Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
HK Stocks Swing Higher; AI Stocks Sought After, ManycoreTech (00068.HK) Surges 1x
Recommend 7 Positive 7 Negative 3 |
||||
|
||||
|
The market is monitoring progress in US-Iran war negotiations, with Hong Kong stocks fluctuating higher today (20th). Hopes for potential progress in US-Iran talks lifted US equities last Friday (17th), with the DJIA and Nasdaq rising 1.8% and 1.5%, respectively. At the time of writing, the US 2-year Treasury yield climbed to 3.741%, while the 10-year Treasury yield rose to 4.272%. The US Dollar Index fell to 98.29. DJIA futures were last down 359 points or 0.72%, and Nasdaq futures slipped 179 points or 0.67%. The Shanghai Composite Index closed up 30 points or 0.76% at 4,082, while the Shenzhen Component Index gained 0.55% to 14,966, hitting a more than four-year high. The ChiNext Index edged down 0.02% to 3,677. Total turnover on the Shanghai and Shenzhen markets reached nearly RMB2.56 trillion. The HSI opened up 44 points and extended gains, once rising 251 points to a peak of 26,411. It closed up 200 points or 0.8% at 26,361. The HSCEI gained 54 points or 0.6% to 8,899, while the HSTECH rose 22 points or 0.46% to 5,065. Total market turnover for the day amounted to HKD241.463 billion. Northbound trading turnover totaled HKD100.18 billion, while southbound funds recorded a net outflow of HKD3.909 billion today (vs a net inflow of HKD17.01 billion in the previous trading day). Kingboard Laminates (01888.HK) once rose 3.3% and closed up 0.3% at HKD28.34. ManycoreTech Surges 1x; AI Stocks in Demand Recent IPOs were sought after. ManycoreTech (00068.HK), one of the "Hangzhou Six Dragons," surged 1.01x to close at HKD37.44, with turnover of HKD3.976 billion. AI-related stocks were actively traded. Zhipu (02513.HK) and MiniMax (00100.HK) rose 9.4% and 6.1%, respectively. Insilico Medicine (03696.HK) and ModelBest (06682.HK) gained 14.1% and 12.5%, while Unisound (09678.HK) climbed 9.5%. TENCENT (00700.HK) rose 2.4%, while BIDU (09888.HK), NTES (09999.HK) and KUAISHOU (01024.HK) advanced between 0.7% and 1.1%. US technology website The Information, citing multiple sources, reported that DeepSeek has recently begun engaging with investors for its first round of external fundraising, targeting at least USD300 million at a minimum valuation of USD10 billion. 1,100 Stocks Decline; Solar Stocks Advance Market breadth improved today. The ratio of advancers to decliners on the Main Board was 28 to 22 (previous day: 19 to 31), with 1,167 stocks rising (up 2.8%). Among HSI constituents, 61 stocks rose and 28 fell, with an advancers-to-decliners ratio of 68 to 31 (previous day: 18 to 80). Short selling amounted to HKD40.03 billion, accounting for 19.697% of the HKD203.235 billion turnover of securities eligible for short selling. Xinyi Solar (00968.HK) and GCL Tech (03800.HK) surged 6.2% and 4.1%, respectively, while flat glass producer Flat Glass Group (06865.HK) gained 7.9%. Xinte Energy (01799.HK) rose 8.4%, and wind power stock Goldwind (02208.HK) advanced 9.2%. The Ministry of Industry and Information Technology, the National Development and Reform Commission, the State Administration for Market Regulation and the National Energy Administration jointly convened a symposium on the photovoltaic industry last Friday (17th). In deploying measures to regulate competitive order in the PV sector, authorities stressed the importance and urgency of addressing "involution-style" competition and advancing anti-involution efforts. The meeting called for enhanced inter-departmental coordination to deepen governance of the PV industry, promote capacity control, standard-setting, innovation-driven development, price enforcement, quality supervision, mergers and acquisitions, and intellectual property protection, in a bid to drive high-quality development of the photovoltaic industry. (wl/da) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
||||
Copied to Clipboard
 |
||||
