HK shares ETFs Daily Report: Biotech Surges to Lead as Hong Kong New Listings Plunge and Korea/Semiconductor Themes Retreat Sharply — September 14, 2026

NewTimeSpace · 2026/09/14 16:33 · By Boyuan Chen

On September 14, 2026, the main theme of the HK shares ETFs market switched to biotech. ChinaAMC Hang Seng Hong Kong Biotech Index ETF rose 4.07% to lead, followed by CSOP Hang Seng Biotech ETF and Global X China Biotech ETF, with biotech ETFs sweeping the top three gainers; dividend, EV and new-economy themes posted modest gains. On the downside, Phillip HK Newly Listed Equities Index ETF plunged 6.87% to top the losers, while Korea and semiconductor themes fell sharply, with Xtrackers MSCI Korea UCITS ETF, CSOP KOSPI 200 ETF and E Fund (HK) Solactive Asia Semiconductor Select Index ETF all dropping more than 3%. Southbound Stock Connect ETFs moved in the same direction as the wider market, with biotech leading the gains and Hong Kong-Korea tech and iShares Core MSCI China Index ETF leading the declines.

Key Highlights:

Biotech themes surged across the board, with ChinaAMC Hang Seng Hong Kong Biotech Index ETF up 4.07% to lead, as biotech-related ETFs swept the top three spots on the gainers list — the only direction to form a cluster effect on the day.
Phillip HK Newly Listed Equities Index ETF plunged 6.87% to top the losers, while Korea and Asian tech themes fell across the board, with Xtrackers MSCI Korea UCITS ETF, CSOP KOSPI 200 ETF and E Fund (HK) Solactive Asia Semiconductor Select Index ETF all dropping more than 3%.
Southbound Stock Connect ETFs moved in line with the broader market — biotech led the gains while HK-Korea tech led the declines — as southbound capital likewise completed a rotation toward biopharma.

On September 14, 2026, the HK shares ETFs market showed a clear rotation in leadership. The biotech sector surged across the board, becoming the only segment to form a cluster effect on the day, with the related ETFs sweeping the top three gainers. At the same time, Phillip HK Newly Listed Equities Index ETF plunged 6.87% in a single day, the day's most notable negative shock. Korea and Asian tech themes also suffered concentrated selling, with several related ETFs falling more than 3%. Capital flowed heavily out of Asian tech themes and into biotech and dividend names, forming a clear sector rotation. Within southbound Stock Connect ETFs, biotech likewise led the gains while Hong Kong-Korea tech and China broad-based products came under pressure, with southbound flows broadly in line with the wider market.

Gains were highly concentrated in biotech themes. ChinaAMC Hang Seng Hong Kong Biotech Index ETF (03069.HK), managed by China Asset Management (Hong Kong), rose 4.07% to top the gainers board; CSOP Hang Seng Biotech ETF (03174.HK), managed by CSOP Asset Management, rose 4.05%, close behind; Global X China Biotech ETF (02820.HK), managed by Mirae Asset Global Investments (Hong Kong), rose 3.93%, tracking the Solactive China Biotech Index; E Fund (HK) Solactive Biopharma Select Index ETF (03186.HK), managed by E Fund Asset Management (Hong Kong) Limited, rose 2.17%. Biotech themes took the top four places on the gainers board, forming a pronounced sector cluster effect.

Dividend and new-economy themes posted modest gains. Fullgoal Hang Seng HK High Dividend ETF (03031.HK), managed by Fullgoal Asset Management (Hong Kong) Limited, rose 1.31%; W.I.S.E. - Nasdaq Overseas China New Economy Companies Top 50 Index Tracker (03182.HK), managed by BOCI-Prudential Trustee Limited, rose 1.22%.

EV and Japan themes also performed. Global X China Electric Vehicle ETF (02845.HK), managed by Mirae Asset Global Investments (Hong Kong), rose 1.28%, tracking the Solactive China Electric Vehicle and Battery Index (Net Return); the same manager's Global X Japan Global Leaders ETF (03150.HK) rose 1.04%, tracking the FactSet Japan Global Leaders Index.

In addition, CSOP MSCI HK China Connect Select ETF (03432.HK), managed by CSOP Asset Management, rose 1.01%; Hang Seng HSI ESG Enhanced Select Index ETF (03136.HK), managed by Hang Seng Investment Management, rose 0.83%, tracking the HSI ESG Enhanced Select Index.

