GO
| HSI1 | 24,533.40 | -263.58 | 52.98B |
| HSCEI1 | 8,292.90 | -76.18 | 16.37B |
| Back Zoom + Zoom - Block Traded | |
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2026-11-05 11:10:11 Since Daiwa first initiated coverage in August, the Token price index has plunged about 25%, while the multi-region average blended pricing of OpenAI and Anthropic dropped about 31% and about 47%, respectively, potentially reshaping value distribution across the AI stack. The broker forecast the AI Token price war to slow ARR growth for model laboratories in the short term. At the current stage, it preferred companies with existing contract protection and IaaS exposure, while viewing applications and distribution as long-term beneficiaries of lower-cost intelligence. Daiwa's stock picks, in pecking order, are BABA-W (09988.HK), TENCENT (00700.HK), KINGSOFT CLOUD (03896.HK), Z.AI (02513.HK) and MINIMAX-W (00100.HK), all rated Buy. The broker was bullish about Alibaba's integration of cloud services, self-developed chips and model businesses, as well as Tencent's development of agentic AI products combined with broad distribution and cloud operations. ~ AASTOCKS Financial News Website: www.aastocks.com | |