Southern Hang Seng Tech ETF Surges Over 3% as Wall Street Short Seller Turns Bullish on Index

Stock News15:10

The Southern Hang Seng Tech ETF (520570) saw its gains widen during the afternoon session, closing up 3.08% at 0.837 yuan, with a turnover of 127 million yuan. Market sentiment was lifted by recent comments from Michael Burry, a well-known Wall Street short seller, who stated on social media that the sharp decline in the Hang Seng Tech Index represents a rare case driven purely by multiple compression—meaning both valuation and sentiment factors. He noted that despite the index being in a bear market, the revenue and profits of its constituent companies have continued to grow steadily. This public expression of confidence in an undervalued index is unusual for the investor, who is famous for his bearish bets. Additionally, speculation has resurfaced about Middle Eastern capital returning to Hong Kong amid rising geopolitical tensions in the region. According to public information, the Southern Hang Seng Tech ETF (520570; with off-exchange share classes A 020988 and C 020989) closely tracks the Hang Seng Tech Index, which includes 30 large-cap, highly liquid technology companies listed in Hong Kong. The fund serves as a key instrument for capturing trends in Hong Kong's technology sector.

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