JP#HUAHORC2609E

NTES-S

KWAN YONG

PEIJIA-B

REMEGEN

RADIANCE HLDGS

POP MART

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ARCHOSAUR GAMES

XIAOCAIYUAN

HEPALINK

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China's chip exports surged 72.6% to $43.3 billion in January and February, driven by domestic demand and a push for semiconductor self-sufficiency. Integrated circuit exports rose 13.7% in volume to 52.5 billion units. Meanwhile, chip imports increased 39.8% in value to $78.2 billion. The growth reflects a comprehensive government strategy to enhance chip production amid Western trade restrictions. Major chipmakers like SMIC and Hua Hong Semiconductor are expanding production to meet rising global AI demand, with expectations of a 31.3% growth in China's semiconductor market this year.

SCMP

HUA HONG SEMI

Hua Hong

Harvest CSI All Share Integrated Circuit ETF

Harvest SSE STAR Chip ETF

GF Fund CSI Semiconductor Material Equipment Theme ETF

Guotai CSI All Share Integrated Circuit ETF

E Fund CSI Semiconductor Material & Equipment Thematic ETF

China Merchants CSI Semiconductor Industry ETF

Guotai CES Semiconductor Chip Industry ETF

ChinaAMC SSE STAR Semiconductor Material & Equipment Thematic ETF

ChinaAMC Guozheng Semiconductor Chip ETF

GTJA Allianz SSE STAR Chip Design Thematic ETF

ChinaAMC CSI Semiconductor Material & Equipment Thematic ETF

GTJA Allianz CSI All Share Semiconductors & Semiconductor Equipment ETF

SMIC

China’s chip exports surge 73% as AI demand fuels semiconductor growth

BILI

STECH

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Bilibili rose over 4%, XPeng rose nearly 4%, HUA HONG SEMI and KUAISHOU rose nearly 3%. Risk warning and disclaimer: The market has risks, and investment should be cautious. This article does not constitute personal investment advice and does not take into account the specific investment goals, financial situation, or needs of individual users. Users should consider whether any opinions, views, or conclusions in this article are suitable for their specific circumstances. Investment based on this is at one's own risk

华尔街见闻资讯

Bilibili

Hang Seng TECH Index

Hang Seng Index

XPeng

KUAISHOU-W

BILIBILI-W

The Hang Seng Index opened up 1.3%, and the Hang Seng TECH Index rose 2%

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NIO rose over 5%, while Hua Hong Semiconductor, JD HEALTH, and others rose over 3%. Risk warning and disclaimer: The market has risks, and investment should be cautious. This article does not constitute personal investment advice and does not take into account the specific investment goals, financial situation, or needs of individual users. Users should consider whether any opinions, views, or conclusions in this article are suitable for their specific circumstances. Investment based on this is at one's own risk

Wallstreetcn

NIO-SW

JD HEALTH

NIO Inc. USD OV

Global X Autonomous & Electric V

ISHARESHSTECH

CSOP HSI ETF

HSTECH ETF

Dacheng Hang Seng Technology ETF(QDII)

Tianhong Hang Seng TECH ETF(QDII)

ChinaAMC Hang Seng Technology ETF(QDII)

GX HS TECH

Hua Xia CSI New Energy Vehicles ETF

Hwabao WP CSI Intelligent Electric Vehicle ETF

CAM HS TECH

CSOP HS TECH

Hang Seng TECH ETF I

CMS HS TECH

Huatai-PB CSOP Hang Seng Technology ETF(QDII)

NIO Inc

The Hang Seng Index opened up 1.3%, and the Hang Seng TECH Index rose 1.6%

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As of noon, the three major indices of the Hong Kong stock market weakened, with the Hang Seng Index down 2.78% at 25,051.33 points, the Hang Seng Tech Index down 1.96% at 4,780.91 points, and the National Enterprises Index down 2.40% at 8,401.99 points. There is a clear divergence among sectors: the internet content and information sector declined due to the weakness of Chinese concept stocks, with Tencent down 1.57%, Kuaishou down 2.32%, and Baidu down 2.73%; the semiconductor manufacturers sector showed divergence, with Zhaoyi Innovation up 4.91%, while SMIC down 2.00% and Hua Hong Semiconductor down 1.82%; the telecommunications services defensive sector fell slightly. The market is focused on the impact of the Federal Reserve's interest rate cut expectations on HIBOR and the Hong Kong dollar, as well as the potential effects of recent PMI, retail and export performance, southbound capital, earnings season, real estate policies, and transaction factors on risk appetite and sector rotation

- As of noon, Hong Kong's three major indices declined, with the Hang Seng Index falling 2.78% to 25,051.33 points, and the Hang Seng Technology Index dropping 1.96% to 4,780.91 points.  
- The market is influenced by factors such as expectations of a U.S. Federal Reserve interest rate cut and the performance of recent PMI, retail, and export data.  
- Notably, leading tech stocks like Tencent and Alibaba showed significant declines, while some semiconductor stocks, like Zhaoyi Innovation, demonstrated strength amidst overall market volatility.

