CSOP Hang Seng HK-US TECH ETF (03442.HK) Rises 0.78% Intraday after US Tech Selloff Sends Intel Down 28.58%

NewTimeSpace News: As of 10:32 on November 2, the CSOP Hang Seng HK-US TECH ETF (03442.HK) rose 0.78% to a latest price of HK$7.085. The ETF has traded 43,000 units so far today for a turnover of HK$304,489 at an average price of HK$7.081, with a turnover rate of 0.048%. It is up 0.78% so far this week. Its current net asset value per unit is HK$7.0798, and its assets under management stand at HK$630 million.

(Note on scope: the net asset value per unit and assets under management are as of October 30, 2026; the week-to-date change is measured against the closing price of HK$7.030 on October 30.)

On the news front, US stocks saw a concentrated sell-off in technology shares on October 30: the Dow Jones Industrial Average fell 1.09% to 51,770.31, the S&P 500 dropped 1.82% to 7,580.07 and the Nasdaq Composite slid 2.86% to 25,437.00, its worst single day since June 5, while the Philadelphia Semiconductor Index lost 7.2%. Intel plunged 28.58% in a single session—its largest one-day drop since 1974—after its fourth-quarter guidance fell short of expectations; Nvidia fell 4.22%, AMD 10.9%, Micron 5.3%, Dell 10.8%, HP 9.6% and SanDisk about 13%. All eight US constituents of the index declined: Alphabet 1.4%, Amazon 1.41%, Apple 1.2%, Meta 1.5%, Microsoft 1.5%, Nvidia 4.22%, SpaceX 6.4% and Tesla 0.9%; Apple's market value slipped to US$5.03 trillion and Nvidia's to US$4.93 trillion, marking the first time since late July that Apple overtook Nvidia to reclaim the title of the world's most valuable company. The Nasdaq fell 4% in October. In Hong Kong, the Hang Seng TECH Index rose 0.87% in early trade on November 2.

The CSOP Hang Seng HK-US TECH ETF (03442.HK) tracks the Hang Seng HK-US TECH Index (net total return version). The index reflects the performance of top technology companies listed in Hong Kong or the United States: its Hong Kong sleeve comprises Hang Seng TECH Index constituents eligible for Stock Connect, weighted by freefloat-adjusted market capitalisation, while its US sleeve consists of eight NASDAQ-listed companies—Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, SpaceX and Tesla—equally weighted; weight caps for the two markets are 60% and 40% respectively, with a minimum of 30 constituents.

Orient Securities believes US artificial intelligence investment still has broad prospects at the industry level, but its growth model, which relies heavily on capital-intensive spending, is under multiple pressures from rising financing needs and costs to lagging commercial returns; the US AI narrative is shifting from a contest over investment scale to a test of returns and sustainability.