Hang Seng Tech recovers to 4700 points! Tianhong Hang Seng Tech ETF (520920) has achieved a growth rate of over 33% in assets under management since the beginning of the year, ranking first among similar funds; the pullback offers a good opportunity for allocation.

In the market, the Hong Kong stock technology sector declined. Regarding related ETFs, the Hang Seng Technology ETF Tianhong (520920) closed down 3.65%, with a trading volume of 259 million yuan; the turnover rate was 1.77%.

Notably, Wind data shows that the Hang Seng Technology ETF Tianhong (520920) has achieved continuous “fund inflows” over the past 8 trading days (March 11, 2026 – March 20, 2026), with a total net capital inflow of 3.337 billion yuan in the last 30 trading days. As of March 20, 2026, the fund’s latest size was 14.94 billion yuan, with a year-to-date growth rate of approximately 33.41%, ranking first among similar funds.

Additionally, the Hong Kong stock technology ETF Tianhong (159128) has accumulated net capital inflows of 605 million yuan over the past 30 trading days. As of March 20, 2026, the fund’s latest size was 2.183 billion yuan, with a year-to-date increase of 470 million yuan, also ranking first among similar funds.

Tianhong Hang Seng Technology ETF (520920) closely tracks the Hang Seng Technology Index, focusing precisely on leading Hong Kong tech companies. The index selects the top 30 Hong Kong stocks highly related to technology themes, with high concentration and comprehensive coverage of core areas such as information technology, consumer discretionary, and communication services. Additionally, through the QDII mechanism, this ETF can also invest in high-quality tech listed companies like NetEase, JD.com, and Ctrip that are not included in the Hong Kong Stock Connect. The ETF is also equipped with two offshore connect funds (Class A: 012348; Class C: 012349).

The Hong Kong stock technology ETF Tianhong (159128), tracking the Guozheng Hong Kong Stock Connect Technology Index, focuses on 30 representative tech leaders, covering high-growth sectors such as internet, electronics, communications, biotech, and smart vehicles, characterized by high R&D investment, high revenue growth, and high liquidity. Its component stock weight limit is higher (15%), with better concentration. Historical data shows that in most years, it outperforms other Hong Kong tech indices, demonstrating stronger resilience and potential for excess returns. This ETF is also equipped with two offshore connect funds (Class A: 024885; Class C: 024886).

On the news front, Dongwu Securities reports that the two sessions’ policies continue to focus on new productive forces and digital economy, providing clear support for the tech industry. Guolian Minsheng Securities notes that Alibaba Cloud and Baidu Smart Cloud have announced AI computing power service price increases of 5% to 34%, reflecting strong downstream demand. Kaiyuan Securities states that the upgrade of AI applications to intelligent agents is driving exponential growth in token consumption, with IDC data indicating a rapid increase in enterprise intelligent agents. Additionally, Caixin reports that AI energy storage companies like CATL are expected to significantly exceed performance expectations in 2025, highlighting high industry prosperity.

Zhongtai Securities believes that the Hang Seng Technology Index may remain volatile in the short term, but its medium- and long-term investment value has become apparent. Its core investment logic focuses on the Federal Reserve’s interest rate cut timing; if a rate cut cycle begins in the second half of the year, it will benefit foreign capital inflows. It recommends adopting a “dumbbell strategy,” balancing high-dividend defensive assets with internet giants’ valuation corrections to seize valuation recovery opportunities brought by AI transformation.

Daily Economic News