CSOP Hang Seng TECH Index ETF (03033.HK) Rises 2.21% Intraday as MiniMax Open-Sources M3.1 Flash at 70% Lower Cost

NewTimeSpace News: As of 13:57 on October 23, the CSOP Hang Seng TECH Index ETF (03033.HK) rose 2.21% to a latest price of HK$3.792. The ETF has traded 2.132 billion units so far today for a turnover of HK$8.006 billion at an average price of HK$3.754, with a turnover rate of 14.42%. It is down 5.86% so far this week. Its current net asset value per unit is HK$3.7199, and its assets under management stand at HK$55.018 billion.

(Note on scope: the net asset value per unit and assets under management are as of October 22, 2026; the week-to-date change is measured against the closing price of HK$4.028 on October 16.)

On the news front, Hong Kong tech stocks rallied in the afternoon of October 23, with the Hang Seng TECH Index extending gains to 1.76% at 3,860.72; among constituents, MiniMax rose more than 13% and Zhipu more than 7%, BYD and XPeng gained more than 5%, and Xiaomi, NIO and Li Auto each rose more than 4%. On individual catalysts, MiniMax open-sourced its M3.1 Flash model on October 23 — the model processed more than 100 trillion tokens within 72 hours of launch, with capabilities comprehensively improved and usage costs cut 70% versus the previous M3 generation; the company said it will work with chipmakers including Huawei Ascend, T-Head, Kunlunxin, Moore Threads, Nvidia and AMD, as well as inference and cloud platforms such as Together AI, Fireworks and Nebius, to support day-one access to M3.1 Flash. Separately, according to Jiemian News, DeepSeek plans to raise about RMB100 billion in its latest funding round, with Tencent and CATL the largest investors and the deal expected to close within days. US stocks weakened overnight, with the Nasdaq down 2.6% and the Philadelphia Semiconductor Index down 6.72%.

The CSOP Hang Seng TECH Index ETF (03033.HK) tracks the Hang Seng TECH Index. The index covers the largest 30 Hong Kong-listed companies that are highly relevant to technology themes after screening; constituents must belong to the industrials, consumer discretionary, healthcare, financials or information technology sectors, and their businesses must be highly related to themes such as the internet (including mobile applications), fintech, cloud, e-commerce, digitalisation or intelligentisation. It is weighted by freefloat market capitalisation with an 8% cap on any single constituent and is reviewed quarterly. The fund adopts a full replication strategy.

Guolian Minsheng Securities believes that AI trading is moving from broad valuation expansion into a phase of verifying earnings, orders and investment returns, though the medium-term trend of rising AI investment and inference demand has not reversed; investors should focus on platform internet companies with stable cash flow, clear AI commercialisation paths and ecosystem gateway advantages, as well as domestic computing-power chain leaders whose order delivery and profitability can be consistently delivered.