While Hong Kong stock sectors have shown volatile performance recently, market capital enthusiasm remains strong with contrarian position building. Wind data shows that the Hang Seng TECH ETF (513130), with its latest scale reaching 36.869 billion yuan, has recorded net capital inflows for 7 consecutive trading days (2025/8/26-2025/9/3), with cumulative inflows totaling 2.676 billion yuan. (Scale data source: Exchange, as of 2025/9/3)
Currently, Hong Kong's technology sector is primarily supported by two major drivers: interest rate cut expectations and strengthening AI narrative. On one hand, on September 3, 2025, the US released the Beige Book economic report showing US economic growth below average levels with virtually no signs of acceleration. Combined with dovish comments from multiple Federal Reserve monetary policy committee officials regarding inflation and interest rate outlook, expectations for a Fed rate cut in September have heated up again. Hong Kong's interest rate-sensitive technology sector is expected to benefit first.
On the other hand, Hong Kong internet companies' overall interim earnings have been relatively solid, with AI-focused companies showing strong revenue and profit growth. AI has demonstrated clear effects on internet giants' advertising business scenarios, cloud computing scenarios, and enterprise efficiency aspects, providing some validation for the logic of AI-enabled business operations.
The Hang Seng Tech Index, which the Hang Seng TECH ETF (513130) closely tracks, is a representative index of Hong Kong technology stocks, comprising 30 Hong Kong-listed internet and manufacturing technology companies with strong R&D capabilities. The top five constituent stocks are Tencent Holdings, Alibaba-W, SMIC, NetEase-S, and Xiaomi Group-W, all leading enterprises with strong competitive advantages in their respective industries. Additionally, the Hang Seng Tech Index covers multiple sectors including automotive, internet platforms, semiconductors, and telecommunications, offering strong representativeness and comprehensiveness that may help capture overall opportunities in Hong Kong's technology sector. (Top five constituent stocks and data source: CSI, Wind, as of 2025/9/2. Individual stocks mentioned are for index composition display only, not stock recommendations, and do not constitute any investment advice.)
As of 2025/9/3, the Hang Seng TECH ETF (513130) is a relatively large-scale, high-liquidity product tracking the Hang Seng Tech Index, with average daily trading volume of 5.3 billion yuan since August. As of 2025/9/3, the index P/E ratio stands at 21.76x, at the 23.75% historical percentile level over the past 5 years. Under rising liquidity easing expectations and AI industry empowerment logic validation, its valuation space may see further elevation. Off-market investors may consider its feeder funds (Class A 015310, Class C 015311).
The Hang Seng TECH ETF (513130) was established on 2021/5/24.
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