In early trading today, Hong Kong tech stocks showed significant recovery, driving active trading in related ETFs. According to Wind data, as of 10:10 AM, the Hang Seng TECH ETF (513130), which has a latest scale of 36.285 billion yuan, latest shares outstanding of 49.047 billion units, and supports intraday T+0 trading, recorded a turnover of 1.45 billion yuan. (Scale and share data source: Exchange, as of September 4, 2025; other data source: Wind)
The recovery in sentiment for Hong Kong tech stocks is primarily driven by catalysts from news developments. On the evening of September 4, the ADP National Employment Report, known as "mini non-farm," showed that US ADP employment increased by 54,000 in August, below market expectations. Additionally, according to the latest data from the US Department of Labor, initial jobless claims for the week ending August 30 reached 237,000, higher than market expectations. The continued cooling of the US labor market has further reinforced expectations for Federal Reserve rate cuts. Furthermore, the market is focusing on the US non-farm payroll report to be released tonight, which will have a significant impact on the pace of rate cuts.
Hong Kong tech stocks are a highly interest rate-sensitive sector that typically exhibits stronger volatility and elasticity in a loose liquidity environment. Combined with their relatively strong interim earnings performance, overall valuations are expected to rise further. The Hang Seng TECH Index, which is closely tracked by the Hang Seng TECH ETF (513130), is one of the representative indices of Hong Kong's tech sector. It comprises 30 Hong Kong-listed internet and manufacturing technology companies with strong research and development capabilities. The top five constituent stocks are Tencent Holdings, Alibaba-W, NetEase-S, Xiaomi Group-W, and SMIC, all of which are leading companies with strong competitive advantages in their respective industries. The Hang Seng TECH Index covers multiple sectors including automotive, internet platforms, semiconductors, and telecommunications, providing strong representativeness and comprehensiveness that may help capture overall opportunities in Hong Kong's tech sector. (Index top five constituent stocks and data source: Hang Seng Indices Company, Wind, as of September 4, 2025. The mentioned individual stocks are for index constituent display purposes only, not stock recommendations, and do not constitute any investment advice.)
The Hang Seng TECH ETF (513130) is a relatively large-scale, high-liquidity product tracking the Hang Seng TECH Index. According to Wind data, as of September 4, 2025, the ETF recorded an average daily turnover of 4.96 billion yuan year-to-date and accumulated over 12 billion yuan in net inflows, making it the only product among similar ETFs tracking the same underlying index to attract more than 10.5 billion yuan in funds during the same period. During recent volatile corrections, the Hang Seng TECH Index has once again reached low valuation levels. Wind data shows that as of September 4, 2025, its price-to-earnings ratio stands at 21.39 times, positioned at the 20.3% percentile of its 5-year historical range. Against the backdrop of rising rate cut expectations, its valuation is expected to rise further. The Hang Seng TECH ETF (513130) and its feeder funds (Class A 015310, Class C 015311) may help capture overall opportunities in Hong Kong's tech sector.
Huatai-PineBridge Fund Management, the manager of Hang Seng TECH ETF (513130), is one of the first ETF managers in mainland China. It has successfully created the currently largest ETF in the A-share market - the CSI 300 ETF (510300), the largest in its category A500 ETF Huatai-PineBridge (563360), and the Dividend Low Volatility ETF (512890), among other premium ETF products. The company maintains an 18-year track record of zero operational errors in ETF management, committed to providing diversified, high-quality index investment tools for investors.
Note: Hang Seng TECH ETF (513130) was established on May 24, 2021; T+0 refers to the exchange trading mechanism; according to exchange data, as of September 4, 2025, CSI 300 ETF (510300) has a scale of 404.625 billion yuan; A500 ETF Huatai-PineBridge (563360) has a scale of 20.507 billion yuan.
Risk Warning: Fund investment involves risks, please invest prudently. If you need to purchase related fund products, please pay attention to investor suitability management regulations, conduct risk assessments in advance, and purchase fund products with risk levels matching your risk tolerance capacity based on your own risk-bearing ability. Past performance of funds does not predict future performance, and the performance of other funds managed by the fund manager does not guarantee the fund's performance. Fund investment requires attention to investment risks. Please carefully read legal documents such as fund contracts, fund prospectuses, and product summaries to understand the specific conditions of the fund. This fund can invest in overseas securities markets and, in addition to bearing general investment risks such as market volatility risks similar to domestic securities investment funds, will also face special investment risks such as exchange rate risks and overseas securities market risks. The index is compiled and published by Hang Seng Indices Company, and its ownership belongs to Hang Seng Indices Company. Hang Seng Indices Company will take all necessary measures to ensure the accuracy of the index but makes no guarantee and bears no responsibility to anyone for any errors in the index.
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