--- title: "Enterprise software and AI applications are in an accelerating penetration phase; the Huaxia Stock Connect Internet ETF (520910) maintained strong momentum in the morning session." type: "Topics" locale: "en" url: "https://longbridge.com/en/topics/43150788.md" description: "On August 3, the Hong Kong stock market's internet sector continued its strong performance in the morning session. The Huaxia (520910) Stock Connect Internet ETF, which offers the lowest fee tier among similar products, is currently up over 2%. Among its holdings, Kingsoft Cloud led the gains with an increase of over 7%, followed by Alibaba, which rose over 6%, while Kingdee International and SenseTime both gained more than 5%. As of July 31, the scale of the Huaxia (520910) Stock Connect Internet ETF reached 514 million yuan. On the news front, Microsoft Azure's revenue grew by 43% year-on-year..." datetime: "2026-08-03T09:04:37.000Z" locales: - [en](https://longbridge.com/en/topics/43150788.md) - [zh-CN](https://longbridge.com/zh-CN/topics/43150788.md) - [zh-HK](https://longbridge.com/zh-HK/topics/43150788.md) author: "[同壁财经](https://longbridge.com/en/profiles/26505347.md)" generator: "portal-rs" --- # Enterprise software and AI applications are in an accelerating penetration phase; the Huaxia Stock Connect Internet ETF (520910) maintained strong momentum in the morning session. On August 3, the Hong Kong stock market's internet sector maintained strong momentum in early trading. The Huaxia Stock Connect Internet ETF (520910), which offers one of the lowest fee tiers among similar products, rose by over 2%. Among its holdings, Kingsoft Cloud led the gains with an increase of over 7%, followed by Alibaba, which rose by over 6%, while Kingdee International and SenseTime both gained more than 5%. As of July 31, the assets under management for the Huaxia Stock Connect Internet ETF (520910) reached 514 million yuan. In terms of news, Microsoft Azure's revenue grew by 43% year-on-year, significantly exceeding the market expectation of 39.6%. Amazon Web Services (AWS) reported a 37% year-on-year revenue growth to $42.2 billion, marking a new high for 18 consecutive quarters, and raised its full-year capital expenditure guidance to $220 billion. Meta further disclosed that it has committed nearly $700 billion in future expenditures through long-term agreements, directed towards AI data centers and cloud computing. The combined capex ceilings for the four tech giants in 2026 are approaching $750 billion. Industry analysts suggest that the most significant signal from this earnings season is the real-world validation of the entire chain: "AI investment -> Cloud revenue -> Subscription monetization." Domestically, Alibaba's Tongyi Qianwen large model saw daily API calls exceed 1.4 trillion tokens, setting a new global record for single-day usage on third-party platforms. Tencent Cloud's Vice President explicitly stated at WAIC that enterprise-level agent demand this year will see "at least double-digit year-on-year growth," and unveiled self-developed chips (Zixiao 2.0), a 100,000-card intelligent computing cluster, and the overseas version of the Agent Platform ADP 4.0. Alibaba also showcased Qwen3.7-Max, the coding agent Qoder, and the enterprise platform AgentOne. The trend of enterprises heavily utilizing APIs and deploying agents is occurring simultaneously in both China and the US. Enterprise software and AI applications are in an acceleration phase of penetration, establishing the narrative for China's domestic cloud computing industry chain. The Huaxia Stock Connect Internet ETF (520910) tracks the CSI Stock Connect Internet Index, precisely covering core internet sectors such as e-commerce platforms, content ecosystems, social media, and software services. With a high proportion of AI applications, it aligns well with the industrial deepening path where AI drives the upgrade of internet business models. The Hang Seng Tech ETF Huaxia (513180) closely tracks the Hang Seng Tech Index, which represents the top 30 screened Hong Kong-listed companies highly relevant to technology themes. It effectively captures the growth opportunities of Hong Kong's tech leaders and serves as a powerful tool for investors to conveniently seize the recovery trends in the Hong Kong tech sector. ### Related Stocks - [00268.HK](https://longbridge.com/en/quote/00268.HK.md) - [03896.HK](https://longbridge.com/en/quote/03896.HK.md) - [KC.US](https://longbridge.com/en/quote/KC.US.md) - [09988.HK](https://longbridge.com/en/quote/09988.HK.md) - [BABA.US](https://longbridge.com/en/quote/BABA.US.md) - [89988.HK](https://longbridge.com/en/quote/89988.HK.md) - [KBAB.US](https://longbridge.com/en/quote/KBAB.US.md) - [BABO.US](https://longbridge.com/en/quote/BABO.US.md) - [BABX.US](https://longbridge.com/en/quote/BABX.US.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**