On the morning of November 25, Hong Kong-listed chip stocks opened strong, with Montage Technology soaring over 9%, followed by Fubo Group and Foxconn Interconnect Technology rising more than 6%. Meitu surged over 5%, while Lens Technology and Xiaomi Group gained over 4%. The first-ever Hong Kong Information Technology ETF (159131) tracking the "Hong Kong chip" industry chain surged 3.29% intraday, potentially ending a seven-day losing streak. As of reporting, its trading volume exceeded RMB 30 million.
Market catalysts include the U.S. White House's November 24 announcement that President Trump signed an executive order launching the "Genesis Plan," a national initiative leveraging AI to transform scientific research and accelerate discoveries. This drove overnight gains in U.S. chip stocks.
At the recent 31st China IC Design Annual Conference, Professor Wei Shaojun, Chairman of the IC Design Branch of China Semiconductor Industry Association, projected 2025 China chip design industry sales at RMB 835.73 billion, a 29.4% YoY increase. He emphasized quality improvements in chip design development.
Huaxi Securities noted that domestic AI chip development is an inevitable long-term trend, with current conditions optimal for local chipmakers. The firm remains bullish on advanced manufacturing processes and architectural upgrades boosting China's computing power share.
Industry experts highlight that many major Chinese tech firms trade at just one-third to half the valuation of U.S. peers while offering competitive AI products. Within China's tech sector, Hong Kong-listed tech stocks appear particularly undervalued. For instance, the CSI SPC Hong Kong Information Technology Index's three-year PE percentile stands at about 38%, significantly below ChiNext (83%) and Nasdaq 100 (67%).
Targeting Hong Kong's chip supercycle, the newly launched Hong Kong Information Technology ETF (159131)—the first to focus exclusively on the "Hong Kong chip" supply chain—offers T+0 trading. Its underlying index comprises 70% hardware and 30% software, heavily weighted toward semiconductors, electronics, and computer software. The ETF covers 42 Hong Kong-listed hard-tech firms, including SMIC (20.27% weighting), Xiaomi Group-W (9.11%), and Hua Hong Semiconductor (5.64%). Notably, it excludes large-cap internet stocks like Alibaba, Tencent, and Meituan, providing sharper exposure to Hong Kong's AI hardware rally (data as of October 31, 2025).
Technical indicators show MACD golden cross signals forming among select outperformers.
Sources: CSI Index Company, SSE, SZSE. Note: "First-ever" refers to the inaugural ETF tracking the CSI SPC Hong Kong Information Technology Index. The index caps single-stock weights at 15%, though market fluctuations may temporarily exceed this limit during semi-annual rebalancing. Recent volatility may persist—short-term performance doesn’t guarantee future results. Investors should assess risk tolerance and manage positions prudently.
Risk Disclosure: The ETF passively tracks the CSI SPC Hong Kong Information Technology Index (base date: November 14, 2014; launch date: June 23, 2017). Constituent data is illustrative—individual stock mentions aren’t investment advice nor reflect fund holdings. The product is issued/managed by Huabao Fund; distributors assume no investment or risk management liability. Investors must review prospectuses and fund documents to understand risks. Past performance doesn’t guarantee future returns. The fund is rated R4 (medium-high risk) for aggressive (C4+) investors. Sales institutions’ risk assessments may vary but can’t undercut the manager’s rating. Fund risk profiles differ from contractual terms—investors must independently evaluate suitability. CSRC registration doesn’t imply endorsement of the fund’s value or prospects. Investments carry risks—caution advised.
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