"Bottom-fishing" funds frequently increase positions, can Hong Kong stocks' hard tech stocks usher in a rebound from oversold levels? The only Hong Kong stock information technology ETF(159131) in the entire market attracted 68.54 million yuan in a single day

Yesterday (March 23), Hong Kong stocks experienced a deep correction in the hard technology sector. The only Hong Kong Information Technology ETF (159131) in the entire market saw a net inflow of 68.54 million yuan on the day, with total net inflows over the past five days exceeding 120 million yuan. Today (March 24), at the market open, the Hong Kong Information Technology ETF (159131) opened high and briefly surged over 2%, currently up 1.04%. Most constituent stocks are showing broad gains, with Jushuitan up over 4%, Naxin Micro and AAC Technologies up over 3%, and Xiaomi Group up over 1%.

Can Hong Kong stocks rebound from oversold levels? Guoyuan Securities analysts point out that due to Iran’s strong resistance and resilient political system, there is a possibility of prolonged military conflict. The conflict has significantly reduced navigation through the Strait of Hormuz, causing short-term energy prices for oil and natural gas to remain relatively high. In this context, concerns about inflation rebound have deepened, coupled with the possibility that the Federal Reserve may be forced to tighten monetary policy due to rising energy prices. In the short term, Hong Kong stocks face market volatility driven by external uncertainties, and risk aversion sentiment may not dissipate quickly.

Huatai Securities believes that from a short-term perspective, the main contradictions are the risk of sharp oil price increases and stagflation caused by geopolitical conflicts abroad. It recommends increasing risk-hedging positions. Semiconductor hardware stocks related to the internal and external gaps in AI chains, such as storage, may be opportunistically accumulated on dips due to macro beta adjustments.

Directly pointing to a super cycle in Hong Kong chip stocks! The T+0 Hong Kong chip industry chain ETF—the only market ETF focusing on the “Hong Kong chip” industry chain in Hong Kong—Market’s First Hong Kong Information Technology ETF (159131), with an off-market connect fund code 026755, is composed of 70% hardware + 30% software. It heavily invests in Hong Kong-listed “semiconductors + electronics + computer software,” covering 45 Hong Kong tech companies, with SMIC International weighting at 14.07%, Xiaomi Group-W at 12.41%, and Huahong Semiconductor at 7.47%. It excludes large-cap internet companies like Alibaba, Tencent, and Meituan, making it more focused and better at capturing Hong Kong AI and hardware tech trends. (As of March 11, 2026)

Data source: China Securities Index Co., Ltd., Shanghai and Shenzhen Stock Exchanges.

Note: “The only market ETF” refers to the only ETF tracking the CSI Hong Kong Stock Connect Information Technology Composite Index.

Fund fee disclosure: The Hong Kong Information Technology ETF’s subscription and redemption agents may charge a commission of up to 0.5%. On-market trading fees are based on the actual charges of securities firms. No sales service fee is charged.

Institutional views sourced from: Guoyuan Securities “External geopolitical tensions increase risk aversion in Hong Kong stocks” and Huatai Securities “Hong Kong stocks strategy: Maintain low-positions amid cautious sentiment.”

Risk warning: The Hong Kong Information Technology ETF and its linked funds passively track the CSI Hong Kong Stock Connect Information Technology Composite Index, which was launched on November 14, 2014, and published on June 23, 2017. The index components shown are for display only; individual stock descriptions do not constitute investment advice and do not reflect holdings or trading activity of any funds managed by the manager. This product is issued and managed by Huabao Fund, with distribution handled by agents who do not assume investment, redemption, or risk management responsibilities. Investors should carefully read the fund contract, prospectus, and key information documents to understand the fund’s risk-return profile and choose products suitable for their risk tolerance. Past performance does not predict future results, and the performance of other funds managed by the fund manager does not guarantee future performance. Investment in funds should be cautious! The fund’s risk level, assessed by the manager, is R4—Moderately High Risk, suitable for active investors (C4) and above. Sales organizations (including direct sales by the fund manager and other sales channels) must evaluate the fund’s risk according to relevant laws and regulations. Investors should pay attention to suitability opinions issued by sales organizations and rely on their matching results. Different sales institutions may have varying suitability opinions, and the risk level assessments provided by sales channels should not be lower than those made by the fund manager. The fund contract may specify different risk and return characteristics due to differing considerations. Investors should understand the fund’s risk-return profile, consider their own investment objectives, time horizon, experience, and risk capacity, and choose funds carefully, bearing the risks themselves. The China Securities Regulatory Commission’s registration of this fund does not imply any judgment or guarantee of its investment value, market prospects, or returns. Funds carry risks; invest cautiously!

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