20cm Express | Guotai (588120) Science and Technology Innovation 100 ETF rises over 1.2% intraday, continued prosperity of tech growth coupled with positive earnings expectations

On May 12th, the Guotai (588120) Science and Technology Innovation 100 ETF rose over 1.2% intraday, with continued momentum in the technology growth sector and improved earnings expectations.

CITIC Securities pointed out that in April, driven by easing geopolitical conflicts, loose liquidity, and positive first-quarter earnings expectations, the market showed a preference for technology growth, with the TMT technology sector leading this month, and electronics and communications industries leading the gains. The three departments introduced policies to support technological innovation, the semiconductor equipment market is optimistic about growth, and the domestic AI computing power ecosystem is accelerating its development, further promoting the growth of tech companies in the innovation sector. On the macro front, manufacturing PMI recorded 50.3%, and PPI turned positive year-on-year, indicating a mild recovery, while the DR007 rate dipped to 1.32% and the 10-year government bond yield fell to 1.74%, creating a loose environment that supports valuation recovery for growth stocks. In terms of style, the market favored growth, with small- and mid-cap stocks outperforming large caps. Among broad-based indices, the Sci-Tech Innovation 50, CSI 1000, and CSI 2000, which represent small- and mid-cap stocks, outperformed the CSI 300, with high elasticity and sectors with high prosperity being more favored by funds. Looking ahead to May, the core market driver will shift to deepening AI industry trends and earnings from the first quarter. On one hand, with the landing of orders at NVIDIA’s GTC conference and progress in commercializing domestic large models, coupled with the catalytic effect of model iterations like DeepSeek-V4, the commercialization capability of the domestic computing industry chain has been validated; on the other hand, as annual and quarterly reports are disclosed, the market will shift from expectations to actual performance, with funds increasingly focusing on hard technology companies capable of delivering results.

The Guotai (588120) Science and Technology Innovation 100 ETF tracks the Sci-Tech Innovation 100 Index (000698), with a limit of 20% on gains and losses. The index selects 100 securities from the STAR Market with moderate market capitalization and good liquidity, focusing on reflecting the overall performance of companies with small- and mid-cap growth characteristics and hard technology attributes. The index’s industry distribution is relatively balanced, covering fields such as semiconductors, biomedicine, and electrical equipment, emphasizing R&D investment and new productivity features of sample companies, making it suitable for investors interested in technology innovation opportunities.

Risk warning: Mentioned individual stocks are for industry event analysis only and do not constitute any stock recommendation or investment advice. Short-term index fluctuations are for reference only and do not predict future performance, nor do they constitute a promise or guarantee of fund performance. Views may change with market conditions and do not constitute investment advice or commitments. Different funds have different risk and return profiles; investors are advised to carefully read the fund legal documents, fully understand product features, risk levels, and distribution principles, and choose products that match their risk tolerance. Please consult legal documents for fund fee rates.

Daily Economic News

(Edited by: Zhang Xiaobo)

【Disclaimer】This article reflects only the author’s personal views and is not related to Hexun.com. Hexun maintains neutrality regarding the statements and opinions in this article and does not provide any explicit or implicit guarantees regarding the accuracy, reliability, or completeness of the content. Readers should use it for reference only and bear all responsibilities themselves. Email: news_center@staff.hexun.com