Today, the Hang Seng Technology Index surged strongly in early trading, gaining 1.44%. Among ETFs, as of the time of writing, the Hang Seng Internet ETF (159688) rose 2.10% with a turnover rate exceeding 16%, while Meitu jumped over 12%, and Kuaishou-W climbed more than 6%. Meanwhile, the Hang Seng Tech ETF Index Fund (513580) turned positive.

On the news front, according to the Securities Daily, the disclosure of public funds' Q2 2025 reports has concluded, clearly revealing their portfolio adjustments. Against the backdrop of heightened global market volatility, the Hong Kong stock market, with its unique valuation advantages and structural opportunities, has become a key direction for public funds' asset allocation. Data shows that the allocation ratio of active equity-focused funds to Hong Kong stocks has reached a historical peak, with healthcare and financial sectors being the main targets of increased positions, while tech giants like Tencent Holdings and Xiaomi Group-W remain top holdings.

CITIC Securities stated that Hong Kong stocks' mid-2025 earnings are expected to be released intensively in mid-to-late August. Based on current earnings expectations, the Hang Seng Index's overall revenue growth rate in the first half of 2025 has significantly increased year-over-year, though profit growth may moderate slightly. Some sub-sectors, such as new consumption, technology, and pharmaceuticals, show strengthening confidence, with earnings expectations being revised upward ahead of earnings releases. It is recommended to focus on sectors with positive and stable earnings outlooks. For the Hang Seng Tech Index, while recent earnings expectations have seen minor downgrades—primarily due to a few internet platforms affected by food delivery subsidies—the negative impact has already been priced in by the market. Other sub-sectors generally show upward revisions, particularly in new energy vehicles, semiconductors, and consumer electronics.

Min Sheng Securities noted that the computer sector's performance is mid-tier among all industries, with institutional holdings still at historically low levels. As of June 6, the computer sector has gained 4.63% year-to-date, ranking in the middle among all A-share sectors, with the top 20 gainers predominantly in financial IT. Institutional holdings in the computer sector remain at historical lows, while share buybacks and incentives by industrial capital continue.