The Economic Times News Service reported on the 16th: Lenovo Group (00992) rose 2.9%, trading at HK$26.74. The stock traded around 16.48 million shares, involving HK$440 million, with a high of HK$27.12 and a low of HK$26.30; GDS Holdings (09698) gained 1.5%, trading at HK$24.90; Kingboard Laminates (01888) advanced 3.3%, trading at HK$39.56; Yangtze Optical Fibre and Cable (06869) rose 3.8%, trading at HK$127.30.

CoreWeave (US.CRWV), a next-generation cloud service provider, saw its stock drop as much as 9.5% to a low of USD 59.51 on Thursday, following a sharp decline on Wednesday. CoreWeave's 5-year credit default swap (CDS) pricing briefly hit 1194.5 basis points during Thursday's trading session, a record high reflecting the cost of protection against company debt default. Some of the company's bond yields rose above 15% to 16%, indicating a sharp increase in investor concerns about CoreWeave's debt repayment ability.

However, after NVIDIA (US.NVDA) CEO Jensen Huang stated that CoreWeave's strength is growing daily and its capital costs are actually decreasing, and that NVIDIA does not need to provide support to CoreWeave, the stock gradually recovered from its intraday lows, closing up 5.9% at USD 69.69.

Earlier, Barclays downgraded Dell Technologies (US.DELL), Hewlett Packard Enterprise (US.HPQ), and NetApp (US.NTAP), citing lagging progress in enterprise adoption of artificial intelligence (AI). This triggered a sharp drop in overnight data center-related stocks, with Lenovo plunging 14.5% yesterday.

Currently, the Hang Seng Index stands at 24,389, up 327 points or 1.4%, with main board turnover nearing HK$11.5 billion. The Hang Seng China Enterprises Index is at 8,209, up 106 points or 1.3%. The Hang Seng Tech Index is at 4,146, up 85 points or 2.1%.

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