Hang Seng Tech Index Drops Nearly 3%, Internet Technology Stocks Broadly Decline, iShares Hang Seng Tech ETF (03067.HK) Falls Over 2.5%

NewTimeSpace Report: On February 20, the fourth day of the Lunar New Year and the first trading day of the Year of the Horse for Hong Kong stocks, the Hang Seng Tech Index plunged over 2.5% to 5,222 points at one point, hitting a nearly five-month low. iShares Hang Seng Tech (03067.HK) fell more than 2.5%.

According to HKEX data, iShares Hang Seng Tech (03067.HK) is managed by BlackRock Asset Management North Asia Limited. The fund tracks the Hang Seng Tech Index and primarily invests in representative companies in Hong Kong's technology sector. The index covers 30 Hong Kong tech leaders, encompassing both hardware and software technologies, with deep exposure across the upstream, midstream, and downstream of the AI industry chain. Among them, Alibaba, Tencent, Xiaomi, Meituan, SMIC, and BYD are poised to become China's "Magnificent Seven" of tech stocks.

Everbright Securities noted that internet and technology stocks continue to drag Hong Kong equities lower, with investors concerned about the business developments of companies such as Alibaba and Baidu, leading to significant declines in related individual stocks. Currently, tech stocks overall are not the primary focus of capital flows, and with a lack of support from southbound capital inflows, the market expects Hong Kong stocks to maintain a weakening trend in the near term, with short-term support for the Hang Seng Index likely between 26,000 and 26,200 points.

NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.