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<H Shrs>HSI Closes up 365 Pts; AI Infra, Handset Stocks in Hot Demand; XIAOMI-W Notches Fresh Record
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The HSI ended the day up 365 points or 1.9% at 20,066. The HSCEI rose 147 points or 2.1%, closing at 7,312. The HSTECH hiked 142 points or 3.1% to close at 4,657. The total market turnover for the day amounted to $159.808 billion. BANK OF CHINA (03988.HK) aims to provide special comprehensive financial support of no less than RMB1 trillion to help the development of the AI industry chain. SMIC (00981.HK) and HUA HONG SEMI (01347.HK) climbed 5.8% and 2.3%. In the telecom infrastructure sector, ZTE (00763.HK) and YOFC (06869.HK) surged 9% and 31.6%. XIAOMI-W (01810.HK) hit a new high of $36.85 with an increase of 6.8% and notched a new intraday high of $37.3 amid reports indicating that handset sales in China leaped 3-5 times compared to usual after the launch of the subsidy policy. Handset component stocks Q TECH (01478.HK) and SUNNY OPTICAL (02382.HK) also mushroomed 14.4% and 8%, while BYD ELECTRONIC (00285.HK) and AAC TECH (02018.HK) inclined 5.6% and 3.6%. E-commerce platform JD-SW (09618.HK) added 3.2%. Among other tech stocks, BABA-W (09988.HK), TENCENT (00700.HK), and BIDU-SW (09888.HK) grew 2.2-2.5%. NTES-S (09999.HK) and KUAISHOU-W (01024.HK) gained 1.1%. MEITUAN-W (03690.HK) edged down 0.7%. BILIBILI-W (09626.HK) swelled 3.2%. Additionally, KINGSOFT CLOUD (03896.HK) and KINGDEE INT'L (00268.HK) rocketed 10% and 9.2%. GDS-SW (09698.HK), SENSETIME-W (00020.HK), and CHINASOFT INT'L (00354.HK) soared 5.7-6.3%. JD HEALTH (06618.HK) jumped up by 4.4%. Chinese banks CM BANK (03968.HK) and ICBC (01398.HK) advanced 3.8% and 2.7%. Car stocks LI AUTO-W (02015.HK), XPENG-W (09868.HK), and GEELY AUTO (00175.HK) shot up over 2%. AAStocks Financial News |
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