At midday, the Hong Kong stock market's Hang Seng Index declined by 1.35%, dropping 350 points to 25,612, while the Hang Seng Tech Index fell by 2.08%. Early session turnover reached HK$161.3 billion.
China Telecom (00728) bucked the trend, rising over 4% as the company officially launched a trial commercial Token package and announced plans for moderately ahead-of-schedule construction of a new generation of flexible AIDC.
Wu Yi Shi Jie (06651) surged more than 29%, with heightened market attention following Justin Sun's bet on physical AI. The company's 51Sim business is expected to see significant growth within the year.
Xun Ce (03317) gained over 3% as its "Token Factory" accelerates implementation, prompting a market re-evaluation of the company's valuation framework.
Shenghong Technology (02476) advanced more than 6% after being included in the Hong Kong Stock Connect list. The company is regarded as one of NVIDIA's most important PCB suppliers.
Hong Kong China Travel (00308) jumped 20% as it actively develops new cultural tourism projects, planning to establish a joint venture to develop the Heidu Mountain scenic area in Qinghai Province.
Changfei Optical Fiber & Cable (06869) rose over 4% with domestic optical fibers selling strongly globally. Analysts are optimistic about an accelerated release of the company's profit flexibility.
Lens Technology (06613) increased by 8.94%, attracting attention as Zhou Qunfei shared the stage with Elon Musk and Tim Cook. The company is expanding into emerging business areas.
New listing Yifei Technology (06871) debuted on the Hong Kong Stock Exchange, soaring over 81% in early trading. Its IPO was oversubscribed by 14,900 times, setting a historical record for Hong Kong stocks.
Man Wah Holdings (01999) fell further, declining over 4% after reporting a 12.13% year-on-year decrease in annual net profit. Institutions anticipate its profitability will remain under pressure in the short term.
Li Auto-W (02015) plunged more than 14% following the launch of its Li L9 Ultra and Livis models. Citigroup described the overall impact of the new models as neutral.
Property stocks across the board trended lower. April data showed a divergence between property market performance and credit figures, with analysts indicating the recovery process still requires observation.
C&D International Investment Group (01908) dropped 6.8%; Guangzhou R&F Properties (02777) declined 5.95%; China Overseas Land & Investment (00688) fell 4.78%.
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