GX CN SEMICON-U

Market provides latest analysis on wafer foundry giants

Has the Turning Point of the Chip Cycle Arrived? How Can Sci-Tech Chip ETF Guotai (589100) Seize the Industry Beta?

Samsung and Nvidia Collaborate on Next-Gen Flash Memory Chips; STAR Market Chip ETF Closes Lower

Southbound trading sees net selling of SMIC stock on March 13

SMIC's stock price rises, driven by positive sentiment in the semiconductor industry

Three mainland Chinese foundries enter the world's top six, just one EUV lithography machine away from the top level

Hong Kong Tech Stocks Pull Back, SMIC's Share Price Drops Nearly 1%

Market Analysis Suggests China's AI Chip Industry is Catching Up Through System-level Capabilities, with SMIC's Capacity Being Key

Morgan Stanley report states that SMIC's 12nm chips are nearing NVIDIA's A100 in cost-performance when measured by 'performance per watt per dollar'.

Cathay SSE STAR Chip ETF Shares Decrease by 3 Million; SMIC is the Fund's Top Holding

Global Semiconductor Industry Event SEMICON China 2026 to be Held in Shanghai from March 25-27

Southbound Capital Net Buys SMIC for HK$316 Million

HKEX data shows SMIC had the highest short-selling value in the semiconductor industry on March 12

SMIC ranked third in the global foundry market in Q4 2025, report shows

SMIC to participate in a large-scale job fair in Shenzhen, offering core technology positions

Huaxin Securities analysis indicates that AI is driving a structural boom in the semiconductor industry, with SMIC's capacity utilization rate remaining high

Morgan Stanley Upgrades Semiconductor Company Huahong

Disruptive changes in the semiconductor market led to a surge in the Hong Kong stock information technology ETF at the opening

Hong Kong tech stocks strengthen in early trading, SMIC rises over 2%

A bearish block trade of SMIC shares worth HKD 11.328 million occurred on March 12

AOM INT'L

KO YO GROUP

MABPHARM-B

MOST KWAI CHUNG

CHINA ORAL IND

BRIGHT SMART

CCT FORTIS

EASY SMART GP

CEN PLAZA HOTEL

SMART DIGI TECH

SOXX

Recently, the prices of solid-state drives have surged significantly. The price of a 2TB hard drive for a consumer in Shenzhen increased from 789 yuan to 1759 yuan, a rise that exceeds that of gold. Consumers in Changsha also found that the price of a 1TB hard drive rose from 299 yuan to 899 yuan. On e-commerce platforms, the price of 2TB solid-state drives ranges from 1500 yuan to 2400 yuan. The prices of storage chips have reached historical highs, with DRAM and NAND flash prices increasing by 24% and 65%, respectively. The stock prices of related companies have also risen sharply, with SanDisk's stock price increasing more than 13 times since last August

- The price of storage devices has surged dramatically, with 2TB solid-state drives increasing from 789 RMB to 1759 RMB since last year.  
- Factors driving this price hike include soaring demand from AI technologies, oligopolistic control of supply by major manufacturers, and rising strategic value of storage.  
- Analysts predict a sustained period of high prices due to ongoing AI-related demand, with little chance for significant declines in the near future.

腾讯新闻 - 财经

Invesco Semiconductors ETF

Micron Tech

Western Digital

iShares Semiconductor ETF

"The price has doubled in six months"! Hard drives have become "electronic gold"

SOXL

512480

Reuters

Direxion Semicon Bull 3X

SPDR S&P Semicon

VanEck Semiconductor ETF

GTJA Allianz SSE STAR Chip Design Thematic ETF

Wingtech

Guotai CES Semiconductor Chip Industry ETF

Guotai CSI Semiconductor Material Equipment Theme ETF

GTJA Allianz CSI All Share Semiconductors & Semiconductor Equipment ETF

NXP Semiconductors

ChinaAMC SSE STAR Semiconductor Material & Equipment Thematic ETF

China appreciates 'positive signals' shown by new Dutch government, foreign minister says

AAPL

GS-D

China's new social financing in February was 2.38 trillion yuan, with new RMB loans of 900 billion yuan, and M2 grew by 9% year-on-year. In the U.S., the core PCE price index rose by 3.1% year-on-year in January, remaining unchanged at 0.4% month-on-month. U.S. durable goods orders had a preliminary month-on-month change of 0% in January, lower than the market expectation of 1.1%. The "fear index" for U.S. Treasury bonds soared to a nine-month high, and expectations for a Federal Reserve interest rate cut have "cooled." Japan plans to release 80 million barrels of oil next week, selling at prices before the outbreak of the Middle East conflict. Goldman Sachs raised its short-term oil price targets, forecasting Brent crude at $100 in March and $85 in April. Apple announced a reduction in the commission rate for the China App Store. The yen fell below 159.45 against the dollar for the first time since July 2024

