Mei Ri Jing Ji Xin Wen·2025-09-17 02:52Core Viewpoint - Semiconductor stocks in Hong Kong experienced significant gains, with SMIC rising over 4% and Hua Hong Semiconductor increasing over 2%, driven by a strong performance in the North American computing industry and TSMC's upward revision of its annual performance guidance [1] Group 1: Market Performance - The Hang Seng Technology Index ETF, which includes major holdings like Baidu, NIO, JD Group, SMIC, Meituan, and Alibaba, followed the upward trend of the index [1] - The Hang Seng Technology Index surpassed the 6200-point mark, breaking previous highs [1] Group 2: Industry Insights - Guosen Securities highlighted that the semiconductor sector is experiencing a rapid increase in performance, with domestic computing capabilities becoming a focal point as companies like DeepSeek and Alibaba increase their procurement and adaptation efforts for domestic computing [1] - The domestic advanced process capabilities are continuously improving, indicating a positive trend for the local computing supply chain [1] Group 3: Investment Opportunities - With ongoing inflows of southbound capital and the potential initiation of a new round of interest rate cuts in the U.S., Hong Kong stocks may see a resonance of both domestic and foreign investments in September [1] - The "anti-involution" policies and Alibaba's better-than-expected earnings report, along with rapid iterations of AI large models, suggest a potential revaluation of the Hang Seng Technology sector, moving from "takeout involution" back to an AI narrative [1] - Investors without a Hong Kong Stock Connect account may consider using the Hang Seng Technology Index ETF to gain exposure to core Chinese AI assets [1]