Market Heartbeat

TENCENT

BIDU-SW

GIGADEVICE

CHINA MOBILE

CHINA TELECOM

CHINA UNICOM

CNOOC

XIAOMI-W

Hong Kong Stock Market Midday Review | Hang Seng Index down 2.78%, Hang Seng Tech down 1.96%, Zhaoyi Innovation up 4.91%

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Hong Kong's semiconductor sector experienced a significant rally, with several key players seeing substantial increases in their stock prices. According to Jin10, Zhaoyi Innovationled the charge, rising over 10%. ASMPTalso saw a notable increase, climbing more than 5%. Other companies such as Huahong Semiconductor, Montage Technology, and Nexchip Microelectronicsalso posted gains, contributing to the overall positive momentum in the market.

CoinLive

ASMPT

MONTAGE TECH

NOVOSENSE

STOCKS | Hong Kong Semiconductor Stocks Surge with Notable Gains

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The three major A-share indices fell in the first half of the day, with the Shanghai Composite Index down 0.2%, the Shenzhen Component Index down 0.7%, and the ChiNext Index down 1.5%. Domestic property stocks generally weakened, with leading stock Vanke down 0.4%. SMIC and Hua Hong fell by 1.4% and 2.5%, respectively. To support enterprises in managing exchange rate risks, the People's Bank of China has lowered the foreign exchange risk reserve ratio for forward foreign exchange sales to zero, causing the offshore RMB to quickly depreciate against the US dollar. There are no reverse repos maturing today, with a net injection of 269 billion yuan for the day

AASTOCKS

Vanke

CHINA VANKE

Hwabao WP CSI 800 Real Estate ETF

China Southern CSI All Share Real Estate ETF

ChinaAMC CSI All Share Real Estate ETF

Yinhua CSI Interior Real Estate Theme ETF

The three major A-share indices of Shanghai and Shenzhen fell in the first half of the day, with the ChiNext dropping 1.5%. Domestic property stocks weakened, and SMIC and Hua Hong showed a bearish trend

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The three major A-share indices opened lower, with the Shanghai Composite Index down 0.4%, the Shenzhen Component Index down 0.9%, and the ChiNext Index down 1.2%. Lithium mining stocks and chip stocks generally retreated, with Ganfeng Lithium and TIANQI LITHIUM opening down 2% and 2.1%, respectively. SMIC and Hua Hong opened down 1.4% and 1.8%. AI chip stock Cambricon opened down 2%. The central parity rate of the RMB against the USD remained unchanged, and the People's Bank of China lowered the foreign exchange risk reserve ratio to zero

TIANQI LITHIUM

Cambricon

GANFENGLITHIUM

Ganfeng Lithium

The three major A-share indices of Shanghai and Shenzhen opened lower by 0.4% to 1.2%, with lithium and chip-related stocks retreating

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Pharmaceutical stocks fell sharply, with WUXI XDC down about 9% and BEONE MEDICINES down about 9%. Technology stocks and automotive stocks also declined, with Bilibili down about 5% and XPeng down about 5%. Semiconductor stocks fell, with HUA HONG SEMI down about 5%

WUXI XDC

BeOne Medicines

CATL

BEONE MEDICINES

The Hang Seng Index closed down 1.44%, the Hang Seng Tech Index fell 2.87%, and CATL dropped about 6%

With the support of the Chinese government, top chip manufacturers such as SMIC and Hua Hong Semiconductor are striving to double the production of advanced semiconductors to meet the demand for artificial intelligence. The goal is to increase the production of 7-nanometer and 5-nanometer chips from less than 20,000 to 100,000 within one to two years, and to plan for an additional increase of 500,000 chips by 2030. However, U.S. export controls may affect the realization of this production increase target

China aims to double advanced chip production capacity, with SMIC and Hua Hong leading the way to meet AI computing demands

