What's going on? Kingsoft Cloud surged 18% in the afternoon! Hong Kong tech stocks suddenly rallied, Huabao Fund Hong Kong Technology ETF (159131) up 1.89%

This afternoon (March 18), Hong Kong stocks of hard technology stocks surged. Kingsoft Cloud quickly rose 18%, Hongteng Precision increased over 12%, GigaDevice, Shanghai Fudan rose more than 8%, and Kingdee International gained over 5%. The only Hong Kong stock information technology ETF (159131) in the entire market opened high in the morning, then fluctuated and weakened, but suddenly surged in the afternoon, reaching a peak of 1.89%, now up 1.77%.

On the news front, Goldman Sachs research reports that open-source AI agent OpenClaw (Lobster) can perform real tasks. Its rapid popularization demonstrates the huge potential of AI applications and can quickly expand scale by meeting user needs with killer features. The firm reiterates a positive outlook for the AI infrastructure supply chain and expects that once reasoning demand takes off, it will bring exponential growth to semiconductor and hardware demand. The bank expects large language models and cloud providers like Kingsoft Cloud to benefit.

CITIC Construction Investment believes that, under the overall slowdown of industry capacity expansion, the increase in penetration driven by localization remains an important source of future growth for the equipment sector. We judge that the future localization rate of equipment will rapidly increase, with leading equipment manufacturers expected to see order growth of over 20-30% by 2025. The localization process of key components, especially critical parts, is expected to accelerate, and the overall fundamentals of the sector are positive.

Directly pointing to the Hong Kong chip super cycle! The T+0 Hong Kong stock chip industry chain ETF—the only ETF in the market focusing on the “Hong Kong chip” industry chain (159131)—is composed of an index with 70% hardware + 30% software, heavily weighted in Hong Kong stocks in “semiconductors + electronics + computer software,” covering 45 Hong Kong tech companies, including SMIC with a weight of 14.07%, Xiaomi Group-W with 12.41%, and Huahong Semiconductor with 7.47%. It excludes large-cap internet companies like Alibaba, Tencent, Meituan, making it more focused and easier to capture Hong Kong AI and hardware tech trends. (As of March 11, 2026)

Data source: China Securities Index Co., Ltd., Shanghai and Shenzhen Stock Exchanges.

Note: “The only in the market” refers to the only ETF tracking the CSI Hong Kong Stock Connect Information Technology Composite Index.

Fund fee disclosure: The Hong Kong stock information technology ETF’s subscription and redemption agent may charge a commission of up to 0.5%. On-market trading fees are based on the actual charges of securities firms. No sales service fee is charged.

Risk warning: The Hong Kong Stock Connect Information Technology ETF passively tracks the CSI Hong Kong Stock Connect Information Technology Composite Index, which was established on November 14, 2014, and released on June 23, 2017. The index components listed here are for display purposes only; individual stock descriptions do not constitute investment advice and do not represent holdings or trading trends of any fund managed by the manager. This product is issued and managed by Huabao Fund, and the distribution agency does not assume responsibility for investment, redemption, or risk management. Investors should carefully read the fund contract, prospectus, and key information documents to understand the risk-return profile of the fund and choose products suitable for their risk tolerance. Past performance does not predict future results, and the performance of other funds managed by the fund manager does not guarantee future performance. Investment in funds should be cautious! The fund’s risk level as assessed by the manager is R4—medium-high risk, suitable for active investors (C4) and above. Sales organizations (including the fund manager’s direct sales channels and other sales agencies) evaluate the risk of this fund according to relevant laws and regulations. Investors should pay attention to suitability opinions issued by sales agencies and rely on their matching results. Different sales agencies may have different opinions on suitability, and the risk level assessments provided by sales agencies should not be lower than those made by the fund manager. The fund contract may have differences in risk-return characteristics and risk levels due to different considerations. Investors should understand the fund’s risk-return profile, consider their own investment goals, time horizon, experience, and risk capacity, and choose fund products carefully, bearing the risks themselves. The China Securities Regulatory Commission’s registration of this fund does not imply any substantive judgment or guarantee of its investment value, market prospects, or returns. Funds carry risks; investment should be cautious.

MACD golden cross signals formed, these stocks are on a good upward trend!