Semiconductor ETFs draw over RMB 13B in three sessions

The scale of the inflows, concentrated in just three sessions and pushing several funds to record share counts, points to momentum-driven positioning rather than gradual allocation — a pattern that can amplify moves in both directions if the buying reverses. The parallel wave of new semiconductor-themed fund issuance matters because it expands the pipeline of capital that could follow, but also raises the question of whether product supply is outrunning durable demand. What's worth watching is whether inflows persist once the recent rise cools, and whether the new funds launching now attract fresh money or simply fragment existing flows.