Strong rebound???? lol. Garbag

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Strong rebound???? lol. Garbage index with rubbish companies specializing in involutions! How do jog expect this index to even rise unless more new tech companies with strong growth are included.

Hong Kong Hard Tech Stocks Stage Strong Rebound! Largest HK Connect IT ETF Hua Bao (159131) Surges 2% Intraday, SMIC Soars 7%

On May 20, Hong Kong's hard technology sector staged a significant rebound after four consecutive days of decline. Leading companies such as SMIC and Huahong Semiconductor surged over 7% and 6%,...

Hong Kong Hard Tech Stocks Stage Strong Rebound! Largest HK Connect IT ETF Hua Bao (159131) Surges 2% Intraday, SMIC Soars 7%

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{"i18n":{"language":"en_US"},"data":{"magic":2,"id":566206096343160,"tweetId":"566206096343160","gmtCreate":1779257461001,"gmtModify":1779257660594,"author":{"id":3585103080334372,"idStr":"3585103080334372","authorId":3585103080334372,"authorIdStr":"3585103080334372","name":"Heng98","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":12,"crmLevelSwitch":0,"currentWearingBadge":{"badgeId":"44212b71d0be4ec88898348dbe882e03-2","templateUuid":"44212b71d0be4ec88898348dbe882e03","name":"Executive Tiger","description":"The transaction amount of the securities account reaches $300,000","bigImgUrl":"https://static.tigerbbs.com/9d20b23f1b6335407f882bc5c2ad12c0","smallImgUrl":"https://static.tigerbbs.com/ada3b4533518ace8404a3f6dd192bd29","grayImgUrl":"https://static.tigerbbs.com/177f283ba21d1c077054dac07f88f3bd","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.10.09","exceedPercentage":"80.48%","individualDisplayEnabled":0},"individualDisplayBadges":[],"wearingBadges":[],"fanSize":4,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"title":"","html":"<html><head></head><body><p>Strong rebound???? lol. Garbage index with rubbish companies specializing in involutions! How do jog expect this index to even rise unless more new tech companies with strong growth are included.&nbsp;</p></body></html>","htmlText":"<html><head></head><body><p>Strong rebound???? lol. Garbage index with rubbish companies specializing in involutions! How do jog expect this index to even rise unless more new tech companies with strong growth are included.&nbsp;</p></body></html>","text":"Strong rebound???? lol. Garbage index with rubbish companies specializing in involutions! How do jog expect this index to even rise unless more new tech companies with strong growth are included.","highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/566206096343160","repostId":1191304637,"repostType":2,"repost":{"id":"1191304637","kind":"news","weMediaInfo":{"introduction":"Global Stock Market Deep Analysis","home_visible":1,"media_name":"Deep News","id":"1039043262","head_image":"https://community-static.tradeup.com/news/8296859682db4b478146245e72de1922"},"pubTimestamp":1779243194,"share":"https://ttm.financial/m/news/1191304637?lang=en_US&edition=fundamental","pubTime":"2026-05-20 10:13","market":"sg","language":"en","title":"Hong Kong Hard Tech Stocks Stage Strong Rebound! Largest HK Connect IT ETF Hua Bao (159131) Surges 2% Intraday, SMIC Soars 7%","url":"https://stock-news.laohu8.com/highlight/detail?id=1191304637","media":"Deep News","summary":"On May 20, Hong Kong's hard technology sector staged a significant rebound after four consecutive days of decline. Leading companies such as SMIC and Huahong Semiconductor surged over 7% and 6%,...","content":"<p>On May 20, Hong Kong's hard technology sector staged a significant rebound after four consecutive days of decline. Leading companies such as SMIC and Huahong Semiconductor surged over 7% and 6%, respectively. Mirroring this rally, the largest and most liquid* Hong Kong Stock Connect Information Technology ETF Hua Bao (159131) saw its intraday price surge sharply, at one point gaining over 2%, with real-time turnover reaching 1.6 billion yuan.