The Stock Connect Internet ETF E Fund (513040) attracted nearly 200 million RMB yesterday, with the underlying index showing gains, rising 3.32% yesterday.

As of 10:24, the CSI HK Stock Connect Internet Index (931637) rose by 0.18%, following a 3.32% gain yesterday; among its constituents, ZhongAn Online rose 2.85%, Kingsoft Software rose 0.98%, Quzhi Group rose 0.62%, Alibaba-W rose 0.6%, and Xiaomi Group-W rose 0.58%, while Tencent Holdings fell 0.21%, Meituan fell 0.75%, Ping An Good Doctor fell 1.7%, XD Inc. fell 1.58%, China Ruyi fell 1.44%, Kingsoft Cloud fell 1.14%, and Yuewen Group fell 1%.

Data shows that the E Fund HK Stock Connect Internet ETF (513040), which tracks the CSI HK Stock Connect Internet Index, has been favored by capital,

recording a net inflow of 198 million yuan in the previous trading day. As of the previous trading day, the fund had a total net inflow of 381 million yuan over the past week and 1.012 billion yuan over the past year.

The 2026 World Artificial Intelligence Conference opened, with internet giants competing for new AI entry points.

Alibaba announced the upcoming release of its next-generation flagship model Qwen3.8, alongside the simultaneous debut of the Qianwen AI Glasses S1 series. Its AI chip, Zhenwu M890, paired with Panjiu servers, was selected as a 'treasure of the museum.' Tencent showcased its Hunyuan Hy3 large model and intelligent agent products like WorkBuddy under the theme 'Hey, My AI Buddy,' driving AI to leap from 'being able to speak' to 'being able to do.' Baidu launched the general-purpose intelligent agent 'Dazi' (DuMate), rated as a 'treasure of the museum,' and displayed the Tianchi super-node domestic computing power solution. This conference marks a shift in AI from model competition to scenario implementation, with major internet companies engaging in comprehensive competition around intelligent agent entry points.

Citi stated that as the rally led by a few AI winners this year is expected to spread to broader sectors, the Chinese market may benefit. Furthermore, if the macro environment remains favorable, including a 缓和 of geopolitical risks, there is room for further expansion.

From a valuation perspective, the latest P/E ratio of the HK Stock Connect Internet Index tracked by the E Fund HK Stock Connect Internet ETF (513040) is 20.36 times, placing it at the 7.28th percentile since the index's inception, meaning the valuation is lower than 92.72% of the periods since its establishment.

The E Fund HK Stock Connect Internet ETF (513040) closely tracks the CSI HK Stock Connect Internet Index, which selects securities of 30 listed companies involved in internet-related businesses within the scope of the HK Stock Connect as index samples. The top five weighted stocks include Alibaba, Tencent Holdings, Xiaomi Group, Meituan, and SenseTime, accounting for nearly 60% in total, with a high proportion of Hong Kong tech giants.