During the morning session on May 22, Hong Kong-listed hard tech stocks led the market with strong gains.
On the news front, a significant positive development for domestic chips emerged during the trading session. On May 22, Li Chao, Deputy Director of the Policy Research Office and Spokesperson for the National Development and Reform Commission, stated at a press conference that both core technologies and application demands in the artificial intelligence field are showing rapid growth. The government adheres to a systematic layout, differentiated implementation, open sharing, and secure controllability, promoting the deep integration of AI with various sectors of the economy and society. It will guide domestic large-scale models to intensify their adaptation to domestically produced computing power chips, ensuring independent and controllable development, positive and stable progress, and allowing all people to share in the fruits of AI development. This is a prominent feature of China's AI development, he said.
Guojin Securities noted that judging from the better-than-expected earnings of multiple companies in the AI industry chain, the rapid iteration of Google's TPU, the explosive revenue growth of Anthropic, TSMC's accelerated expansion of advanced process capacity for AI chips, major CSPs securing long-term agreements for storage capacity, and rising GPU rental prices, the demand for AI appears very robust in both the short and medium term. The firm is optimistic about AI-related copper-clad laminates/PCBs, core computing hardware, and semiconductor equipment.
Since rebounding from its bottom on March 31, the underlying index of the Hong Kong Stock Connect Information Technology ETF (159131) – the CSI Hong Kong Stock Connect Information Technology Composite Index – has accumulated a gain of 24.68%. In the same period, the Hang Seng Tech Index and the Hong Kong Stock Connect Technology Index rose by only 1.68% and 0.69% respectively, highlighting the former's sharper rally and greater elasticity.
Statistical Period: 2026.3.31-2026.5.21. The annual historical returns of the Hong Kong Stock Connect Information Technology Index from 2021 to 2025 were: -9.54%, -34.47%, -0.25%, 21.58%, and 39.30% respectively. Past index performance is not indicative of future results.
Supporting T+0 trading! Targeting Hong Kong's chip super cycle – the Hong Kong Stock Connect Information Technology ETF (159131) is the first of its kind in the market, the largest and most liquid in its category. Its feeder fund code is 026755. The underlying index is composed of "70% hardware + 30% software," heavily weighted towards Hong Kong-listed "semiconductor + electronics + computer software" stocks. It covers 52 hard tech companies, with storage chip exposure exceeding 26%. Key holdings include SMIC with a weight of 14.21%, Xiaomi Group-W at 10.31%,
Data Source: China Securities Index Co., Ltd., Shanghai and Shenzhen Stock Exchanges. Note: "First in the market" refers to the Hong Kong Stock Connect Information Technology ETF (159131) being the first ETF to track the CSI Hong Kong Stock Connect Information Technology Composite Index. As of May 19, 2026, the ETF's latest on-exchange size was 7.75 billion yuan, making it the largest among the 7 ETFs currently tracking the index. Its average daily turnover year-to-date is 1.66 billion yuan. The annual historical returns of the underlying CSI Hong Kong Stock Connect Information Technology Composite Index (HKD) from 2021 to 2025 were: -9.54%, -34.47%, -0.25%, 21.58%, and 39.30% respectively. Past index performance is not indicative of future results. Fund Fee Explanation: The subscription and redemption agents for the Hong Kong Information Technology ETF may charge a commission of up to 0.5%. On-exchange transaction fees are subject to the actual charges by securities firms. No sales service fee is charged. Risk Disclosure: The Hong Kong Stock Connect Information Technology ETF and its feeder fund passively track the CSI Hong Kong Stock Connect Information Technology Composite Index, which has a base date of November 14, 2014, and was launched on June 23, 2017. The index constituents mentioned in this material are for illustrative purposes only. Descriptions of individual stocks do not constitute investment advice in any form and do not represent the holdings or trading intentions of any fund managed by the fund manager. This product is issued and managed by China Universal Asset Management. Distributing institutions do not bear responsibility for the product's investment, redemption, or risk management. Investors should carefully read the Fund Contract, Prospectus, Product Key Facts Statement, and other legal fund documents to understand the fund's risk-return characteristics and choose a product suitable for their own risk tolerance. Past fund performance does not predict future results. The performance of other funds managed by the fund manager does not guarantee the performance of this fund. Fund investment involves risks! The fund manager assesses this fund's risk level as R4 - Medium to High Risk, suitable for Aggressive (C4) and above investors. Distributing institutions (including the fund manager's direct sales channels and other distributors) evaluate the fund's risk according to relevant laws and regulations. Investors should promptly pay attention to the appropriateness opinions provided by distributing institutions and base their decisions on the matching results. Appropriateness opinions from different distributing institutions may not be consistent. The fund product risk rating results issued by fund distributors shall not be lower than the risk rating results determined by the fund manager. There may be differences between the fund's risk-return characteristics as described in the Fund Contract and its risk rating due to different consideration factors. Investors should understand the fund's risk-return profile and choose fund products prudently based on their own investment objectives, horizon, experience, and risk tolerance, bearing the risks themselves. The China Securities Regulatory Commission's registration of this fund does not indicate a substantive judgment or guarantee of its investment value, market prospects, or returns. Funds carry risks; investment requires caution.
MACD Golden Cross signals have formed, with these stocks performing well!
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