Wallstreetcn

Goldman Sachs

Apple

GOLDMAN SACHS GROUP INC DEP REP 1/1000TH PRF D

GOLDMAN SACHS GROUP INC DEP SHR REP 1/1000TH PFD SER A

GOLDMAN SACHS GROUP INC DEP SHS REPSTG 1/1000TH PRF SER C

ISHRS Us Brokers & Sec Exchg

Financial Select Sector SPDR Fund

ISHRS S&P Glb Engy

GraniteShares 2x Long AAPL Daily ETF

SPDR O&G Ex & Prd

Us Brent Oil

T-Rex 2X Long Apple Daily Target ETF

iShares US Oil & Gas Expl & Prod

United States Oil Fund LP

Fidelity MSCI Financials Index

Direxion Daily AAPL Bull 2X Shares

VanEck Oil Services ETF

VG Financial

Pro Ultrshrt Yen

Global news you need to know before the U.S. stock market opens on Friday

00100

Recently, MiniMax (Xiyu Technology) in Shanghai set a new record for the fastest IPO in the global AI sector, successfully landing on the Hong Kong stock market and achieving strong growth, reflecting Shanghai's strong potential in AI and high-end industries. The continuous development in fields such as integrated circuits, artificial intelligence, and biomedicine is expected to lead to a total financing amount of 18.125 billion yuan for Shanghai's biomedicine industry by 2025, accounting for about 25% of the national total. Shanghai will build a modern industrial system with advanced manufacturing as the backbone, promote high-quality industrial development, and strive for the industrial added value to account for over 20% of GDP by 2030

MINIMAX-WP

Spring begins in Shanghai, heavily investing in Shanghai, embracing the future

00066

00005

00293

00316

02888

The Hong Kong stock market closed down 251 points today, with the Hang Seng Index closing at 25,465 points. The National Index and the Hang Seng Tech Index also fell respectively. Bank stocks were under pressure, with HSBC Holdings and Standard Chartered down 5% and 5.1% respectively. Airline stocks generally declined, with China Southern Airlines, China Eastern Airlines, and Air China each dropping over 4%. Swire plans to discount the placement of Cathay Pacific shares, causing Cathay to drop 5.1%. MTR CORPORATION's annual net profit fell by 7%, with its stock price down 6.4%. OOIL's annual net profit significantly declined by 41%, with its stock price down 7.5%

AASTOCKS

MTR CORPORATION

HSBC HOLDINGS

CATHAY PAC AIR

OOIL

STANCHART

"Hong Kong Stocks" The Hang Seng Index closed down 251 points, bank stocks under pressure, MTR Corporation and OOIL declined after earnings

00883

00700

09888

09988

01428

01347

02685

Today, the three major indices of the Hong Kong stock market collectively retreated, with the Hang Seng Index closing down 0.98%, failing to maintain its upward momentum. The technology sector showed mixed performance, with Tencent Holdings and Baidu slightly rising against the trend, while SenseTime and Hua Hong Semiconductor significantly declined. The oil and gas sector performed actively, with China National Offshore Oil Corporation rising over 2%. Yao Cai Securities saw a surge in trading volume due to strong capital interest, skyrocketing over 33%. Overall risk appetite has cooled during the macroeconomic window period

- Today, Hong Kong's three major indices fell collectively, with the Hang Seng Index closing at 25,465.6, down 0.98%.  
- The Internet and information sector saw overall gains driven by digital advertising and platform traffic recovery, while the retail sector showed mixed performance.  
- Investors should focus on key economic indicators such as retail sales and unemployment rates to gauge market signals moving forward.

