The RMB exchange rate has shown recent strength. On August 28, 2025, the central bank released data showing the RMB-USD midpoint rate broke through the 7.11 threshold to reach 7.1063, attracting widespread market attention and discussion. Taking a longer-term view, the RMB midpoint rate accumulated an appreciation of 464 basis points throughout August 2025. Against this backdrop, Hong Kong stocks welcomed a strong September opening, with the Hong Kong tech sector performing particularly well. The popular Hang Seng Tech ETF (513130) consequently attracted capital favor, recording net subscriptions exceeding 1 billion shares on September 1, 2025, pushing its latest share count above 48.944 billion shares, setting a new historical high since inception. (Data sources: RMB exchange rate data from central bank and China Foreign Exchange Trade System; share data from exchanges, as of September 1, 2025)
The improving fundamentals, positive capital market trends, and rising expectations for Federal Reserve rate cuts have collectively driven the RMB appreciation trend. Research indicates that "from historical experience, markets generally rise during RMB appreciation periods, with Hong Kong stocks showing greater elasticity. Considering both market factors and exchange rate factors, Hong Kong growth styles represented by Hang Seng Tech tend to outperform during appreciation periods." (Source: "RMB Appreciation, How to Position in Hong Kong Stocks?" - September 1, 2025)
Additionally, southbound capital has similarly injected valuation-lifting momentum into the Hong Kong tech sector. Wind data shows southbound capital net purchases have exceeded HK$10 billion for two consecutive trading days (August 29 - September 1, 2025). From the positioning direction perspective, the top net purchases over the recent 7 trading days were all Hong Kong tech sector stocks. Supported by southbound capital, Hang Seng Tech ETF (513130) has seen significantly increased trading volume recently. As of September 1, 2025, the daily average trading volume since August reached RMB 5.248 billion, notably expanding from July's monthly average of RMB 3.922 billion. From capital inflow perspective, during the same period (August 1 - September 1, 2025), Hang Seng Tech ETF (513130) accumulated RMB 6.28 billion in net inflows, making it the only ETF tracking the Hang Seng Tech Index with net inflows exceeding RMB 5 billion. (Data source: Wind)
The Hang Seng Tech ETF (513130) closely tracks the Hang Seng Tech Index, which comprises 30 representative Hong Kong tech companies covering both hardware and software technology sectors. It is positioned to benefit simultaneously from multiple growth drivers including rising liquidity easing expectations, continued "AI+" initiatives, and AI-powered business applications, helping investors capture overall opportunities in the Hong Kong tech sector. Exchange data shows that as of September 1, 2025, Hang Seng Tech ETF (513130) reached a latest scale of RMB 37.55 billion. With its substantial scale, superior liquidity, and support for intraday T+0 trading, it is positioned as an investment tool better suited to track the Hong Kong tech sector's rhythm. Off-exchange investors may consider its feeder funds (Class A 015310, Class C 015311). (Data sources: Wind, CSI Index Company, as of September 1, 2025)
Hang Seng Tech ETF (513130) was established on May 24, 2021; T+0 represents the exchange trading mechanism.
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