several companies like SMIC and AAC Technologies, which increased by more than 2% [1] - The Hong Kong Stock Connect Tech ETF (513860) experienced a 0.13% rise, with a trading volume of 13.68 million yuan and a real-time premium rate of 0.01% [1] Group 2 - A significant trend in the Hong Kong stock market has been a surge in share buybacks, with 250 companies participating and repurchasing over 7 billion shares for a total amount exceeding 162 billion HKD as of December 4 [2] - The technology and consumer discretionary sectors have been the most active in terms of buybacks, driven by factors such as reasonable blue-chip valuations and companies holding ample cash [2] - The Hong Kong Stock Exchange's upcoming revision of the "treasury stock new regulations" in June 2024 will allow companies to repurchase shares without canceling them, thus lowering operational barriers for buybacks [2] Group 3 - The Hong Kong Stock Connect Tech ETF (513860) closely tracks the CSI Hong Kong Stock Connect Tech Index, which includes 50 large-cap technology companies with high R&D investment and rapid revenue growth [3] - The top ten weighted stocks in the index include major players like Alibaba, Tencent, SMIC, Xiaomi, and BYD [3] - According to CICC, the technology sector is expected to present significant investment opportunities by 2026, particularly in new infrastructure driven by technological innovation and structural opportunities arising from domestic demand recovery and high export growth [3]

Group 1 - The Hong Kong stock market opened slightly higher on December 4, with the Hang Seng Index rising by 0.17% and the Hang Seng Biotechnology Index increasing by over 1% [1] - The Hong Kong Stock Connect Technology ETF (513860) saw a gain of 1.22%, with significant increases in constituent stocks such as Kingsoft Biotechnology and CanSino Biologics, both rising nearly 4% [1] - As of December 3, the Hong Kong Stock Connect Technology ETF (513860) attracted a total of 410 million yuan over the past nine trading days, with a net inflow of 74.36 million yuan on December 2 [1] Group 2 - Guosen Securities emphasizes that AI will remain a key focus through 2026, driven by the need for accelerated domestic hardware production and the expectation of more AI applications being implemented [2] - The Hong Kong Stock Connect Technology ETF (513860) closely tracks the CSI Hong Kong Stock Connect Technology Index, which selects 50 large-cap, high R&D investment, and fast-growing technology companies [2] - The top ten weighted stocks in the index include major players such as Alibaba-W, Tencent Holdings, SMIC, BYD, and Xiaomi Group-W [2]

Group 1 - The Hong Kong stock market opened slightly higher on December 4, with the Hang Seng Index rising by 0.17% and the Hang Seng Biotechnology Index increasing by over 1% [1] - The Hong Kong Stock Connect Technology ETF (513860) saw a gain of 0.14%, with notable increases in constituent stocks such as Kingsoft Biotechnology and CanSino Biologics, both rising nearly 4% [1] - As of December 3, the Hong Kong Stock Connect Technology ETF (513860) attracted a total of 410 million yuan over the past nine trading days, with a net inflow of 74.36 million yuan on December 2 [1] Group 2 - Guosen Securities emphasizes that AI will remain a key focus through 2026, driven by the need for accelerated domestic hardware production and the expectation of more AI applications being implemented [2] - The Hong Kong Stock Connect Technology ETF (513860) closely tracks the CSI Hong Kong Stock Connect Technology Index, which selects 50 large-cap, high R&D investment, and fast-growing technology companies as sample stocks [2] - The top ten weighted stocks in the index include major players such as Alibaba-W, Tencent Holdings, SMIC, BYD Company, and Xiaomi Group-W [2]

Group 1 - The Hong Kong stock market has shown strong performance this year, attracting significant inflows into the ETF market, particularly in technology and dividend-focused products [1][2] - The Hong Kong Stock Connect Technology ETF (513860) has seen a net inflow of 235 million HKD, indicating a buying trend despite recent market corrections [1] - The Hang Seng Technology Index has gained over 300 billion HKD in inflows year-to-date, highlighting a shift in investor preference towards technology-related ETFs [1][2] Group 2 - The Hong Kong stock market is entering a new allocation window period starting from 2025, driven by factors such as expectations of overseas interest rate cuts and continuous inflows from southbound capital [2] - Despite recent volatility, multiple institutions remain optimistic about the Hong Kong market, suggesting that the underlying bullish fundamentals have not changed [2] - The Hong Kong Stock Connect Technology Index includes 50 large-cap technology companies with high R&D investment and rapid revenue growth, with major constituents including Alibaba, Tencent, and BYD [2]

