ETF Movement | Chinaamc NASDAQ Index rises nearly 3%, major U.S. stock indices experience a strong breakthrough, UBS indicates a strong momentum for U.S. Q2 earnings season

According to Zhitong Finance APP, China Asset NASDAQ (03086) rose nearly 3%, as of the time of writing, up 2.98% to HKD 60.86, with a trading volume of HKD 5.823 million. It is reported that China Asset NASDAQ is highly concentrated in the U.S. technology sector, with NVIDIA, Apple, Microsoft, Amazon, and Meta being the top five holdings.

In terms of news, on August 4th, Eastern Time, major U.S. stock indices experienced a strong breakout, with the S&P 500 index reaching an all-time high; the NASDAQ index surged 3.5% during the day, marking the largest single-day increase since May 2025. Industry insiders analyzed that the direct catalyst for this round of increase comes from multiple directions: U.S. Treasury Secretary Scott Bessent stated on CNBC that the Iran agreement could be finalized "in the next day or two," leading to a nearly 6% drop in oil prices, a subsequent decline in inflation expectations, and a 3 to 5 basis point decrease in Treasury yields, providing strong support for the stock market.

UBS believes that the market may be underestimating the sustainability of the current earnings cycle, with the degree of underestimation exceeding the impact of geopolitical noise from the Strait of Hormuz. The basic judgment is that energy flow through the Strait will gradually recover rather than rebound quickly, which will continue to drive the stock market upward supported by strong earnings growth. UBS pointed out that the momentum of the U.S. second-quarter earnings season is strong, with the breadth and magnitude of earnings exceeding historical averages