Recently, the technology growth sectors in the A-share and Hong Kong stock markets have seen significant recovery, with technology directions led by AI continuing to be active. At the same time, funds are aggressively expanding into the Hong Kong stock market through ETF tools, and the low valuation advantage and industrial transformation dividends together constitute the core investment attraction of the Hong Kong stock market. According to Wind Information data, as of March 10th, the overall net inflow of ETFs investing in the Hong Kong stock market since the beginning of this year has reached 50.449 billion yuan, a significant reversal from the net outflow of 21.033 billion yuan in the same period last year. Hang Seng Technology themed ETFs have become the main force in attracting funds. The Hang Seng Technology ETF under Huatai Bairui Fund had the highest net inflow this year, reaching 14.194 billion yuan; The annual net inflow of four Hong Kong stock ETFs, including Hang Seng Technology Index ETF, Hang Seng Technology ETF E Fund, Hang Seng Technology ETF Tianhong, Hang Seng Internet ETF, also exceeded 6 billion yuan. From the perspective of public fund issuance, the market's attention to the technology sector of Hong Kong stocks has not weakened. Data shows that as of March 11, 12 funds investing in the Hong Kong stock market, including ICBC China Securities Hong Kong Stock Connect Internet ETF and Industrial China Securities Hong Kong Stock Connect Internet ETF, are being issued, while more than 10 funds covering science and technology topics are in the issuance status. The concentrated influx of funds into the technology sector of the Hong Kong stock market in this round can be attributed to the value resonance formed by the certainty of valuation repair and the growth potential of industrial transformation. ”Tian Lihui, a finance professor at Nankai University, said that this reflects the market's confidence in AI enabled technological growth. From a valuation perspective, the Hang Seng Technology Index has experienced a pullback of over 20% since its peak in October 2025, and its dynamic price to earnings ratio has fallen to around 20 times. In Tian Lihui's view, for medium and long-term funds, a deep adjustment in the Hong Kong stock market means that risks are fully released, and the net inflow of southbound funds against the trend within the year is based on rational value judgments. From the perspective of industrial transformation, Wu Wanying, senior researcher at Tianyi Digital Economy Think Tank, stated that the current AI wave is reshaping the growth path of Hong Kong stock technology giants from the underlying logic. In terms of valuation, the market is gradually moving away from the past simple "traffic dependence" and giving related boards and targets a "technology driven" valuation premium. Xing Cheng, former manager of the Hang Seng Seaport Stock Connect Value Hybrid Fund, stated that the Hang Seng Technology Index has recently undergone adjustments and its absolute valuation is now close to historical lows, which may have a high margin of safety. Looking forward to the future market, the scarce Hong Kong stock technology sector may have a large upward space. It is suggested to focus on investment opportunities in the broad growth sector represented by Internet technology, medicine and new consumption. (New Society)