Hard technology stocks in the Hong Kong market continued to lead gains across the board on June 15th. The Hang Seng Stock Connect Information Technology Index surged 7%, significantly outperforming the Hang Seng Tech Index by 5.7 percentage points. The largest and most liquid* ETF tracking this sector, the ChinaAMC Hang Seng Stock Connect Information Technology ETF (159131), saw its market price climb steadily throughout the session, gaining further momentum in late trading to close up 7.35%. This impressive gain ranked first among all cross-border ETFs in the market, with daily turnover exceeding 1.9 billion yuan.
Among the index constituents, KNOWLEDGE ATLAS skyrocketed by 32%, while Kingboard Laminates Holdings Ltd jumped over 22%. Ten other stocks, including Haizhi Technology Group, Innoscience, Kingboard Holdings Ltd, Lens Technology Co., Ltd, and Photosynth Technology, all rose by more than 10%.
Key Index Inclusion Drives Momentum
It is reported that KNOWLEDGE ATLAS was formally included in the underlying index of the ChinaAMC Hang Seng Stock Connect Information Technology ETF (159131) on this day, making this index one of the first major Hong Kong tech indices to incorporate the stock. Other newly added constituents include three leading hardware companies that listed in Hong Kong this year: Biren Technology, Shenghong Technology, and Tianshu Zhixin. Consequently, the number of constituents in the Hang Seng Stock Connect Information Technology Index has expanded from 52 to 60, further strengthening its hard tech focus.
Catalysts Behind the Rally
On the news front, the US government banned foreign access to two of Anthropic's most powerful AI models on national security grounds. Coinciding with this ban, domestic large language model company KNOWLEDGE ATLAS announced the full public release of its most powerful model, "GLM-5.2," starting last Saturday evening. Analysts point out that demand for cloud services and inference computing power continues to grow, with the North American cloud computing sector maintaining high growth. The iteration of domestic large models is enhancing commercial monetization capabilities. Furthermore, the AI agent industry is entering a period of rapid growth, driven by a recovery in IT spending by state-owned enterprises and the dual engine of AI localization, boosting industry sentiment.
Another key catalyst for today's explosive market performance may stem from a marginal improvement in geopolitical risks. Institutional analysis suggests that Hong Kong's growth assets had been persistently suppressed by tightening liquidity and external uncertainties. With these pressures easing today, market risk appetite has rapidly recovered. The information technology sector, characterized by higher elasticity and a more pronounced hard tech focus within Hong Kong's new economy, has seen significantly leading gains.
Strong Historical Performance
Looking at the past six months, the underlying index of the ChinaAMC Hang Seng Stock Connect Information Technology ETF (159131), which focuses on Hong Kong's hard tech sector, has delivered a cumulative return exceeding 23%. This performance has outpaced the Hang Seng Tech Index by 37%, the Hang Seng Stock Connect Technology Index by 37%, and the Hang Seng Stock Connect Internet Index by over 52%, demonstrating notably superior sharpness and elasticity.
Statistical Period: November 15, 2025, to June 15, 2026. The annual historical returns for the Hang Seng Stock Connect Information Technology Index from 2021 to 2025 were: -9.54%, -34.47%, -0.25%, 21.58%, and 39.30% respectively. Past index performance is not indicative of future results.
Product Features and Composition
Supporting T+0 trading, the ChinaAMC Hang Seng Stock Connect Information Technology ETF (159131) is the first of its kind in the market, as well as the largest and most liquid ETF in its category. Its feeder fund code is 026755. The underlying index is composed of "80% hardware + 20% software," heavily weighted towards Hong Kong-listed "semiconductors + electronics + computer software." It encompasses 60 hard tech companies listed in Hong Kong. The combined weight of the two major wafer fabrication giants, SMIC and Huahong Semiconductor, exceeds 21%, the highest among all indices with linked products in the market. The leading domestic AI PC company, Lenovo Group, holds a weight of 15.89%, also the highest index representation in the market. The combined weight of PCB leaders Kingboard Holdings Ltd and Kingboard Laminates Holdings Ltd exceeds 10%, again representing the highest concentration in any market index. The index constituents exclude large-cap internet companies such as Alibaba, Tencent, and Meituan, resulting in higher sharpness and making it easier to capture the AI hard tech trend in the Hong Kong market.
Data Source: China Securities Index Co., Ltd., Shanghai and Shenzhen Stock Exchanges.
Note: "First in the market" refers to the ChinaAMC Hang Seng Stock Connect Information Technology ETF being the first ETF to track the Hang Seng Stock Connect Information Technology Index. As of June 9, 2026, the latest on-market size of the ETF was 1.33 billion yuan, making it the largest among the eight ETFs currently tracking the index. Its average daily turnover year-to-date is 499 million yuan. The annual historical returns for the underlying index, the Hang Seng Stock Connect Information Technology Index (HKD), from 2021 to 2025 were: -9.54%, -34.47%, -0.25%, 21.58%, and 39.30% respectively. Past index performance is not indicative of future results.
Important Fund Information
Fee Description: The subscription and redemption agents for the ChinaAMC Hang Seng Stock Connect Information Technology ETF may charge a commission of up to 0.5%. On-market trading fees are subject to the actual charges by securities firms. No sales service fee is charged.
Institutional View Source: Kaiyuan Securities report titled "Nebius to be Included in Nasdaq 100 Index, KNOWLEDGE ATLAS Releases GLM-5.2 in Response to Mythos Delisting."
Risk Disclosure
The ChinaAMC Hang Seng Stock Connect Information Technology ETF and its feeder fund passively track the Hang Seng Stock Connect Information Technology Index. The base date for this index is November 14, 2014, and its release date is June 23, 2017. The index constituents mentioned in this material are for illustrative purposes only. Descriptions of individual stocks do not constitute investment advice in any form, nor do they represent the holdings or trading动向 of any fund managed by the fund manager. This product is issued and managed by China Asset Management Co., Ltd. Distributors do not assume responsibility for the investment performance or redemption of the product. Investors should carefully read the Fund Contract, Prospectus, Fund Product Key Facts Statement, and other 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 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. Distributors (including the fund manager's direct sales channels and other distributors) evaluate the fund's risk according to relevant laws and regulations. Investors should pay timely attention to the appropriateness opinions issued by distributors and base their decisions on the matching results. Appropriateness opinions from different distributors may not necessarily be consistent. The fund risk等级 evaluation results issued by fund distributors 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 characteristics as 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 profile and choose fund products结合 their own investment objectives, horizon, experience, and risk tolerance, bearing the associated risks themselves. 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.
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