CSOP Hang Seng HK-US Tech ETF (03442.HK) Up 3.68% After US Tech Rally

NewTimeSpace News: As of 10:13 on November 5, CSOP Hang Seng HK-US Tech ETF (03442.HK) rose 3.68% to a latest price of HK$7.465. The ETF has so far traded 89,100 units today, with turnover of HK$661,300 and an average price of HK$7.422; its turnover rate is 0.100%. It has gained 6.19% week to date. The net asset value per unit is HK$7.1619, and assets under management stand at HK$637 million. (Note: NAV and AUM are as of November 4; the week-to-date change is based on the October 30 close of HK$7.030.)

US stocks closed higher on November 4: the Dow Jones Industrial Average rose 3.03% to 53,356.12, the S&P 500 gained 1.58% to 7,688.62 and the Nasdaq Composite added 1.44% to 25,736.51. Major US media projected a landslide Democratic win in the midterm elections, and strong ADP jobs data helped shift sentiment from fear to optimism about fundamentals. Most mega-cap technology names advanced, with Microsoft up 6.68%, Amazon 6.12%, Apple 5.31% and Google 3.18%, while Apple and Microsoft both hit record highs; Nvidia fell 3.17% and Tesla 3.34%. Chinese ADRs rallied, with the Nasdaq Golden Dragon China Index up 3.49% at 5,722.71: Alibaba gained 5.00%, Baidu 4.50%, NetEase 4.33% and Tencent's ADR 3.99%. Semiconductors bucked the trend, with the Philadelphia Semiconductor Index down 3.13% as memory and optical names led declines.

CSOP Hang Seng HK-US Tech ETF (03442.HK) is a passive ETF under CSOP Asset Management tracking the Hang Seng HK-US Tech Index, which covers technology-related companies listed in Hong Kong and the United States to reflect the performance of tech leaders in both markets. The product listed on the Hong Kong Stock Exchange on March 31, 2025, with a management fee of 0.99% per year.

Terry Sandven, chief equity strategist at Bank of America Wealth Management, said the clarity of the election outcome has reduced market uncertainty; the result implies a degree of political gridlock in US economic policy, a backdrop that has historically been favourable for equities.