Hong Kong stocks' new economy sector rebounds across the board, with pharmaceuticals and consumer sectors leading the gains. E Fund's Hong Kong stock ETF receives net capital inflow.

NightAirdropper · 2026-03-27T15:24:32+00:00

On March 24th, the Hong Kong stock market rebounded, with new economy-related sectors rising strongly, led by pharmaceuticals and consumer sectors. Data shows that the valuations of various indices are at mid-to-low levels, attracting capital inflows. Huatai Securities pointed out that the medium- to long-term allocation has obvious value, but also warned that investors should exercise caution.

NightAirdropper

2026-03-27 15:24:32

Abstract generation in progress

On March 24, the Hong Kong stock market welcomed a comprehensive recovery, with the new economy sectors performing strongly, led by the pharmaceutical and consumer sectors: The CSI Hong Kong Stock Connect Pharmaceutical and Health Comprehensive Index surged by 3.8%, the CSI Hong Kong Stock Connect Consumer Theme Index rose by 3.7%, the Hang Seng Hong Kong Stock Connect New Economy Index increased by 3.1%, and the Hang Seng Tech Index and the CSI Hong Kong Stock Connect Internet Index rose by 2.5% and 2.4%, respectively.

According to Wind data, as of March 23, 2026, based on index characteristics and valuations:

Hang Seng Hong Kong Stock Connect New Economy Index: Rolling P/E ratio of 22.7 times, with a valuation percentile of 37.4% since its launch in 2018, covering the information technology, consumer discretionary, and healthcare sectors;

Hang Seng Tech Index: Rolling P/E ratio of 20.8 times, with a valuation percentile of 13.3% since its launch in 2020, with information technology and consumer discretionary industries accounting for over 90%;

CSI Hong Kong Stock Connect Pharmaceutical and Health Comprehensive Index: Rolling P/E ratio of 35.3 times, with a valuation percentile of 55.3% since its launch in 2017, with the healthcare industry accounting for over 90%;

CSI Hong Kong Stock Connect Internet Index: Rolling P/E ratio of 21.4 times, with a valuation percentile of 6.9% since its launch in 2021, focusing on 30 leading internet companies;

CSI Hong Kong Stock Connect Consumer Theme Index: Rolling P/E ratio of 15.9 times, with a valuation percentile of 0.0% since its launch in 2020, with consumer discretionary accounting for over 65%.

In terms of capital flow, as of March 23, the Hang Seng Tech ETF from E Fund (513010, linked fund A/C: 013308/013309) and the Hong Kong Stock Connect Internet ETF from E Fund (513040, linked fund A/C: 019313/019314) received net inflows of 330 million yuan and 150 million yuan, respectively.

Huatai Securities pointed out that after the adjustment of Hong Kong stock heavyweights, valuations are at a mid-to-low level, combined with high dividends and cyclical advantages, coupled with short positions being covered to support the market, highlighting the long-term allocation value.

Risk warning: Investment in funds carries risks; investors should exercise caution.

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