Last Friday (16th), U.S. tech stocks plunged sharply. Tech stocks showed unusual movements ahead of earnings announcements, facing strong selling pressure across the board, with the VIX fear index spiking to 22 at one point. Although U.S. tech stocks rebounded somewhat during yesterday's Hong Kong market holiday, and several battered hardware stocks were upgraded by brokerages indicating they have reached target prices, Hong Kong stocks continued to decline upon resumption, with AI hardware stocks still being sold off.
Hua Hong (01347) fell 3.3%, to HK$72.5; Montage Technology (06809) dropped 1.1%, to HK$208.8; Cambridge Industries (06166) declined 2.6%, to HK$82; Kingboard Laminates (01888) fell 1.8%, to HK$38.78; Zhongji Intelligent (03308) dropped 2.3%, to HK$786.5.
Currently, the Hang Seng Index stands at 24,023, down 162 points or 0.7%, with main board turnover nearing HK$1.18 billion. The Hang Seng China Enterprises Index is at 8,097, down 31 points or 0.4%. The Hang Seng Tech Index is at 4,049, down 58 points or 1.4%.
| Stock (Code) | Current Price (HK$) | Change (%) |
|---|---|---|
| Lenovo Group (00992) | 25.94 | Down 7.56% |
| Hua Hong (01347) | 72.50 | Down 3.27% |
| SMIC (00981) | 51.40 | Down 1.91% |
| Montage Technology (06809) | 208.80 | Down 1.14% |
| Yangtze Optical Fibre (06869) | 124.10 | Up less than 0.1% |
| Cambridge Industries (06166) | 82.00 | Down 2.55% |
| Kingboard Laminates (01888) | 38.78 | Down 1.77% |
| Super Micro Computer (02476) | 154.50 | Up 2.25% |
| Zhongji Intelligent (03308) | 786.50 | Down 2.30% |
| Guanghe Technology (01989) | 82.00 | Down 1.56% |
