The 2026 US midterm election results have landed, releasing external uncertainty in stages, and combined with a series of domestic market stabilization measures and the valuation recovery space for the tech sector after earlier corrections, A-share markets rebounded on heavy volume, with the semiconductor supply chain rebounding and upstream equipment and materials becoming one of the directions where funds concentrated inflows.
Wind data shows that the trading volume of the Huatai-PineBridge STAR Semiconductor Equipment ETF (588710) climbed to 1.972 billion yuan yesterday, a 142% increase in volume compared with the previous trading day. (Data source: Wind, as of 26/11/4; Information source: The People's Bank of China, together with the National Financial Regulatory Administration, the China Securities Regulatory Commission and other departments, successively held symposia on securities, fund and insurance company swap facilities and on stock buyback and increased holdings relending - 26/11/2)
On the news front, on November 3, the Semiconductor Industry Association (SIA) said that based on data compiled by the World Semiconductor Trade Statistics (WSTS), global semiconductor sales reached 517.7 billion US dollars in the third quarter of 2026, up 24.1% quarter on quarter. Semiconductor sales in all major regional markets showed strong growth in September. The SIA president pointed out that in the third quarter of this year, the global chip market achieved substantial growth, with global sales increasing by more than 20% quarter on quarter for a third consecutive quarter.
From November 3 to 4, 2026, the National Development and Reform Commission made clear at its "Striving for the 15th Five-Year Plan" series of press conferences that six major industries, including integrated circuits, aerospace and biomedicine, will be cultivated as key emerging pillar industries, with the goal that by the end of the 15th Five-Year Plan the overall output value of this group of industries will exceed 10 trillion yuan; integrated circuits were placed first. Data disclosed by the National Development and Reform Commission show that in the first three quarters of 2026, domestic integrated circuit output was 442.8 billion units, up 23.3% year on year. (Information source: Toutiao - National Development and Reform Commission: Integrated circuit output in the first three quarters reached 442.8 billion units, up 23.3% year on year - 26/11/4)
The central bank has stepped up implementation of the stock buyback and increased holdings relending policy. The People's Bank of China issued an announcement on November 4, saying that from November 4, 2026, the interest rate on stock buyback and increased holdings relending would be lowered by 0.25 percentage points to 1%. The support recipients of the stock buyback and increased holdings relending are 21 national banks and 5 systemically important city commercial banks, with a support ratio of 100% and a term of 1 year. On the same day, a leading domestic DRAM company sharply raised the upper limit of its buyback plan to 5 billion yuan, setting a record for the highest single buyback on the STAR Market. It is reported that since October, 24 STAR Market semiconductor companies have disclosed buyback plans, with a combined upper limit of 10.65 billion yuan, breaking through the 10 billion yuan mark. (Information source: Caiwen - STAR Market semiconductor companies' newly added buyback upper limit since October exceeds 10 billion yuan - 26/11/4)
On the industry prosperity front, South Korea's semiconductor exports in October increased by 259% year on year, providing high-frequency "hard verification" for AI computing power demand. South Korea's Ministry of Trade, Industry and Energy disclosed on November 1 that South Korea's semiconductor exports in October reached 56.4 billion US dollars, exceeding the 50 billion US dollar threshold for a second consecutive month and approaching half of South Korea's total exports. South Korean semiconductor exports are one of the most timely high-frequency indicators of the global semiconductor cycle. (Information source: Securities Times - Just now, collective gains in dark pool trading! Chips, positive news arrives - 26/11/1)
It is reported that the Huatai-PineBridge STAR Semiconductor Equipment ETF (588710) closely tracks the STAR Semiconductor Materials and Equipment Index. About 88% of the underlying index's industry exposure is focused on upstream "materials + equipment," and its "memory chip" concept content is 54% and "advanced packaging" concept content is 70%, positioning it to potentially benefit from memory capacity expansion, wafer fab capital expenditure and the domestic substitution trend. Off-exchange investors may follow its feeder fund (Class A 024974 / Class C 024975). (Concept content data source: iFind, China Securities Index Co.; industry classification is Shenwan Level 3 industry; data source: Wind; all above data are as of 26/11/4; the industries and weights to which index constituent stocks belong may change with index constituent adjustments and price movements)
Huatai-PineBridge Fund is among China's first batch of ETF managers and has been deeply engaged in index investing for nearly 20 years, creating for investors index tools with transparent exposure, convenient trading and low fees, such as the CSI 300 ETF Huatai-PineBridge (510300) and A500 ETF Huatai-PineBridge (563360). As of the end of September 2026, the company's ETFs have generated a cumulative profit of 164.6 billion yuan for holders since 2024, and its ETFs have paid cumulative dividends of 32.175 billion yuan since inception. A MACD golden cross signal has formed, and these stocks are performing well!
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