HK Stock Market Move | Some optical communication concept stocks are rising. Morgan Stanley judges that FCC restrictions are not a "one-size-fits-all" measure, and the industry is expected to continue benefiting from the expansion of AI computing power.

Some optical communication concept stocks are rising. As of press time, CREALIGHTS (01191) is up 4.79% at HK$133.4; Cig Shanghai (06166) is up 4.24% at HK$115.5; Zhongji Innolight (03308) is up 3.58% at HK$1,100; YOFC (06869) is up 3.21% at HK$173.5. On the news front, optical communication concept stocks in the U.S. market surged overnight, with Coherent rising 10.90% and Lumentum gaining 7.67%. Morgan Stanley released a telecom and networking equipment industry research report on October 1. Its core judgment is that the U.S. FCC's restrictions on Chinese-made optical modules are most likely to take effect at the 3.2T generation, but a "U.S. content exemption" path exists. The overall landscape is favorable for Lumentum and Coherent, rather than a comprehensive ban on Chinese optical module manufacturers. Zhongtai recently noted that looking ahead, the optical communication industry is expected to continue benefiting from three drivers: AI computing power expansion, speed upgrades, and network architecture evolution. On the optical module side, 800G maintains high prosperity, 1.6T has entered a phase of large-scale volume ramp-up, and is evolving toward 3.2T and CPO/NPO; on the optical chip side, demand for 200G EML and high-power CW light sources is expected to continue rising; optical fiber demand is extending from traditional telecom networks to high-value scenarios such as AIDC, DCI, submarine cables, and CPO polarization-maintaining fiber; optical components are further expanding from traditional module supporting roles toward CPO, OCS, and high-density connectivity.