On June 1st, internet software stocks staged a long-awaited rally, with the HK Connect Information C Index, which focuses on Hong Kong's "hard tech" sector, initially surging before paring gains to close up 0.74%. The largest and most liquid* ETF tracking this space, the HK Connect Information Technology ETF (159131), saw its intraday gains exceed 3% before weakening, yet it still managed to close resiliently in positive territory. Daily turnover surpassed 2.1 billion yuan, with a turnover rate of 155%, indicating sustained active trading.
Among the constituents, computer software stocks, with a combined weighting of 20%, led the gains. Meitu Inc. soared over 26%, Kingdee International Software Group jumped more than 19%, while companies like Jushuitan, Longcheer Technology, and Lens Technology all rose over 10%. The top-weighted constituent, Lenovo Group, closed up 5%, reaching a new all-time high since its listing.
On the news front, on May 29th, official accounts of NVIDIA, Microsoft, and Arm simultaneously released teaser posts for "A new era of PC." At the GTC conference, Jensen Huang officially unveiled the Windows-specific processor, RTX Spark. Analysis suggests that as Microsoft continues to advance its Copilot+ PC ecosystem, NVIDIA's involvement in this core platform development is expected to enhance overall computing power on the Microsoft client side, accelerating the penetration of AI into end-user devices.
Dell Technologies closed up over 32% last Friday, also hitting a record high. Dell raised its full-year revenue forecast to a range of $165 billion to $169 billion, up from a previous expectation of $138 billion to $142 billion. The company also increased its fiscal 2027 AI server revenue forecast from approximately $50 billion to about $60 billion. According to Frost & Sullivan data, the global AI server shipment compound annual growth rate from 2020 to 2024 reached 45.2%, with shipments hitting 2 million units in 2024 and projected to grow to 6.5 million units by 2030.
Further analysis points out that Lenovo's business, being a core link in the AI field and one of the few technology companies with significant operations in both China and the US, is poised to benefit continuously from the concurrent development waves of hybrid AI in both nations. It may represent the greatest common denominator for AI technology development between the US and China.
Looking at its performance over the past six months, the underlying index of the HK Connect Information Technology ETF (159131) – the CSI HK Connect Information Technology Composite Index – has accumulated gains exceeding 23%. In contrast, the Hang Seng Tech Index and the HK Connect Tech Index rose by -12.77% and -9.68% respectively over the same period, demonstrating significantly sharper performance and greater elasticity.
Statistical period: Dec 1, 2025 - Jun 1, 2026. The annual historical returns for the HK Connect Information C Index from 2021 to 2025 were: -9.54%, -34.47%, -0.25%, 21.58%, 39.30%. Past index performance is not indicative of future results.
Supporting T+0 trading! Focusing on Hong Kong's hard tech sector – the first, largest, and most liquid* HK Connect Information Technology ETF (159131), with its feeder fund code 026755. Its underlying index is composed of "80% hardware + 20% software," heavily weighted towards Hong Kong-listed "semiconductors + electronics + computer software." It covers 52 Hong Kong-listed hard tech companies, with its top constituent, Lenovo Group, having a weight of 16.10%. This is currently the index with the highest exposure to Lenovo Group among all indices with linked products in the market. The index constituents exclude large-cap internet companies like Alibaba, Tencent, and Meituan, offering higher sharpness and making it easier to capture trends in Hong Kong's AI hard tech sector. (Data as of May 29, 2026)
Data source: CSI Index Company, Shanghai and Shenzhen Stock Exchanges.
Note: "First in the market" refers to the HK Connect Information Technology ETF (159131) being the first ETF to track the CSI HK Connect Information Technology Composite Index. As of May 29, 2026, the latest on-exchange size of the HK Connect Information Technology ETF (159131) was 1.346 billion yuan, making it the largest among the 8 ETFs currently tracking the CSI HK Connect Information Technology Composite Index. Its average daily turnover year-to-date is 372 million yuan. The annual historical returns for the underlying index, the CSI HK Connect Information Technology Composite Index (HKD), from 2021 to 2025 were: -9.54%, -34.47%, -0.25%, 21.58%, 39.30%. Past index performance is not indicative of future results.
Fund Fee Explanation: Subscription and redemption agents for the HK Connect Information Technology ETF (159131) may charge a commission of up to 0.5%. On-exchange trading fees are subject to the actual charges by securities firms. No sales service fee is charged.
Institutional View Source: Huaxi Securities - 'NVIDIA Expected to Accelerate AI Penetration into Client-Side PCs'
Risk Disclosure: The HK Connect Information Technology ETF (159131) and its feeder fund passively track the CSI HK Connect Information Technology Composite Index. The base date for this index is November 14, 2014, and it was launched on June 23, 2017. The index constituents mentioned in the material are for illustrative purposes only. Descriptions of individual stocks do not constitute any form of investment advice and do not represent the holdings or trading动向 of any fund managed by the fund manager. This product is issued and managed by China Universal Asset Management. Distributing institutions do not bear responsibility for the investment or redemption of the product. Investors should carefully read the "Fund Contract," "Prospectus," "Fund Product Key Facts Statement," and other fund legal documents to understand the fund's risk-return characteristics and choose a product suitable for their own risk tolerance. Past fund performance does not predict its future results. The performance of other funds managed by the fund manager does not guarantee the performance of this fund. Fund investment involves risks! The fund manager assesses this fund's risk等级 as R4 - Medium to High Risk, suitable for Aggressive (C4) and above investors. Distributing institutions (including the fund manager's直销机构 and other distributing institutions) evaluate this fund's risk according to relevant laws and regulations. Investors should pay timely attention to the appropriateness opinions issued by distributing institutions and base their decisions on the matching results. Appropriateness opinions from different distributing institutions may not necessarily be consistent, and the fund product risk等级 evaluation results issued by fund distributing institutions shall not be lower than the risk等级 evaluation results made by the fund manager. There may be differences between the fund's risk-return特征 described in the fund contract and its risk等级 due to different考虑因素. Investors should understand the fund's risk-return situation,结合自身投资目的,期限,投资经验及风险承受能力谨慎选择基金产品并自行承担风险. The China Securities Regulatory Commission's registration of this fund does not indicate a substantive judgment or guarantee of its investment value, market prospects, or returns. Funds carry risks; investment requires caution.
A MACD golden cross signal has formed, with these stocks performing well!
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