Today (March 19), both A-shares and Hong Kong stocks experienced a synchronized decline. Hong Kong's hard tech sector saw a sharp correction following yesterday's significant rally. The market's only* Hong Kong Information Technology ETF (159131) opened lower and maintained a volatile trend, with its current price down 1.5%. Notably, intraday data showed net subscriptions of 15 million units, indicating clear investor appetite for buying on the dip.
On the news front, U.S. stock markets encountered a severe sell-off on Wednesday. Higher-than-expected wholesale inflation data, combined with cautious remarks from Fed Chair Powell regarding the inflation outlook, delivered a dual blow, sharply escalating investor concerns about persistent inflation.
Galaxy Securities analysis suggests that the resilience of Hong Kong stocks stems from their status as a valuation洼地 (low-valuation area). Low valuations have attracted safe-haven capital seeking certainty. Foreign capital is choosing to enter the Hong Kong market largely due to the perceived valuation gap between Hong Kong stocks and other major global markets (such as U.S. and Japanese stocks). The low valuations of Hong Kong stocks are often accompanied by high dividend yields, which are highly attractive to safe-haven funds seeking stable cash flows.
Looking ahead over the next six months, the discretionary consumption sector is currently the area within the Hong Kong stock market with the strongest earnings growth and profitability, while the financial sector offers ample safety margins. The technology sector has demonstrated dual characteristics during this period of volatility.
Targeting the Super Cycle in Hong Kong Chip Stocks! The HK Information Technology ETF (159131) is the market's first ETF focused on the "Hong Kong chip" industry chain and offers T+0 trading. Its underlying index is composed of "70% hardware + 30% software," heavily weighted towards Hong Kong-listed "semiconductor + electronics + computer software" companies. It covers 45 Hong Kong-listed hard tech companies, including SMIC with a weight of 14.07%, Xiaomi Group-W with 12.41%, and Hua Hong Semiconductor with 7.47%. It excludes large-cap internet enterprises like Alibaba, Tencent, and Meituan, offering higher focus and making it easier to capture the AI hard tech trend in Hong Kong stocks. (Data as of March 11, 2026)
Source: CSI Index Company, Shanghai and Shenzhen Stock Exchanges. Note: "The market's only" refers to being the only ETF tracking the CSI Stock Connect Hong Kong Information Technology Composite Index. Institutional View Source: China Merchants Securities "NVIDIA GTC 2026 Tracking Report". Fund Fee Note: Subscription and redemption agents for the HK Information Technology ETF may charge a commission of up to 0.5%. On-exchange trading fees are subject to the rates charged by securities firms. No sales service fee is charged. Risk Warning: The HK Information Technology ETF passively tracks the CSI Stock Connect Hong Kong 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 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 management company. This product is issued and managed by Huabao Fund. Distribution institutions do not assume responsibility for the investment, redemption, or risk management of the product. Investors should carefully read the "Fund Contract," "Prospectus," "Fund Product Summary," and other legal documents to understand the fund's risk-return characteristics and choose a product suitable for their own risk tolerance. Past performance of the fund does not predict its future results. The performance of other funds managed by the fund manager does not guarantee the performance of this fund. Fund investment carries risks and must be approached cautiously! The fund manager assesses this fund's risk rating as R4 - Medium-High Risk, suitable for Aggressive (C4) and above investors. Distribution 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 appropriateness opinions provided by distribution institutions and base their decisions on the matching results. Appropriateness opinions may vary among distributors, and the risk rating results provided by fund distributors shall not be lower than the risk rating assessment result made by the fund manager. Differences may exist between the fund's risk-return characteristics described in the fund contract and its risk rating due to different consideration factors. Investors should understand the fund's risk-return profile and carefully select fund products based on their investment objectives, horizon, experience, and risk tolerance, bearing their own risks. The CSRC'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, and these stocks are performing well!
