CSOP FTSE HK-Korea Tech+ Index ETF (03431.HK) Down 0.64% as KOSPI Opens Up Over 3%

NewTimeSpace News: As of 10:15 on November 4, CSOP FTSE HK-Korea Tech+ Index ETF (03431.HK) fell 0.64% to a latest price of HK$8.495. The ETF has so far traded 479,900 units today, with turnover of HK$4.0736 million and an average price of HK$8.488; its turnover rate is 0.421%. It has fallen 0.47% week to date. The net asset value per unit is HK$8.5996, and assets under management stand at HK$980 million. (Note: NAV and AUM are as of November 3; the week-to-date change is based on the October 30 close of HK$8.535.)

South Korea's KOSPI opened up more than 3% on November 4, briefly topping 5,800 points, with SK Hynix up over 5% and Samsung Electronics up more than 3% in early trade. Overnight, US semiconductor shares rebounded, with the Philadelphia Semiconductor Index up 2.64% after falling more than 10% over the prior two sessions; SanDisk gained over 4%, Broadcom and AMD more than 3%, and Western Digital and Micron over 2%. Reuters meanwhile reported that Solidigm, under SK Hynix, plans two NAND plants in Marcy, New York with initial investment of about US$45 billion, but its licence to export US-made semiconductor equipment to its Dalian plant in China has not been approved, complicating the financing of the expansion.

CSOP FTSE HK-Korea Tech+ Index ETF (03431.HK) tracks the FTSE HK-Korea Tech+ Index, whose constituents are large and mid-cap technology companies listed in Hong Kong and South Korea, spanning semiconductors, consumer electronics, internet platforms, and software and services, weighted by market capitalisation to reflect the performance of technology leaders across both markets. The product is managed by CSOP Asset Management Limited.

Nomura believes the market has fundamentally mispriced the memory sector, with current valuations implying peak earnings. It estimates Samsung Electronics and SK Hynix trade at just about 2-3 times 2027 forecast earnings, an 85%-90% discount to technology giants. Meanwhile, third-quarter results from technology giants showed AI investment intent rising rather than fading, though financial capacity is diverging: Meta's quarterly free cash flow turned negative for the first time since its IPO at -US$2.1 billion, Alphabet's was negative for a second straight quarter at -US$9.1 billion, and Amazon's trailing 12-month free cash flow gap widened to -US$42.4 billion.