HK shares ETFs Daily Report: Biotech Themes Lead as STAR 50 and ChiNext Pull Back - September 17, 2026

On September 17, 2026, the main theme of the HK shares ETFs market rotated to biotech and Japan. ChinaAMC Hang Seng Hong Kong Biotech Index ETF led with a 1.63% gain, while CSOP Hang Seng Biotech ETF, Global X China Biotech ETF and Global X China MedTech ETF strengthened in tandem, with biotech and healthcare themes taking multiple seats among the gainers; Japan themes also performed. On the downside, E Fund (HK) Solactive Global Gold Miner Select Index ETF fell 2.12% to lead the decliners, with the STAR 50 and ChiNext themes that surged the previous session pulling back broadly and China semiconductor names weakening in tandem. Among southbound Stock Connect ETFs, biotech products led the gains while Hong Kong-Korea tech and dividend products led the declines.
Key Highlights:
  • Biotech and healthcare themes led the gains, with ChinaAMC Hang Seng Hong Kong Biotech Index ETF up 1.63% to top the list, as four related ETFs entered the top five gainers.
  • E Fund (HK) Solactive Global Gold Miner Select Index ETF fell 2.12% to lead the losers, while the STAR 50 and ChiNext themes that surged the previous day pulled back broadly.
  • Among southbound Stock Connect ETFs, biotech led the gains while Hong Kong-Korea tech and dividend products led the declines.

On September 17, 2026, the HK shares ETFs market saw tech growth themes take a breather as biotech took over the baton. Biotech and healthcare led the gains, with four ETFs — ChinaAMC Hang Seng Hong Kong Biotech Index ETF, CSOP Hang Seng Biotech ETF, Global X China Biotech ETF and Global X China MedTech ETF — entering the top five gainers; Japan themes strengthened in tandem. On the downside, gold miners and the STAR 50 and ChiNext themes that had led the previous session's gains pulled back broadly, with overall losses limited. Among southbound Stock Connect ETFs, biotech products led the gains while Hong Kong-Korea tech and dividend products led the declines.

Gains were concentrated in biotech and healthcare themes. ChinaAMC Hang Seng Hong Kong Biotech Index ETF (03069.HK), managed by China Asset Management (Hong Kong), rose 1.63% to top the gainers list; CSOP Hang Seng Biotech ETF (03174.HK), managed by CSOP Asset Management Limited, rose 1.59%; Global X China Biotech ETF (02820.HK), managed by Mirae Asset Global Investments (Hong Kong), rose 1.28%, tracking the Solactive China Biotech Index; and Global X China MedTech ETF (02841.HK), from the same manager, rose 1.25%, tracking the Solactive China MedTech Index. The four biopharma-related ETFs took four of the top five spots on the gainers list.

Japan themes strengthened. Global X Japan Global Leaders ETF (03150.HK), managed by Mirae Asset Global Investments (Hong Kong), rose 1.56%, tracking the FactSet Japan Global Leaders Index; ChinaAMC MSCI Japan Hedged to USD ETF (03160.HK), managed by China Asset Management (Hong Kong), rose 1.10%.

Taiwan, Korea and AI infrastructure themes edged higher. Xtrackers MSCI Taiwan UCITS ETF (03036.HK), managed by DWS Investment S.A., rose 1.09%; Global X KOSPI 200 ETF (03408.HK), managed by Mirae Asset Global Investments (Hong Kong), rose 1.05%, tracking the KOSPI 200 Index; Global X AI Infrastructure ETF (03401.HK), from the same manager, rose 1.03%; and Fubon ICE FactSet Taiwan Core Semiconductor Index ETF (03076.HK), managed by Fubon Fund Management (Hong Kong) Limited, rose 0.95%.

