According to finance news on October 4th (Editor Fang Yi), today's Hong Kong stock market rebounded and rose again, but slightly different from the previous days, with semiconductor and other high-tech concepts becoming active and strong.

As of the time of writing, Hg Semi (06908.HK) rose by 230%, Solomon Systech (02878.HK) surged by over 80%, Shanghai Fudan (01385.HK), Semiconductor Manufacturing International Corporation (00981.HK), Hua Hong Semi (01347.HK) and many other stocks rose by over 20%.

On the news front, recently, US President Biden signed legislation to accelerate semiconductor chip manufacturing projects, sparking increased interest in the semiconductor sector.

It's worth noting that there are reports indicating that top foreign institutional investors have been continuously monitoring the A-share market recently and have shown strong interest in the semiconductor sector.

According to incomplete statistics, since the third quarter, well-known institutions including Temasek, Sequoia Capital, Blackrock, Goldman Sachs, Morgan Stanley, and others have frequently appeared in the research lists of multiple semiconductor companies.

Furthermore, recent data indicates that concerns about a global semiconductor cycle peak or delay previously in the market seems unwarranted, as industry fundamentals are still showing signs of recovery.

Over half a month ago, Morgan Stanley released a bearish report titled 'Winter is Coming', indicating that the global memory chip industry is facing a possible 'winter', with the dilemma of HBM oversupply likely to unfold soon.

However, according to data from the Ministry of Trade, Industry and Energy of South Korea, the country's export amount in September was $58.77 billion, a 7.5% increase compared to the same month last year, with semiconductor exports growing for 11 consecutive months, showing a 37.1% year-on-year increase in export volume.

As one of the major semiconductor exporting countries globally, South Korea's strong performance in chip exports also indicates that global semiconductor demand remains robust.

According to the Semiconductor Industry Association (SIA) of the United States, with the end of the cyclical market downturn and strong demand for semiconductors, global semiconductor sales in 2024 will exceed $600 billion.

The association believes that the semiconductor industry is currently in a favorable position for long-term growth, with continuous global innovation leading to increased demand synchronized with the semiconductor-based innovation foundation.

Analysts Zhang Xiaofei and Zhang Xing from Haitong Securities recently stated in a report that the semiconductor cycle is weakly recovering overall, with continued expansion in downstream storage and logic manufacturing. They recommend focusing on companies benefiting from advanced processes, advanced packaging, and continuous product iteration for growth momentum.

Considering the recent rally in Hong Kong stocks, sectors such as real estate and finance have surged continuously, while the semiconductor sector has temporarily lacked attention from investors. The emergence of rotational market trends in this sector is also worth noting.