China Equity Strategy Korean investors positive on China

研报英文原文证据摘录

China Equity Strategy Korean investors positive on China

22 May 2026

Equity Research Report

China Equity Strategy EquityChina Strategy

Korean investors positive on China

◆ Most Korean investors are overweight China (MSCI EM) and Steven Sun*, CFA (Reg. No. S1700517110003)

HSTECH is a popular holding Head of Research, HSBC Qianhai Securities Limited HSBC Qianhai Securities Limited

stevensun@hsbcqh.com.cn

◆ Potential impact on the memory sector competition landscape +86 755 8898 3158

from CXMT and YMTC’s upcoming A-share listings is among Jeffrey Xie* (Reg. No. S1700523100002)

Analyst, China Equity Strategy Research

the most discussed HSBC Qianhai Securities Limited

jeffrey.p.xie@hsbcqh.com.cn

+86 10 5795 2361

◆ …as well as the AI exposure of various China tech indices

Neal Chen*, PhD (Reg. No. S1700524120001)

(STAR 50, ChiNext and HSTECH) and how this affects Analyst, China Equity Strategy Research

HSBC Qianhai Securities Limited

performance neal.m.chen@hsbcqh.com.cn

+86 21 5066 2066

Lydia Li*, CFA (Reg. No. S1700525040002)

We conducted a two-day China equity strategy marketing trip in Korea and met with Analyst, China Equity Strategy Research

10+ institutional investors, including sovereign wealth funds, local asset managers, HSBC Qianhai Securities Limited

lydia.j.y.li@hsbcqh.com.cn

and foreign institutional investors, and summarise our key feedback in this note. +86 21 5066 2022

What is the biggest surprise? The KOSPI has been the best performer globally

* Employed by a non-US affiliate of HSBC Securities (USA) Inc, and is

YTD and QTD, driven by the continuing validation of the AI theme and the strong not registered/ qualified pursuant to FINRA regulations

pricing momentum of DRAM, NAND and HBM. However, few Korean investors we