ETF日报：目前国产算力发展趋势树立，科技行业有望迎来较大级别的发展良机

Market Overview - The three major indices experienced a rapid rise followed by a quick decline, with the Shanghai and Shenzhen markets recording a trading volume of 3.135 trillion, an increase of 758.4 billion compared to the previous trading day, marking the third highest volume of the year [1] - By the close, the Shanghai Composite Index fell by 1.15%, the Shenzhen Component Index by 1.06%, and the ChiNext Index by 1.64% [1] Semiconductor Sector - The semiconductor sector showed strength, with a notable rise in the Semiconductor Equipment ETF (159516) which increased by 4% after a brief pullback, and the Sci-Tech Chip ETF (589100) which rose by 2.28% [1] - Recent positive developments in the semiconductor sector include SMIC testing a 28nm deep ultraviolet lithography machine from a Shanghai startup, which could signal significant advancements in domestic semiconductor manufacturing [3] Huawei's AI and Chip Development - Huawei announced its AI computing power roadmap at the Huawei Connect Conference, projecting a doubling of computing power every year, with the Ascend 950PR chip expected to launch in Q1 2026 [2] - The company has deployed over 300 Atlas 900 supernodes, serving more than 20 clients, indicating strong demand for its AI infrastructure [2] Regulatory Environment - Nvidia is under investigation by China's market regulator for potential violations of antitrust laws, which has impacted its sales in China this year [3] - The semiconductor industry is expected to improve, paving the way for increased domestic production capabilities, particularly in light of challenges faced by foreign competitors like Nvidia [3] Investment Opportunities - Investors are encouraged to focus on both North American and domestic computing power to mitigate geopolitical risks, with various ETFs representing these sectors [4] - The Hong Kong stock market is expected to benefit from the US Federal Reserve's recent interest rate cuts, which historically correlate with positive performance in the technology sector [5][6] Technology Sector in Hong Kong - The Hong Kong technology sector, often referred to as the "Silicon Valley of the East," includes key Chinese tech assets and has shown significant growth potential [7] - The Hong Kong Technology ETF (513020) represents a balanced investment across various tech industries, including internet, new energy vehicles, chips, and biomedicine, indicating strong overall investment value [7]