Mei Ri Jing Ji Xin Wen·2025-10-27 02:55Core Insights - The main theme of the article is the strong performance of the semiconductor sector in the A-share and Hong Kong stock markets, driven by the focus on technological self-reliance and strength [1] Group 1: Market Performance - The "Hong Kong Stock Connect Information C" index, which focuses on semiconductor and hard technology stocks, continues to rebound and is approaching previous highs [1] - The Hong Kong Information Technology ETF (159131), which tracks the "Hong Kong Stock Connect Information C" index, has officially launched, providing investors with a unique opportunity to invest in hard technology [1] Group 2: Index Composition and Performance - The "Hong Kong Stock Connect Information C" index consists of 70% hardware and 30% software, with a focus on semiconductor, electronics, and computer software sectors [1] - As of September 30, 2025, the index includes 41 hard technology companies, with significant weights in leading firms such as SMIC (19.41%), Xiaomi (10.28%), and Hua Hong Semiconductor (5.11%) [1] - The index has achieved a cumulative increase of 110.93% from December 30, 2022, to September 30, 2025, outperforming other technology indices [2] Group 3: Valuation Insights - As of October 16, 2025, the price-to-earnings ratio of the "Hong Kong Stock Connect Information C" index is 42.68, significantly lower than major global technology indices [2] - The H-shares of hard technology companies, represented by SMIC, are valued significantly lower than their A-share counterparts, indicating potential growth opportunities for investors [2]