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.
~

AASTOCKS Financial News
Website: www.aastocks.com

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