</p>\n<p>This rebound in Hong Kong's hard tech sector is underpinned by solid fundamentals. Taking chip leader SMIC as an example, its Q1 2026 revenue reached $2.51 billion, a sequential increase of 0.7%, with a gross margin of 20.1%, up 0.9 percentage points sequentially, both exceeding market expectations. Analysis from Bank of Communications International suggests that a 2.5% sequential increase in the composite price of its wafer foundry business was likely a key driver. Demand growth driven by AI is notably accelerating, evident in several areas: 1) Supply constraints for supporting circuits (e.g., PMIC products) that serve as AI infrastructure; 2) A siphon effect as overseas capacity shifts to higher-margin AI-related products, leading to the return of some consumer product lines to the company; 3) Rising demand for new AI applications, including Time-of-Flight (ToF) sensors, robotics, and electric vehicles; 4) Domestic manufacturers seeking local solutions amid overall supply tightness. The AI-driven supply-demand imbalance may be stronger than previously anticipated by the market.</p>\n<p>Since its rebound from the low point on March 31, the underlying index of the Hua Bao (159131) ETF—the CSI Hong Kong Stock Connect Information Technology Composite Index—has accumulated a gain of 22.66%. In the same period, the Hang Seng Tech Index and the Hong Kong Stock Connect Tech Index rose by only 3.57% and 1.65%, respectively, highlighting the former's significantly sharper performance and greater elasticity.</p>\n<p>Statistical period: March 31, 2026, to May 19, 2026. The annual historical returns for the Hong Kong Stock Connect Information Technology C Index from 2021 to 2025 were: -9.54%, -34.47%, -0.25%, 21.58%, and 39.30%, respectively. Past index performance does not indicate future results.</p>\n<p>Why has the Hang Seng Tech Index \"lagged behind\"? Galaxy Securities analysis points out that the gains and losses of the Hang Seng Tech Index are largely driven by a few leading companies within its constituents, particularly those in the information technology and consumer discretionary sectors. On a macro level, outflows from the Hang Seng Tech Index coincided with heightened expectations for Federal Reserve tightening and escalating geopolitical risks. At the industry level, several factors contributed: first, declines in heavyweight components were partly due to ByteDance directly impacting the profit expectations and market share of some index members. Second, intensified internal competition among these heavyweights, such as the \"food delivery wars\" and \"red envelope wars,\" consumed significant capital. Third, the HALO trading strategy further exacerbated the decline of individual Hang Seng Tech stocks. The index composition is dominated by internet platform companies and consumer electronics firms, resulting in a relatively low \"hard tech\" concentration and a stronger consumer orientation.</p>\n<p>Supporting T+0 Trading! Targeting the Super Cycle in Hong Kong Chips—The Hua Bao (159131) ETF is the first and largest of its kind, offering superior liquidity among Hong Kong Stock Connect Information Technology ETFs. Its feeder fund code is 026755. The underlying index is structured as \"70% hardware + 30% software,\" heavily weighted towards Hong Kong-listed \"semiconductors, electronics, and computer software.\" It encompasses 52 hard tech companies, with SMIC holding a weight of 14.21%, Xiaomi Group-W at 10.31%, Lenovo Group at 9.33%, and Huahong Semiconductor at 8.82%. Notably, it excludes large-cap internet giants like Alibaba, Tencent, and Meituan, providing greater focus and making it more effective for capturing the AI hard tech trend in Hong Kong markets. (Data as of May 5, 2026)</p>\n<p>Data source: China Securities Index Co., Ltd., Shanghai and Shenzhen Stock Exchanges.\nNote: \"First in the market\" refers to the Hua Bao (159131) ETF being the first ETF to track the CSI Hong Kong Stock Connect Information Technology Composite Index. As of May 11, 2026, the latest on-exchange size of the Hua Bao (159131) ETF was 8.28 billion yuan, making it the largest among the 7 ETFs currently tracking the CSI Hong Kong Stock Connect Information Technology Composite Index. Its year-to-date average daily turnover 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 does not indicate future results.\nFund Fee Information: Subscription and redemption agents for the Hua Bao 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.\n*Institutional views referenced from: Galaxy Securities report \"Deconstructing the Hang Seng Tech 'Lag': Trapped Beast or Hidden Dragon?\"; Bank of Communications International report \"Q2 2026 Guidance Exceeds Expectations, AI's Overall Demand Driving Effect Highlights; Target Price Raised.