CLSA: China's support for data center construction has led to a pullback in Alibaba's (09988.HK) share price, but management remains determined to capture a greater share of the AI market.

Lyon & Co. issued a research report stating that, according to media reports, the Chinese government plans to invest RMB 2 trillion in data center construction over the next five years, with support from China Mobile (00941.HK) and China Telecom (00728.HK). The firm believes this is driving the recent pullback in Alibaba-W's (09988.HK) share price. It noted that this could trigger market concerns about computing power becoming commoditized. However, the firm argues that Alibaba’s competitive advantage lies in Model-as-a-Service (MaaS) and application-layer capabilities, rather than merely Infrastructure-as-a-Service (IaaS)—an area where China Mobile and China Telecom cannot effectively compete.

AASTOCKSJun 12 10:43

Hang Seng Connect Information Technology ETF by E Fund (159196) rose 2.77%, attracting net inflows of over RMB 1 billion in the past 20 trading days. UBS Group: China is reportedly launching a RMB 2 trillion AIDC development plan, benefiting semiconductor

Gelonghui, June 12 | Hong Kong-listed hard tech companies rose, with Huahong Hongli up more than 5%, driving the E Fund CSI Hong Kong Connect Information Technology ETF (159196) to gain 2.77%. On the news front, UBS Group reported that China is said to be launching a RMB 2 trillion AIDC (Artificial Intelligence Data Center) construction plan, from which semiconductor firms such as SMIC and Huahong are expected to benefit. In a research report, UBS noted that China is reportedly planning to invest approximately RMB 2 trillion over the next five years to build data centers nationwide. The initiative is expected to be led by the National Development and Reform Commission (NDRC) and will emphasize the use of domestic technologies. Chinese operators (China Mobile and China Telecom) as well as domestic chip suppliers are all expected to participate in the plan.

Gelonghui FinanceJun 12 10:28

CITIC Securities: Standardization and key technology validation for 6G are accelerating; recommends proactive positioning in core network equipment and related segments.

The bank believes the 6G industry is still in its early deployment phase and recommends proactively positioning in areas such as satellite communications, phased-array antennas, RF components, test instruments, integrated sensing and communication, and core network equipment.

Zhitong FinanceJun 12 10:15

Guo Jiayao: Hong Kong stocks may see a technical rebound; China's RMB 2 trillion AI infrastructure initiative draws attention

Guo Jiayao, Director of Business Development at Harbour Family Office, stated that U.S. equities rose sharply on Thursday (the 11th), as President Donald Trump announced that the United States and Iran were close to reaching a ceasefire agreement, easing tensions in the Middle East and boosting market sentiment. All three major U.S. stock indices closed with significant gains. The U.S. dollar retreated from its recent highs, while the yield on the 10-year U.S. Treasury note declined to around 4.45%. Gold prices rebounded notably from their lows, whereas oil prices fell below USD 90 per barrel. Hong Kong pre-listed securities generally performed well, suggesting that the local equity market is likely to open higher in early trading. Mainland Chinese equities declined yesterday; the Shanghai Composite Index opened higher but closed down 0.2%, while trading turnover in the Shanghai and Shenzhen markets totaled

AASTOCKSJun 12 09:15

Express News | Ministry of Industry and Information Technology: By 2028, coverage of the 1-millisecond latency zone for metropolitan computing power will be no less than 75%.

BreakingsJun 10 14:48

Express News | DailyActive and China Mobile Zhejiang Reach Strategic Cooperation Agreement

BreakingsJun 10 14:35