36Kr learned that the Hang Seng TECH Index's intraday increase expanded to 1%, XPeng rose over 3%, and HUA HONG SEMI rose by 2%

36Kr

XPENG-W

The Hang Seng TECH Index intraday increase expanded to 1%

Hua Hong Semiconductor (SEHK:1347) reported a return to profitability in Q4 2025 and provided revenue guidance for Q1 2026, leading to a 4.51% share price increase in one day and a 37.91% rise over 90 days. Despite a 137.39% total shareholder return over the past year, analysts consider the stock overvalued at HK$98.4, with a fair value estimate of HK$75.92. Analysts have raised their price target by HK$2, citing stronger revenue growth from AI applications, though profit margins may face pressure. Investors are encouraged to assess the stock's valuation and risks.

Simplywall

A Look At Hua Hong Semiconductor (SEHK:1347) Valuation After Q4 Profit Return And New Revenue Guidance

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KNOWLEDGE ATLAS(02513) rose 42.72%, with a trading turnover 3.2 Billion HKD, and a year-to-date rose 523.9%. MINIMAX-WP(00100) rose 14.52%, with a trading turnover 3.5 Billion HKD, and a year-to-date rose 487.9%. JD HEALTH(06618) fell 6.27%, with a trading turnover 341.2 Million HKD, and a year-to-date rose 2.4%. BIDU-SW(09888) fell 6.25%, with a trading turnover 2.5 Billion HKD, and a year-to-date fell 1.9%.

- The Hang Seng Index fell by 1.1%, with a year-to-date increase of 3.1%, while the Hang Seng Tech Index decreased by 2.91% and is down 5.5% year-to-date.  
- Notable stocks include Zhizhi (02513), which rose by 42.72% with a turnover of 3.24 billion HKD, and MINIMAX-WP (00100), which gained 14.52% with a turnover of 3.53 billion HKD.  
- Conversely, JD Health (06618) and Baidu-SW (09888) declined by 6.27% and 6.25%, respectively, with year-to-date performances of 2.4% and -1.9%.

Top Gainers & Losers

KNOWLEDGE ATLAS

MINIMAX-WP

CHINA RAILWAY

SANHUA

TME-SW

CTG DUTY-FREE

Top 5 HK Stock Gainers/Losers (>100B) (2.20)

Today’s CPI coming in below expectations definitely helps the liquidity narrative. Softer inflation reduces pressure on yields and gives the market room to price in a more dovish path. That’s supportive for risk assets, especially long-duration tech. That said, one print doesn’t make a full pivot. Markets usually need a trend of cooling data before calling it a true liquidity turn. It’s a positive start, but confirmation still matters.

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Apple

Cisco

HAIZHI TECH GP

WOER

Nebius

Coinbase

Airbnb

Apple Group

Sirius XM

Market Shocks: AI, Cisco, Rates

AI remains a long term bull but near term earnings uncertainty is fueling and sharper pullbacks rather than a straight line rallyMargins are key now expect short term volatility and selective dipsFocus on profitable AI infra, energy and select financials

We are indeed entering an 'AI volatility phase,' rather than a pure AI bull market. This perspective is the right mindset.

with rate cuts potentially delayed to July, the bank stocks have been granted a reprieve from the net interest margin compression concern.

AI's disruptions are now spreading into more bread and butter, brick and mortar sectors. Hopefully this will strengthen the AI companies, and eventually, the whole US economy, benefiting all.

2026 Resolution-Trade like professional . Do not FOMO. Keep more cash.

Fattycat

BABA Return Rate

BABA Diamond Holder

Markets are overvalued and needs a breather so whatever the narrative is, it looks like a pullback is due.

Crypto winter is coming, everyone get ready and follow the trend. Do not fight the market!

Best hedge against everything, be it weak data, volatility, or market movement, is still precious metals!

Volatility is here to stay. Look towards other economies instead, like emerging market!

The recent job numbers are excellent! Things will only get better from here! Have faith in the economy!

JP#HUAHORC2609E(55453.HK)

China’s chip exports surge 73% as AI demand fuels semiconductor growth

The Hang Seng Index opened up 1.3%, and the Hang Seng TECH Index rose 2%

The Hang Seng Index opened up 1.3%, and the Hang Seng TECH Index rose 1.6%

Hong Kong Stock Market Midday Review | Hang Seng Index down 2.78%, Hang Seng Tech down 1.96%, Zhaoyi Innovation up 4.91%

STOCKS | Hong Kong Semiconductor Stocks Surge with Notable Gains