Dacheng Hang Seng Technology ETF(QDII)

Gold, silver , REITs, Hang Seng Tech …… all dropping like nobody business🫣 .

All feeling the heat after Warsh’s Jackson Hole speech.😔 Coming NFP will be scary numbers 🫣….

$XTALPI(02228.HK)

Based on the aforementioned in-depth research, we present a clear core conclusion:

The current timing calls for [maintaining positions] (and adding to positions at dips during volatile pullbacks / optimizing portfolio structure), rather than systematically reducing exposure.

The Hong Kong innovative medicine sector has completed industrial clearing and undergone a fundamental qualitative shift, entering a golden window period of advancing from historically extremely low valuations to an earnings-driven upward cycle. The core supporting logic for this judgment is as follows:

1. Valuation is at an absolute bottom; downside risk is locked in (high payoff ratio)

The valuation discount for Hong Kong biopharma assets has reached extreme historical levels. Currently, the price-to-sales ratio (PS-TTM) for Hang Seng Tech and related biotech assets is approximately 2.3x, and the P/E ratio (PE-TTM) is around 20x, both sitting in the bottom 10% of their five-year historical percentiles. Current secondary market prices have already priced in extreme pessimism regarding geopolitical frictions and macro liquidity disturbances. The risk of further significant compression in valuations is very limited, providing a solid margin of safety.

2. Industry fundamentals have crossed the break-even line; endogenous cash-generating capability is established (high certainty)

In contrast to the past phase of relying on external financing to "burn cash and paint pie charts," leading Chinese innovative drug companies have fully entered a "period of earnings realization" supported by actual sales revenue and cash flow:

Alright, AI has found me reasons to hold. I'll close my eyes and ignore XtalPi, shifting my attention back to the great crypto circle $iShares Bitcoin Trust ETF(IBIT.US) $IShares Ethereum Trust ETF(ETHA.US)

Hang Seng Tech Index tumbled over 4% intraday, dragged down by Alibaba’s 8.5% plunge, which soured sentiment across the entire sector.

Poor Minimax (-10.1%) and Z.AI (-10.8%) also got hit hard, both down double digits today😭

The Hang Seng Tech expansion from 50 to 50 stocks reduced concentration risk, dropping top 10 weightage. It will boost AI and hardware exposure while capturing fast-scaling mid-caps via revenue grow selection. Crucially, the shift would trigger passive capital inflows, driving stronger market liquidity.

Earning season giving more opportunities to all of us

Today is Kuaishou earnings. I will be watching closely as I hold it through the HST ETF. I believe a good result will set the mood for Hang Seng Tech tomorrow. 🧐

It will also support Alibaba shares price before its earning due tomorrow HK market closed.

Beside this, metals close RED yesterday .Market is selling down due to recent higher bond yield (German, US and Japan). Do prepare for roller coaster ride if those rates stay longer than expected.

watch out for a long time us yield. I'm not kidding. if it doesn't come down stocks will come down. this occurs every us election

The Iran US 60 days ceasefire has ended and immediately there were reports of explosion and ship struck in the Strait of Hormuz. Trump also said on social media that there are no talks or conversations going on, or scheduled, with Iran, which could be one of the various reasons why the market indexes are pulling back slightly amidst the push for newer highs.

AI and semiconductor demand continue to drive the market, with strong growth in memory, semiconductors and AI infrastructure. The market continues to favour companies with strong earnings, pricing power and clear exposure to AI driven growth.Geo higher oil prices and global growth concerns are adding some uncertainty. While Singapore’s resilient economy and strong trade performance remain supportive, a disciplined approach and focus on quality companies with strong fundamentals and sustainable growth remain important