HK Stock Market Move | The concept of storage is active against the market trend. GigaDevice Semiconductor Inc. (03986) rose nearly 4%. The AI boom is expected to drive storage demand to remain high.
Storage concept is active against the market, as of the time of writing, Zhaoyi Innovation (03986) rose by 3.51%, to 467 Hong Kong dollars.
The concept of storage is active in a bear market. As of the time of this writing, GigaDevice Semiconductor Inc. (03986) has risen by 3.74% to HK$468; CSOP SK Hynix Daily (2x) Leveraged Product (07709) has risen by 3.7% to HK$48.8.
On the news front, on Monday, storage concept stocks in the US continued to be hot, with SanDisk, Micron Technology, and Seagate Technology all hitting new highs, continuing their long-term upward trend. According to market research firm Counterpoint Research, driven by the increase in memory prices, the DRAM market has achieved a sequential growth of 30% for two consecutive quarters. Wall Street research firm Melius Research believes that the AI boom will continue to drive storage demand to the end of this decade.
In addition, Industrial believes that with the rapid growth in demand for computing power for AI training and inference, data centers' demand for HBM, large-capacity DDR5, and enterprise-level SSD storage is rapidly increasing, leading to a sustained improvement in industry sentiment. As overseas players gradually exit the niche storage market, the ongoing tight supply-demand situation leading to price hikes, domestic niche storage companies are expected to benefit greatly.
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A-share midday report | The three major indices are slightly lower, with the concept of CRO strength, Contemporary Amperex Technology AH shares collectively falling.
