Tech stocks heat up, Hang Seng Index rises 412 points; digital technology is currently in the spotlight, consider following the E Fund Digital Technology ETF

US media reports that the US and Iran are nearing a memorandum of understanding. The Iranian Foreign Ministry confirmed it is evaluating the US proposal and will respond within 48 hours, significantly increasing expectations of a ceasefire. Overnight, New York crude oil futures plummeted below the $100 mark, and Asia-Pacific stock markets performed well across the board. Japan's stock market surged 3320 points or 5.6% after the Golden Week holiday, closing at 62,833 points. South Korean stocks rose over 1%, with the country's market capitalization surpassing Canada's to become the world’s seventh-largest market. Taiwan stocks also rose nearly 2%, hitting a recent high. Hong Kong stocks opened with a gap up of 318 points and remained strong throughout the day, further expanding gains in the afternoon to rise as much as 455 points, closing near the day's high at 26,626 points, up 412 points or 1.6%, marking the highest close since February 27. With two consecutive days of gains, the cumulative increase reached 728 points or 2.8%, with total daily turnover at HK$312.4 billion. The Hang Seng Tech Index closed at 5121 points, up 151 points or 3.1%; the Hang Seng China Enterprises Index closed at 8919 points, up 118 points. Southbound capital recorded net outflows for the second consecutive day, with today’s net outflow at RMB 4.8 billion.

The semiconductor sector continued to be the strongest-performing segment of the entire market today, with the Philadelphia Semiconductor Index rising nearly 4.5% overnight. Related stocks in Hong Kong extended their rally with another round of explosive growth across the board. Huahong Semiconductor ( $HUA HONG SEMI (01347.HK)$ rose HK$11.1 or 8.7% to close at HK$141.4, making it the best-performing constituent stock on the Hang Seng Tech Index; Biren Technology $BIREN TECH (06082.HK)$ (6082) rose HK$7.55 or 14.8% to close at HK$58.55; Montage Technology $MONTAGE TECH (06809.HK)$ (6809) rose by 36 yuan or 11.2%, closing at 357.6 yuan; TianShu ZhiXin $ILUVATAR COREX (09903.HK)$ (9903) rose by 25.5 yuan or 4.5%, closing at 597 yuan; SMIC $SMIC (00981.HK)$ (0981) rose by 1.9 yuan or 2.5%, closing at 76.75 yuan; Innoscience $INNOSCIENCE (02577.HK)$ (2577) rose by 3.05 yuan or 4.6%, closing at 69.8 yuan; ASMPT (0522) rose by 3.6 yuan or 2.07%.

Tech stocks performed well today, becoming another major engine driving the market. Alibaba $BABA-W (09988.HK)$ (9988) closed at its daily high of 140.9 yuan, rising by 7 yuan or 5%; Kuaishou $KUAISHOU-W (01024.HK)$ (1024) rose by 3.4 yuan or 7.6%, closing at 48.4 yuan; Baidu $BIDU-SW (09888.HK)$ (9888) rose by 5.7 yuan or 4.3%, closing at 137.3 yuan; Tencent $TENCENT (00700.HK)$ Tencent (0700) saw its HunYuan Hy3 preview version's token usage grow tenfold within two weeks of its launch. The stock price was further driven by the news, with its afternoon gains expanding to HKD 14.4 or 3.1%, closing at HKD 477.4; JD.com $JD-SW (09618.HK)$ (9618) rose by HKD 2.6 or 2.2%, closing at HKD 119; Meituan $MEITUAN-W (03690.HK)$ (3690) climbed by HKD 1.75 or 2.1%, closing at HKD 84.25; Xiaomi (1810) increased by HKD 0.3 or 1%, closing at HKD 31.12. Known as the 'Chinese Warren Buffett', Duan Yongping announced he has swapped his China Shenhua shares for Pop Mart $POP MART (09992.HK)$ (9992), with the stock price rising over 3% in the afternoon, closing at HKD 162.2.

Techtronic Industries $TECHTRONIC IND (00669.HK)$ (0669) became the top-performing blue-chip stock today after JPMorgan issued a report praising its strategic positioning in AI data centers and related infrastructure, which is now seen as a multi-year structural growth driver surpassing its traditional U.S. housing market business. The target price was raised to HKD 176 with an 'Overweight' rating, sending the stock soaring by HKD 11.9 or 10.3%, closing at HKD 126.3.

