Xin Lang Cai Jing·2026-01-06 02:19Core Viewpoint - The Hong Kong stock market, particularly the technology sector, is experiencing strong momentum, with significant gains in indices and the launch of a new ETF focused on the semiconductor industry [1][3][7]. Group 1: Market Performance - On January 6, the Hong Kong stock market saw the Hang Seng Technology Index, Hong Kong Stock Connect Information C, and the Hong Kong Internet Index all rise by over 1% [1][7]. - The Hong Kong Information Technology ETF (159131), which focuses on the semiconductor industry, opened strongly after a previous jump of 3.63%, increasing by 1.91% with a trading volume exceeding 12 million [1][3][7]. Group 2: ETF Details - The Hong Kong Information Technology ETF (159131) is the first ETF in the market to focus on the "Hong Kong semiconductor" industry chain, with a composition of 70% hardware and 30% software [3][9]. - The ETF includes 42 Hong Kong hard-tech companies, with significant weights assigned to SMIC (20.48%), Xiaomi Group-W (9.53%), and Huahong Semiconductor (5.80%) [3][9]. - The ETF excludes major internet companies like Alibaba, Tencent, and Meituan, allowing for a sharper focus on AI hard-tech trends [3][9]. Group 3: Institutional Investment - SMIC received a substantial investment from the National Integrated Circuit Industry Investment Fund, increasing its stake from 4.79% to 9.25%, with an investment of approximately 26.515 billion RMB [3][9]. - This investment reflects a growing confidence in the semiconductor sector and is expected to contribute to the overall bullish sentiment in the Hong Kong stock market [3][9]. Group 4: Future Outlook - Analysts at Galaxy Securities predict that the trading activity in the Hong Kong stock market will continue to rise, with the technology sector remaining a key focus for medium to long-term investments [3][9]. - Factors such as price increases in the industry chain, mergers and acquisitions, and domestic substitution are expected to drive the market upward [3][9].