今日港股小幅下挫，港股通科技ETF南方(159269)盘中获资金逆势净申购1200万份，近10个交易日有7日迎资金净流入。 资金持续流入的背后得益于多个因素： ①截至8月7日，今年以来南向资金累计净流入8945.28亿港元，大幅超过去年全年净买入额。 ②上周美国非农数据显示经济放缓迹象，强化市场对美联储将通过降息“稳增长”的押注，推动全球风险偏好修复。 ③经济学家洪灏近期表示如果上半年看到历史性的北水南下，预示着下半年港股应该还有新高，叠加下半年可能随着美联储同步降息，流动性将更加充沛。 ④港股通科技ETF南方(159269)第一大权重股腾讯将于下周三（8月13日）披露2025年中期业绩，机构普遍看好其二季度业绩。 ⑤港股通科技ETF南方(159269)跟踪的指数港股通科技最新PE（TTM）为23.84倍，位于近十年40.31%历史分位。 方正证券指出，驱动本轮港股走强的因素并未出现反转，我国经济基本面韧性强，当前处于盈利下行周期尾声阶段，叠加一系列政策利好出台，南下资金仍在持续加速流入港股市场，流动性环境整体较为友好，后续有望进一步流入推动港股行情向好前进。
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