Amid plunging oil prices, energy stocks fell across the board today, marking the only significantly weak sector in the market. PetroChina $PETROCHINA (00857.HK)$ (0857) dropped by HKD 1 or 8.5%, closing at HKD 10.69, making it the worst-performing blue chip of the day; CNOOC $CNOOC (00883.HK)$ (0883) declined by HKD 1.63 or 5.8%, closing at HKD 26.42; Sinopec (0386) fell by 1.3%, closing at HKD 4.65; oil equipment stock Shandong Molong $SHANDONG MOLONG (00568.HK)$ (0568) also plummeted, dropping by HKD 0.74 or 9.15%, closing at HKD 7.35.

The retreat in oil prices supported gold prices, with New York futures gold returning to $4700 and resuming its upward trend; the entire gold sector performed strongly. Lingbao Gold $LINGBAO GOLD (03330.HK)$ (3330) rose by $1.94 or 9.1%, closing at $23.16; Chifeng Gold $CHIFENG GOLD (06693.HK)$ (6693) rose by $2.44 or 6%, closing at $42.94; Zhaojin Mining $ZHAOJIN MINING (01818.HK)$ (1818) rose by $0.76 or 2.6%, closing at $29.80; Zijin Mining $ZIJIN MINING (02899.HK)$ (2899) rose by $0.86 or 2.3%, closing at $38.16; SPDR Gold ETF $SPDR Gold Trust (02840.HK)$ (2840) rose by $48 or 1.4%, closing at $3410.

Property stocks benefited from the approaching peace talks and renewed market hopes for interest rate cuts, continuing to attract strong capital inflows. New World $NEW WORLD DEV (00017.HK)$ rose by $0.58 or 6.4%, closing at $9.66; China Overseas Land & Investment $CHINA OVERSEAS (00688.HK)$ rose by $0.51 or 3.4%, closing at $15.48; Cheung Kong $CK ASSET (01113.HK)$ rose by $0.75 or 1.5%, closing at $52.20; Longfor Properties $LONGFOR GROUP (00960.HK)$ Up by 0.21 yuan or 2.5%, closing at 8.67 yuan; Henderson Land $HENDERSON LAND (00012.HK)$ Up by 0.36 yuan or 1.1%, closing at 34.56 yuan; CK Hutchison $CKH HOLDINGS (00001.HK)$ Reportedly considering further sales of telecom assets, the stock price rose over 3%, closing at 73 yuan.

In terms of individual stock news, Chow Tai Fook $CHOW TAI FOOK (01929.HK)$ (1929) reported a profit increase, rising by 0.79 yuan or 7.3%, closing at 11.63 yuan; Geekplus-W $GEEKPLUS-W (02590.HK)$ (2590) announced the world’s first RoboShuttle V5 body-intelligent picking solution for box-to-person operations, with its stock price rising nearly 15%, closing at 19.58 yuan; China National Building Material $CNBM (03323.HK)$ (3323) was driven by the rise in both volume and price of fiberglass, climbing nearly 9%, closing at 5.8 yuan; PICC Property $PICC P&C (02328.HK)$ (2328) Q1 results beat expectations, rising more than 7%, closing at 14.87 yuan; 51VR $51WORLD (06651.HK)$ (6651) gained momentum from the concept of 'model-data resonance' initiative, rising 13.5%, closing at 55 yuan; China Telecom $CHINA TELECOM (00728.HK)$ (0728) recently launched its Star TokenHub operation service platform, with its share price rising 4%, closing at 5.35 yuan.

The tech sector performed strongly today, with leading tech giants like Alibaba, Tencent, and Kuaishou seeing significant gains. Additionally, the semiconductor sector surged, with AI infrastructure and digital technology-related companies continuing to attract investor interest. Investors optimistic about the full development of the digital technology supply chain and looking to gain exposure across fintech, digital assets, and leading tech companies in one allocation may consider the E Fund Digital Technology Index ETF. $EFUND DIGITAL ETF (03434.HK)$ (3434), which closed today at HKD 15.55, up HKD 0.46 or 3.05%, benefiting from the overall positive performance of the tech sector. This ETF tracks the Wind Digital Technology Net Total Return Index and primarily invests in approximately 30 digital technology-themed stocks listed in Hong Kong and the US. It covers digital technology service providers, digital infrastructure, digital asset trading technologies, and companies using digital technology for financial management, with Hong Kong-listed stocks accounting for about 65% and US stocks making up 35%. Its top ten holdings include Standard Chartered (2888), HKEX (0388), Alibaba (9988), Tencent (0700), Xiaomi (1810), as well as Robinhood and Coinbase, which are related to crypto and fintech concepts. The holdings span across fintech, e-commerce, tech giants, and crypto-related companies, reflecting the entire digital economy value chain. Investors should note that this ETF is still in its early stages in terms of scale, and tech stocks tend to be highly volatile, involving multi-currency and crypto-related assets. Exchange rate and liquidity risks should be considered, making it suitable for investors optimistic about the long-term development of digital technology and fintech.

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