\"\nRisk Disclosure: The Hua Bao (159131) ETF and its feeder fund passively track the CSI Hong Kong Stock Connect Information Technology Composite Index. The index base date is November 14, 2014, and its release date was June 23, 2017. The index constituents mentioned herein are for illustrative purposes only. Descriptions of individual stocks do not constitute any form of investment advice nor represent the holdings or trading activities of any fund managed by the fund manager. This product is issued and managed by Hua Bao Fund Management Co., Ltd. Selling agencies do not bear responsibility for the investment, redemption, or risk management of the product. Investors should carefully read the Fund Contract, Prospectus, Product Key Facts Statement, and other legal documents to understand the fund's risk-return characteristics and choose products 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. Selling institutions (including the fund manager's direct sales channels and other selling agencies) evaluate this fund's risk according to relevant laws and regulations. Investors should promptly pay attention to the appropriateness opinions provided by selling institutions and base their decisions on the matching results. Appropriateness opinions may differ among selling institutions, and the risk rating results provided by fund selling institutions shall not be lower than the risk rating result determined by the fund manager. The description of the fund's risk-return characteristics in the fund contract and its risk rating may differ due to different considerations. Investors should understand the fund's risk-return profile and, considering their own investment objectives, horizon, experience, and risk tolerance, make prudent investment decisions and bear the risks independently. 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.</p>\n<p>A MACD golden cross signal has formed, and these stocks are performing well.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hong Kong Hard Tech Stocks Stage Strong Rebound! Largest HK Connect IT ETF Hua Bao (159131) Surges 2% Intraday, SMIC Soars 7%</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHong Kong Hard Tech Stocks Stage Strong Rebound! Largest HK Connect IT ETF Hua Bao (159131) Surges 2% Intraday, SMIC Soars 7%\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1039043262\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/8296859682db4b478146245e72de1922);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Deep News </p>\n<p class=\"h-time\">2026-05-20 10:13</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>On May 20, Hong Kong's hard technology sector staged a significant rebound after four consecutive days of decline. Leading companies such as SMIC and Huahong Semiconductor surged over 7% and 6%, respectively. Mirroring this rally, the largest and most liquid* Hong Kong Stock Connect Information Technology ETF Hua Bao (159131) saw its intraday price surge sharply, at one point gaining over 2%, with real-time turnover reaching 1.6 billion yuan.</p>\n<p>This rebound in Hong Kong's hard tech sector is underpinned by solid fundamentals. Taking chip leader SMIC as an example, its Q1 2026 revenue reached $2.51 billion, a sequential increase of 0.7%, with a gross margin of 20.1%, up 0.9 percentage points sequentially, both exceeding market expectations. Analysis from Bank of Communications International suggests that a 2.5% sequential increase in the composite price of its wafer foundry business was likely a key driver. Demand growth driven by AI is notably accelerating, evident in several areas: 1) Supply constraints for supporting circuits (e.g., PMIC products) that serve as AI infrastructure; 2) A siphon effect as overseas capacity shifts to higher-margin AI-related products, leading to the return of some consumer product lines to the company; 3) Rising demand for new AI applications, including Time-of-Flight (ToF) sensors, robotics, and electric vehicles; 4) Domestic manufacturers seeking local solutions amid overall supply tightness. The AI-driven supply-demand imbalance may be stronger than previously anticipated by the market.</p>\n<p>Since its rebound from the low point on March 31, the underlying index of the Hua Bao (159131) ETF—the CSI Hong Kong Stock Connect Information Technology Composite Index—has accumulated a gain of 22.66%. In the same period, the Hang Seng Tech Index and the Hong Kong Stock Connect Tech Index rose by only 3.57% and 1.65%, respectively, highlighting the former's significantly sharper performance and greater elasticity.