CICC: Hang Seng Tech Presents a Gradual Left-Side Positioning Opportunity

2026-03-10 12:44:26

Abstract generation in progress

As of March 9, the Hang Seng Tech Index PE-TTM is approximately 20 times, placing it in the 13th percentile over the past five years, indicating a valuation advantage. From the secondary market performance, the Hang Seng Tech Index has fallen more than 10% this year, leading declines among global indices. The Hang Seng Tech ETF (513180) and Hang Seng Internet ETF (513330) have declined 12.49% and 13.41% respectively this year.

CICC’s Chief Overseas and Hong Kong Stock Strategy Analyst believes that in the short term, the Hang Seng Tech’s P/E ratio has fallen below its average minus one standard deviation, and the RSI indicator suggests it may already be in oversold territory, making it somewhat attractive.

For some investors, the current valuation and market sentiment of the Hang Seng Tech Index already present an opportunity for gradual dollar-cost averaging. Looking ahead, the three conditions for Hong Kong stocks to once again outperform other markets are: increased expectations of Federal Reserve easing, the return of Hong Kong stock characteristics to market hotspots, and weak A-shares driving southbound funds to flow in.

Daily Economic News

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