港股大升，香港科技ETF、港股科技50ETF、恒生科技ETF升超5%
港股全線上升，廣發港股汽車ETF升超7%；華夏基金港股通汽車ETF升超6%；興銀基金香港科技ETF、海富通基金港股通科技ETF、港股通科技ETF華泰柏瑞、景順長城基金港股科技50ETF、匯添富恒生科技ETF基金、鵬華基金港股科技ETF、大成基金恒生科技ETF升超5.5%。
南下資金湧入港股。數據顯示，截至4月9日，4月以來，南向資金累計淨流入1349.63億港元，其中4月9日單日淨流入355.86億港元，創單日淨流入紀錄。從行業情況來看，Wind數據顯示，近一週南向資金加倉可選消費、信息技術、金融行業板塊金額居前，淨流入金額分別為104.58億元、97.94億元、60.13億元。此外，加倉醫療保健、能源、通訊服務、工業行業均超30億元。
Wind數據顯示，近7個交易日，阿里巴巴-W、騰訊控股、小米集團-W受到南向資金青睞，被淨買入金額居前，分別達102.72億元、102.09億元、64.62億元。美團-W、中芯國際均獲南向資金加倉超40億元，中國移動獲南向資金加倉超30億元。此外，盈富基金、恒生中國企業分別獲南向資金加倉114.28億元、72.22億元。
申萬宏源指出，南向資金的大舉入市有望系統性提升港股市場的風險偏好韌性，長期來看有望壓低隱含ERP的中樞。近期港股通資金入市速度進一步加快，4月9日以超355億港元的淨流入量續創歷史最高記錄。港股市場作為全球典型的離岸市場，其隱含ERP的波動區間明顯高於其他作為在岸市場的股市。但在港股通投資者持續大幅淨流入的背景下，港股歷史上基本面和資金面常常錯配的特徵有望進一步淡化，其離岸市場的折價有望得到明顯收斂。此外，亦需重視聯繫匯率制度下，港股以及所有中國香港特區的資產作為我國轄內唯一一個“類美元”計價資產的獨特地位和吸引力。
民生證券指出，南向資金活躍，是當下港股交易主要力量。2025年一季度南向資金成交金額佔港股總成交比例平均在57.6%，已達到歷史高位。南向資金增持主要為科技板塊，港股紅利也仍具吸引力。基於過去五年估值的歷史分位數，各板塊的低估程度排序為：恒生醫療保健>恒生消費>恒生科技>恒生高股息率。與美股MAG7相比，港股科技龍頭仍有重估向上空間；高股息板塊、消費板塊與醫藥板塊估值也都處於歷史相對低位。美元指數與中國香港市場表現之間存在明顯負相關關係。對於流動性正向衝擊（美元指數下行），恒生科技指數和恒生醫療保健指數更為敏感；對於流動性負向衝擊（美元指數上行），恒生醫療保健指數與恒生消費指數更為敏感。
興業證券全球首席策略分析師張憶東認為，二季度的調整，並不改變中國這一輪資產重估的核心邏輯。內因才是決定港A股行情大趨勢的核心變量。中長期的戰略性看多，珍惜中國資產重估進程中的調整期。這個調整期，其實也是一個冷靜期，同時也是疾風知勁草的配置期。
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