Hang Seng Tech drops back to 4700 points. The Hang Seng Tech ETF Tianhong (520920) has consecutively attracted funds for 14 days, accumulating over 900 million yuan. Institutions: The technology sector remains the main long-term investment theme.

2026-04-08 13:13:45

Abstract generation in progress

On March 31, the Hong Kong stock technology sector rose and then pulled back. The Hang Seng Tech Index lost and then regained ground around 4700, ending the morning down 0.94% at 4646.02 points. The CSI HKEX-HK Stock Connect Technology Index ended the morning down more than 1%. Among the relevant constituent stocks, Midea Group rose by more than 6%, while Sunny Optical Technology, BYD, Haier Smart Home, Kingdee International, and NIO-SW also rose.

As for popular ETFs, Hang Seng Tech ETF Tianhong (520920) saw morning trading volume exceed 140 million yuan, with a turnover rate close to 1%. Trading was active, with a premium/discount rate of 0.11%, and premium trades appeared frequently during the day.

Wind data shows that, as of March 30, Hang Seng Tech ETF Tianhong (520920) has received net fund inflows for 14 consecutive days, with cumulative net inflows exceeding 900 million yuan.

Hang Seng Tech ETF Tianhong (159128) saw morning trading volume of nearly 60 million yuan, with a turnover rate close to 3%. Trading was active, with a premium/discount rate of 0.03%, and premium trades appeared frequently during the day.

Hang Seng Tech ETF Tianhong (520920) closely tracks the Hang Seng Tech Index, precisely focusing on leading technology companies in Hong Kong stocks. Through the QDII mechanism, the ETF can also invest in high-quality technology listed companies not included in the Stock Connect to Hong Kong, such as NetEase, JD.com, and Trip.com.

Hang Seng Tech ETF Tianhong (159128) closely tracks the CSI HKEX-HK Stock Connect Technology Index. Its constituent stocks all belong to the Shanghai-Shenzhen-Hong Kong Stock Connect universe and are not subject to QDII quota limits. It can be traded on a T+0 basis. The ETF is also equipped with an off-exchange fund connection A (024885) / connection C (024886).

Although the Hong Kong stock market has not performed well, institutions are optimistic about the subsequent performance.

Guangda Securities stated that recent adjustments in technology stocks have mainly been driven by both earnings follow-through and market sentiment. However, the adjustment has already been relatively sufficient, and there has been no fundamental change in the industry’s underlying fundamentals. At present, the market’s main concern remains focused on the development of geopolitical conditions in the Middle East. If the situation remains tense, it will suppress the technology sector; however, as the Middle East situation becomes clearer, technology stocks are expected to have opportunities to rebound.

Haitong Securities said that in 2026, the Hong Kong stock market will shift from being driven by “valuation repair” to “fundamental improvement.” Catalysts from the AI industry are expected to help improve ROE for relevant sectors in Hong Kong stocks, and the technology sector remains the main investment theme over the medium to long term.

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