Global X Fintech ETF(03185.HK) Plunges Over 6% in Morning Trading; US Tech Sector Suffers Worst Selloff Since Last April

NewTimeSpace News, February 4, 2026 – Affected by weakness in US tech stocks, Global X Fintech ETF (03185.HK) plummeted over 6% in morning trading as of 10:37 AM. Data from Wind shows that US tech stocks such as Broadcom and Oracle fell over 3% yesterday.

HKEX data shows Global X Fintech ETF (03185.HK) tracks the Indxx Global FinTech Index, compiled by Indxx using free-float market cap weighting with quarterly rebalancing. Constituents must derive ≥50% of revenue from fintech-related businesses including digital payments, online lending, insurtech, wealthtech, blockchain infrastructure, and credit/RegTech. The index currently comprises approximately 70 constituents covering major markets such as the US, China, India, Brazil, and Japan.

The fund has a combined weighting of approximately 35% in China, India, and Brazil, coupled with mature leaders from the US and Europe, balancing the dual drivers of "penetration improvement" and "earnings realization." The index's historical beta is approximately 1.3, demonstrating superior elasticity compared to traditional financial/technology broad indices during periods of declining interest rates or recovering risk appetite.

On the news front, US AI startup Anthropic launched a new efficiency tool designed to automate legal work for enterprises, sparking investor concerns that software companies' core businesses face replacement threats from AI technology. Overnight, the US tech sector, particularly software stocks, experienced its worst selloff since April last year.

NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.