To The Moon

Hong Kong's Hang Seng Index advanced 560 points, or 2.38%, to reach 24,057 points by midday.

The Hang Seng Tech Index posted a stronger gain of 4.34%.

Morning session turnover on the Hong Kong exchange amounted to HK$1.884 trillion.

Domestic semiconductor stocks experienced a broad rally ahead of the upcoming 2026 World Artificial Intelligence Conference.

Huahong Grace (01347) surged over 8%, while SMIC (00981) climbed 7.5%.

CFMEE (09630) jumped more than 14% and Xizhi Tech-P (01879) gained 9.6%.

Biren Tech (06082) rose over 7% following the company's announcement of a RMB 7 billion fundraising round to accelerate the commercialization and production of its next-generation GPGPU.

Shanghai Fudan (01385) gained more than 7% on a positive profit alert, forecasting its first-half net profit attributable to shareholders to increase by approximately 313.19% to 416.49% year-on-year.

Knowledge Atlas (02513) soared 17%, drawing investor attention due to cornerstone shareholders' long-term holding commitments and J.P. Morgan's upward revision of its price target.

Domestic bank stocks were among the leading gainers, supported by over RMB 90 billion in dividend payouts from 10 banks this week and positive institutional sentiment towards the sector's third-quarter performance.

Bank of China (03988) increased 3.5%, and CCB (00939) advanced 3.9%.

Kuaishou-W (01024) rose over 6% as the successful financing for its Kling AI model is seen potentially unlocking valuation upside through independent pricing of its AI assets.

Shandong Molong (00568) surged 14% amid renewed tensions between the US and Iran and the reinstatement of US sanctions on Iranian oil.

Huaqin (03296) jumped more than 11% after strong results from Inspur Information reinforced the robust outlook for the AI server industry.

H&H Intl Hldg (01112) continued its rise, gaining over 7% following its report of strong operational performance across all business segments and better-than-expected profit growth for the first half.

SBP Group (01177) climbed over 2% after its subsidiary entered into an exclusive licensing agreement with AstraZeneca for TQC3721.

Several stocks made their market debut.

BasicSemi (09971) opened for trading, gaining 13.2% in the morning session; the company ranks sixth in China's silicon carbide power module market.

Baogai (08090) also commenced trading, rising 0.64%; the company is a manufacturer of composite trench cover plates.

Eacon (07687) debuted with a 5% gain; the firm is a leader in China's unmanned mining vehicle sector.

Momenta-W (06880), referred to as the "first physical AI stock", began trading and was up 3.45% by midday.

In contrast, lithium mining stocks declined collectively due to lower lithium carbonate prices.

Tianqi Lithium (09696) fell 5.8% and GanfengLithium (01772) dropped 4.2%.