Bargain-hunting capital flowed aggressively into the market as Hong Kong's hard tech sector experienced a significant correction yesterday (March 23). The market's only* Hong Kong Information Technology ETF (159131) recorded a net inflow of 68.54 million yuan for the day, with cumulative net inflows over the past five days exceeding 120 million yuan. At the open today (March 24), the Hong Kong Information Technology ETF (159131) gapped higher and surged over 2% at one point, currently up 1.04%. A broad swath of its constituent stocks traded in positive territory, with Jushuitan rising over 4%, Naxinwei and AAC Technologies Holdings each gaining more than 3%, and Xiaomi Group advancing over 1%.
Can the Hong Kong stock market stage an oversold rebound? Guoyuan Securities analysis points out that due to Iran's demonstrated strong will to resist and political resilience, military conflicts may potentially prolong. Affected by the hostilities, the navigation capacity of the Strait of Hormuz has significantly decreased, therefore energy prices such as crude oil and natural gas may remain at relatively high levels in the short term. In this context, market concerns about a resurgence of inflation have deepened. Coupled with the possibility that the U.S. Federal Reserve might be forced to tighten monetary policy due to rising energy prices, the Hong Kong stock market faces volatility in the short term stemming from external uncertainties, and risk-off sentiment may be slow to dissipate.
Huatai Securities believes that from a short-term perspective, the risk of overseas geopolitical conflicts leading to a sharp rise in oil prices and stagflation risks is the primary concern, recommending an increase in defensive positions. If semiconductor hardware, such as memory, corresponding to supply-demand gaps in the AI chain, experiences a pullback due to broader market factors (macro beta), it could present a buying-on-dips opportunity.
Targeting the Super Cycle in Hong Kong Chip Stocks! The Hong Kong Information Technology ETF (159131) is the market's first ETF focused on the "Hong Kong chip" industry chain and offers T+0 trading. Its feeder fund code is 026755. The underlying index is composed of "70% hardware + 30% software," heavily weighted in Hong Kong-listed "Semiconductors + Electronics + Computer Software." It covers 45 Hong Kong-listed hard tech companies, with SMIC having a weight of 14.07%, Xiaomi Group-W at 12.41%, and Huahong Semiconductor at 7.47%. The ETF excludes large-cap internet enterprises like Alibaba, Tencent, and Meituan, offering higher concentration and making it easier to capture trends in Hong Kong's AI hard tech sector. (Data as of March 11, 2026)
Data source: China Securities Index Company, Shanghai and Shenzhen Stock Exchanges. Note: "The market's only" refers to being the sole ETF tracking the CSI Hong Kong Stock Connect Information Technology Composite Index.
Fund Fee Explanation: The subscription and redemption agencies 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 actually charged by securities firms. No sales service fee is charged.
Institutional Viewpoints Source: Guoyuan Securities report "Hong Kong Stock Risk Appetite Turns Cautious Amid External Geopolitical Situation"; Huatai Securities report "Hong Kong Stock Strategy: Recommend Maintaining Low Hong Kong Stock Allocation"
Risk Disclosure: The Hong Kong Information Technology ETF and its feeder fund passively track 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 this material are for illustrative purposes only; descriptions of individual stocks are not intended as investment advice in any form and do not represent the holdings or trading动向 of any fund managed by the management company. This product is issued and managed by Huabao Fund. Distributors do not assume responsibility for the investment, redemption, and risk management of the product. Investors should carefully read the "Fund Contract," "Prospectus," "Fund Product 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 is not indicative of 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. The fund manager assesses this fund's risk rating 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 timely attention to the appropriateness opinions provided by sales institutions and base their decisions on the matching results. Appropriateness opinions from different sales institutions may not necessarily be consistent, and the risk rating evaluation results for the fund product provided by fund distribution institutions shall not be lower than the risk rating evaluation result made by the fund manager. There may be differences 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 cautiously select fund products based on their own investment objectives, investment horizon, investment experience, and risk承受能力, bearing their own risks. 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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