On the morning of November 6, A-shares and Hong Kong stocks outperformed global markets, with chip stocks leading the rally. Hygon Information Technology Co., Ltd. (688041) surged over 10%, becoming the biggest contributor to the Shanghai Composite Index's rise, while Cambricon Technologies soared over 7%, ranking second in driving the index higher.
Why the renewed surge in domestic chip stocks? Analysts attribute it partly to a recent earnings call. AMD’s CEO revealed during the Q3 earnings call that its Instinct MI308 AI chip—a strong competitor to Nvidia’s H20—has secured an export license to China. Hygon, a key AMD-related stock, has collaborated with the U.S. chipmaker since 2016.
Kaiyuan Securities highlights that amid geopolitical tensions, tech security remains a top priority, with AI and domestic substitution offering long-term growth certainty. By 2026, capital markets will transition from "asset revaluation" to "profit recovery," with technology as the dominant theme, supported by relative profitability, overseas parallels, and a synchronized global semiconductor upcycle.
Huachuang Securities notes that AI is reshaping the electronics supply chain, with surging demand for AI computing power unlocking new growth opportunities. The sector remains innovation-driven, poised for breakthroughs in end-user applications, earnings acceleration, and profit expansion.
On November 6, over ¥14.2 billion in capital flowed into the electronics sector, ranking it second among 31 Shenwan industries. The Electronic ETF (515260) surged 3.15% intraday, reclaiming its 5- and 20-day moving averages—a technical signal suggesting short-term momentum may reverse medium-term trends.
Top gainers included Dongshan Precision (+10%), Lens Technology (+8%), Cambricon, Hygon, and Sugon (all +7%), followed by Shenghong Tech and Toppan Printing.
The Electronic ETF (515260) and its feeder funds (Class A: 012550; Class C: 012551) track the CSI Electronic 50 Index, heavily weighted in semiconductors and consumer electronics, covering AI chips, automotive electronics, 5G, cloud computing, and PCBs. Top holdings include market favorites like Cambricon, Foxconn Industrial Internet, and Hygon. With policy tailwinds and AI redefining product capabilities, the sector is primed for growth.
Risk Disclosure: The Electronic ETF tracks the CSI Electronic 50 Index (base date: 2008-12-31; launch date: 2009-07-22), with constituents adjusted per index rules. Past performance doesn’t guarantee future results. Mentioned stocks are for illustration only, not as investment advice or indicative of fund holdings. The fund carries an R3-medium risk rating, suitable for balanced (C3) or higher-risk investors. Investment decisions bear individual responsibility.
Comments