🔴 Asia Semiconductor ETF (3119.HK) is trading 3.05% down after NVIDIA’s 4.57% decline on August 28

3119.HK is trading at HK$171.70 (-3.05%) after global semiconductor selling pressure followed NVIDIA’s 4.57% decline on August 28.

• Hawkish Federal Reserve messaging at Jackson Hole pressured high-growth technology valuations.
• China’s August manufacturing PMI remained contractionary at 49.8, limiting support for mainland chipmakers.
• The move appears sector-driven rather than ETF-specific, as broader Asian technology weakness and softer U.S. futures reinforced risk-off sentiment; semiconductor shares recently led regional selloffs amid questions over elevated AI valuations and spending.