CSOP Hang Seng Tech ETF (03033.HK) Up 0.35% as Hong Kong Tech Opens Higher

NewTimeSpace News: As of 10:26 on November 9, CSOP Hang Seng Tech ETF (03033.HK) rose 0.35% to a latest price of HK$4.008. The ETF has so far traded 690.16 million units today, with turnover of HK$2.792 billion and an average price of HK$4.045; its turnover rate is 4.515%. It has gained 0.35% week to date. The net asset value per unit is HK$3.9968, and assets under management stand at HK$61.099 billion. (Note: NAV and AUM are as of November 6; the week-to-date change is based on the previous close of HK$3.994 on November 6, so it matches the one-day gain.)

Hong Kong stocks opened higher on November 9. The Hang Seng Index opened at 24,625, up 143 points or 0.59%, and the Hang Seng TECH Index at 4,119, up 41 points or 1.02%. By 10:10 the tech index stood at 4,105.24, paring gains to 0.66%, while the benchmark was at 24,617.29, up 0.55%. Heavyweights were broadly firmer: Alibaba opened up 2.19%, Baidu gained 2.3%, Tencent 1.29% and Xiaomi nearly 2%, while JD.com and Meituan edged up 0.09% and 0.31% respectively and NIO rose more than 5%. Chip names rebounded with overseas peers, with Hua Hong Semiconductor up 2.64% and SMIC 2.24%. Abroad, US stocks steadied on Friday, November 6: the Dow Jones fell another 0.46%, the Nasdaq gained 1.09% and the Philadelphia Semiconductor Index rebounded more than 4%.

CSOP Hang Seng Tech ETF (03033.HK) is a passive ETF under CSOP that closely tracks the Hang Seng Tech Index. Compiled by Hang Seng Indexes, the index reflects the performance of the 30 largest companies listed in Hong Kong that are classified under the industrials, consumer discretionary, healthcare, financials and information technology sectors and are highly relevant to the technology theme, weighted by free-float market capitalisation with an 8% cap on any single constituent. The product is managed by CSOP Asset Management Limited, with a management fee of 0.99% per year.

JPMorgan believes the latest policy package was not a "heavy cannon", but it leaves the market bottom on firmer footing; forward price-to-earnings ratios for the MSCI China and CSI 300 indices are only about 9% above their levels on September 24, 2024, offering attractive risk-reward, with valuation resets, strong earnings growth and AI localisation all providing support.