Market Heartbeat

CNOOC

TENCENT

BIDU-SW

BABA-W

HUA HONG SEMI

QUANTGROUP

Hong Kong stock market closing | Hang Seng Index fell 0.98%, technology sector diverged, Yaocai Securities surged 33.96% and CNOOC rose 2.27%

On Friday, the A-share market experienced a pullback, with the Shanghai Composite Index falling below 4,100 points. Industries such as wind power equipment, home appliances, and agricultural chemical products performed strongly, while sectors like small metals and oil and gas extraction saw declines. The government initiated the early release of national reserves of nitrogen, phosphorus, and compound fertilizers to ensure the fertilizer demand for agricultural production during the spring plowing period. Meanwhile, a new wave of capital increase and share expansion among small and medium-sized banks has emerged, with financing scales ranging from hundreds of millions to billions of yuan. Additionally, the implantable brain-machine interface medical device from Boryung Medical Technology has been approved for market launch, marking a significant advancement in this field

Jufeng Review: Shanghai Composite Index falls below 4100 points, wind power continues to strengthen

This week, the industrial silicon market continued the weak balance pattern of "weak supply and demand," with futures prices maintaining narrow fluctuations. The spot market showed signs of bottoming out due to cost support and a warming macro sentiment. The main contract 2605 closed at 8,645 yuan/ton, a cumulative decrease of 45 yuan/ton, while the comprehensive spot price was 9,211 yuan/ton. Supply slightly increased, mainly concentrated in Xinjiang, but overall supply remained tight, with some companies in certain regions facing cost pressures due to losses

Zhitong

Silicon Industry Association: This week, the industrial silicon market continues the weak balance pattern of "weak supply and weak demand."

07300

513980

07500

07200

03033

As of March 13, 2026, the repurchase amount in the Hong Kong stock market has exceeded HKD 20 billion this year, with the technology ETF Invesco (513980) rising 0.31% against the trend. Despite market fluctuations, the enthusiasm for repurchases among listed companies is high, with Tencent Holdings and Xiaomi Group repurchasing over HKD 6 billion and HKD 4 billion, respectively. Analysts believe that the technology cycle led by AI will drive the reconstruction of technology valuations in the Hong Kong stock market, and southbound capital inflows are expected to continue

FI CSOP HSI

Invesco Great Wall CSI HK Equities Technology ETF

FI2 CSOP HSI

FL2 CSOP HSI

CSOP HS TECH

XIAOMI-W

Tencent

Tencent Holdings Limited

Xiaomi Corporation

The total amount of repurchases in the Hong Kong stock market this year has exceeded HKD 20 billion, and the resilience of the Hong Kong stock technology ETF Invesco (513980) stands out against the market trend

688981

01698

02788

688347

01008

36Kr learned that the Hang Seng Index fell 0.48% at midday, the Hang Seng Tech Index dropped 0.41%, with the semiconductor, automotive, and non-ferrous metal sectors leading the decline. CHUANGXIN IND and HUA HONG SEMI fell over 6%, Li Auto dropped over 2%, and SMIC fell over 1%. The enterprise services, media, and software services sectors led the gains, with LITU HOLDINGS rising over 7%, TME-SW up over 2%, and NetEase and Baidu Group increasing over 1%. Southbound funds had a net purchase of HKD 4.327 billion

36Kr

SMIC

TME-SW

CHUANGXIN IND

Hua Hong

LITU HOLDINGS

LI AUTO-W

The Hang Seng Index fell 0.48% at midday, and the Hang Seng Tech Index dropped 0.41%

512050

On March 13th, the three major A-share indices rose, with strong performance in sectors such as memory chips and agriculture. The central bank stated that it will continue to implement a moderately loose monetary policy to enhance economic support. The A500 ETF fund (512050) increased by 0.08%, with good performance from its holdings, featuring low fees and good liquidity, assisting investors in allocating core A-share assets. This ETF tracks the ChinaAMC CSI A500 Index, covering 35 sub-sectors, making it suitable for investors focusing on emerging industries

- On March 13, A-shares' three major indices turned positive, led by strong performance in sectors such as storage chips, agriculture, and renewable energy.  
- The central bank plans to establish a robust monetary policy framework and maintain a moderately accommodative policy to support economic growth.  
- The A500ETF fund (512050) offers low fees, strong liquidity, and comprehensive sector coverage, appealing to investors seeking to leverage A-share valuations while focusing on critical industries like AI and renewable energy.

ChinaAMC CSI A500 ETF

Central Bank: Continue to implement a moderately loose monetary policy, A500 ETF Fund (512050) to layout core assets in A-shares

.DJI

U.S. stocks suffered a sharp decline under the influence of geopolitical risks and inflation concerns, with all three major indices falling more than 1.5%. Meanwhile, international oil prices surged to $100, with Brent crude futures rising by 9.22%. The escalation of the situation in the Middle East has intensified market worries about supply disruptions, and the International Energy Agency has warned that oil supply interruptions could be the most severe in history. The White House is considering temporarily waiving the Jones Act to alleviate fuel transportation pressures

- The recent escalation in the Middle East has caused significant volatility in global capital markets, with oil prices surging to $100 per barrel following warnings from Iran's new supreme leader.  
- The International Energy Agency reported severe oil supply disruptions, prompting the U.S. to consider amending the Jones Act to alleviate fuel transport pressures.  
- Stock markets fell sharply, led by declines in technology stocks, while some fertilizer producers saw gains due to rising prices driven by regional conflict.

