On January 15, 2026, Taiwan Semiconductor Manufacturing (TSM), a global leader in wafer fabrication, released its Q4 2025 results, which significantly exceeded expectations, marking the seventh consecutive quarter of double-digit growth. The company substantially raised its capital expenditure guidance for 2026 to $52-56 billion, nearly 40% higher than previous expectations, further validating the long-term and sustainable nature of the strong demand from the artificial intelligence industry chain.
Guosen Securities indicated that driven by incremental AI demand, the variety of electronic upstream products experiencing price increases is expanding. The memory and high-end PCB supply chains continue to show a situation of demand outstripping supply. Links including wafer foundry, advanced packaging and testing, analog chips, passive components, and LCDs also show expectations for price increases of varying magnitudes. At the end-user level, price hikes are gradually being passed on to consumers, and the industry's profit levels are expected to see a moderate recovery.
Against this backdrop, during the morning session today (January 16, 2026), overall trading sentiment in the semiconductor sector was fervent, with upstream materials and equipment segments becoming a key market focus. Market enthusiasm rapidly increased, accompanied by a significant rise in trading volume. Wind data shows that as of 11:00, the intraday turnover for the STAR Market Semiconductor Equipment ETF (588710) had already reached 271 million yuan, surpassing the previous day's full-day turnover by 64%. Furthermore, capital was positioned in advance, with over 112 million yuan flowing into the STAR Market Semiconductor Equipment ETF (588710) yesterday, setting a new high for single-day net inflows since October 2025.
It is reported that the SSE STAR Semiconductor Materials & Equipment Theme Index, which the STAR Market Semiconductor Equipment ETF (588710) closely tracks, has a combined weight of 84.8% in the "Semiconductor Equipment + Semiconductor Materials" sectors. Furthermore, unlike the selection scope of some other semiconductor indices that include both Shanghai and Shenzhen listings, the STAR Semiconductor Materials & Equipment Index selects its components exclusively from the STAR Market. This more focused selection universe is expected to further amplify the index's concentration on core, hard technology.
Additionally, the manager of the STAR Market Semiconductor Equipment ETF (588710), Huatai-PineBridge Fund, is one of China's first ETF managers. Its Huatai-PineBridge SSE沪深300ETF (510300), currently the largest ETF by scale in the A-share market, officially began using its new on-exchange abbreviated name "沪深300ETF Huatai-PineBridge" on January 9, 2026. The latest scale of this product has reached 1,103.79 billion yuan, indicating high market activity, and it is the sole underlying asset for the SSE 沪深300ETF options. Furthermore, on January 11, 2026, Huatai-PineBridge Fund announced that the 沪深300ETF Huatai-PineBridge would implement a cash dividend, distributing a cash dividend of 1.23 yuan per 10 fund units. Based on the latest number of fund units, the total dividend amount may approach 11 billion yuan, potentially setting a new record for the largest single dividend payout by a domestic ETF.
Note: When investors subscribe for or redeem units of the STAR Market Semiconductor Equipment ETF or the 沪深300ETF Huatai-PineBridge, the subscription/redemption agent broker may charge a commission of up to 0.5%, which includes relevant fees charged by the stock exchange and registration institutions. The above is extracted from the product legal documents. Commissions for secondary market trading are subject to the standards set by the investor's broker; stamp duty is exempt.
Risk Warning: Funds carry risks, investment requires caution. If you intend to purchase related fund products, please pay attention to the relevant regulations on investor suitability management, complete a risk assessment in advance, and purchase fund products with a risk等级 matching your own risk tolerance based on the results. The past performance of a fund is not indicative of 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; please read the fund contract, fund prospectus, and product key facts statement carefully to understand the specific details of the fund. The STAR Market Semiconductor Equipment ETF invests in the STAR Market and will face specific risks arising from differences in investment targets, market mechanisms, and trading rules under the STAR Market system, including but not limited to the risk of significant price fluctuations in STAR Market-listed company stocks, liquidity risk, and delisting risk. The index is compiled and published by China Securities Index Co., Ltd., which owns the index. China Securities Index Co., Ltd. will take all necessary measures to ensure the accuracy of the index but does not provide any guarantee and shall not be liable for any errors in the index.
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