CSOP MSCI HK China Connect Select ETF (03432.HK) Up 0.69% as Southbound Buying Tops HK$23.4 Billion

NewTimeSpace News: As of 9:51 on November 4, CSOP MSCI HK China Connect Select ETF (03432.HK) was quoted at HK$102.200, up 0.69%. The ETF has so far traded only 820 units today, with turnover of HK$83,476 and an average price of HK$101.800; its turnover rate is 0.001%. It has gained 1.09% week to date. The net asset value per unit is HK$101.6024, and assets under management stand at HK$10.379 billion. (Note: the ETF has recorded only one trade today, so the price and percentage change are market quotations; NAV and AUM are as of November 3; the week-to-date change is based on the October 30 close of HK$101.100.)

Hong Kong stocks closed higher on November 3, with the Hang Seng Index up 0.57% at 23,525.97, the Hang Seng Tech Index up 0.74% and the Hang Seng China Enterprises Index up 0.47%, while southbound net buying exceeded HK$23.4 billion in a single day — a rarity this year. On November 4, the Hang Seng Index opened down 0.32% at 23,451.79 and the Hang Seng Tech Index fell 0.5%, with most large-cap technology shares lower.

CSOP MSCI HK China Connect Select ETF (03432.HK) is an exchange-traded fund under CSOP tracking the MSCI HK China Connect Select Index, which is composed of selected constituents drawn from China stocks eligible for Stock Connect trading. The index spans multiple sectors, is weighted by market capitalisation and reflects the performance of core Hong Kong-listed assets accessible to offshore investors via Stock Connect. The product is managed by CSOP Asset Management Limited, listed on the Hong Kong Stock Exchange on July 4, 2024, with a management fee of 0.99% per year.

Dongwu Securities believes Hong Kong equities' relative return may moderate from July levels: even with some short-term short covering, the current liquidity backdrop is weaker than in July. Market funds are waiting for a rebound signal in technology hardware, and Hong Kong equities are not part of the high-low switching rotation but rather rely on resonance effects; with limited technology hardware exposure, the upside is relatively constrained.