HK Stock Market Move | PLOVER BAY TECH(01523) rose more than 5% to hit a new high. According to reports, SpaceX is planning to create Starlink smartphones.

PLOVER BAY TECH (01523) rose more than 5% in the afternoon, reaching a high of HK$7.79, setting a new historical high. As of the time of writing, it rose by 5.27%, trading at HK$7.79 with a trading volume of 18.76 million Hong Kong dollars. On the news front, according to a report from Caixin, insiders revealed that with SpaceX planning to launch an IPO this year, the company plans to expand its Starlink business to new markets, including launching Starlink smartphones, direct internet connectivity to devices, and space orbit tracking services. It is reported that in January 2024, Peplink announced an agreement with SpaceX's Starlink to become the first authorized technology service provider, and Peplink is the main brand of PLOVER BAY TECH.