Hong Kong Stocks AI Surge! Tencent Cloud Pricing Skyrockets, Agent Accelerates Large Model Commercialization, Huabao Fund Hong Kong Internet ETF (513770) Core Beneficiary

On March 13, Hong Kong stocks declined again, with the internet sector performing actively. The two leading giants, Alibaba-W and Tencent Holdings, rose against the trend throughout the day, with Alibaba-W once up more than 2%.

Regarding popular ETFs, the Hong Kong Stock Internet ETF (513770), known as the core tool for Hong Kong stocks, mostly rose against the trend during the day, closing down 0.22% at the end of the session. The Hong Kong Large Cap 30 ETF (520560), which features a “tech + dividend” dumbbell strategy, showed resilience, closing up 0.12%.

Looking at the Hong Kong stock trend, geopolitical tensions suggest a situation unlikely to end soon, and the overall market may still face disruptions from external uncertainties. In the tech sector, after a significant correction earlier and the rapid development of AI agents, leading internet stocks in Hong Kong are expected to benefit from both undervaluation recovery and industry transformation.

Industry news: Tencent Cloud recently announced a substantial price increase for its Mugen series large model API, with the highest increase reaching 463%. The explosion of the OpenClaw AI ecosystem has driven a rapid growth in large model token calls, directly benefiting large model vendors.

Guotou Securities pointed out that Alibaba Cloud and Tencent Cloud have launched OpenClaw cloud deployment solutions since late January, offering a full set of capabilities including models, computing power, and interactive front ends. The iteration of Agent products is creating significant business opportunities for large model and cloud service providers.

Looking ahead, in mid to late March, the latest earnings reports from Tencent Holdings, Alibaba-W, and other internet giants are expected. Capital expenditure guidance and industry policy implementation may serve as new catalysts for the sector.

Seizing the opportunity of the “AI Commercialization Year 2026,” focus on core tools for Hong Kong stocks AI. The Hong Kong Stock Internet ETF (513770) and its linked funds (Class A 017125; Class C 017126) track the CSI Hong Kong Stock Connect Internet Index, heavily weighted with internet giants like Alibaba-W, Tencent Holdings, Xiaomi Group-W, and other AI application companies across various fields, demonstrating strong leadership advantages.

Interested in Hong Kong tech stocks but want to reduce volatility? The market’s first Hong Kong Large Cap 30 ETF (520560), which employs a “tech + dividend” dumbbell strategy, holds high-elasticity tech stocks like Alibaba and Tencent, as well as stable high-dividend stocks like China Construction Bank and Ping An Insurance, making it an ideal long-term core holding for Hong Kong stocks.

Note: The first Hong Kong Large Cap 30 ETF (520560) tracks the Hang Seng China (Hong Kong-listed) 30 Index.

Reminder: Recent market volatility may be significant, and short-term gains or losses do not predict future performance. Investors should invest rationally based on their own financial situation and risk tolerance, paying close attention to position sizing and risk management.

Data sources: Shanghai and Shenzhen Stock Exchanges, etc. Institutional view: Guotou Securities 20260313 “Agent iteration brings opportunities for cloud service providers; recommended focus on Alibaba and Tencent.”

ETF fee disclosure: When subscribing or redeeming fund units, agents may charge a commission up to 0.5%, including fees from stock exchanges, registries, etc. Link fund fee details: Huabao CSI Hong Kong Stock Connect Internet ETF (A class) subscription fee (initial) is 1,000 yuan per transaction for amounts over 2 million yuan, 0.6% for 1-2 million yuan, 1% below 1 million; redemption fee is 1.5% if held less than 7 days, 0% if held 7 days or more, with no sales service fee. Huabao CSI Hong Kong Stock Connect Internet ETF (C class) has no subscription fee, with redemption fees of 1.5% if held less than 7 days, 0% if held 7 days or more; sales service fee is 0.3%.

Risk warning: The Hong Kong Internet ETF passively tracks the CSI Hong Kong Stock Connect Internet Index, which was launched on January 11, 2021, based on the index starting date of December 30, 2016. The index components are adjusted periodically according to the index rules. The stocks listed are for display only; descriptions do not constitute investment advice and do not reflect holdings or trading activity of any fund managed by the issuer. The risk level of this fund is assessed as R4—moderate to high risk, suitable for active investors (C4) and above. All information in this article (including stocks, comments, forecasts, charts, indicators, theories, etc.) is for reference only. Investors are responsible for their own investment decisions. The views, analysis, and forecasts in this article do not constitute investment advice and the issuer is not responsible for any direct or indirect losses resulting from the use of this content. Past performance of other funds managed by the fund manager does not guarantee future results. Investing in funds involves risks; please invest cautiously.