HSI Starts New Year Up 86 Points; BIREN TECH Launches at 82% Premium Over Listing Price
Hong Kong Stock Market Opening: Hong Kong stocks opened positively on the first trading day of the year, with the HSI up 0.3% at 25,717, the HSCEI up 0.4% at 8,949, and the HSTECH up 0.6% at 5,547.
BIREN TECH Debut: Domestic GPU maker BIREN TECH made a strong debut, opening at $35.7, which is 82% above its IPO price of $19.6, reflecting a significant increase of nearly 102%.
Other Tech Stocks Performance: Major tech companies like TENCENT and BABA-W saw slight increases of around 1.6% and 1.9%, respectively, while KUAISHOU-W experienced a minor decline of 0.2%.
Short Selling Activity: Notable short selling activity was reported, with HUA HONG SEMI and SMIC showing significant short selling ratios of 9.017% and 4.617%, respectively, indicating investor caution in the market.
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China Grants Conditional Approval for DeepSeek, ByteDance, Alibaba, and Tencent to Acquire H200 Chips: Report
China Approves Nvidia Chip Purchases: China has approved DeepSeek to purchase Nvidia's H200 AI chips, although regulatory conditions are still pending finalization.
Other Companies Involved: ByteDance, Alibaba, and Tencent have also been allowed to purchase over 400,000 H200 chips, with short selling data indicating significant market activity.
Nvidia's CEO Comments: Nvidia CEO Jensen Huang has not received confirmation regarding the approvals and believes that licensing issues will eventually be resolved.
Regulatory Oversight: The approvals from China's Ministry of Industry and Information Technology and the Ministry of Commerce will come with conditions determined by the National Development and Reform Commission.
<Full-day Summary> HSI Falls 580 Points; HSTI Declines 122 Points; CCB and XIAOMI Drop Over 3%; NEW ORIENTAL, SHK PPT, HUABAO INTL, ZOOMLION, and HANG LUNG GROUP Reach New Peaks; Market Turnover Increases
Market Performance: The Hang Seng Index (HSI) fell by 580 points (2.1%) to 27,387, with significant declines in other indices, including HSTI and HSCEI, and a market turnover of $301.61 billion.
Active Heavyweights: Major stocks like CCB, Xiaomi, Tencent, and Alibaba experienced notable declines, with short selling ratios indicating increased market activity against these stocks.
Significant Declines: CSPC Pharma, Chinahongqiao, and Zijin Mining saw substantial drops of over 9%, reflecting a broader trend of falling stock prices among HSI and HSCEI constituents.
Gainers and New Highs: New Oriental and Huabao International were among the few gainers, with New Oriental hitting a new high, while several other stocks, including SD Gold and Jiangxi Copper, faced significant losses.
