On the afternoon of March 16, the ChiNext Index surged by more than 1%, with notable strength observed in the semiconductor and memory chip sectors. Among the standout performers, Hua Hong Semiconductor, boasting a market capitalization exceeding 200 billion yuan, witnessed its A-shares skyrocket by over 16% at one juncture, while its H-shares also climbed by more than 11%, thereby propelling the entire semiconductor sector upwards. The chip ETF experienced a significant afternoon rally, with gains at one point surpassing 2%. Analysts highlighted that while there has been a steady stream of positive rumors surrounding Hua Hong, the upcoming NVIDIA GTC 2026 conference could be the primary catalyst for the semiconductor sector's recent upswing. Furthermore, price increases implemented by wafer foundries such as UMC, Vanguard International Semiconductor, and Powerchip Semiconductor Manufacturing Corp. are also contributing factors to the sector's robust performance.