HK shares ETFs — Top 10 Gainers

Rank

Code

Name

Change (%)

Underlying Index

Manager

1

03069.HK

ChinaAMC Hang Seng Hong Kong Biotech Index ETF

1.63

Hang Seng Hong Kong-Listed Biotech Index

China Asset Management (Hong Kong)

2

03174.HK

CSOP Hang Seng Biotech ETF

1.59

Hang Seng Hong Kong-Listed Biotech Index

CSOP Asset Management Limited

3

03150.HK

Global X Japan Global Leaders ETF

1.56

FactSet Japan Global Leaders Index (Net Total Return)

Mirae Asset Global Investments (Hong Kong)

4

02820.HK

Global X China Biotech ETF

1.28

Solactive China Biotech Index (Net Total Return)

Mirae Asset Global Investments (Hong Kong)

5

02841.HK

Global X China MedTech ETF

1.25

Solactive China MedTech Index (Net Total Return)

Mirae Asset Global Investments (Hong Kong)

6

03160.HK

ChinaAMC MSCI Japan Hedged to USD ETF

1.10

China Asset Management (Hong Kong)

7

03036.HK

Xtrackers MSCI Taiwan UCITS ETF

1.09

DWS Investment S.A.

8

03408.HK

Global X KOSPI 200 ETF

1.05

KOSPI 200 Index

Mirae Asset Global Investments (Hong Kong)

9

03401.HK

Global X AI Infrastructure ETF

1.03

Mirae Asset Global Investments (Hong Kong)

10

03076.HK

Fubon ICE FactSet Taiwan Core Semiconductor Index ETF

0.95

ICE FactSet Taiwan Core Semiconductor 10% OTC Capped Index

Fubon Fund Management (Hong Kong) Limited

Source/Compilation: Wind / NewTimeSpace, as of the close on September 17, 2026.
Coverage: HKD-denominated equity ETFs listed in Hong Kong only.

On the downside, gold miners led the declines. E Fund (HK) Solactive Global Gold Miner Select Index ETF (02824.HK), managed by E Fund Asset Management (Hong Kong) Limited, fell 2.12%, the biggest decliner of the day, after rising 3.66% the previous day (September 16).

The tech growth themes that had led the previous session's gains pulled back broadly. Global X China Semiconductor ETF (03191.HK), managed by Mirae Asset Global Investments (Hong Kong), fell 1.52% after rising 4.29% the previous day; Bosera SZSE ChiNext Daily (2x) Leveraged Product (07234.HK), managed by Bosera Asset Management (International), fell 1.07% after rising 4.62%; Bosera STAR 50 Index ETF (02832.HK), from the same manager, fell 1.01% after rising 4.77%; and CSOP STAR 50 Index ETF (03109.HK), managed by CSOP Asset Management Limited, fell 0.82% after rising 4.08%.

Hong Kong-Korea tech and Korea themes weakened. CSOP FTSE HK-Korea Tech+ Index ETF (03431.HK), managed by CSOP Asset Management Limited, fell 1.24%; CSOP KOSPI 200 ETF (03121.HK), from the same manager, fell 1.08%.

A50 and dividend themes pulled back modestly. CSOP MSCI China A 50 Connect ETF (03003.HK), managed by CSOP Asset Management Limited, fell 0.89%, tracking the MSCI China A50 Connect Index; E Fund (HK) MSCI China A50 Connect ETF (03111.HK), managed by E Fund Asset Management (Hong Kong) Limited, fell 0.82%; and CSOP Hang Seng Stock Connect High Dividend ETF (03469.HK), managed by CSOP Asset Management Limited, fell 0.80%.

HK shares ETFs — Top 10 Losers

Rank

Code

Name

Change (%)

Underlying Index

Manager

1

02824.HK

E Fund (HK) Solactive Global Gold Miner Select Index ETF

-2.12

E Fund Asset Management (Hong Kong) Limited

2

03191.HK

Global X China Semiconductor ETF

-1.52

FactSet China Semiconductor Index (Net Total Return)

Mirae Asset Global Investments (Hong Kong)

3

03431.HK

CSOP FTSE HK-Korea Tech+ Index ETF

-1.24

CSOP Asset Management Limited

4

03121.HK

CSOP KOSPI 200 ETF

-1.08

CSOP Asset Management Limited

5

07234.HK

Bosera SZSE ChiNext Daily (2x) Leveraged Product

-1.07

ChiNext Index (HKD) (CNH)

Bosera Asset Management (International)

6

02832.HK

Bosera STAR 50 Index ETF

-1.01

SSE STAR 50 Index

Bosera Asset Management (International)

7

03003.HK

CSOP MSCI China A 50 Connect ETF

-0.89

MSCI China A50 Connect Index (USD)

