In early trading today, hard technology sectors led by chips and semiconductors staged a strong rebound, with the underlying index of the Hong Kong Stock Connect Information Technology ETF surging more than 3% during the session.
Among the constituent stocks, Junzheng Shares rose nearly 18% to lead gains, while Montage Technology and Fengtiao Technology climbed over 7%, and Lenovo Group Ltd (ASX: 00992), Kingboard Laminates, and Biren Technology each advanced more than 6%.
On the news front, Claude developer Anthropic officially released its IPO prospectus, and its robust revenue growth significantly eased market concerns about an "AI bubble," reigniting investor enthusiasm for going long on artificial intelligence and related semiconductor sectors. Overnight, the Philadelphia Semiconductor Index extended gains by 3.60%, marking its largest single-day advance since September 21.
Recently, the fund manager of the Hong Kong Stock Connect Information Technology ETF pointed out that Anthropic's prospectus shows AI labs are not borrowing from the future but instead hold substantial cash reserves to prepare for future orders. Data centers may not face major upheavals in the first half of next year, and computing power orders could see strong fulfillment capacity. The long-term profitability of large model companies may be far better than expected, and Zhipu, as a sentiment bellwether for pan-A-share technology stocks, could mark the starting point of expectation revisions. In terms of investment direction, sustained attention could be paid to Hong Kong information technology, ChiNext artificial intelligence, and STAR Market chips.
According to a research report from Guojin Securities, although the overall market has not "perfectly" hit bottom-range signals, some sub-sectors have already reached sufficiently deep declines with筹码 sufficiently cleared. These areas may be the first directions where funds flow back after a market rebound. Setting thresholds of declines exceeding 15% since June 30 and comprehensive crowding below 40%, 23 oversold rebound industries were screened out, concentrated in four directions: electronics (semiconductors, consumer electronics), communications (communication equipment), machinery (general equipment, automation equipment), and power equipment (grid equipment).
Hong Kong's scarce "pure-blood" hard technology! Supporting T+0 trading! The Hong Kong Stock Connect Information Technology ETF tracks the Hong Kong Stock Connect Information C Index, which is composed of approximately "80% hardware + 20% software," heavily weighted in Hong Kong's "semiconductors + electronics + computer software," covering 74 Hong Kong hard technology companies, including the "wafer foundry duo" SMIC and Hua Hong Semiconductor, "domestic AI PC leader" Lenovo Group Ltd (ASX: 00992), and "domestic large model duo" Zhipu and Minimax. The constituent stocks exclude large-cap internet companies such as Alibaba, Tencent, and Meituan, making it easier to capture Hong Kong AI hard technology trends. Additionally, investors without securities accounts can also access the over-the-counter feeder fund (026755) to gain one-click exposure to Hong Kong hard technology.
According to the fund manager's assessment, the risk level of the Hong Kong Stock Connect Information Technology ETF is R4-medium-high risk, suitable for aggressive (C4) and above investors, and the suitability matching opinion should be based on the sales institution. Recent market volatility may be significant, short-term gains or losses do not predict future performance, and fund investments may incur losses. Investors must invest rationally based on their own financial conditions and risk tolerance, paying close attention to position and risk management. [Data Source] CSI Index Company, Shanghai and Shenzhen Stock Exchanges. [ETF Fund Related Fee Description] When investors subscribe or redeem fund shares, the subscription and redemption agency may charge a commission of no more than 0.5%. On-exchange trading fees are subject to actual charges by securities companies, with no sales service fee. Huabao CSI Hong Kong Stock Connect Information Technology ETF feeder fund subscription fee is 0.30% for amounts under 1 million yuan, 0.20% for 1 million yuan (inclusive) to 2 million yuan, and 1,000 yuan per transaction for amounts above 2 million yuan (inclusive); for individual investors, 1.50% for holding periods within 7 days, and 0.00% for 7 days (inclusive) and above. For institutional investors, 1.50% within 7 days, 1.00% for 7 days (inclusive) to 30 days, 0.50% for 30 days (inclusive) to 180 days, and 0.00% for 180 days (inclusive) and above; no sales service fee is charged. Fund management fee: 0.5% per year; fund custody fee: 0.1%. Fund fee rates are detailed in each fund's legal documents. [Individual Stock Notice] The index constituent stocks mentioned in this article are for display purposes only, and individual stock descriptions do not constitute any form of investment advice, nor do they represent the holdings or trading activities of any fund under the manager. [Institutional View Source] Guojin Securities 20261025 "Imperfect Bottom." [Risk Warning] The Hong Kong Stock Connect Information Technology ETF passively tracks the CSI Hong Kong Stock Connect Information Technology Composite Index, with a base date of November 14, 2014, and published on June 23, 2017. The CSI Hong Kong Stock Connect Information Technology Composite Index (HKD) annual historical returns for 2021-2025 were: -9.54%, -34.47%, -0.25%, 21.58%, 39.30%; annual volatility for 2021-2025 was: 4.13%, 4.63%, 4.00%, 5.49%, 5.45%. Past performance of the index does not predict future performance. The composition of index constituent stocks is adjusted in due course according to the index compilation rules, and its backtested historical performance does not predict future index performance. Any information appearing in this article (including but not limited to individual stocks, comments, forecasts, charts, indicators, theories, and any form of expression) is for reference only, and investors must be responsible for their own investment decisions. Additionally, any views, analyses, and forecasts in this article do not constitute any form of investment advice to readers, nor do they bear any responsibility for direct or indirect losses caused by the use of this article's content. Fund investment involves risks, past performance of funds does not represent future performance, and the performance of other funds managed by the fund manager does not constitute a guarantee of fund performance. Fund investment requires caution. MACD golden cross signals have formed, and these stocks are rising well!
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