</p>\n<p>Statistical period: March 31, 2026, to May 19, 2026. The annual historical returns for the Hong Kong Stock Connect Information Technology C Index from 2021 to 2025 were: -9.54%, -34.47%, -0.25%, 21.58%, and 39.30%, respectively. Past index performance does not indicate future results.</p>\n<p>Why has the Hang Seng Tech Index \"lagged behind\"? Galaxy Securities analysis points out that the gains and losses of the Hang Seng Tech Index are largely driven by a few leading companies within its constituents, particularly those in the information technology and consumer discretionary sectors. On a macro level, outflows from the Hang Seng Tech Index coincided with heightened expectations for Federal Reserve tightening and escalating geopolitical risks. At the industry level, several factors contributed: first, declines in heavyweight components were partly due to ByteDance directly impacting the profit expectations and market share of some index members. Second, intensified internal competition among these heavyweights, such as the \"food delivery wars\" and \"red envelope wars,\" consumed significant capital. Third, the HALO trading strategy further exacerbated the decline of individual Hang Seng Tech stocks. The index composition is dominated by internet platform companies and consumer electronics firms, resulting in a relatively low \"hard tech\" concentration and a stronger consumer orientation.</p>\n<p>Supporting T+0 Trading! Targeting the Super Cycle in Hong Kong Chips—The Hua Bao (159131) ETF is the first and largest of its kind, offering superior liquidity among Hong Kong Stock Connect Information Technology ETFs. Its feeder fund code is 026755. The underlying index is structured as \"70% hardware + 30% software,\" heavily weighted towards Hong Kong-listed \"semiconductors, electronics, and computer software.\" It encompasses 52 hard tech companies, with SMIC holding a weight of 14.21%, Xiaomi Group-W at 10.31%, Lenovo Group at 9.33%, and Huahong Semiconductor at 8.82%. Notably, it excludes large-cap internet giants like Alibaba, Tencent, and Meituan, providing greater focus and making it more effective for capturing the AI hard tech trend in Hong Kong markets. (Data as of May 5, 2026)</p>\n<p>Data source: China Securities Index Co., Ltd., Shanghai and Shenzhen Stock Exchanges.\nNote: \"First in the market\" refers to the Hua Bao (159131) ETF being the first ETF to track the CSI Hong Kong Stock Connect Information Technology Composite Index. As of May 11, 2026, the latest on-exchange size of the Hua Bao (159131) ETF was 8.28 billion yuan, making it the largest among the 7 ETFs currently tracking the CSI Hong Kong Stock Connect Information Technology Composite Index. Its year-to-date average daily turnover 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 does not indicate future results.\nFund Fee Information: Subscription and redemption agents for the Hua Bao 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.\n*Institutional views referenced from: Galaxy Securities report \"Deconstructing the Hang Seng Tech 'Lag': Trapped Beast or Hidden Dragon?\"; Bank of Communications International report \"Q2 2026 Guidance Exceeds Expectations, AI's Overall Demand Driving Effect Highlights; Target Price Raised.\"\nRisk Disclosure: The Hua Bao (159131) ETF and its feeder fund passively track the CSI Hong Kong Stock Connect Information Technology Composite Index. The index base date is November 14, 2014, and its release date was June 23, 2017. The index constituents mentioned herein are for illustrative purposes only. Descriptions of individual stocks do not constitute any form of investment advice nor represent the holdings or trading activities of any fund managed by the fund manager. This product is issued and managed by Hua Bao Fund Management Co., Ltd. Selling agencies do not bear responsibility for the investment, redemption, or risk management of the product. Investors should carefully read the Fund Contract, Prospectus, Product Key Facts Statement, and other legal documents to understand the fund's risk-return characteristics and choose products 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. Selling institutions (including the fund manager's direct sales channels and other selling agencies) evaluate this fund's risk according to relevant laws and regulations. Investors should promptly pay attention to the appropriateness opinions provided by selling institutions and base their decisions on the matching results. Appropriateness opinions may differ among selling institutions, and the risk rating results provided by fund selling institutions shall not be lower than the risk rating result determined by the fund manager. The description of the fund's risk-return characteristics in the fund contract and its risk rating may differ due to different considerations. Investors should understand the fund's risk-return profile and, considering their own investment objectives, horizon, experience, and risk tolerance, make prudent investment decisions and bear the risks independently. 