The frenzy around Huawei Technologies Co.-linked shares has hauled them to the top of Asia’s key benchmark in an otherwise grueling month for equity markets.

Suppliers and partners to the Chinese tech giant make up a majority of the top 10 gainers this month on the MSCI Asia Pacific Index. Huawei’s electric-vehicle partner Seres Group Co. is leading gains with an advance of more than 48% while software supplier Isoftstone Information Technology Group Co. is up 29%. The benchmark has lost more than 4% in October, touching an 11-month low.

READ: Huawei Drives $34 Billion China Stock Boom in Rare Hot Trades

These retail-driven trades highlight optimism toward China’s mobile phone and semiconductor technologies, which have become rare bright spots in a sluggish market. The Israel-Hamas war has heightened geopolitical risks while a stronger dollar and bond yields at multi-year highs are hammering equities across the globe.

Here’s a list of the top gainers on the MSCI Asia gauge so far this month:

“Chinese consumers’ enthusiasm about Huawei’s new products made it the best target for those who are currently lacking other trading themes,” said Fanwei Zeng, investment analyst at GAM Investments. “We think investors are likely to lose interest when they find other hot topics” given that the suppliers’ relationships with Huawei haven’t yet translated to significant earnings growth, she added.