Concept stocks in cloud computing continue to show an upward trend, with Oracle’s massive computing power orders shaking the market, and North American cloud vendors raising their capital expenditure budgets.
According to Zhitong Finance APP, the Hong Kong stock market’s Hang Seng Index rose by 1.53%, gaining 398 points to close at 26,484 points; the Hang Seng Tech Index increased by 2.18%, with morning trading volume totaling HKD 184.9 billion.
Pharmaceutical company Jiajie Ankang-B (02617) rose by over 55% again, with its stock price increasing more than eightfold in three months, pushing its total market capitalization past HKD 66 billion, following the approval of its Phase II trial for Engeptinib in breast cancer. Morning trading volume approached HKD 0.6 billion.
Cloud computing stocks continued their upward momentum, with Oracle’s substantial computing power orders shaking up the market, prompting North American cloud providers to increase their capital expenditure budgets. GDS Holdings-SW (09698) rose by 16%; Alibaba-W (09988) gained 5.93%.
Domestic property stocks rose during intraday trading as first-tier cities rolled out new real estate policies, with institutions stating that these new policies are expected to boost market demand. Yuanyang Group (03377) rose by 16%; Country Garden (02007) increased by 9.68%; China Jinmao (00817) gained 5.2%.
China Hongqiao (01378) rose over 6%, buoyed by persistent expectations of interest rate cuts, which are favorable for aluminum prices, while the company’s equity production capacity enhancement is expected to increase profits.
Tian Yue Advanced (02631) surged over 10% to reach a new high, with institutions optimistic about the application potential of silicon carbide materials in high-end computing chips.
Bilibili-W (09626) rose by 3%, with the beta testing of a new game scheduled for October, and institutions optimistic about the company’s growth potential supported by AI.
China Shipbuilding Defense (00317) rose over 5% again, as the tight supply-demand dynamics in the shipbuilding industry persist, with attention on the group’s progress in addressing competition within the industry.
Legend Holdings (06683) surged over 15% as its “Giant Dog,” co-developed with Yushu Technology, is set to make its debut this weekend.
Nocoda Technology (00519) soared more than 39% after signing a cooperation agreement with Alpha AI for low-altitude economic smart drones.
Geekplus-W (02590) increased by 5%, as the company deepens global cooperation, with institutions noting its significant potential for performance elasticity.
Chow Tai Fook (06168) rose over 5% to hit a new high, as international gold prices reached a new peak, with institutions stating that the rise in gold prices will positively drive jewelry companies’ profit margins.
Ark Health (06086) surged over 13% after reaching a strategic cooperation with Innovent Bio, jointly constructing a new service paradigm in the “AI + Weight Loss” field.
Navigant Pharmaceuticals Biotechnology (00399) fell over 19% as the agreement for the placement of 0.145 billion new shares became invalid.
