Fiscal support + high computing power boom, the Sci-Tech Innovation 100 ETF Huaxia (588800) surges back into the green, with constituent stock China Shipbuilding Special Gas rising over 11%

April 3 morning, the three major A-share index movements diverged. Among them, the Shanghai Composite Index fell 0.53%. The 华夏科创100ETF (588800.SH) staged a V-shaped reversal in the early session and ran strongly in the red, showing the resilience of the hard-tech sector; as of 10:43, it was up 0.43%. Among other broad-market indices, the SSE 50 fell 0.28%, the STAR 50 rose 0.43%, the CSI 50 for Growth Enterprises rose 0.58%, and the Beijing 50 fell 0.93%.

In terms of individual stock performance, among the top 50 constituent weight stocks of the STAR 100 Index, 中船特气 rose 11.29%, 华丰科技 rose 8.09%, 凌云光 rose 7.38%, and 源杰科技 rose 5.90%; however, 禾迈股份 and 固德威 performed poorly, with price changes of -3.88% and -3.23%, respectively.

In terms of sector performance, among the leading heavily weighted industries of the STAR 100 Index, semiconductors rose 1.06%, batteries fell 2.73%, chemical pharmaceuticals fell 1.58%, communications equipment rose 4.84%, and IT services II fell 0.15%.

The first-quarter closing of local government bond issuance work has been completed. Wind data shows that in the first quarter, local bond issuance totaled about 3.11 trillion yuan, an increase of 263.8 billion yuan compared with the first quarter of last year. Among them, focusing on key areas and people’s livelihood demand, the issuance volume of new special-purpose bonds exceeded 1 trillion yuan, reflecting that the more proactive fiscal policy is ramping up early, providing strong support for stabilizing growth.

CITIC Securities said that the performance of the technology sector in March showed that overall computing power remains in short supply, and price increases continue to spread into segments such as cloud services and CPUs; however, due to macro disturbances and geopolitical shocks, the technology sector’s valuations have been hit significantly. Looking ahead to April, on one hand, historically, after April enters the earnings period, the market often falls into a phase of shrinking risk appetite; on the other hand, current geopolitical disruptions are still difficult to judge in terms of how long they will last. It is recommended to focus on the overall high-growth, high-demand-state sectors related to AI computing infrastructure.

The 华夏科创100ETF (588800) tracks the SSE STAR Market 100 Index. This index selects 100 securities with medium market capitalization and relatively good liquidity from the STAR Market of the Shanghai Stock Exchange as its sample. The index is positioned as a small- and mid-cap growth style index for the STAR Market and complements the SSE STAR Market 50 Index. It is more suitable for investors who can withstand high volatility and pursue long-term growth; as a “satellite” allocation within an investment portfolio, it aims to enhance return elasticity. Its off-exchange connection A/C: 020291/020292.

Daily Economic News

(Editor: 董萍萍 ）

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