Trend Finance reported on May 26 that , technology stock , listed in Hong Kong, became the best performing sector in the Hang Seng Comprehensive Index this year, and the gap with A-share peers has also widened to the highest level in history. As of yesterday's closing, the Hang Seng Comprehensive Information Technology Index rose 1.1%, and the Shanghai and Shenzhen 300 Information Technology Index rose 0.2%, with the ratio of the two being 5.22.
CICC International Research Department, said that the widening of the gap may be due to the average valuation of technology stocks in the A-share market higher than that of the same type of Hong Kong stocks, and lack of industry leaders.
Bloomberg data shows that the P/E ratio of the Shanghai and Shenzhen 300 Information Technology Index is currently 40 times, while the median P/E ratio of the 41 constituent stocks in the Hang Seng Comprehensive Information Technology Industry Index is only 16 times. Tencent Holdings, the largest market capitalization among Hong Kong technology stocks, has a price-to-earnings ratio of 49 times.
Liu Taisheng believes that the strengthening of Hong Kong technology stocks is due to the improvement of the semiconductor industry last year, the good performance of China's smartphone market, and the favor of southbound funds.
Liu Taisheng said that although short selling institutions' doubts about companies such as AAC Technology may weaken the popularity of Hong Kong technology stocks in the short term, they are still more optimistic about Hong Kong technology stocks in the medium and long term. After all, the performance growth of these stocks is relatively stable.
Hang Seng Comprehensive Information Technology Index has risen 37% this year, leading the Hang Seng Comprehensive Index 16% increase. The Shanghai and Shenzhen 300 Information Technology Index rose 3% this year, which was less than the Shanghai and Shenzhen 300's increase by 5.3%.
Since the beginning of this year, the top three Hong Kong technology stocks have risen, BYD Electronics (00285.HK) has risen by 136%, IGG (00799.HK) has risen by 107%, and Tencent Holdings (00700.HK) has risen by 46%.
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