The Sci-Tech Innovation 50 index surged 4%, with nearly 2.5 billion yuan in funds accumulated for bottom-fishing over the past 20 trading days!

Ask AI · How will rising demand for AI chips boost the valuation of the STAR Market 50 (科创50)?

Affected by the “two-week ceasefire,” the A-share market opened higher and kept climbing in the morning session. The STAR Market 50 Index surged 4%, with all 50 constituent stocks closing higher. Among them, Cndbio Electronics, iNTELL Technology, Origin Semiconductors, and Gineity Electronics rose more than 6%.

From recent fund flows, over the past 20 trading days, capital has flowed into the 华夏 STAR Market 50 ETF (588000) by 2.45 billion yuan.

After nearly two months of deep adjustment, this index—focused on the 50 leading companies in the STAR Market— is now showing relatively high value-for-allocation.

1. The adjustment has been thorough, and risk has been released more completely

Since the end of January, the STAR Market 50 Index has been in a downward channel for seven consecutive weeks, falling from the high of 1575.45 points to around 1249.01 points. The maximum drawdown reached 20.72%, putting the adjustment magnitude near the top among major A-share indexes. At the same time, in terms of moving-average levels, the index has retreated to the 45-week moving average that supports the weekly uptrend since “924.” This kind of deep adjustment provides a good entry opportunity for funds on the sidelines.

2. Valuation has been digested, and the safety margin is gradually improving

Following this round of adjustment, the valuation level of the STAR Market 50 Index has gradually pulled back from its historical highs. According to data on earnings forecasts from 同花顺, the STAR Market 50 Index’s 2026 operating revenue is expected to grow 21.68% year over year. Compared with -1.28% in 2025, it turns from negative to positive. For attributable net profit, growth moves from 28.16% in 2025 to 98.27%. On the profit front, there has been a significant improvement. Given the high-growth attributes of its constituent stocks, the match between valuation and growth is improving.

3. A clear technology main theme, with industry trends providing support

Among the constituent stocks of the STAR Market 50 Index, semiconductor companies account for nearly 70%, which is a concentrated expression of the technology characteristics of A-shares. Recently, as domestic AI chip performance has leaped forward, and major domestic technology companies have kicked off bulk procurement, together with the rapid growth in AI inference demand, domestic AI chips and the semiconductor equipment and materials sector are expected to maintain high levels of market optimism. The continued expansion in chip demand is expected to support an upward revision in semiconductor-sector performance expectations, providing fundamental support for the semiconductor segment within the STAR Market 50 Index. As the window for releasing the Q1 reports approaches, the market’s validation of technology stocks’ earnings will determine the subsequent trend. And the current pullback is an important window for positioning in high-quality technology leaders.

Related ETFs:

华夏 STAR Market 50 ETF 588000

每日经济新闻