**Market Overview** On Christmas Eve, Hong Kong stocks traded for only half a day, closing up 0.17% amid cautious sentiment ahead of the holiday break. Meanwhile, A-shares remained resilient. The U.S. released positive economic data, with Q3 GDP growth revised up to 4.3%, exceeding expectations—the fastest pace since Q3 2023—driven by strong consumer spending and export recovery. The White House announced plans to impose tariffs on Chinese semiconductor imports by June 2027, citing Beijing’s "unreasonable" dominance in the chip sector.
**Semiconductor Sector Surge** SMIC (00981) raised prices for its 8-inch BCD process by ~10%, citing strong demand for AI server power chips. VIS also hiked BCD platform prices similarly. TSMC’s plan to consolidate 8-inch capacity and shut some lines by 2027 further fueled expectations of price increases. SMIC gained over 3%. Memory chip suppliers Samsung and SK Hynix raised HBM3E prices by ~20% for 2025, driven by orders from NVIDIA, Google, and Amazon.
**AI and Tech Highlights** CIG (06166), focusing on 800G liquid-cooled optical modules for AI data centers, rose over 5%. Fiber-optic player YOFC (06869) and PCB maker Kingboard (00148) both climbed over 3%.
**Nickel Resources Rally** Indonesia’s 2026 nickel output target was slashed to 250M tons (vs. 379M in 2025), boosting prices. Stocks like Lygend (02245), CNGR (02579), and Xinxin Mining (03833) surged nearly 9%.
**Dairy Sector Rebound** Domestic dairy processors expanded capacity as EU anti-dumping tariffs and lower milk prices favored local producers. Youran Dairy (09858) and Modern Dairy (01117) rose ~7%.
**Robotics and Automation** Zhejiang Shibao (01057) gained over 3%, while its A-share counterpart hit the limit-up. Dobot (02432) launched its AI-powered Rover X1 robot, priced at 7,499 yuan. Robosense (02498) showcased a robot performing complex tasks using vision and dexterous arm control, rising 2%.
**IPO and Market Moves** Biocytogen-B (02315) surged 22% after being added to the Stock Connect, with heavy southbound inflows exploiting its A/H share price gap.
**Currency and Paper Sector** The offshore CNY hit 7.0129/USD, a high since October 2024, benefiting paper firms like Nine Dragons (02689) and Lee & Man (02314) via lower import costs.
**Stock Spotlight: Tiangong Int’l (00826)** The company’s eight new high-end materials passed technical appraisal, reinforcing its global leadership in tool steel and high-speed steel. Its titanium alloy segment is poised to capitalize on consumer electronics and robotics demand, with breakthroughs in high-nitrogen steel for planetary roller screws. Q3 2025 revenue reached 447M yuan (adj. profit: 65M yuan).
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