The Hang Seng Tech Index rebounded by 1.23%, with valuation still at a historical low

On April 15, 2026, the Hang Seng Tech Index closed at 4,911.79 points, rising 1.23% in a single day and hitting a near one-month high during trading. $Hang Seng TECH Index (800700.HK)$

Valuation level: As of April 8, 2026, the index's PE-TTM is 20.98 times, at the 15.75th percentile over the past five years — cheaper than more than 84% of the time in the past; the PB also offers good value. The price-to-book ratio is approximately 2.58 times, at the 2.88th percentile over the past year, lower than over 97% of the time in the past year.

[Data source: Wind, Financial World, Cailian Press (as of April 15, 2026)]

In short: The index has rebounded, but its valuation remains cheaper than 85% of the time in the past, with the PB even hovering near the bottom range over the past year.

Meanwhile, Morgan Stanley pointed out that most of the pricing adjustments for geopolitical risks, private credit concerns, and AI disruptions have already been completed. In terms of capital flows, the cumulative net inflow into ETFs related to Hang Seng Tech over the past 30 trading days exceeded 1.5 billion yuan, reflecting investor attention to the current cost-effective valuations.

[Information sources: The Paper (April 5, 2026); East Money Securities (April 15, 2026)]

The current valuation of the Hang Seng Tech Index offers good value. According to Wind statistics, since the index was launched, the historical PE median has been around 30 times, making the current level worthy of long-term allocation consideration. Capital movement trends also indicate that there has been a steady flow of incremental funds focusing on this sector recently.

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