E Fund Asia Semiconductor ETF (03486) surged more than 10% in trading on Wednesday, with the latest figures showing a 9.71% gain to 18.98 Hong Kong dollars and turnover reaching 16.9 million Hong Kong dollars.

The rally comes after a major rebound overnight on Wall Street, where leading chip and technology stocks surged, triggering a powerful recovery across the Asia-Pacific AI supply chain. Samsung Electronics and SK Hynix both posted sharp gains, helping lift South Korea's stock market to its largest single-day advance on record.

Strong quarterly results from tech giants Microsoft and Amazon provided a key catalyst, with multiple core metrics beating market expectations. Revenue growth from their cloud computing and AI-related businesses was particularly robust, quickly reversing earlier investor concerns about the outlook for artificial intelligence capital expenditure. This renewed market confidence in the long-term value of the AI theme.

E Fund Asia Semiconductor ETF spans the full semiconductor value chain, including chip design, wafer fabrication, equipment, and materials, directly linking it to the cyclical performance of the computing industry. The fund's portfolio includes major holdings such as SK Hynix, Taiwan Semiconductor Manufacturing Co (TSMC), Semiconductor Manufacturing International Corp (SMIC), Tokyo Electron, and ASMPT.

Given its high concentration in the semiconductor sector, the ETF is positioned to exhibit stronger offensive characteristics during sector sentiment recoveries or oversold bounces, allowing it to capture more pronounced upside moves.