On the futures settlement day for Hong Kong stocks, the HSI last reported at 25,821 this morning (30th), up 13 points or less than 0.1%, with turnover of HKD132.3 billion. The HSTECH last reported at 4,795, down 69 points or 1.4%.

The three major A-share indices in Mainland China moved lower in the morning session. The Shanghai Composite Index was down 37 points or nearly 1% at 3,790. The Shenzhen Component Index and ChiNext Index, which are heavily weighted toward technology stocks, plunged 3.4% and 5.4% to 13,188 and 3,195 respectively. The STAR Composite Index also fell off 5.6% to 1,757.

Hijacked by the slump in A-share technology stocks, Hong Kong-listed techs also came under selling pressure. AI large-model stocks were notably weak this morning. Z.AI (02513.HK) opened 1.45% higher before reversing course and once nosediving 17.7% to a low of HKD850, the lowest level in more than two and a half months. It last reported at HKD870, down 15.78%, with turnover of HKD4.34 billion. MINIMAX-W (00100.HK) reversed lower after opening up 0.1% and last reported at HKD203.8, down 4.23%, with turnover of HKD517 million. Big data service provider XUNCE (03317.HK) last reported at HKD97.75, down 5.92%, with turnover of HKD105 million.

AI-related hardware stocks faced hefty selling. MONTAGE TECH (06809.HK) last reported at HKD254, down 5.79%, with turnover of HKD715 million. ILUVATAR COREX (09903.HK) last reported at HKD402.8, down 8.87%, with turnover of HKD671 million. LUXSHARE ICT (02475.HK) last reported at HKD55.55, down 6.09%, with turnover of HKD59.2541 million. LENS (06613.HK) last reported at HKD19.9, down 6.22%, with turnover of HKD179 million. YOFC (06869.HK) last reported at HKD92.5, down 10.02%, with turnover of HKD1.815 billion.

GIGADEVICE (03986.HK) last reported at HKD421.2, down 3.53%, with turnover of HKD1.623 billion. The company said Chairman Zhu Yiming had reduced his A-share holdings and cashed out a cumulative RMB4.4 billion, and planned to increase his A-share holdings by at least RMB1 billion starting from mid-December.

ZJ INNOLIGHT (03308.HK), the optical module giant listed in Hong Kong today, was last at HKD904.5, 7.7% below its listing price of HKD980, with turnover of HKD6.403 billion.
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AASTOCKS Financial News
Website: www.aastocks.com

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Stock & Type	Code	Strike(Call Level)	Last	Effective Gearing
MIMAX (C)	15191	480 (-)	0.077	2.0 X
MIMAX (C)	15351	380 (-)	0.190	1.9 X
SMIC (C)	29889	105 (-)	0.056	4.1 X
SMIC (C)	26591	83.93 (-)	0.117	5.1 X
SMIC (C)	15962	82 (-)	0.123	3.7 X
SMIC (P)	29863	74 (-)	0.134	2.2 X
SMIC (P)	28871	62 (-)	0.066	5.1 X
SMIC (Bull)	59368	66.2 (66.8)	0.036	10.1 X
SMIC (Bull)	55707	62.2 (62.8)	0.057	6.4 X
SMIC (Bear)	61094	85.6 (85)	0.057	6.4 X
SMIC (Bear)	62454	80.6 (80)	0.036	10.1 X
LENOV (C)	16291	35 (-)	0.142	2.4 X
LENOV (C)	13260	30 (-)	0.136	2.7 X
LENOV (P)	16374	28.4 (-)	0.129	1.5 X
LENOV (P)	13262	23 (-)	0.053	2.4 X
HUAHO (C)	15960	185 (-)	0.057	3.3 X
HUAHO (C)	29513	159.88 (-)	0.080	4.3 X
HUAHO (P)	29890	108 (-)	0.187	2.1 X
HUAHO (P)	28874	88 (-)	0.060	3.7 X
HUAHO (Bull)	53386	106.2 (108)	0.075	15.2 X
HUAHO (Bull)	63198	103.2 (105)	0.021	10.8 X
KBLH (C)	15555	68 (-)	0.045	2.8 X
KBLH (C)	28762	50.2 (-)	0.124	2.7 X
KBLH (P)	13452	38 (-)	0.201	1.4 X
KBLH (P)	28758	28 (-)	0.136	1.2 X
SUNY (C)	29169	84.2 (-)	0.050	5.4 X
LUXSH (C)	14963	78 (-)	0.069	3.5 X
Z.AI (C)	15551	1,800 (-)	0.070	1.7 X
Z.AI (C)	15964	1,488 (-)	0.139	1.6 X
Z.AI (C)	28382	1,388 (-)	0.430	2.4 X
ZJINN (C)	16108	1,648 (-)	0.103	2.2 X
ZJINN (C)	15782	1,300 (-)	0.134	2.3 X
GIGA (C)	15550	750 (-)	0.077	1.9 X
YOFC (C)	14926	235 (-)	0.040	2.6 X
YOFC (C)	15347	188 (-)	0.074	2.0 X
YOFC (C)	15961	155 (-)	0.206	2.0 X
YOFC (Bull)	55711	96 (105)	0.074	3.5 X
Nvidia (C)	11185	275 (-)	0.124	7.2 X
Nvidia (P)	11090	168 (-)	0.081	5.7 X
MU (P)	11114	400 (-)	0.109	3.9 X
META (C)	11069	830 (-)	N/A	N/A
META (P)	11138	475 (-)	0.425	5.1 X