HK Stock Market Move | Semiconductor stocks rebounded strongly, with Hua Hong Grace Semiconductor (01347) rising more than 11% and Semiconductor Manufacturing International Corporation (00981) rising more than 6%.

Semiconductor stocks rebounded strongly, as of the time of writing, Hua Hong Grace Semiconductor (01347) rose 11.69% to HK$159.6; GigaDevice Semiconductor Inc. (03986) rose 10.97% to HK$592; Semiconductor Manufacturing International Corporation (00981) rose 5.88% to HK$73.85; ILUVATAR COREX (09903) rose 7.99% to HK$561. On the news front, the recent catalysis in the computing power industry chain has been intense, and AI company YUEZHIANMEN officially released the new generation of open-source large model Kimi K3. Subsequently, it announced that due to the large number of user requests for the latest large model version K3 within 48 hours greatly exceeding expectations and approaching the existing cluster's carrying limit, the company has suspended new user subscriptions for the C end. In addition, Changxin Technology is about to go public, the listing process of Changjiang Storage is steadily advancing, and the pace of domestic storage expansion is accelerating. Western believes that in this round of resonance of AI and storage prosperity cycles, with the continuous improvement of the technical strength of domestic manufacturers, the process of domestic substitution of computing power and storage chips is expected to accelerate further. The capital expenditure of domestic computing power and storage will be transmitted upstream along the industry chain, thereby driving the growth of wafer foundry and semiconductor equipment industries. The investment opportunities in domestic computing power and wafer foundry and semiconductor equipment are promising.