HK Stock Market Move | Some semiconductor stocks have rallied and turned higher. Shanghai Fudan (01385) rose more than 4%, while Semiconductor Manufacturing International Corporation (00981) rose more than 3%.

Part of the semiconductor stocks rose, with Shanghai Fudan (01385) up 4.28% to HK$23.15, Semiconductor Manufacturing International Corporation (00981) up 3.55% to HK$56.95, HUA HONG SEMI (01347) up 2.55% to HK$42.5, and SOLOMON SYSTECH (02878) up 1.61% to HK$0.63. On the news front, market research firm CounterPoint Research reported that global semiconductor revenue is estimated to reach $621 billion in 2024, a 19% year-on-year increase driven by the surge in demand for AI. Guotai Junan Research believes that the intensifying AI competition and accelerating industry development will lead to breakthroughs in the current bottleneck of chip manufacturing in China as the industry chain matures. Companies in the semiconductor manufacturing and testing sector are expected to benefit from the huge demand in the domestic market, and it is recommended to hold onto Semiconductor Manufacturing International Corporation and HUA HONG SEMI. Tianfeng previously pointed out the urgent need for domestically controllable semiconductors, continuing to see investment opportunities in the areas of local semiconductor equipment materials/EDA/IP.