The inclusion of GigaDevice and Montage Technology in the CSI Hang Seng Shanghai-Hong Kong Stock Connect AH Smart Index, while removing China Southern Airlines and China Railway Construction, indicates that the representativeness of AH stocks in the Shanghai-Hong Kong Stock Connect is shifting from traditional cyclical, infrastructure, and aviation sectors towards semiconductors and hard technologies, strengthening the "anchor" for semiconductor Hong Kong stock pricing. GigaDevice and Montage Technology are currently at the intersection of AI hardware, storage cycles, the Changxin Technology analogy, and the narrative of domestic computing power. Their inclusion in the index will amplify their representativeness as AH technology stocks, formally placing them in an index system centered on AH price differences, liquidity, and cross-border capital allocation.
