According to a financial document provided to investors, OpenAI's annualized revenue as of the end of September was only close to US$5 billion, nearly 30% lower than the previously rumored US$7 billion estimate, prompting the market to reassess the revenue growth and profitability of AI companies. Overnight, the risk premium on AI stocks in the US market sharply declined, with the Philadelphia Semiconductor Index plunging over 3%. The market believes this helps reduce the risk of a bubble burst. Additionally, solid demand at the US 30-year Treasury auction drove long-term bond yields lower, with the US 10-year Treasury yield dropping from an intraday high of 5.35% to 5.22%, a decline of about 13 basis points.
Hong Kong financial stocks rose collectively this morning; Standard Chartered (02888) gained 1.3% to HK$220.80; Bank of China (Hong Kong) (02388) rose 2.1% to HK$49.52; HKEX (00388) advanced 0.9% to HK$378.20; AIA (01299) climbed 1.7% to HK$70.45; CCB (00939) increased 0.8% to HK$9.745; ICBC (01398) rose 1.1% to HK$7.47.
Currently, the Hang Seng Index stands at 23,963, up 177 points or 0.7%, with turnover on the main board reaching nearly HK$23.6 billion. The Hang Seng China Enterprises Index is at 8,057, up 47 points or 0.6%. The Hang Seng Tech Index is at 4,103, up 30 points or 0.7%.
| Stock (Code) | Current Price (HK$) | Change (%) |
|---|---|---|
| HSBC (00005) | 144.80 | Up 1.54% |
| Standard Chartered (02888) | 220.80 | Up 1.28% |
| Bank of China (Hong Kong) (02388) | 49.52 | Up 2.15% |
| HKEX (00388) | 378.20 | Up 0.85% |
| AIA (01299) | 70.45 | Up 1.73% |
| CCB (00939) | 9.745 | Up 0.83% |
| ICBC (01398) | 7.47 | Up 1.11% |
| BOC (03988) | 6.105 | Up 1.24% |
| ABC (01288) | 6.475 | Up 0.57% |