Group 1 - The Hang Seng Index rose by 0.45% as of November 10, with notable increases in stocks such as Qutoutiao (over 10%), Great Wall Motors (over 6%), and Dongfang Zhenxuan (over 5%) [1] - The Hong Kong Stock Connect Technology ETF (513860) had a trading volume of 65.28 million yuan, ranking first among its peers, with a real-time premium rate of 0.23% [1] - The ETF experienced a net inflow of 5.524 million yuan on the previous trading day (November 7), marking five consecutive days of net inflows, totaling 65.95 million yuan [1] Group 2 - Over 1 trillion yuan in funds have flowed into Hong Kong, reshaping the market's investor structure and pricing logic, moving towards a structural transformation where pricing power shifts to domestic investors [1] - Despite some fluctuations in the fourth quarter, institutions believe the current market trend is not a short-term rebound, with expectations of continued stability driven by signals of economic recovery in China and improved global liquidity [2] - The Hong Kong Stock Connect Technology ETF closely tracks the CSI Hong Kong Stock Connect Technology Index, which includes 50 large-cap technology companies with high R&D investment and rapid revenue growth [2] Group 3 - Guosen Securities predicts that after hitting a bottom in 2024, the Hong Kong market will perform well in 2025, with an expected annual increase of over 30% [2] - It is anticipated that southbound funds will net inflow 1.4 trillion yuan this year, setting a historical record, and that this influx will significantly impact the valuation of Hong Kong stocks [2] - The target price range for Hong Kong stocks has been raised to 29,000-32,000 points for 2026 based on weighted risk premiums [2]

Group 1 - The Hong Kong stock market opened lower on November 7, with the technology sector experiencing a pullback, while the Hong Kong Stock Connect Technology ETF (513860) fell by 1% with a premium rate of 0.1% [1] - Despite the recent adjustment in the Hong Kong stock market since early October, there has been a continuous inflow of funds into technology-related ETFs, with the Hong Kong Stock Connect Technology ETF (513860) seeing net inflows for 18 out of the last 20 trading days, accumulating nearly 130 million yuan [1] - The ETF closely tracks the CSI Hong Kong Stock Connect Technology Index, which selects 50 large-cap technology companies with high R&D investment and rapid revenue growth, including major stocks like Alibaba, Tencent, and Xiaomi [1] Group 2 - OpenAI's CFO made controversial remarks regarding seeking government guarantees for AI investments, prompting a response from the CEO who emphasized the company's strong revenue-generating capabilities [2] - Dongwu Securities remains optimistic about the Hong Kong AI technology sector, noting that while U.S. tech giants may influence trading rhythms, the current valuation levels in Hong Kong's technology sector are attractive for the medium to long term [2]

Group 1 - The Hong Kong stock market opened higher on November 3, with the Hong Kong Stock Connect Technology ETF (513860) experiencing a peak increase of 0.50% during the day, but closing down by 0.62% [1] - The ETF saw significant premium trading with a premium discount rate of 0.24%, and three out of the last five trading days recorded net inflows totaling 14.9 million yuan [1] - The ETF closely tracks the CSI Hong Kong Stock Connect Technology Index, which selects 50 large-cap, high R&D investment, and fast revenue growth technology companies, including major stocks like Alibaba, Tencent, Xiaomi, and SMIC [1] Group 2 - The State Council meeting on October 31 emphasized accelerating the cultivation of application scenarios and promoting large-scale applications in new fields, focusing on supply-demand alignment and prioritizing new high-value scenarios [2] - Donghai Securities highlighted the importance of grasping the technology theme, noting that technological advancements will significantly impact long cycles, particularly in the context of the current AI-driven technological transformation [2] - Guotai Junan Securities indicated that the current valuation of the Hong Kong stock market is low compared to historical and overseas levels, suggesting potential upward movement and a favorable environment for foreign capital inflow in the coming year [2]