Persistent elevated US Treasury yields continue to exert pressure on global capital markets in the near term. Geopolitical uncertainties have also weighed on risk sentiment, leaving the Hong Kong equity market in a state of consolidation during this period.

Following a phase of prior corrections, valuations within the city's technology sector, as measured by the Hang Seng Tech Index, have retreated to a moderate-to-low historical range. This pullback has once again drawn market attention to the potential allocation value of products such as the HuaTai柏瑞 Hang Seng Tech ETF (513130).

Notably, the benchmark index encompasses several core segments of the AI value chain, spanning computing infrastructure construction, large model research and development, and AI applications. It clusters leading technology enterprises that boast deep expertise in AI alongside significant technological and scale advantages, positioning them to capitalise on the pivotal transition of the industry from conceptual promise to commercial implementation.

According to Wind data as of 4 September 2026, the trailing twelve-month price-to-earnings ratio of the Hang Seng Tech Index has moderated to 23.56 times. This places the valuation at the 39.68th historical percentile since the index's inception, indicating a mid-to-low level and a potentially compelling entry point relative to its own trading history.

On the fundamental front, there has been a surge in new hardware product launches within the AI terminal segment. During the IFA consumer electronics show in Berlin on 4 September, a number of Hong Kong-listed technology firms unveiled hardware offerings, including AI-powered personal computers and AI-enabled eyewear.

Leveraging attributes such as low latency and on-device privacy computation, edge AI is accelerating its penetration into sectors like intelligent vehicles, smart homes, and industrial manufacturing. The accelerating commercialisation cycle of AI hardware is likely to provide a substantial lift to sentiment across the Hong Kong tech sector.

In the longer term, as the AI industry progresses into a critical phase of execution and value delivery, the strategic blueprints of leading domestic technology companies are evolving. Many platform enterprises are expediting the deep integration of AI capabilities within their primary business operations. The competitive landscape is shifting beyond initial foundational model development, transitioning towards a more synergistic approach that coordinates computing power infrastructure, scenario-specific implementation, and commercial efficiency. This evolution continually reinforces the industry's grounding in tangible business application.

These comparatively lower valuations, combined with the constructive developments across the technology landscape, are attracting strategic capital flows into the Hong Kong technology investment theme. Wind data indicates that from 1 September to 4 September, the HuaTai柏瑞 Hang Seng Tech ETF (513130) recorded cumulative net inflows of RMB 587 million during this abbreviated trading window.

As one of the representative products among A-share ETFs tracking the Hang Seng Tech Index, offering a robust blend of scale and liquidity, the HuaTai柏瑞 Hang Seng Tech ETF (513130) saw its fund units climb to 57.682 billion as of 4 September 2026, corresponding to a fund size of RMB 33.017 billion. The product has maintained a strong daily average turnover of RMB 4.304 billion this year. Supporting same-day T+0 trading, it serves as an efficient instrument for domestic investors seeking exposure to core Hong Kong technology assets.

The fund manager behind the HuaTai柏瑞 Hang Seng Tech ETF (513130) and its feeder funds (Class A: 015310 / Class C: 015311) is HuaTai柏瑞 Fund Management. As one of the pioneers in China's ETF market, the firm brings over 19 years of dedicated expertise in index investing. It has crafted a suite of transparent, liquid, and cost-efficient index tools for investors, including the CSI 300 ETF HuaTai柏瑞 (510300) and the A500 ETF HuaTai柏瑞 (563360). As of the end of June 2026, the company's ETF lineup had generated cumulative profits exceeding RMB 180.6 billion for holders over the prior two years, ranking it among only three public fund firms in the entire A-share market to surpass RMB 160 billion in cumulative earnings during that timeframe.

Other indices referenced are compiled and published by China Securities Index Co., Ltd., which retains all ownership rights to them.