Geopolitical tensions flare again—mega-cap tech names mostly lower; Csop Mag Seven Etf (03454.HK) slips nearly 2%.

NewTimeSpace — Jan 19: Escalating geopolitical jitters rippled across mega-cap tech overnight. AAPL dropped >1%, GOOGL slid nearly 1% and NVDA shed 0.51%. At 13:33 HKT, Csop Mag Seven Etf (03454.HK) was trading almost 2% lower.

Exchange data show 03454.HK is the only Hong Kong-listed ETF dedicated to the “Mag 7”. Managed by CSOP and tracking the Solactive US Magnificent Seven Index, it packages MSFT, AAPL, NVDA, GOOGL, AMZN, TSLA and META in a single board lot, with a 20% cap per constituent and quarterly re-balancing. Since its Dec-2014 base date the index has delivered an annualised return of ~21%, outperforming the S&P 500 while exhibiting higher volatility than broad benchmarks but lower swings than chip-only gauges. (Source: Wind)

In company-specific news, Washington approved the export of NVIDIA’s H200 AI accelerators to China. A Jan 13 Federal Register notice relaxes licensing requirements for the high-bandwidth GPUs, removing a key overhang on NVDA’s data-centre revenue outlook.

Meanwhile, Meta unveiled a fresh round of lay-offs, cutting a four-digit head-count that hits the cash-burning Reality Labs division hardest. The move signals a strategic pivot away from capital-heavy metaverse hardware toward AI-powered wearables and mobile-first products, aimed at lifting long-term margin sustainability.

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