HK Stock Market Move | ART GROUP HOLD (00565) rose more than 9% during the day, and it entered into a subsidiary partnership to invest in a large-scale data center project in Busan and provide loans.

ART GROUP HOLD (00565) rose by more than 9% in mid-day trading, and as of the time of writing, it was up by 5.9% to HK$3.05, with a trading volume of HK$12.9372 million. On the news front, ART GROUP HOLD announced that its subsidiary Arts Enterprise has acquired approximately 17.9% equity stake in the target company Edgeon Data Co., Ltd for about HK$7.634 million, and has committed to provide approximately HK$70.405 million shareholder loan with an annual interest rate of 15%, to support the construction of a large-scale data center in Busan, South Korea. The target company plans to build a large-scale data center in Busan, South Korea, with a contracted power capacity of 270,000 kVA (approximately 200 MW), primarily serving global cloud service providers and AI companies. This transaction aims to diversify the investment portfolio of Art Group and the loan's interest rate is higher than the bank rate, which can generate stable interest income for the group.