On the morning of March 31, 2026, reports indicated that the U.S. President expressed willingness to end military action against Iran even if the Strait of Hormuz remains largely closed. This statement conveyed positive signals of easing geopolitical tensions, significantly improving market risk sentiment. As an offshore market, Hong Kong stocks opened higher but experienced fluctuations, driving active performance in products such as Huatai-PineBridge's Hang Seng Tech ETF (513130).
Recently, the Hong Kong technology sector has shown periodic volatility due to multiple factors. On one hand, escalating global geopolitical uncertainties have heightened expectations for liquidity tightening. As an offshore market, Hong Kong stocks are highly sensitive to external liquidity changes, with the tech sector facing more pronounced marginal impacts. On the other hand, amid the annual earnings reporting season and a peak in restricted share releases in March, market concerns over uncertainties in tech sector performance have intensified, putting short-term pressure on risk appetite and amplifying sector fluctuations.
However, China Securities Co., Ltd. pointed out that the recent adjustments in Hong Kong stocks have primarily affected market valuations and short-term risk sentiment, without necessarily disrupting the core trend of earnings recovery. In terms of external liquidity, recent statements from TACO have signaled marginal improvements, with signs of easing pressure from external liquidity and market sentiment, suggesting that the current period may represent a noteworthy allocation opportunity.
Amid the correction in the Hong Kong tech sector, market participants have maintained a contrarian investment stance. Wind data shows that, as of March 30, 2026, Huatai-PineBridge's popular Hang Seng Tech ETF (513130) recorded net capital inflows in 45 out of 55 trading days since the beginning of the year, with cumulative inflows reaching RMB 14.2 billion. It was the only ETF tracking the Hang Seng Tech Index to attract over RMB 11 billion during this period, underscoring long-term market confidence in the sector.
As the Hong Kong earnings season nears its end, uncertainties surrounding corporate performance have largely been priced in. Additionally, several companies have initiated share buybacks, with both the volume and value of repurchases increasing significantly, providing market support. Meanwhile, regulatory authorities have strengthened anti-unfair competition oversight, which may alleviate profit pressures from subsidy-driven competition and help improve earnings in the tech sector.
From a valuation perspective, the Hang Seng Tech Index currently trades at a price-to-earnings ratio of 21.54 times, near the lower quartile of its five-year range at the 24.53% percentile. Historically, the index has been in a correction phase since October 2025, with a maximum drawdown of 29.81% over the past six months, exceeding the full-year drawdown in 2025. This suggests that valuations may have largely absorbed prior negative expectations, potentially setting the stage for a valuation rebound. Huatai-PineBridge's Hang Seng Tech ETF (513130) and its feeder funds (Class A 015310, Class C 015311) may present long-term allocation opportunities.
As a widely followed ETF tracking the Hang Seng Tech Index, Huatai-PineBridge's Hang Seng Tech ETF (513130) stands out for its substantial size and liquidity advantages, making it a mainstream choice for investors seeking exposure to Hong Kong tech assets. As of March 30, 2026, the ETF's total assets under management reached RMB 48.851 billion, with an average daily turnover exceeding RMB 5.8 billion year-to-date. It is the only ETF tracking the Hang Seng Tech Index with an average daily turnover above RMB 5.2 billion, while maintaining a low management fee of 0.2%, offering cost-effective investment benefits.
According to a Huatai-PineBridge Fund announcement, starting March 18, 2026, all of the company’s ETF products have adopted standardized naming conventions, completing the establishment of the "ETF Huatai-PineBridge" brand portfolio to help investors easily identify specialized products. As one of China’s earliest ETF managers, Huatai-PineBridge has nearly two decades of experience in index investing and has received the "Passive Investment Golden Bull Fund Company" award eight times.
MACD golden cross signals have formed, indicating positive momentum for certain stocks.
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