ET Net News Agency, 27th - Anthropic, the US-based AI large model company, has officially filed for an IPO and is expected to launch its public offering in mid-November. The news boosted Hong Kong's AI-related sectors, driving the Hang Seng Index (HSI) to open higher this morning. However, with mainland Chinese equities showing weak gains and the Shanghai Composite Index retreating, the HSI turned lower, briefly falling over 100 points before narrowing losses near noon. The HSI closed the morning session at 23,180, down 31 points or 0.1%, with main board turnover nearing HK$88.7 billion. The Hang Seng China Enterprises Index stood at 7,774, down 27 points or 0.4%. The Hang Seng Tech Index was at 3,827, down 29 points or 0.8%.
Following Anthropic's IPO filing, AI-related stocks performed strongly. Lenovo Group (00992) rose 5.8% to HK$23.00, marking the largest gain among blue chips. Jingchip Laminate (01888) gained 5.4% to HK$37.94; Yangtze Optical Fibre & Cable (06869) advanced 4.9% to HK$107.30; SMIC (00981) rose 1.2% to HK$46.48; Hua Hong Semiconductor (01347) climbed 2.9% to HK$66.10. Large model developer Zhipu AI (02513) surged 9.4% to HK$553.00; MiniMax (00100) gained 2% to HK$177.50.
WuXi AppTec (02359) reported a net profit of RMB 8.08 billion in the third quarter alone, up approximately 1.3 times year-on-year. However, despite a strong opening, the stock reversed course and ended the morning session down slightly by less than 0.1% at HK$188.20.
A report indicated that from October 1 to 23, the daily average sales of new homes across 50 key cities in mainland China declined 28.7% year-on-year and 24.3% month-on-month, with inventory digestion period remaining high at 20.5 months. Property developers declined collectively: Longfor (00960) fell 4.9% to HK$4.715; China Overseas (00688) dropped 2.3% to HK$12.36; Runmei (01109) declined 2.3% to HK$29.60.
ZTE Corporation (00763) reported a more than 3.9-fold year-on-year increase in net profit to over RMB 1.3 billion in the third quarter. ZTE rose 5.7% in morning trade to HK$20.18.
Xiaomi (01810) launched five new products including the K100 at its REDMI launch event tonight. The stock declined 4.2% to HK$25.78.
Li-Ning announced that retail sales across its sales points (excluding Li-Ning YOUNG) in the third quarter recorded a low single-digit year-on-year decline. However, the group announced consideration and approval of a special dividend to shareholders. Li-Ning rose 5.5% to HK$13.54.
The three most actively traded HSI constituents were Tencent (00700), Xiaomi, and Alibaba (09988). Tencent was quoted at HK$387.60, up HK$1.20 or 0.3%, with turnover of HK$2.892 billion; Xiaomi had turnover of HK$1.824 billion; Alibaba was at HK$97.75, down HK$0.20 or 0.2%, with turnover of HK$1.442 billion. (vs)
Following Anthropic's IPO filing, AI-related stocks performed strongly. Lenovo Group (00992) rose 5.8% to HK$23.00, marking the largest gain among blue chips. Jingchip Laminate (01888) gained 5.4% to HK$37.94; Yangtze Optical Fibre & Cable (06869) advanced 4.9% to HK$107.30; SMIC (00981) rose 1.2% to HK$46.48; Hua Hong Semiconductor (01347) climbed 2.9% to HK$66.10. Large model developer Zhipu AI (02513) surged 9.4% to HK$553.00; MiniMax (00100) gained 2% to HK$177.50.
WuXi AppTec (02359) reported a net profit of RMB 8.08 billion in the third quarter alone, up approximately 1.3 times year-on-year. However, despite a strong opening, the stock reversed course and ended the morning session down slightly by less than 0.1% at HK$188.20.
A report indicated that from October 1 to 23, the daily average sales of new homes across 50 key cities in mainland China declined 28.7% year-on-year and 24.3% month-on-month, with inventory digestion period remaining high at 20.5 months. Property developers declined collectively: Longfor (00960) fell 4.9% to HK$4.715; China Overseas (00688) dropped 2.3% to HK$12.36; Runmei (01109) declined 2.3% to HK$29.60.
ZTE Corporation (00763) reported a more than 3.9-fold year-on-year increase in net profit to over RMB 1.3 billion in the third quarter. ZTE rose 5.7% in morning trade to HK$20.18.
Xiaomi (01810) launched five new products including the K100 at its REDMI launch event tonight. The stock declined 4.2% to HK$25.78.
Li-Ning announced that retail sales across its sales points (excluding Li-Ning YOUNG) in the third quarter recorded a low single-digit year-on-year decline. However, the group announced consideration and approval of a special dividend to shareholders. Li-Ning rose 5.5% to HK$13.54.
The three most actively traded HSI constituents were Tencent (00700), Xiaomi, and Alibaba (09988). Tencent was quoted at HK$387.60, up HK$1.20 or 0.3%, with turnover of HK$2.892 billion; Xiaomi had turnover of HK$1.824 billion; Alibaba was at HK$97.75, down HK$0.20 or 0.2%, with turnover of HK$1.442 billion. (vs)
