ET Intelligence (12th) - U.S. AI infrastructure company CoreWeave released its earnings and raised its full-year revenue forecast, expecting to achieve profitability by 2028. Coupled with rumors of AI startup Anthropic increasing its IPO valuation and strong revenue data from OpenAI, AI-related stocks surged overnight, driving a rebound in U.S. equities. However, Asian markets showed mixed performance this morning, with Japanese and South Korean stocks remaining stable. The Hang Seng Index opened at 24,121, down 194 points or 0.8%. Board turnover stood at HK$3.569 billion. The Hang Seng China Enterprises Index stood at 8,105, down 66 points or 0.8%. The Hang Seng Tech Index stood at 3,995, down 32 points or 0.8%.
Wall Street chip stocks broadly rebounded, driving Hong Kong's AI sector to rise against the trend. Lenovo Group (00992) rose 1.2% to HK$19.80; SMIC (00981) rose 0.7% to HK$49.32; Hua Hong (01347) rose 2.5% to HK$77.05; Kingboard Laminate (01888) fell 0.7% to HK$30.36; Yangtze Optical Fiber & Cable (06869) rose 0.2% to HK$102; GigaDevice (03986) rose 1.4% to HK$323; Montage Technology (06809) rose 0.5% to HK$196.5; TianShu ZhiXin (09903) rose 3.5% to HK$74.8; Bitmain Technologies (06082) rose 3.3% to HK$21.98.
Major tech and internet stocks declined: Alibaba (09988) fell 2.2% to HK$98.4; Tencent (00700) fell 1.4% to HK$404; Baidu (09888) fell 1.3% to HK$77.6.
Both spot and futures gold prices simultaneously fell below the US$4,000 per ounce mark. Zijin Mining (02899) dropped 1.9% to HK$28.4; Zhaojin Mining (01818) dropped 2.4% to HK$17.43; Shandong Gold (01787) dropped 2.5% to HK$18.4; Lingbao Gold (03330) dropped 2.3% to HK$17.19; Zijin Gold International (02259) dropped 2.8% to HK$137.1; Chifeng Gold (06693) dropped 0.8% to HK$33.7.
Newly listed Yiwai Technology (02065) opened at HK$13.62 this morning, 37.6% above its offering price of HK$9.9. Based on 500 shares per lot and excluding fees, each lot gained HK$1,860.
Newly listed Hongxin Yu (02681) made its debut today, opening at HK$72.8, slightly below its offering price of HK$72.83 by less than 0.1%. Based on 100 shares per lot and excluding fees, each lot incurred a loss of HK$3. (vs)
Wall Street chip stocks broadly rebounded, driving Hong Kong's AI sector to rise against the trend. Lenovo Group (00992) rose 1.2% to HK$19.80; SMIC (00981) rose 0.7% to HK$49.32; Hua Hong (01347) rose 2.5% to HK$77.05; Kingboard Laminate (01888) fell 0.7% to HK$30.36; Yangtze Optical Fiber & Cable (06869) rose 0.2% to HK$102; GigaDevice (03986) rose 1.4% to HK$323; Montage Technology (06809) rose 0.5% to HK$196.5; TianShu ZhiXin (09903) rose 3.5% to HK$74.8; Bitmain Technologies (06082) rose 3.3% to HK$21.98.
Major tech and internet stocks declined: Alibaba (09988) fell 2.2% to HK$98.4; Tencent (00700) fell 1.4% to HK$404; Baidu (09888) fell 1.3% to HK$77.6.
Both spot and futures gold prices simultaneously fell below the US$4,000 per ounce mark. Zijin Mining (02899) dropped 1.9% to HK$28.4; Zhaojin Mining (01818) dropped 2.4% to HK$17.43; Shandong Gold (01787) dropped 2.5% to HK$18.4; Lingbao Gold (03330) dropped 2.3% to HK$17.19; Zijin Gold International (02259) dropped 2.8% to HK$137.1; Chifeng Gold (06693) dropped 0.8% to HK$33.7.
Newly listed Yiwai Technology (02065) opened at HK$13.62 this morning, 37.6% above its offering price of HK$9.9. Based on 500 shares per lot and excluding fees, each lot gained HK$1,860.
Newly listed Hongxin Yu (02681) made its debut today, opening at HK$72.8, slightly below its offering price of HK$72.83 by less than 0.1%. Based on 100 shares per lot and excluding fees, each lot incurred a loss of HK$3. (vs)