HK shares ETFs — Top 10 Gainers
Rank	Code	Name	Change (%)	Underlying Index	Manager
1	03069.HK	ChinaAMC Hang Seng Hong Kong Biotech Index ETF	4.07	Hang Seng Hong Kong-Listed Biotech Index	China Asset Management (Hong Kong)
2	03174.HK	CSOP Hang Seng Biotech ETF	4.05	Hang Seng Hong Kong-Listed Biotech Index	CSOP Asset Management Limited
3	02820.HK	Global X China Biotech ETF	3.93	Solactive China Biotech Index (Net Total Return)	Mirae Asset Global Investments (Hong Kong)
4	03186.HK	E Fund (HK) Solactive Biopharma Select Index ETF	2.17	—	E Fund Asset Management (Hong Kong) Limited
5	03031.HK	Fullgoal Hang Seng HK High Dividend ETF	1.31	—	Fullgoal Asset Management (Hong Kong) Limited
6	02845.HK	Global X China Electric Vehicle ETF	1.28	Solactive China Electric Vehicle and Battery Index (Net Return)	Mirae Asset Global Investments (Hong Kong)
7	03182.HK	W.I.S.E. - Nasdaq Overseas China New Economy Companies Top 50 Index Tracker	1.22	—	BOCI-Prudential Trustee Limited
8	03150.HK	Global X Japan Global Leaders ETF	1.04	FactSet Japan Global Leaders Index (Net Total Return)	Mirae Asset Global Investments (Hong Kong)
9	03432.HK	CSOP MSCI HK China Connect Select ETF	1.01	—	CSOP Asset Management Limited
10	03136.HK	Hang Seng HSI ESG Enhanced Select Index ETF	0.83	HSI ESG Enhanced Select Index	Hang Seng Investment Management
Source/Compilation: Wind / NewTimeSpace, as of the close on September 14, 2026. Coverage: HKD-denominated equity ETFs listed in Hong Kong only.

On the downside, Phillip HK Newly Listed Equities Index ETF plunged 6.87% in a single day, the day's most notable negative shock, tracking the Solactive Hong Kong Newly Listed Equities Index.

Korea and Asian tech themes fell broadly. Xtrackers MSCI Korea UCITS ETF (02848.HK), managed by DWS Investment S.A., fell 4.49%; CSOP KOSPI 200 ETF (03121.HK), managed by CSOP Asset Management, fell 4.00%; the same manager's CSOP KOSPI 200 Covered Call Active ETF (03537.HK) fell 3.41%; CSOP FTSE Asia Tech Index ETF (03473.HK) fell 3.38%; CSOP FTSE HK-Korea Tech+ Index ETF (03431.HK) fell 2.82%.

The semiconductor supply chain came under pressure in tandem. E Fund (HK) Solactive Asia Semiconductor Select Index ETF (03486.HK), managed by E Fund Asset Management (Hong Kong) Limited, fell 3.16%; Global X China Semiconductor ETF (03191.HK), managed by Mirae Asset Global Investments (Hong Kong), fell 3.14%, tracking the FactSet China Semiconductor Index; the same manager's Global X Asia Semiconductor ETF (03119.HK) fell 2.82%.

In addition, CSOP Yinhua CSI 5G Communications Theme ETF (03193.HK), managed by CSOP Asset Management, fell 2.51%, tracking the CSI 5G Communication Index.

HK shares ETFs — Top 10 Losers
Rank	Code	Name	Change (%)	Underlying Index	Manager
1	02835.HK	Phillip HK Newly Listed Equities Index ETF	-6.87	Solactive Hong Kong Newly Listed Equities Index (Net Total Return)	Phillip Capital Management (Hong Kong) Limited
2	02848.HK	Xtrackers MSCI Korea UCITS ETF	-4.49	—	DWS Investment S.A.
3	03121.HK	CSOP KOSPI 200 ETF	-4.00	—	CSOP Asset Management Limited
4	03537.HK	CSOP KOSPI 200 Covered Call Active ETF	-3.41	—	CSOP Asset Management Limited
5	03473.HK	CSOP FTSE Asia Tech Index ETF	-3.38	—	CSOP Asset Management Limited
6	03486.HK	E Fund (HK) Solactive Asia Semiconductor Select Index ETF	-3.16	—	E Fund Asset Management (Hong Kong) Limited
7	03191.HK	Global X China Semiconductor ETF	-3.14	FactSet China Semiconductor Index (Net Total Return)	Mirae Asset Global Investments (Hong Kong)
8	03431.HK	CSOP FTSE HK-Korea Tech+ Index ETF	-2.82	—	CSOP Asset Management Limited
9	03119.HK	Global X Asia Semiconductor ETF	-2.82	ICE FactSet Asia Semiconductor Index (Net Total Return)	Mirae Asset Global Investments (Hong Kong)
10	03193.HK	CSOP Yinhua CSI 5G Communications Theme ETF	-2.51	CSI 5G Communication Index	CSOP Asset Management Limited
Source/Compilation: Wind / NewTimeSpace, as of the close on September 14, 2026. Coverage: HKD-denominated equity ETFs listed in Hong Kong only.

