Group 1 - The Hong Kong stock market indices collectively declined on September 26, with the Hang Seng Tech Index ETF falling over 1% [1] - Xiaomi Group's stock dropped over 5% following its press conference, while Hua Hong Semiconductor's stock reached a new high in the morning and maintained a rise of over 5% in the afternoon [1] - Huatai Securities forecasts that global semiconductor equipment revenue will grow by 8% year-on-year to $153 billion by 2026, with the Chinese market size at $49 billion, showing near flat year-on-year growth [1] Group 2 - The firm anticipates that AI-related advanced logic and storage will remain the main drivers of capital expenditure overseas, and it is optimistic about continued investment in advanced logic and storage in China by 2026 [1] - Recent fundraising by SMIC and Hua Hong, along with Changxin's initiation of listing guidance, indicates a positive outlook for domestic equipment progress, with a projected increase in the domestic equipment market share by 6 percentage points to 29% by 2026 [1] Group 3 - Alibaba's 2025 Cloud Summit has sparked bullish sentiment, suggesting that the Hang Seng Tech Index may break upward again [1] - The expectation of a Federal Reserve interest rate cut and continued inflow of southbound funds could catalyze a valuation reconstruction for the Hang Seng Tech Index, supported by both domestic and foreign capital [1] - Alibaba's stock has doubled this year, making it the largest weighted stock in the Hang Seng Tech Index with a weight of 9.17% [1]
恒生科技指数ETF（513180）午后跌超1%，华虹半导体逆势上涨超5%