STOCKS | Hong Kong Chip And AI Shares Rise After Dell's Strong Results

SMIC (00981) rose 0.7% to HK$68.75, with turnover of about 2.12 million shares worth HK$146 million, as Hong Kong chip and AI software stocks broadly recovered after Dell's strong quarterly results, according to ETNet. Dell reported second-quarter revenue of $47 billion, a record high and above the market forecast of $44.92 billion, while adjusted earnings per share came in at $7.04, well above the expected $4.91. The company also forecast third-quarter revenue of about $49 billion and adjusted EPS of about $6.50, both far ahead of prior market estimates. Dell shares jumped 15% overnight, helping steady confidence in AI demand and lifting sentiment across global markets. In Hong Kong, Hua Hong Semiconductor (01347) rose 1.3% to HK$119, Cambricon Technologies (06809) gained 1.1% to HK$264.6, GigaDevice Semiconductor (03986) added 1.7% to HK$480.4, Tencent (00700) climbed 1.3% to HK$444, Alibaba (09988) edged up 0.2% to HK$110.1, and Baidu (09888) rose 0.9% to HK$93.2. The Hang Seng Index was up 0.8% at 25,520, while the Hang Seng China Enterprises Index rose 0.9% and the Hang Seng Tech Index gained 0.7%.