CSOP FTSE HK-Korea Tech+ ETF (03431.HK) Down 5.24% After SOX Plunge

NewTimeSpace News: As of 9:44 on November 6, CSOP FTSE HK-Korea Tech+ ETF (03431.HK) fell 5.24% to a latest price of HK$8.325. The ETF has so far traded 472,700 units today, with turnover of HK$3.9398 million and an average price of HK$8.335; its turnover rate is 0.415%. It has fallen 2.46% week to date. The net asset value per unit is HK$8.831, and assets under management stand at HK$1.007 billion. (Note: NAV and AUM are as of November 5; the week-to-date change is based on the October 30 close of HK$8.535.)

US stocks fell sharply overnight into November 6: the Nasdaq dropped 5.52%, the S&P 500 4.35%—its worst day since April 2025—and the Dow 3.44%, while the Philadelphia Semiconductor Index plunged 12.25%, its steepest fall since 2020. Nvidia lost 9.18%, shedding US$447 billion in market value, and Tesla fell 10.86%. Memory names led the decline, with SanDisk down over 22%, Western Digital and Micron over 17% and SK Hynix over 13%. Losses continued across Asia on November 6: Samsung Electronics and SK Hynix fell 12% and 15% respectively in pre-market trading on Korea's Nextrade, the KOSPI fell as much as 8.8%, broke below 5,000 and triggered a 20-minute trading halt, and Japan's Nikkei 225 lost the 60,000 level. The selloff was attributed to expectations of tighter AI regulation under a Democratic-controlled Congress and doubts over how long the memory price upcycle can last.

CSOP FTSE HK-Korea Tech+ 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.

Jerry Chen, senior analyst at Forex.com, sees two things to watch: whether the US launches military action against Iran after the election, which would push oil prices higher and could weigh on sentiment and tighten liquidity; and, with Democratic control of Congress now established, a shift in market focus toward fiscal policy, debt, AI regulation and tariffs.