Turning to southbound Stock Connect ETFs, the gainers board was led by biotech and dividend products. ChinaAMC Hang Seng Hong Kong Biotech Index ETF (03069.HK) rose 4.07% to top the list, CSOP Hang Seng Biotech ETF (03174.HK) rose 4.05%, CSOP MSCI HK China Connect Select ETF (03432.HK) rose 1.01%, Ping An of China CSI HK Dividend ETF (03070.HK) rose 0.60% and Hang Seng China Enterprises Index ETF (02828.HK) rose 0.56%.

On the losers board, Hong Kong-Korea tech and tech themes came under pressure. CSOP FTSE HK-Korea Tech+ Index ETF (03431.HK) fell 2.82% to lead the declines, iShares Core MSCI China Index ETF (02801.HK) fell 1.57%, E Fund (HK) FTSE AI Select Index ETF (03489.HK) fell 1.54%, and Bosera China Reform Hong Kong Central-SOEs High Dividend Yield Index ETF (Listed Class) (03437.HK) and Ping An of China Trust - Ping An Technology Select ETF (03406.HK) each fell 0.49%.

The split between the southbound gainers and losers boards broadly mirrors the directional tilt of the wider market: biotech led the gains and Hong Kong-Korea tech led the declines, reflecting a similar concentration by southbound capital on the day into biopharma and a cautious stance on Korean tech and China broad-based products.

Southbound Stock Connect ETFs — Gainers & Losers
Rank	Code	Name	Change (%)	Underlying Index	Manager
Gain 1	03069.HK	ChinaAMC Hang Seng Hong Kong Biotech Index ETF	4.07	Hang Seng Hong Kong-Listed Biotech Index	China Asset Management (Hong Kong)
Gain 2	03174.HK	CSOP Hang Seng Biotech ETF	4.05	Hang Seng Hong Kong-Listed Biotech Index	CSOP Asset Management
Gain 3	03432.HK	CSOP MSCI HK China Connect Select ETF	1.01	—	CSOP Asset Management
Gain 4	03070.HK	Ping An of China CSI HK Dividend ETF	0.60	CSI Hong Kong Dividend Index	Ping An of China Asset Management (Hong Kong)
Gain 5	02828.HK	Hang Seng China Enterprises Index ETF	0.56	Hang Seng China Enterprises Index	Hang Seng Investment Management
Loss 5	03406.HK	Ping An of China Trust - Ping An Technology Select ETF	-0.49	Wind Technology Select Index (HKD, Net Return)	Ping An of China Asset Management (Hong Kong)
Loss 4	03437.HK	Bosera China Reform Hong Kong Central-SOEs High Dividend Yield Index ETF (Listed Class)	-0.49	CSI China Reform Hong Kong Stock Connect Central SOE Dividend Index	Bosera Asset Management (International)
Loss 3	03489.HK	E Fund (HK) FTSE AI Select Index ETF	-1.54	FTSE Custom Global AI Select Index (Net Return)	E Fund Management (Hongkong)
Loss 2	02801.HK	iShares Core MSCI China Index ETF	-1.57	MSCI China Index (USD)	Blackrock Asset Management North Asia
Loss 1	03431.HK	CSOP FTSE HK-Korea Tech+ Index ETF	-2.82	—	CSOP Asset Management
Source/Compilation: Wind / NewTimeSpace, as of the close on September 14, 2026. Coverage: HKD-denominated equity ETFs listed in Hong Kong only.

NewTimeSpace Research shows that September 14 was a session with a clear rotation in leadership. The biotech sector surged across the board, with four related ETFs taking the top four places on the gainers board — the only segment to form a cluster effect on the day. The downside featured two independent sources of pressure: first, Phillip HK Newly Listed Equities Index ETF plunged 6.87% in a single day, the biggest decliner of the day; second, Korea and Asian tech themes fell sharply, with several related ETFs down more than 3%. Comparing the two ends of the board, capital is withdrawing from Asian tech themes and concentrating instead in biotech and dividend names. This style shift did not appear in isolation: biotech led the whole market lower on September 10, and on September 11 only isolated products gained against the trend with the overall market lacking a main theme. Taken together, the past three trading sessions show capital completing a clear rotation from tech growth toward biopharma. Southbound Stock Connect ETFs moved in the same direction as the wider market, with biotech leading the gains and Hong Kong-Korea tech leading the declines, as southbound capital likewise rotated toward biopharma.

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HK Shares ETFs Daily Report CSOP Hang Seng Biotech ETF Global X China Biotech ETF Phillip Hk Newly Listed Equities Index Etf