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.</p>\n<p>A MACD golden cross signal has formed, and these stocks are performing well.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"159131":"港股信息","688981":"中芯国际","BK4588":"碎股","SGXZ81163826.USD":"UNITED CHINA A-SHARES INNOVATION \"A\" (USD) ACC","LU2148510915.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"R\" (USD) ACC","00981":"中芯国际","BK1526":"科网股","SGXZ49509284.SGD":"United China A Shares Innovation A Acc SGD","BK1610":"ETF&股票定投概念","BK1607":"新IT概念","BK4585":"ETF&股票定投概念","BK0214":"IT设备","BK1163":"半导体产品","BK1614":"港股-半导体","HSI":"恒生指数","LU1064131003.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"A\" (USD) ACC","LU1064130708.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"I\" (USD) ACC","HSTECH":"恒生科技指数"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191304637","content_text":"On May 20, Hong Kong's hard technology sector staged a significant rebound after four consecutive days of decline. Leading companies such as SMIC and Huahong Semiconductor surged over 7% and 6%, respectively. Mirroring this rally, the largest and most liquid* Hong Kong Stock Connect Information Technology ETF Hua Bao (159131) saw its intraday price surge sharply, at one point gaining over 2%, with real-time turnover reaching 1.6 billion yuan.\nThis rebound in Hong Kong's hard tech sector is underpinned by solid fundamentals. Taking chip leader SMIC as an example, its Q1 2026 revenue reached $2.51 billion, a sequential increase of 0.7%, with a gross margin of 20.1%, up 0.9 percentage points sequentially, both exceeding market expectations. Analysis from Bank of Communications International suggests that a 2.5% sequential increase in the composite price of its wafer foundry business was likely a key driver. Demand growth driven by AI is notably accelerating, evident in several areas: 1) Supply constraints for supporting circuits (e.g., PMIC products) that serve as AI infrastructure; 2) A siphon effect as overseas capacity shifts to higher-margin AI-related products, leading to the return of some consumer product lines to the company; 3) Rising demand for new AI applications, including Time-of-Flight (ToF) sensors, robotics, and electric vehicles; 4) Domestic manufacturers seeking local solutions amid overall supply tightness. The AI-driven supply-demand imbalance may be stronger than previously anticipated by the market.\nSince its rebound from the low point on March 31, the underlying index of the Hua Bao (159131) ETF—the CSI Hong Kong Stock Connect Information Technology Composite Index—has accumulated a gain of 22.66%. In the same period, the Hang Seng Tech Index and the Hong Kong Stock Connect Tech Index rose by only 3.57% and 1.65%, respectively, highlighting the former's significantly sharper performance and greater elasticity.\nStatistical period: March 31, 2026, to May 19, 2026. The annual historical returns for the Hong Kong Stock Connect Information Technology C Index from 2021 to 2025 were: -9.54%, -34.47%, -0.25%, 21.58%, and 39.30%, respectively. Past index performance does not indicate future results.\nWhy has the Hang Seng Tech Index \"lagged behind\"? Galaxy Securities analysis points out that the gains and losses of the Hang Seng Tech Index are largely driven by a few leading companies within its constituents, particularly those in the information technology and consumer discretionary sectors. On a macro level, outflows from the Hang Seng Tech Index coincided with heightened expectations for Federal Reserve tightening and escalating geopolitical risks. At the industry level, several factors contributed: first, declines in heavyweight components were partly due to ByteDance directly impacting the profit expectations and market share of some index members. Second, intensified internal competition among these heavyweights, such as the \"food delivery wars\" and \"red envelope wars,\" consumed significant capital. Third, the HALO trading strategy further exacerbated the decline of individual Hang Seng Tech stocks. The index composition is dominated by internet platform companies and consumer electronics firms, resulting in a relatively low \"hard tech\" concentration and a stronger consumer orientation.