ET Net News Agency reported on the 5th: The outcome of the U.S. midterm elections has been decided, with the Democratic Party regaining majority seats in both the House of Representatives and the Senate. The market anticipates that President Trump will find it difficult to take aggressive actions under congressional checks and balances, driving all three major U.S. stock indices higher, especially the Dow Jones Industrial Average, which surged 1,569 points or 3%. The Hong Kong market opened with a gap-up rise of nearly 400 points, breaking above the 24,000 level. During the session, most sectors rallied collectively except for AI infrastructure concepts. Notably, heavyweight tech and internet stocks Alibaba (09988) and Tencent (00700) each contributed over 100 points to the Hang Seng Index's rise, helping it reclaim the 50-day moving average (around 24,431) and the 100-day moving average (around 24,591), returning to late-September index levels. The index closed the morning session at 24,659, up 739 points or 3.1%. The Hang Seng China Enterprises Index stood at 8,302, up 245 points or 3%. The Hang Seng Tech Index reached 4,124, up 188 points or 4.8%. Market sentiment was strong, with morning session turnover on the main board approaching 200 billion yuan, although northbound funds took the opportunity to exit, with net outflows currently near 5 billion yuan.
Heavyweight tech and internet stocks attracted strong capital inflows. Alibaba surged 7.46% to 108.10 yuan, extending its winning streak to five consecutive days with a cumulative gain of 12.49%. Tencent rose 5.53% to 423.80 yuan, also extending its five-day winning streak with a cumulative gain of 12.24%. Meituan (03690) climbed 8.05% to 81.25 yuan, NetEase (09999) gained 7.7% to 197.10 yuan, Xiaomi (01810) soared 7.09% to 30.80 yuan, JD.com (09618) advanced 5.45% to 112.30 yuan, and Baidu (09888) rose 4.9% to 80.30 yuan.
With expectations for greater stability in global geopolitical factors under Democratic checks and balances, HSBC (00005) closed the morning session up 4.04% at 141.10 yuan, Standard Chartered (02888) rose 3.74% to 227.60 yuan, AIA (01299) gained 2.86% to 79.15 yuan, and Bank of China Hong Kong (02388) advanced 2.06% to 49.50 yuan.
The Democratic Party won several gubernatorial elections, and multiple candidates previously opposed the expansion of large-scale AI data centers as a core campaign issue. Approximately half of the proposed AI data center projects across the U.S. may face stricter local scrutiny and delays, triggering market concerns over cooling investment and tighter approvals for AI infrastructure. As AI infrastructure demand cools, Lenovo Group (00992) plunged 7.58% to 19.26 yuan, KBM Group (01888) tumbled 10.18% to 33.52 yuan, Yangtze Optical Fibre and Cable (06869) dropped 9.11% to 99.80 yuan, while SMIC (00981) rose 1.59% to 47.18 yuan.
Oil prices declined. PetroChina (00857) fell 3.33% to 10.45 yuan, CNOOC (00883) dropped 2.94% to 23.08 yuan, Sinopec (00386) declined 0.51% to 4.83 yuan, leading domestic diesel firm Weichai Power (02338) plunged 5.36% to 23.64 yuan, and shipping stock Orient Overseas (00316) fell 4.02% to 155.30 yuan.
Laopu Gold (06181) rose 8.46% to 305 yuan, and Li Auto (02015) gained 8.26% to 47.20 yuan.
The top three most actively traded stocks in the Hang Seng Index, China Enterprises Index, and Tech Index were Tencent, Alibaba, and Xiaomi, respectively. (ey)
Heavyweight tech and internet stocks attracted strong capital inflows. Alibaba surged 7.46% to 108.10 yuan, extending its winning streak to five consecutive days with a cumulative gain of 12.49%. Tencent rose 5.53% to 423.80 yuan, also extending its five-day winning streak with a cumulative gain of 12.24%. Meituan (03690) climbed 8.05% to 81.25 yuan, NetEase (09999) gained 7.7% to 197.10 yuan, Xiaomi (01810) soared 7.09% to 30.80 yuan, JD.com (09618) advanced 5.45% to 112.30 yuan, and Baidu (09888) rose 4.9% to 80.30 yuan.
With expectations for greater stability in global geopolitical factors under Democratic checks and balances, HSBC (00005) closed the morning session up 4.04% at 141.10 yuan, Standard Chartered (02888) rose 3.74% to 227.60 yuan, AIA (01299) gained 2.86% to 79.15 yuan, and Bank of China Hong Kong (02388) advanced 2.06% to 49.50 yuan.
The Democratic Party won several gubernatorial elections, and multiple candidates previously opposed the expansion of large-scale AI data centers as a core campaign issue. Approximately half of the proposed AI data center projects across the U.S. may face stricter local scrutiny and delays, triggering market concerns over cooling investment and tighter approvals for AI infrastructure. As AI infrastructure demand cools, Lenovo Group (00992) plunged 7.58% to 19.26 yuan, KBM Group (01888) tumbled 10.18% to 33.52 yuan, Yangtze Optical Fibre and Cable (06869) dropped 9.11% to 99.80 yuan, while SMIC (00981) rose 1.59% to 47.18 yuan.
Oil prices declined. PetroChina (00857) fell 3.33% to 10.45 yuan, CNOOC (00883) dropped 2.94% to 23.08 yuan, Sinopec (00386) declined 0.51% to 4.83 yuan, leading domestic diesel firm Weichai Power (02338) plunged 5.36% to 23.64 yuan, and shipping stock Orient Overseas (00316) fell 4.02% to 155.30 yuan.
Laopu Gold (06181) rose 8.46% to 305 yuan, and Li Auto (02015) gained 8.26% to 47.20 yuan.
The top three most actively traded stocks in the Hang Seng Index, China Enterprises Index, and Tech Index were Tencent, Alibaba, and Xiaomi, respectively. (ey)
