Hong Kong AI Stocks Rally on Positive News, Billion-Dollar HK Internet ETF (513770) Rebounds 1.46%, Ending Six-Day Losing Streak

On April 29, leading internet companies drove a rebound in Hong Kong's AI sector. BABA-W and MEITUAN-W both surged over 3%, while TENCENT Holdings rose more than 1%, and XIAOMI Group-W also closed higher. The core instrument for Hong Kong AI investments, the Huabao Hong Kong Internet ETF (513770), saw its intraday price climb as much as 1.95%, ultimately closing up 1.46% and ending a previous six-day decline. Trading volume reached 416 million yuan.

Positive developments continue to emerge from major internet firms. On April 28, Alibaba's T-Head unveiled its first smart network interface card, PanMai 920, which supports high-speed interconnection for AI clusters of over 10,000 cards. Furthermore, according to QuestMobile data, the monthly active users of Alibaba's Qianwen app reached 165 million in March, a staggering 4,241% year-over-year increase, ranking first in growth among apps with over 100 million users.

In other news, on April 24, MEITUAN-W opened its next-generation foundational large model, LongCat-2.0-Preview, for testing. This model boasts over a trillion parameters, comparable to DeepSeek-V4, and its entire training and inference process was completed using domestic computing clusters.

On April 23, Tencent released and open-sourced its Hunyuan Hy3 preview language model, which supports a context length of up to 256K and demonstrates significant improvements in instruction following and coding capabilities.

From a secondary market perspective, Guoyuan Securities believes that the long-term investment value of Hong Kong's internet sector has not fundamentally changed due to short-term fluctuations. The upward trend for the internet segment is expected to persist, supported by the broader trend of technological iteration. Additionally, the productivity enhancements and profit growth driven by the AI revolution are likely to become evident in financial reports over the coming quarters. During the current consolidation phase, the profitability of large internet companies continues to support their current valuations, making leading companies with core technologies and clear business models particularly noteworthy.

To capitalize on the anticipated 2026 AI commercialization wave, focus on core AI investment tools in Hong Kong. The Hong Kong Internet ETF (513770) and its feeder funds (Class A: 017125; Class C: 017126) passively track the CSI Hong Kong Stock Connect Internet Index. The index's top ten holdings include tech giants like BABA-W and TENCENT Holdings, as well as AI application companies across various sectors, highlighting significant leading advantages. The ETF offers intraday T+0 trading and good liquidity.

For investors bullish on Hong Kong tech but seeking to reduce volatility, consider the Hong Kong Large Cap 30 ETF (520560), the first of its kind in the market. It employs a "tech + dividends" barbell strategy, with a portfolio that includes high-growth tech stocks like Alibaba alongside stable, high-dividend bank and insurance stocks, making it an ideal long-term foundational holding for Hong Kong market exposure.

A MACD golden cross signal has formed, indicating positive momentum for several stocks.