Optical communication, PCB, and other AI hardware shares led the gains. As of press time, Yangtze Optical Fibre And Cable Joint Stock Limited Company (HKEX: 06869) rose 9.13% to HK$92.65; Cig Shanghai Co.,Ltd. (HKEX: 06166) rose 8.85% to HK$56.6; Suzhou Dongshan Precision Manufacturing Co.,Ltd. (HKEX: 02384) rose 7.84% to HK$87.35; Zhongji Innolight Co.,Ltd. (HKEX: 03308) rose 7.89% to HK$588; Hua Hong Grace Semiconductor Limited (HKEX: 01347) rose 6.26% to HK$76.35; and KB LAMINATES (HKEX: 01888) rose 6.59% to HK$29.42.
On the news front, U.S. tech stocks staged a rebound overnight, with the Philadelphia Semiconductor Index closing up 6.85%. The optical communication sector led the gains, with Coherent surging nearly 17%. From the perspective of external risks, rising expectations of easing U.S.-Iran tensions triggered a sharp drop in international oil prices, which in turn cooled inflation and cost concerns. At the same time, as the market's panic pricing of election results gradually returned to rationality, previously oversold AI hardware saw bargain-hunting buying.
Soochow Securities stated that it maintains a positive judgment on the AI industry trend and recommends focusing on sector repair opportunities in optical communication, PCB, and other directions. The firm observed positive signals: in the fourth quarter, the PCB sector is expected to benefit from batch deliveries of new platforms, with quarter-over-quarter performance likely to continue improving. Upstream passive components in optical communication remain tight in terms of pull-in demand, and optical module manufacturers are also expected to sustain strong performance. There may be a certain expectation gap between marginal catalysts on the industry side and current market expectations.
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