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Hong Kong Stocks Fall on Profit-Taking; Nanshan Aluminium Slides 5% in Debut
Xiaomi fell sharply by 6% and narrowly maintained its offering price, while BYD secured huge financing in quick succession. Car manufacturing remains a key focus for future investments.
① After completing this fundraising, Xiaomi will have 82.5 billion Hong Kong dollars in Cash. ② Analysts indicate that Xiaomi's placement of 0.8 billion shares may aim to accelerate the expansion of its Autos Business. ③ Not long ago, BYD just completed a 43.509 billion Hong Kong dollar placement financing.
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After the low-key release of DeepSeek-V3, the industry was shocked and once again questioned the Silicon Valley model.
① DeepSeek released the V3-0324 model on Monday evening, with preliminary tests showing that it can run on Consumer-grade Hardware, breaking the traditional notion that large models require a Datacenter; ② DeepSeek's model continues to reduce the energy consumption and computing costs of large models while maintaining an open-source approach to continuously drive technological innovation, leading to the rapid development of the domestic AI Industry and raising questions about Silicon Valley's closed and paid model.
[Special Contributor] Option Jack: Will Xiaomi's placing be the last straw that breaks the camel's back for Hong Kong stocks?
King Wo Financial News | The Hang Seng Index hit a new high of 24,874 last Wednesday (March 19), reaching as high as 24,928 during the night session, marking the highest point in over three years, just as it approached the 25,000-point mark. However, the market remains very active, with investors anticipating a pullback to Buy. Starting last Friday, it began to decline, experiencing drops on 3 of the last 4 trading days, with lower lows each day. Yesterday, the low was at 23,531, followed by a rebound at close. Today (March 25), it dropped again, hitting a morning low of 23,323, marking four consecutive days of lower lows. Yesterday (March 24), the Hang Seng Index rose by 215 points.
