Overseas Developments Trigger Market Turbulence, Hang Seng Tech Index Tumbles; iShares Hang Seng TECH ETF (03067.HK) Plunges Over 3.6%

NewTimeSpace Wire:Following the confirmation of the Federal Reserve Chair nomination, market expectations for rate cuts have receded. The Hang Seng Tech Index opened lower and extended declines in early trading today, with constituent stocks broadly weakening. Internet and technology names saw widespread pullbacks, while new energy vehicle makers led the losses—XPeng plunged over 9% at one point, with NIO, Leapmotor, and Li Auto also among the top decliners. iShares Hang Seng Tech ETF (03067.HK) tumbled over 3.6%.

HKEX data shows iShares Hang Seng Tech ETF (03067.HK) is managed by BlackRock Asset Management North Asia Limited. The fund tracks the Hang Seng Tech Index, investing primarily in representative companies of Hong Kong's technology sector. The index covers 30 leading Hong Kong-listed tech giants, spanning both hardware and software, with deep exposure across the AI industry chain from upstream to downstream. Alibaba, Tencent, Xiaomi, Meituan, SMIC, and BYD are positioned to become China's "Magnificent Seven" tech giants.

On the news front, Hong Kong's leading enterprises have launched a share buyback spree since the start of 2026, with technology companies serving as the primary force. According to Wind data, as of January 26, a total of 108 Hong Kong-listed companies had implemented share repurchases, with cumulative buyback amounts exceeding HKD 11.7 billion. Tencent Holdings and Xiaomi Group contributed the bulk of this buyback wave.

Zhongtai Securities noted that looking ahead, the Hong Kong stock market is expected to continue its structural uptrend in the near term, supported by Fed rate cut expectations and the sustained recovery of A-share sentiment. The continuous improvement in AI demand guidance will make Hong Kong tech the most anticipated direction, with relevant leading companies poised to benefit from the booming AI industry.

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