ET Intelligence News (Nov 4) - The U.S. is counting votes in the midterm elections, with Democrats currently leading Republicans in both the Senate and House. The three major U.S. stock index futures are now lower. The Philadelphia Semiconductor Index halted its decline and rebounded sharply, causing Hong Kong markets to pull back. The Hang Seng Index opened at 23451, down 74 points or 0.3%, with main board turnover of HK$2.592 billion. The Hang Seng China Enterprises Index stood at 7915, down 27 points or 0.4%. The Hang Seng Tech Index was at 3848, down 19 points or 0.5%.
AMD reported third-quarter revenue rising 45% year-on-year to $13.38 billion, beating expectations. Data center revenue nearly doubled, and the company's quarterly guidance was strong, helping the Philadelphia Semiconductor Index rebound strongly overnight, rising 2.63%. AI hardware stocks opened higher: Lenovo Group (00992) gained 1.68% to HK$19.99, SMIC (00981) rose 0.47% to HK$42.82, Hua Hong Semiconductor (01347) fell 0.25% to HK$59.2, Kingboard CCL (01888) advanced 1.29% to HK$33, and Yangtze Optical Fiber & Cable (06869) climbed 1.49% to HK$102.
Biotech stocks led gains: WuXi Biologics (02269) rose 2.18% to HK$44, BeiGene (06160) gained 2.09% to HK$214.6, Hansoh Pharmaceutical (03692) advanced 1.75% to HK$32.5, WuXi AppTec (02359) rose 1.7% to HK$179, while Sinopharm (01099) fell 3.05% to HK$16.22.
Tech and internet stocks moved mixed: Alibaba (09988) dropped 0.9% to HK$98.65, Tencent (00700) rose 0.15% to HK$397.8, Baidu (09888) gained 0.8% to HK$75.3, Meituan (03690) fell 1.01% to HK$73.6, Kuaishou (01024) declined 1.02% to HK$27.24, and Xiaomi (01810) dropped 1.75% to HK$28.1. (ey)
AMD reported third-quarter revenue rising 45% year-on-year to $13.38 billion, beating expectations. Data center revenue nearly doubled, and the company's quarterly guidance was strong, helping the Philadelphia Semiconductor Index rebound strongly overnight, rising 2.63%. AI hardware stocks opened higher: Lenovo Group (00992) gained 1.68% to HK$19.99, SMIC (00981) rose 0.47% to HK$42.82, Hua Hong Semiconductor (01347) fell 0.25% to HK$59.2, Kingboard CCL (01888) advanced 1.29% to HK$33, and Yangtze Optical Fiber & Cable (06869) climbed 1.49% to HK$102.
Biotech stocks led gains: WuXi Biologics (02269) rose 2.18% to HK$44, BeiGene (06160) gained 2.09% to HK$214.6, Hansoh Pharmaceutical (03692) advanced 1.75% to HK$32.5, WuXi AppTec (02359) rose 1.7% to HK$179, while Sinopharm (01099) fell 3.05% to HK$16.22.
Tech and internet stocks moved mixed: Alibaba (09988) dropped 0.9% to HK$98.65, Tencent (00700) rose 0.15% to HK$397.8, Baidu (09888) gained 0.8% to HK$75.3, Meituan (03690) fell 1.01% to HK$73.6, Kuaishou (01024) declined 1.02% to HK$27.24, and Xiaomi (01810) dropped 1.75% to HK$28.1. (ey)
