Semiconductors Amidst Conflict: A Crisis and an Opportunity – Why Now Could Be the Golden Window to Position for 3132 HK?

Recently, the US-Iran conflict has escalated dramatically, with tensions in the Strait of Hormuz not only driving up oil prices but also creating massive turmoil across global capital markets.$Korea Composite Index (.KOSPI.KR)$ Indexes plummeted over 7% in a single day; Samsung Electronics and SK Hynix shares tumbled by double digits; panic spread across the ocean, affecting US stocks $NVIDIA (NVDA.US)$ 、 $Advanced Micro Devices (AMD.US)$ 、 $Micron Technology (MU.US)$ as well as European lithography giant $ASML Holding (ASML.US)$ , none were spared, collectively tanking.

Amidst the market-wide carnage, one question deserves deep thought: when panic subsides, how should we view the long-term value of the semiconductor industry? For rational investors, every instance of irrational sell-off might be a golden window to position into quality assets.

Short-Term Impact: Supply Chain 'Pain Points' Are Also 'Opportunities'

This conflict impacts the semiconductor industry primarily on two levels:

1. Soaring energy costs:The Strait of Hormuz is a vital route for global liquefied natural gas (LNG) transportation. As global semiconductor manufacturing hubs, South Korea and Taiwan are highly dependent on Middle Eastern LNG. Currently, South Korea's reserves are less than two months' worth. If the conflict persists, power supply will directly threaten wafer fab operations. This explains why South Korean stocks have suffered the steepest declines. [1]

2. Regional supply disruptions: Tower Semiconductor, Israel’s wafer foundry, has experienced shipment delays. Its customers—including giants like NVIDIA, Intel, and Broadcom—have started emergency order transfers. While this represents short-term disruption, it also accelerates the shift of orders to other production capacities. [2]

But on the flip side of the crisis lies opportunity:

– Order transfer effect sparks price hikes:To ensure stable supply, customers are willing to pay premiums to secure capacity, leading to an emerging trend of price increases in mature process nodes. For semiconductor companies with global reach, this means enhanced pricing power.

– Supply chain 'de-risking' provides long-term benefits: Afterthe event, global tech giants will accelerate supply chain diversification. Leading companies with globally distributed production capacity will gain greater influence.

– Energy shocks accelerate technological iteration:Traditional high-energy-consuming processes are under pressure, while advanced processes, with higher energy efficiency, may instead accelerate the replacement process.

Global Layout: $Samsung Bloomberg Global Semiconductor ETF (03132.HK)$Where is the 'moat' of

When a single market or a single link is impacted by geopolitical factors, diversification becomes the best defense. This is exactly where $Samsung Bloomberg Global Semiconductor ETF (03132.HK)$ 's core value lies.

A true global leader portfolio: $Samsung Bloomberg Global Semiconductor ETF (03132.HK)$ tracks leading companies in the global semiconductor industry, with holdings spanning the entire industrial chain from North American design, European equipment to Asian manufacturing.

The advantages of this layout are obvious:

– When South Korea was troubled by an energy crisis, the businesses of North American design leaders and European equipment leaders did not come to a halt.

– When mature process nodes experience price increasesCompanies holding related production capacities benefit directly

– When a single client shifts ordersA balance of give-and-take emerges between global leaders in the industry

Is now a good time to buy? Evaluate from three dimensions

1. Valuation dimension:After this round of sharp declines, the valuations of major semiconductor leaders have significantly retreated from their historical highs. Some institutional investors believe that for long-term funds with strong cash positions, high-quality leading stocks become more attractive for the medium to long term after undergoing substantial corrections.

2. Fundamental dimension:AI demand has not disappeared due to Middle Eastern conflicts, and demand for automotive electronics and high-performance computing remains robust. Analysts point out that the core logic of tightening supply and demand as well as improving fundamentals in the global semiconductor industry has not changed.

3. Risk hedging dimension:For Hong Kong stock investors, directly investing in US or South Korean stocks involves thresholds and exchange rate risks. $Samsung Bloomberg Global Semiconductor ETF (03132.HK)$ Trading in Hong Kong dollars allows investors to conveniently invest in global semiconductor leaders with a single click, avoiding systemic risks associated with a single market.

Stay rational amid panic

History has repeatedly shown that sharp declines triggered by geopolitical tensions often create rare buying opportunities for long-term investors. When the market is driven by sentiment, what ultimately determines value remains a company’s profitability and the industry's long-term trends.

The recent US-Iran conflict has indeed exposed vulnerabilities in the semiconductor industry—dependence on energy and concentrated supply chains. However, it also highlights another aspect: those leading companies with globalized operations, core technologies, and strong bargaining power will ultimately navigate through cycles and emerge stronger.

For investors seeking to capture the long-cycle growth of semiconductors, making allocations via $Samsung Bloomberg Global Semiconductor ETF (03132.HK)$ might be a rational choice to address current volatility while embracing future opportunities.

Source: [1] Sina Finance (March 6, 2026)

[2] Sina Finance (March 3, 2026)

Data Source: Samsung Asset Management (Hong Kong) Limited, as of March 6, 2026

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