Hong Kong shares rose on Wednesday on renewed optimism about China’s tech trade prospects, whereas buyers awaited international AI chip chief Nvidia’s earnings.
The Cling Seng Index gained 0.3 per cent to 25,608.45 at 9.55am native time, rebounding from a 1.2 per cent loss within the earlier session. The Cling Seng Tech Index climbed 0.8 per cent. On the mainland, the CSI 300 Index rose 0.1 per cent and the Shanghai Composite Index slipped 0.1 per cent.
Xiaomi rose 2.1 per cent to HK$54.60 after Moody’s upgraded its score attributable to strong progress and profitability in its electrical automobile (EV) and IoT good {hardware} companies. EV maker Nio jumped 7.2 per cent to HK$53.10, whereas SMIC climbed 2.1 per cent to HK$57.40.
E-commerce big Alibaba Group Holding rose 0.7 per cent to HK$122.10, whereas Horizon Robotics, which makes AI chips for self-driving vehicles, added 1.3 per cent to HK$7.98 forward of its earnings report in a while Wednesday.
Chinese language AI chipmaker Cambricon Applied sciences posted a dramatic monetary turnaround, attaining a first-half web revenue of 1.03 billion yuan (US$144 million) in contrast with a loss within the earlier 12 months. Income surged round 44-fold from a 12 months earlier to 2.9 billion yuan, pushed by strong home demand for AI chips and authorities assist for home-grown expertise.
The corporate’s shares superior 3.8 per cent to 1,380.10 yuan. The Shanghai-listed inventory has greater than doubled this 12 months, reflecting elevated investor confidence in its progress trajectory and strategic positioning inside China’s AI ecosystem.