CSOP Hang Seng HK-US Tech ETF (03442.HK) Up 1.02% as US Tech Rebounds

NewTimeSpace News: As of 10:48 on November 9, CSOP Hang Seng HK-US Tech ETF (03442.HK) rose 1.02% to a latest price of HK$7.410. The ETF has so far traded 318,300 units today, with turnover of HK$2.3581 million and an average price of HK$7.408; its turnover rate is 0.358%. It has gained 1.02% week to date. The net asset value per unit is HK$7.3754, and assets under management stand at HK$656 million. (Note: NAV and AUM are as of November 6; the week-to-date change is based on the previous close of HK$7.335 on November 6, so it matches the one-day gain.)

US technology shares rebounded on November 6 after the prior session's rout: the Nasdaq Composite rose 1.09% to 24,579.42, the S&P 500 gained 0.31% to 7,376.86 and the Dow Jones fell 0.46% to 51,285.73. The Philadelphia Semiconductor Index climbed 4.21%, with Nvidia up 2.87%, Tesla 4.23%, Micron 5.12% and AMD 11%. Chinese ADRs also advanced, with the Nasdaq Golden Dragon China Index up 1.67% and 8.3% for the week; XPeng rose 6.67%, Baidu 3% and Alibaba 1.28%. For the week as a whole, however, the Nasdaq still lost 3.4% and the S&P 500 2.7%. Hong Kong tech extended gains on November 9, with the Hang Seng TECH Index at 4,101.85, up 0.58%, by 10:33.

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.

Huatai Securities attributes last week's global-leading rally in Hong Kong equities to three drivers: extreme pessimism being cleared out, with fear gauges having touched phase lows; a global rebalancing of capital as doubts over the returns on US AI hardware investment pushed money into undervalued Hong Kong internet, consumer and innovative drug names; and easing expectations of a US-Iran conflict, which pulled oil prices and Treasury yields lower and loosened a key constraint on Hong Kong valuations.