Recently, the Hong Kong technology sector has remained in a consolidation phase, but supported by strong interim earnings performance, short-term pullbacks have not diminished market enthusiasm for positioning in Hong Kong tech stocks. The Hang Seng Tech ETF (513130), with its latest scale reaching 333.65 billion yuan and year-to-date average daily trading volume of 48.38 billion yuan, continues to attract capital inflows. Wind data shows that the Hang Seng Tech ETF (513130) has achieved net inflows for four consecutive trading days (August 15-20, 2025), with average daily net inflows exceeding 420 million yuan during this period, totaling 16.99 billion yuan in "absorbed funds" over the recent four days. (Scale data source: Exchange; Other data source: Wind, as of August 20, 2025)
Accompanying the increased capital allocation, both the scale and shares of the Hang Seng Tech ETF (513130) have expanded accordingly. The latest figures stand at 333.65 billion yuan and 45.29 billion shares respectively, both reaching new highs for three consecutive trading days, further enhancing the liquidity and scale advantages of the Hang Seng Tech ETF (513130). (Data source: Exchange, as of August 20, 2025)
In the short term, Hong Kong stocks have underperformed A-shares on a periodic basis. However, given that leading companies in the Hong Kong technology sector have successively delivered impressive interim reports that frequently exceeded market expectations, the arrival of a fundamental inflection point may receive further validation. Shenwan Hongyuan also stated that the periodic underperformance at the Hong Kong stock index level is merely a phase of consolidation following earlier rapid gains. As interim earnings disclosure gradually unfolds, sectors with previously low earnings expectations may regain market favor based on "negative expectations potentially already reflected in prices + light trading volume." Current Hong Kong stocks, particularly weighted sectors represented by internet and Hang Seng Tech Index, deserve attention. (Source: "Shenwan Hongyuan Analysis of Recent A-Share and Hong Kong Stock Divergence Reasons, Focus on Subsequent Layout Opportunities for Hong Kong Stocks After Negative Expectations Are Priced In" - August 19, 2025)
On the news front, a major constituent stock of the Hang Seng Tech Index, a leading automotive company, will officially unveil its new vehicle tonight at 19:30 (August 21). The new car is positioned as a full-scenario technology flagship SUV and will simultaneously launch pre-sales, potentially bringing new catalysts to the Hong Kong technology sector.
The Hang Seng Tech Index tracked by the Hang Seng Tech ETF (513130) encompasses numerous companies in the Hong Kong market with strong R&D capabilities and industry competitiveness in both internet and manufacturing sectors, combining both software and hardware technologies. Compared to A-share technology assets, it possesses relative scarcity. Its top five constituent stocks are Tencent Holdings, Alibaba-W, NetEase-S, Xiaomi Group-W, and SMIC. Currently, the Hang Seng Tech Index trades at a P/E ratio of 21.55 times, positioned at only the 21.59% percentile level over the past five years. Based on favorable fundamental expectations, the current pullback may present a noteworthy positioning opportunity. (Index top five constituent stocks and data source: Hang Seng Indexes Company, Wind, as of August 20, 2025. Individual stocks mentioned are for index constituent display purposes only, not stock recommendations, and do not constitute investment advice.)
The Hang Seng Tech ETF (513130) supports intraday T+0 trading, has substantial scale, and offers superior liquidity, potentially serving as a tool for capturing the new round of development dividends in Hong Kong technology assets. Off-exchange investors may consider its feeder funds (Class A 015310, Class C 015311).
Note: T+0 refers to the exchange trading mechanism. The Hang Seng Tech ETF (513130) was established on May 24, 2021.
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