Proshares Big Data Refiners ETF

Dow Jones Industrial Average

SPDR Energy Select

VG S&P 500

Fidelity Nasdaq Composite Index ETF

SPDR S&P 500

S&P 500

iShares Core S&P 500

NASDAQ Composite Index

Dow Jones Utility Average

U.S. stocks faced a Black Thursday: the three major indices collectively plunged over 1.5%, Brent crude surged to $100, and inflation clouds re-emerged

The conflict between the U.S. and Iran continues to escalate, leading to a rise in oil prices and a significant drop in U.S. stocks, with all three major indices falling over 1.5%. Adobe plummeted 7% after its earnings report, and the CEO will resign; precious metals retreated, with gold and silver down 2%, as the surge in oil prices dampens expectations for interest rate cuts. Traders are currently pricing in a reduction of less than 25 basis points by 2026

- The ongoing conflict between the U.S. and Iran has contributed to rising Brent crude oil prices, surpassing $100 for the first time since August 2022.  
- The U.S. stock market saw significant declines, with the S&P 500 dropping 1.5%, while private credit markets faced redemption pressures, forcing firms like Morgan Stanley to limit fund withdrawals.  
- Global trade tensions are escalating, as the U.S. plans to investigate 16 trade partners, including China and the EU, for potential unfair trade practices.

Breakfast

NVDA

INTC

TSMX

The situation in the Strait of Hormuz is tense, and oil prices have returned to $100. The U.S. Secretary of Energy stated that they are not yet ready to provide escort, and oil reserves will be released through swaps. The U.S. has initiated a Section 301 investigation against 16 trading partners. India plans to establish a $11 billion fund to support chip manufacturing. The IEA report indicates a 90% drop in flow through the Strait of Hormuz. Three major chip manufacturers announced price increases in April, with the highest increase being 85%. Anthropic's annual revenue reached $19 billion, and it plans to collaborate with Blackstone to establish an AI consulting company. NVIDIA is investing $26 billion to develop AI models. Li Auto's Q4 revenue decreased by 35% year-on-year, while gross margin rebounded to 16.8%. The Nikkei 225 index, Shanghai Composite Index, and Hang Seng Index all fell

NVIDIA

Intel

Direxion Daily TSM Bull 2X Shares

GraniteShares 2x Long NVDA Daily ETF

iShares Future AI & Tech ETF

T-Rex 2X Inverse NVIDIA Daily Target ETF

Direxion Daily NVDA Bull 2X Shares

AXS 1.5X NVDA Bear Daily ETF

Global news you need to know before the U.S. stock market opens on Thursday

512720

562820

China's exports in January-February 2023 saw a significant year-on-year growth of 21.8%, while import growth was 19.8%. The late timing of the Spring Festival and a low base were the main driving factors. Integrated circuit exports grew by 72.6%, becoming the main driver of growth, and the export prices of AI-related products also rose significantly. Other regions in East Asia, such as Taiwan, South Korea, and Vietnam, also showed strong export performance, indicating high demand for AI-related products

- In January and February, China's exports surged 21.8% year-on-year, while imports increased by 19.8%, driven largely by a delayed Lunar New Year and low baselines from the previous year.  
- Notably, semiconductor exports rose by 72.6%, significantly pushing overall export growth, while AI-related product prices also soared, with integrated circuit prices increasing 55.7% year-on-year.  
- In contrast, regions with lower AI trade intensity, such as India and Australia, showed minimal export growth, highlighting a distinct disparity influenced by the ongoing global AI investment cycle.

GX CN SEMICON-U(09191.HK)

"The price has doubled in six months"! Hard drives have become "electronic gold"

China appreciates 'positive signals' shown by new Dutch government, foreign minister says

Global news you need to know before the U.S. stock market opens on Friday

Spring begins in Shanghai, heavily investing in Shanghai, embracing the future

"Hong Kong Stocks" The Hang Seng Index closed down 251 points, bank stocks under pressure, MTR Corporation and OOIL declined after earnings