①All three major indices rose by more than 2%. What are the highlights of the market? ②The AI sector shows a differentiated trend. How do institutions view it?
Cailian Press, February 23 (Editor: Feng Yi) Sentiment in Hong Kong stocks rebounded today, with all three major indices posting significant gains. By the close, the Hang Seng Index was up 2.53% to 27,081.91 points; the Hang Seng Tech Index surged 3.34% to 5,385.35 points; and the Hang Seng China Enterprises Index rose 2.65% to 9,197.38 points.
In terms of trends, Hong Kong stocks had three trading sessions during the Spring Festival, with the Hang Seng Index cumulatively rising nearly 2%.
Today’s Market
From the perspective of market performance, gold and non-ferrous metals, lithium batteries, and computing hardware concepts led the gains today. Tourism, film, and paper stocks declined.
Strength in computing hardware direction as Changfei Fiber Optic surged over 14%.
By the close, Changfei Fiber Optic Cable (06869.HK) surged over 14%, Innoscience (02577.HK) gained more than 10%, and SMIC (00981.HK) rose about 5%.
On the news front, research from Bocom International indicated that both supply-side and demand-side data for AI infrastructure were stronger than previous market expectations, suggesting that AI infrastructure may further accelerate.
Geopolitical risks fueled gains in gold stocks, with Tongguan Gold surging over 12%.
By the close, Tongguan Gold (00340.HK), Chifeng Gold (06693.HK), and Zijin Gold International (02259.HK) rose 12.58%, 7.96%, and 6.82%, respectively.
On the news front, spot and futures prices of gold and silver soared, with gold prices surpassing $5,100 per ounce.
Galaxy Securities analysis indicates that concerns over the U.S. government’s debt pressure and increased volatility in asset prices due to changes in economic expectations may lead to a rise in investor risk aversion, benefiting gold. Additionally, the escalation of tensions between the U.S. and Iran is increasing geopolitical conflict risks, further supporting the rise in gold prices emotionally.
Energy storage lithium battery sector gains favor from institutions as Ruipu Lanjun surges 15%.
As of this report, today Ruipu Lanjun (00666.HK), CALB (03931.HK), and Zenergy New Energy (03677.HK) have risen by 15.42%, 7.35%, and 4.52%, respectively.
At the beginning of February and during the Spring Festival holiday, UBS Group consecutively released reports strongly favoring “China Lithium.” The reports noted that the gradual implementation of the electric vehicle ‘triple balance’ and the global surge in energy storage demand will drive sustained growth in lithium demand. It specifically highlighted Tianqi Lithium, Ganfeng Lithium, and China Salt Lake, three Chinese lithium companies, while raising forecasts for these enterprises.
Unusual stock price movements.
Zhipu issues an apology letter, shares fall nearly 23%.
Today, Zhipu fell by 22.76%. On the news front, on February 21, Zhipu issued an apology letter regarding the revamp of GLM Coding Plan and announced handling and compensation plans.
Intelligent driving concept welcomes speculative trading; Zhejiang Shibao rises nearly 20%.
Zhejiang Shibao (01057.HK) surged by 19.97% today. On February 18, Tesla announced that its first Cybercab had rolled off the production line at its Texas Gigafactory, marking the start of the Robotaxi moving into the real-world implementation phase. Orient Securities published a research report stating that Cybercab production growth will follow an S-curve, with long-term target production far exceeding the combined total of all other Tesla models. Supporting auto parts companies are expected to continue seeing incremental opportunities.
