ETN News, April 15 - Zhipu (02513) is down 8.7%, trading at HK$522.5, with approximately 1.69 million shares traded, involving HK$897 million, hitting a daily low of HK$517; MiniMax (00100) is down 7.1%, trading at HK$189.8.
Barclays has recently lowered its target prices for the two major model stocks: Zhipu's target price was cut from HK$1,150 to HK$850, a 26% reduction; MiniMax's target price was reduced from HK$500 to HK$350, a decline as high as 30%.
U.S. cloud service-related stocks plunged sharply on Wednesday, with CoreWeave (US.CRWV) shares dropping as much as 17.2%, dragging CoreWeave's bond prices down rapidly to levels typically indicating financial distress, causing bond yields to surge accordingly.
Currently, the Hang Seng Index stands at 24,098, down 215 points or 0.9%, with main board turnover exceeding HK$47.6 billion. The Hang Seng China Enterprises Index is at 8,115, down 67 points or 0.8%. The Hang Seng Tech Index is at 4,086, down 88 points or 2.1%. (vs)
Barclays has recently lowered its target prices for the two major model stocks: Zhipu's target price was cut from HK$1,150 to HK$850, a 26% reduction; MiniMax's target price was reduced from HK$500 to HK$350, a decline as high as 30%.
U.S. cloud service-related stocks plunged sharply on Wednesday, with CoreWeave (US.CRWV) shares dropping as much as 17.2%, dragging CoreWeave's bond prices down rapidly to levels typically indicating financial distress, causing bond yields to surge accordingly.
Currently, the Hang Seng Index stands at 24,098, down 215 points or 0.9%, with main board turnover exceeding HK$47.6 billion. The Hang Seng China Enterprises Index is at 8,115, down 67 points or 0.8%. The Hang Seng Tech Index is at 4,086, down 88 points or 2.1%. (vs)
