On April 8, easing geopolitical tensions in the Middle East boosted macroeconomic sentiment, leading to a broad-based rally in the A-share market. The Shanghai Composite Index surged approximately 100 points, approaching the 4,000 mark, while the ChiNext Index jumped nearly 6%. The STAR and ChiNext Hard Tech Broad-Based ETF (588330) saw its on-market price rise by 6.28%. Trading volume expanded significantly, with the combined turnover of the Shanghai and Shenzhen exchanges reaching 2.43 trillion yuan, an increase of 820.1 billion yuan from the previous trading day.
Market-wise, hotspots rotated rapidly, with over 5,100 stocks advancing across the board, including 135 stocks hitting the daily limit-up. The AI industry chain led the gains, with Zhongji Innolight Co.,Ltd. reaching a new historical high. The ChiNext AI ETF (159363), the largest and most liquid AI-themed ETF, soared 9.69%, attracting substantial capital inflows with net subscriptions exceeding 200 million units for the day.
In Hong Kong, the Hang Seng Tech Index rebounded 5.22%, breaking through the 4,900-point level, while the Hang Seng Index rose over 3%. Everbright Securities suggested that the Hong Kong market may experience a rebound window in the coming two weeks, with tech stocks likely to lead the recovery.
The Hong Kong Connect IT ETF (159131), the first ETF focusing on the "Hong Kong chip" industry chain, surged 7.51% with a turnover of 482 million yuan, setting new records for both daily gain and trading volume. Heavyweight Alibaba received two major positive catalysts: its food delivery business is expected to halve losses this year, and its cloud segment grew over 40% year-on-year for the first time. The Hong Kong Internet ETF (513770), a core tool for Hong Kong AI exposure, rose 6.3%.
Notably, two ChinaAMC ETFs ranked among the top five ETF gainers during the session. Precious metals also advanced, with Hunan Gold and Western Gold among the gainers. The Nonferrous Metals ETF (159876) climbed 6.31%, supported by the People's Bank of China's 17th consecutive month of gold purchases and spot gold prices exceeding $4,800 per ounce.
Huajin Securities noted that short-term external risks and pessimistic sentiment may have been largely priced in, while policy support remains favorable. They recommend focusing on sectors with positive policy and industry trends, such as communications (AI hardware), electronics (semiconductors, AI hardware), new energy (AI power, energy storage), innovative pharmaceuticals, nonferrous metals, chemicals, and defense (commercial aerospace).
**ETF Focus:** 1. **ChiNext AI ETF Soars 9.69%:** The ETF surged amid heavy trading volume, with net inflows exceeding 200 million yuan. Key holdings, including Zhongji Innolight and Xinyisheng, hit record highs. Analysts highlighted growth drivers in optical modules, computing power leasing, and AI applications. The ETF offers exposure to both computing infrastructure and AI applications.
2. **Hong Kong Connect IT ETF Rallies 7.51%:** The ETF broke through key moving averages with record turnover. All 50 constituents advanced, with 13 stocks rising over 10%. Catalysts include rising market share for domestic AI chips in China, strong 2025 earnings, and attractive valuations after a significant correction.
3. **Hong Kong Internet ETF Jumps 6.3%:** The ETF recorded its largest single-day gain since October 2024, with turnover hitting a 1.5-month high. Alibaba's strong performance and speculation around a new AI model contributed to the rally. The index's P/E ratio sits near a five-year low, suggesting potential upside.
Investors are advised to assess their risk tolerance and invest prudently amid market volatility.
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