CSOP Asset Management Limited

8

03111.HK

E Fund (HK) MSCI China A50 Connect ETF

-0.82

MSCI China A50 Connect Index

E Fund Asset Management (Hong Kong) Limited

9

03109.HK

CSOP STAR 50 Index ETF

-0.82

SSE STAR 50 Index

CSOP Asset Management Limited

10

03469.HK

CSOP Hang Seng Stock Connect High Dividend ETF

-0.80

Hang Seng Stock Connect High Dividend Low Volatility Index

CSOP Asset Management Limited

Source/Compilation: Wind / NewTimeSpace, as of the close on September 17, 2026.
Coverage: HKD-denominated equity ETFs listed in Hong Kong only.

Among southbound Stock Connect ETFs, the top five gainers were: ChinaAMC Hang Seng Hong Kong Biotech Index ETF (03069.HK), up 1.63% to lead; CSOP Hang Seng Biotech ETF (03174.HK), up 1.59%; CSOP Hang Seng HK-US TECH ETF (03442.HK), up 0.19%; iShares Core MSCI China Index ETF (02801.HK), up 0.17%; and Ping An of China Trust - Ping An Technology Select ETF (03406.HK), up 0.07%.

The top five losers were: CSOP FTSE HK-Korea Tech+ Index ETF (03431.HK), down 1.24% to lead; CSOP Hang Seng Stock Connect High Dividend ETF (03469.HK), down 0.80%; ChinaAMC HSI ESG ETF (03403.HK), down 0.70%; Bosera China Reform Hong Kong Central-SOEs High Dividend Yield Index ETF (Listed Class) (03437.HK), down 0.69%; and Global X Hang Seng High Dividend Yield ETF (03110.HK), down 0.65%.

Within southbound ETFs, biotech products led the gains while Hong Kong-Korea tech and dividend products led the declines, broadly in line with the day's price direction across the wider market.

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

1.63

Hang Seng Hong Kong-Listed Biotech Index

China Asset Management (Hong Kong)

Gain 2

03174.HK

CSOP Hang Seng Biotech ETF

1.59

Hang Seng Hong Kong-Listed Biotech Index

CSOP Asset Management

Gain 3

03442.HK

CSOP Hang Seng HK-US TECH ETF

0.19

Hang Seng HK-US Technology Index

CSOP Asset Management

Gain 4

02801.HK

iShares Core MSCI China Index ETF

0.17

MSCI China Index (USD)

BlackRock Asset Management North Asia

Gain 5

03406.HK

Ping An of China Trust - Ping An Technology Select ETF

0.07

Wind Technology Select Index (HKD, Net Return)

Ping An of China Asset Management (Hong Kong)

Loss 5

03110.HK

Global X Hang Seng High Dividend Yield ETF

-0.65

Hang Seng High Dividend Yield Index

Mirae Asset Global Investments (Hong Kong)

Loss 4

03437.HK

Bosera China Reform Hong Kong Central-SOEs High Dividend Yield Index ETF (Listed Class)

-0.69

CSI China Reform Hong Kong Stock Connect Central SOE Dividend Index

Bosera Asset Management (International)

Loss 3

03403.HK

ChinaAMC HSI ESG ETF

-0.70

HSI ESG Enhanced Index

China Asset Management (Hong Kong)

Loss 2

03469.HK

CSOP Hang Seng Stock Connect High Dividend ETF

-0.80

Hang Seng Stock Connect High Dividend Low Volatility Index

CSOP Asset Management

Loss 1

03431.HK

CSOP FTSE HK-Korea Tech+ Index ETF

-1.24

CSOP Asset Management

Source/Compilation: Wind / NewTimeSpace, as of the close on September 17, 2026.
Coverage: HKD-denominated equity ETFs listed in Hong Kong only.

Data from NewTimeSpace Research shows that the day's core feature was a wholesale reversal of direction from the previous session: the tech growth names that led the previous day's gains pulled back broadly, while the biotech and healthcare themes that had weakened the previous day recovered across the board. The reversal was not accompanied by widening losses — the biggest decliner was down just 2.12% and the biggest gainer was up only 1.63%, leaving both ends of the board tightly capped. Viewed against the prior two sessions, the market has yet to establish a sustained main line, with themes rotating at a rapid pace.

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