CSOP Hang Seng HK-US Tech ETF (03442.HK) Down 2.87% as Nasdaq Slides 5.52%

NewTimeSpace News: As of 9:48 on November 6, CSOP Hang Seng HK-US Tech ETF (03442.HK) fell 2.87% to a latest price of HK$7.285. The ETF has so far traded 111,200 units today, with turnover of HK$808,402 and an average price of HK$7.270; its turnover rate is 0.125%. It has gained 3.63% week to date. The net asset value per unit is HK$7.2925, and assets under management stand at HK$649 million. (Note: NAV and AUM are as of November 5; the week-to-date change is based on the October 30 close of HK$7.030.)

US stocks closed sharply lower on November 5: the Nasdaq Composite fell 5.52% to 24,315, the S&P 500 dropped 4.35% to 7,353.73 — its worst day since April 2025 — and the Dow Jones fell 3.44% to 51,523.06. The Philadelphia Semiconductor Index plunged 12.25%, its steepest decline since 2020, with Nvidia down 9.18% and shedding US$447 billion in market value, Tesla down 10.86%, and SanDisk down over 22% while Western Digital and Micron each fell more than 17%. Chinese ADRs bucked the trend, with the Nasdaq Golden Dragon China Index up 0.43%, Miniso up nearly 6% and NetEase over 4%. Hong Kong stocks opened lower on November 6, with the Hang Seng TECH Index at 4,060.57, down 2.26%.

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.

Rich Privorotsky, head of European equity trading at Goldman Sachs, argues that after weeks of selling in US AI names, valuations have corrected and there is short-covering demand; the election result may in fact accelerate capex rather than curb it — if a new administration in 2029 pushes tax changes, tighter administrative oversight and tougher merger review, hyperscalers may speed up their build-outs.