\nSupporting T+0 Trading! Targeting the Super Cycle in Hong Kong Chips—The Hua Bao (159131) ETF is the first and largest of its kind, offering superior liquidity among Hong Kong Stock Connect Information Technology ETFs. Its feeder fund code is 026755. The underlying index is structured as \"70% hardware + 30% software,\" heavily weighted towards Hong Kong-listed \"semiconductors, electronics, and computer software.\" It encompasses 52 hard tech companies, with SMIC holding a weight of 14.21%, Xiaomi Group-W at 10.31%, Lenovo Group at 9.33%, and Huahong Semiconductor at 8.82%. Notably, it excludes large-cap internet giants like Alibaba, Tencent, and Meituan, providing greater focus and making it more effective for capturing the AI hard tech trend in Hong Kong markets. (Data as of May 5, 2026)\nData source: China Securities Index Co., Ltd., Shanghai and Shenzhen Stock Exchanges.\nNote: \"First in the market\" refers to the Hua Bao (159131) ETF being the first ETF to track the CSI Hong Kong Stock Connect Information Technology Composite Index. As of May 11, 2026, the latest on-exchange size of the Hua Bao (159131) ETF was 8.28 billion yuan, making it the largest among the 7 ETFs currently tracking the CSI Hong Kong Stock Connect Information Technology Composite Index. Its year-to-date average daily turnover 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 does not indicate future results.\nFund Fee Information: Subscription and redemption agents for the Hua Bao 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.\n*Institutional views referenced from: Galaxy Securities report \"Deconstructing the Hang Seng Tech 'Lag': Trapped Beast or Hidden Dragon?\"; Bank of Communications International report \"Q2 2026 Guidance Exceeds Expectations, AI's Overall Demand Driving Effect Highlights; Target Price Raised.\"\nRisk Disclosure: The Hua Bao (159131) ETF and its feeder fund passively track the CSI Hong Kong Stock Connect Information Technology Composite Index. The index base date is November 14, 2014, and its release date was June 23, 2017. The index constituents mentioned herein are for illustrative purposes only. Descriptions of individual stocks do not constitute any form of investment advice nor represent the holdings or trading activities of any fund managed by the fund manager. This product is issued and managed by Hua Bao Fund Management Co., Ltd. Selling agencies do not bear responsibility for the investment, redemption, or risk management of the product. Investors should carefully read the Fund Contract, Prospectus, Product Key Facts Statement, and other legal documents to understand the fund's risk-return characteristics and choose products 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. Selling institutions (including the fund manager's direct sales channels and other selling agencies) evaluate this fund's risk according to relevant laws and regulations. Investors should promptly pay attention to the appropriateness opinions provided by selling institutions and base their decisions on the matching results. Appropriateness opinions may differ among selling institutions, and the risk rating results provided by fund selling institutions shall not be lower than the risk rating result determined by the fund manager. The description of the fund's risk-return characteristics in the fund contract and its risk rating may differ due to different considerations. Investors should understand the fund's risk-return profile and, considering their own investment objectives, horizon, experience, and risk tolerance, make prudent investment decisions and bear the risks independently. 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.\nA MACD golden cross signal has formed, and these stocks are performing well.","news_type":1,"symbols_score_info":{"159131":1,"688981":1,"HTImain":1,"HSTECH":1,"HSI":1,"00981":1}},"isVote":1,"tweetType":1,"viewCount":102,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":166,"optionInvolvedFlag":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}