Market risk appetite improved amid expectations of renewed US-Iran negotiations, with US stocks rallying overnight and the Nasdaq Golden Dragon China Index climbing over 2%. On April 15, Hong Kong stocks opened significantly higher, with technology leaders collectively advancing. Alibaba-W led gains with nearly a 5% increase, while Kuaishou-W rose over 4%. Tencent Holdings, Bilibili-W, and Meituan-W each gained more than 3%, with Xiaomi Group-W also following the upward trend. The Hong Kong Internet ETF Huabao (513770), a core tool for accessing Hong Kong's AI sector, saw its price rise over 3% intraday, breaking above the 20-day moving average.
Geopolitical developments include a White House official indicating that the second round of US-Iran talks is "under discussion" though no formal timing has been set. Former US President Donald Trump stated on Tuesday that new negotiations "could take place within the next two days" in Pakistan.
Sector-wise, internet giants are actively advancing in AI. Tencent Cloud raised prices for its AI computing products on April 9, marking the second increase within a month, following similar moves by Alibaba Cloud, signaling accelerated AI commercialization. Additionally, Alibaba's multimodal model HappyHorse-1.0 topped global AI video generation rankings, while Tencent's Hunyuan 3.0 large model is set for mid-month release.
Industrial Securities noted that April may present a favorable window for long positions in Hong Kong stocks, citing a global equity market shift from risk-off to risk-on sentiment. As避险情绪 and oil prices peak and recede, the US dollar is likely to retract from its previously pessimistic pricing of geopolitical uncertainty and liquidity tightening. The launches of Tencent's Hunyuan and DeepSeek models, along with anticipated important meetings and potential visits, could reverse the pessimistic valuations currently reflected in Hong Kong stocks.
Guoyuan International highlighted the sector's high safety margin due to current valuations, supported by policy bottoms and expectations of improved liquidity. While AI breakthroughs serve as short-term catalysts, long-term optimism centers on valuation improvements driven by earnings expectation recoveries.
With 2026 eyed as the inaugural year of AI commercialization, focus remains on core AI tools in Hong Kong markets. The Hong Kong Internet ETF (513770) and its feeder funds (Class A 017125; Class C 017126) track the CSI Hong Kong Stock Connect Internet Index, with top holdings including tech giants like Alibaba-W and Tencent Holdings, alongside AI application firms across sectors, offering significant龙头优势 and intraday T+0 trading with strong liquidity.
For investors seeking exposure to Hong Kong tech with reduced volatility, the Hong Kong Large Cap 30 ETF (520560) employs a "tech + dividends" barbell strategy, combining high-growth tech stocks like Alibaba with stable, high-dividend银行 and保险 shares, making it an ideal long-term portfolio anchor.
Note: Recent market volatility may be elevated, and short-term performance does not indicate future results. Investors should make rational decisions based on their capital status and risk tolerance, with careful attention to position and risk management.
Data source: Shanghai and Shenzhen stock exchanges.
ETF fee details: Subscription/redemption agents may charge up to 0.5% in commissions, including fees from exchanges and registration institutions. Feeder fund fees: Class A subscription rates are 1% for amounts under RMB1 million, 0.6% for RMB1–2 million, and a flat RMB1,000 above RMB2 million; redemption fees are 1.5% for holdings under 7 days and 0% thereafter, with no sales service fee. Class C has no subscription fee, with redemption fees identical to Class A, plus a 0.3% sales service fee.
Risk disclosure: The ETF tracks the CSI Hong Kong Stock Connect Internet Index (base date 2016.12.30, launched 2021.1.11), with constituent adjustments per index rules. Constituent mentions are for illustration only and do not constitute investment advice or reflect fund holdings. The fund is rated R4 (medium-high risk) and suits aggressive (C4+) investors. All information is for reference, and investors are responsible for their decisions. Views expressed do not constitute advice, and no liability is accepted for losses. Past performance of other funds does not guarantee future results; investing carries risks.
MACD golden cross signals have formed, with several stocks showing strong gains.
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