Semiconductor memory stocks rebound across the board; E Fund (Hk) Solactive Asia Semiconductor Select Index Etf (03486) gains over 6%
- Musk put 13GW of compute online by the end of next year, with an extreme case of 20GW, an ARR target of USD 500 billion to USD 1 trillion by the end of 2027, about half of capacity for internal use and half for rent, and cloud compute rent above USD 50 billion per GW.
- MONTAGE TECH expects third-quarter 2026 net profit of RMB 1.2 billion to RMB 1.3 billion, up 153.6% to 174.7% year on year and 4.3% to 13.0% quarter on quarter.
- The index spans Korea, Taiwan China, the Chinese mainland and Japan, with SK Hynix as its largest constituent, alongside TSMC, SMIC, TOKYO ELECTRON and ASMPT.
Asia-Pacific markets rose broadly today, with the Nikkei 225 up more than 1% and South Korea's KOSPI up over 2%, while Hong Kong technology stocks strengthened. As of 10:00, E Fund (Hk) Solactive Asia Semiconductor Select Index Etf (03486) was up 6.52% in early trade.
Among constituents, MONTAGE TECH rose 9%, SK Hynix gained more than 5%, GIGADEVICE advanced 3.56% and HUA HONG SEMI added 2.45%.
The core catalyst for this round came from SpaceX's AI compute plan: Musk said 13GW of compute would be online by the end of next year, with an extreme case of 20GW, and an ARR target of USD 500 billion to USD 1 trillion by the end of 2027, alongside guidance that roughly half of the compute would be used in-house and half rented out, with cloud compute rent above USD 50 billion per GW. Nebius and CoreWeave also strengthened after the US close, and sentiment along the hardware chain recovered noticeably. In addition, MONTAGE TECH released a profit alert last night, expecting third-quarter 2026 net profit of RMB 1.2 billion to RMB 1.3 billion, up 153.6% to 174.7% year on year and 4.3% to 13.0% quarter on quarter.
CITIC SEC's latest report "Objectively Viewing This Memory Cycle" noted that CXMT CORPORATION's 4F² technology is still at an early validation stage and will have a relatively limited impact on the memory industry in the near to medium term, and recommended watching investment opportunities in the DRAM and NAND segments. BofA Securities said the recent correction in the semiconductor sector was more a cyclical de-rating, with AI infrastructure and HBM demand still structurally supported.
E Fund (Hk) Solactive Asia Semiconductor Select Index Etf (03486) tracks the Solactive Asia Semiconductor Select Index, covering the four core semiconductor production regions of Korea, Taiwan China, the Chinese mainland and Japan. Its largest constituent is SK Hynix, and the portfolio also covers leaders including TSMC, SMIC, TOKYO ELECTRON and ASMPT, offering one-stop exposure across the full memory, foundry, packaging and equipment chain and helping investors capture opportunities from a recovery in AI hardware.
