Technological trends have a profound impact on Taiwan stock trends. Data source: Taiwan Stock Exchange, public market data; data as of 2026/10/30. (Provided by HSBC Investment Bank)
[Reporter Wu Xintian/Reporting from Taipei] HSBC Investment Trust today responded to the "Taiwan Week" series of activities and held an investment lecture on "Winning the Battle for Taiwan Stocks: Using Active ETFs to Master the Main Upgrade Stage of Taiwan Stock Growth", inviting Wei Yinru, Chief Investment Officer of HSBC Investment Trust, and Zhang Ya, Vice President of HSBC Investment Research Department. Wen, as well as financial experts such as Tongyu, discussed that as the long-term theme of AI continues to drive the growth momentum of Taiwanese stocks, active ETF products can help diversify risks and flexibly adjust stock selection according to industry trends, and are expected to become investment tools that can increase the diversity of layouts in the market.
Wei Yinru, Chief Investment Officer of HSBC Investment Trust, said that from the perspective of industry fundamentals, global demand for AI computing continues to increase. According to market research data, capital expenditures by major U.S. cloud players are expected to increase by 77% annually in 2026, and there is still 33% room for growth in 2027, reflecting the trend of technology companies continuing to invest in data centers and AI infrastructure. Relying on its complete technology industry cluster and supply chain competitive advantages, Taiwan continues to play a key role in the global AI supply chain and industry development. Taiwan's major technology companies have also simultaneously increased their capital expenditures to accelerate development.
Wei Yinru believes that as AI server performance continues to improve, in addition to advanced process chips, fields such as advanced packaging, high-end testing, printed circuit boards (PCBs), power management, and high-speed transmission will also continue to benefit from equipment specification upgrades and demand growth. In addition, AI data center power consumption continues to increase, making power infrastructure, energy management, and cooling technology an important part of industry development. The demand for high-speed data transmission has simultaneously driven the upgrade of optical communication technology, showing that AI growth opportunities are continuing to spread from the semiconductor core to peripheral industries.
Zhang Yawen, vice president of the investment research department of HSBC Investment Bank, said that affected by the correction of U.S. technology stocks, Taiwan stocks fell by 2,729 points in October, a drop of nearly 5.7%, showing that the international market's doubts about AI capital expenditures and corporate valuations have been reflected in short-term stock price fluctuations. However, stock price corrections and changes in industry demand must still be observed separately. Judging from the supply chain status and corporate profit performance of Taiwan's technology industry, AI is still an important driving force supporting mid- to long-term growth.
Zhang Yawen pointed out that looking forward to 2027, global AI demand will continue to expand, and the competitive advantages of Taiwanese companies in the fields of advanced manufacturing processes, packaging and testing, and key components are expected to continue the growth opportunities of related industries. However, as the market's expectations for corporate profits increase, the technical advantages, order visibility and profitability of individual companies will become important basis for evaluating their long-term growth potential. Facing the international political and economic situation and financial market fluctuations, accurately targeting industries and companies with competitive advantages, and gaining insight into industry trends and transformation opportunities will become an important strategy for the layout of Taiwan stocks.
Financial experts believe that investment tools need to keep pace with the times. Taiwan has a deep division of labor advantage in the global technology industry chain, and most of its explosive key components and emerging technology targets belong to small and medium-sized enterprises. Active ETFs have the characteristics of active professional management and can be dynamically adjusted according to market conditions and industry trends. They can be used as a tool to increase the diversity of investment layouts. Investors can examine active ETFs from three perspectives: management team, stock selection style, and offensive and defensive performance.
