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HSI Picks Up 400Pts+; Power Gear Stocks Leap; DONGFANG ELEC/ SH ELECTRIC/ HARBIN ELECTRIC Up 10%+ Each
Recommend 13 Positive 24 Negative 11 |
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Seeing a ray of hope in the Middle East geopolitical situation, the three major US stock indices reverted up overnight (4th). The Fourth Session of the 14th National People's Congress opened this morning, with Chinese Premier Li Qiang delivering the government work report. Major Asia-Pacific stock markets rebounded broadly this morning (5th), with the Nikkei picking up 2.7% and the South Korean stock market, which had previously leaped 12% and triggered a circuit breaker, last jumped up 9.9%. The Shanghai and Shenzhen stock markets ticked up 0.5% and 1.7% respectively. Hong Kong bourse turned north this morning (5th) after three straight days of decline. The HSI opened 334 points higher; with extended gains in the early session, it last traded at 25,685, up 435 points or 1.7%, with a turnover of HK$97.44 billion. Power equipment stocks collectively mushroomed. DONGFANG ELEC (01072.HK) last stood at HK$43.86, up 15.36%, with a turnover of HK$869 million. SH ELECTRIC (02727.HK) last posted at HK$4.99, up 17.41%, with a turnover of HK$650 million. HARBIN ELECTRIC (01133.HK) last traded at HK$28.66, up 11.43%, with a turnover of HK$148 million. NE ELECTRIC (00042.HK) last logged at HK$0.53, up 11.58%, with a turnover of HK$7.6876 million. Both Dongfang Electric (600875.SH) A-shares and Shanghai Electric (601727.SH) A-shares hit their day’s limits. CICC’s report wrote that power equipment companies are expected to benefit from power shortages in Europe and the US, coupled with the overseas expansion of domestically produced computing power tokens. Aging power grid infrastructure in Europe and the US, compounded with frequent blizzard warnings, mounted the risk of power outages, suggesting a rise in systemic risk. CICC stayed upbeat about the start of a major global power investment cycle. On the other hand, the cost advantage of domestic electricity prices is becoming increasingly apparent, allowing domestically produced large models to seize global market share, which is expected to open up opportunities for domestically produced computing power tokens to go global. AAStocks Financial News |
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