On the 23rd, both A-shares and H-shares experienced a synchronized pullback during the morning session, driving market sentiment to a freezing point. The market's only Hong Kong Information Technology ETF (159131) opened lower, briefly fluctuated upward, then fell again, currently down 3.18%, revisiting its post-listing low. "Bottom-fishing" funds continued to flow in, with a real-time net subscription of 2 million units as of the latest update.
Within the sector, chip and semiconductor stocks, along with computer software companies, were all in negative territory. SenseTime Group fell over 5%, Hua Hong Semiconductor dropped over 4%, while SMIC, Lenovo Group, and Ubtech each declined over 3%.
Huatai Securities believes that, from a short-term perspective, the primary concern is the risk of geopolitical conflicts overseas leading to a sharp rise in oil prices and stagflation risks. They recommend increasing defensive positions. For the AI supply chain, if semiconductor hardware like memory, which corresponds to domestic and international supply gaps, experiences a pullback due to macro factors, it could present buying opportunities.
Targeting the Hong Kong chip super cycle! The Hong Kong Information Technology ETF (159131) is the market's first ETF focused on the "Hong Kong chip" industry chain and supports T+0 trading. Its underlying index is composed of "70% hardware + 30% software," heavily weighted in Hong Kong-listed "semiconductor + electronics + computer software" companies. It covers 45 Hong Kong-listed hard tech firms, with SMIC having a weight of 14.07%, Xiaomi Corporation at 12.41%, and Hua Hong Semiconductor at 7.47%. The ETF excludes large-cap internet companies like Alibaba, Tencent, and Meituan, offering sharper focus and easier capture of the Hong Kong AI hard tech trend. (Data as of March 11, 2026)
Data source: China Securities Index Company, Shanghai and Shenzhen Stock Exchanges. Note: "The market's only" refers to the sole ETF tracking the CSI Hong Kong Stock Connect Information Technology Composite Index.
Fund fee explanation: Agencies handling subscriptions and redemptions for the Hong Kong Information Technology ETF may charge a commission of up to 0.5%. On-exchange trading fees are subject to the rates set by securities firms. No sales service fee is charged.
Risk disclosure: The Hong Kong Stock Connect Information Technology ETF passively tracks the CSI Hong Kong Stock Connect Information Technology Composite Index. The index's base date is November 14, 2014, and it was launched on June 23, 2017. The index constituents mentioned in the materials are for illustrative purposes only; descriptions of individual stocks are not investment advice in any form and do not represent the holdings or trading activities of any fund managed by the fund manager. This product is issued and managed by Huabao Fund. Distribution agencies are not responsible for the investment, redemption, or risk management of the product. Investors should carefully read the "Fund Contract," "Prospectus," "Key Fund Information Summary," and other legal fund documents to understand the fund's risk-return characteristics and select products that match their own risk tolerance. Past performance of the fund does not indicate its future results. The performance of other funds managed by the fund manager does not guarantee the performance of this fund. Investing in funds carries risks and requires caution! The fund manager assesses this fund's risk level as R4 - Medium-High Risk, suitable for Aggressive (C4) and above investors. Sales 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 pay attention to the suitability assessment opinions provided by sales institutions and base their decisions on the matching results. Suitability opinions from different sales institutions may not necessarily be consistent, and the risk rating results provided by fund distribution agencies cannot be lower than the risk assessment results made by the fund manager. Differences may exist between the fund's risk-return characteristics described in the fund contract and its risk level due to different consideration factors. Investors should understand the fund's risk-return profile and choose fund products cautiously based on their own investment objectives, time 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.
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