Hang Seng TECH Index ETF South (520570) closed up more than 3%, Wall Street big short sellers rare bullish on Hengke Index, Middle East funds returning rumors ferment in Hong Kong.

The South Hang Seng TECH Index ETF (520570) saw its afternoon gains expand, rising by 3.08% to 0.837 yuan by the end of trading with a turnover of 127 million yuan. On the news front, "The Big Short" investor Michael Burry recently publicly stated on social media, "The sharp drop in the Hang Seng TECH Index is the only case in history purely driven by multiple compression (i.e. valuation and sentiment). In fact, even in a bear market, the revenue and profits of the index's component companies have continued to grow steadily." This rare public statement from the well-known short seller suggests that a certain index is significantly undervalued. In addition, due to recent tensions in the Middle East, rumors about Middle Eastern funds returning to Hong Kong have resurfaced. Public information shows that the South Fund's Hang Seng TECH Index ETF closely tracks the Hang Seng TECH Index, covering 30 technology companies listed on the Hong Kong stock market with large market capitalization and high liquidity. It is an important tool for grasping the trend of the Hong Kong technology sector.