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HK stocks fluctuate | China United Network Communications (00762) fell more than 5%, leading the decline in telecommunication sector. Institutions said that the performance of Chinese telecommunication stocks will be relatively weak in the first half of t
Telecommunication sector continued to decline early this morning. As of press time, China United Network Communications (00762) fell 5.05% to HKD 6.02; China Telecom (00728) fell 2.84% to HKD 4.11; China Mobile (00941) fell 0.35% to HKD 71.05.
[Special Guest] Deng Shengxing: It's difficult for Hong Kong stocks to reverse their weakness and they are hovering around 17,000 points.
The Hang Seng Index closed at 17090 on Friday (9th), up 198 points or 1.17%. The total daily turnover of the market was 88 billion yuan. The China Enterprises Index rose 76 points or 1.29% to 6017. The Hang Seng Tech Index rose 70 points or 2.1% to 3436. Tencent (00700) rose 0.5% to 370 yuan, with a leading turnover of 6.077 billion yuan. China Mobile (00941), the second largest turnover after releasing its results, fell 1.3% to 71.3 yuan. China Unicom (00762) fell 3.8%, the worst performing blue chip. Li Auto Inc (02015) rose 5.4%, the best performing blue chip.
South-to-North Water Transfer reduced holdings of multiple technology stocks, while North-to-South Water Transfer has been net buying Tencent for 12 consecutive days and selling China Mobile and China Telecom.
Track the latest trends of north-south directional funds.
Northbound capital trend | Northbound capital's net buy of 2.278 billion, double winners of wafer foundry performance, received additional buying. Telecommunication sector stocks collectively experienced sell-offs by domestic institutional investors.
On August 9th, the Hong Kong stock market had a net buy of 2.278 billion Hong Kong dollars in Northbound trading. Among them, the net buy of Hong Kong Connect (Shanghai) was 1.329 billion Hong Kong dollars, and the net buy of Hong Kong Connect (Shenzhen) was 0.949 billion Hong Kong dollars.
Jefferies Adjusts China Mobile's Price Target to HK$101.39 From HK$101.69, Keeps at Buy
Research Reports | CICC: China Mobile's net income in the first half of the year has grown well, maintaining the "outperform industry" rating for A and H shares.
According to research reports from China International Capital Corporation, China Mobile's revenue in the first half of the year was slightly lower than expected, mainly due to a decline in personal market revenue compared to the previous year; due to better-than-expected control of network operating costs, net income increased significantly in the first half of the year. It is believed that mobile ARPU is expected to recover from the 1H performance for the whole year. The company actively creates new growth points for smart home applications, and believes that household market revenue is expected to continue to achieve good growth. In addition, mobile cloud revenue maintains a fast growth rate, with a 1H24 political and enterprise market revenue of 112 billion yuan, a year-on-year increase of 7.3%. The company's management expects accounts receivable to improve in the second half of the year, and believes that the improvement in accounts receivable for the whole year is expected to promote the company's grow
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ZnWC : China has emerged as the world’s top producer of generative AI patents, but it is struggling to turn many of its ideas into action thanks to US export controls and longstanding struggles with its innovation culture at home.
Source:
China wrestles with ‘quantity over quality’ in generative AI patents | Technology - Al Jazeera
ZnWC : Despite the lower overall number of patents, US developers have a clear lead. Stanford University’s 2024 AI Index named the US as the undisputed home of the most “notable AI models” to date, producing 61, compared with 21 from the European Union and 15 from China.