According to Zhitong Finance APP, Hang Seng Tech ETF (03088) rose more than 4% in early trading. As of press time, it was up 4.09% at HK$5.22, with a turnover of HK$1.4236 million.

On the news front, the US midterm elections are gradually being finalized. Macro shifts combined with "tight fiscal policy pushing down US Treasury yields" have significantly eased the denominator-side pressure on global growth assets. After deleveraging, US tech stocks are about to catch their breath, while Hong Kong tech giants face minimal direct impact from US AI regulation. Under the multiple catalysts of improved liquidity expectations, accelerated deployment of their own AI applications, and domestic policy support, the valuation repair odds for the Hong Kong tech sector are further highlighted.

Morningstar recently released a research report stating that Chinese chip manufacturers are currently benefiting from growth in AI capital expenditure, but in the long run, internet companies are the ultimate beneficiaries. It listed Tencent and Alibaba as top picks, noting that Tencent and Alibaba's existing businesses can provide profitability. Even if AI adoption or monetization progress falls short of expectations, their operating conditions can still maintain considerable resilience. At the same time, AI also helps the development of internet, advertising, and gaming businesses.