Spending 50 million yuan in a single day—who is accelerating their purchase of Hong Kong-listed chip stocks?

Why are Hong Kong stocks’ valuation low points attracting funds to increase their positions against the trend?

On March 20, the technology sector of Hong Kong stocks adjusted, and the market’s first ETF focusing on the “Hong Kong chip” industry chain (159131) has currently dropped over 1%. Funds continue to flow in, with a net inflow of over 50 million yuan into the Hong Kong information technology ETF (159131) yesterday, and currently, there are real-time net subscriptions of 1 million shares.

Galaxy Securities analyzes that the resilience of Hong Kong stocks comes from their position in a valuation low point, with low valuations attracting risk-averse funds seeking certainty. Foreign capital’s choice to enter the Hong Kong stock market is largely due to recognizing the valuation gap between Hong Kong stocks and other major global markets (such as the U.S. and Japanese markets). The low valuations of Hong Kong stocks are usually accompanied by high dividend yields, which are highly attractive to risk-averse funds seeking stable cash flow.

Industrial Securities states that the pattern of loose overseas liquidity has not changed, and Hong Kong stocks are expected to welcome opportunities for foreign capital inflows in 2026. The liquidity of the Hong Kong stock market continues to improve, and in the context of AI technological transformation, tech assets are expected to become a core direction for benefiting.

The Hong Kong information technology ETF (159131) is composed of an index made up of “70% hardware + 30% software,” heavily investing in Hong Kong stocks related to “semiconductors + electronics + computer software,” covering 45 Hong Kong hard tech companies, with SMIC having a weight of 14.07%, Xiaomi Group-W having a weight of 12.41%, and Hua Hong Semiconductor having a weight of 7.47%; it excludes large-cap internet companies such as Alibaba, Tencent, and Meituan, making it sharper and more capable of capturing the Hong Kong AI hard tech market trend.

Daily Economic News