HK Stock Market Move | Concept stocks related to AI applications are active. MEITU (01357) and MOBVISTA (01860) both rose more than 5%.

Concept stocks related to AI applications were active in the morning session. As of press time, FENBI (02469) rose by 7.14% to 3 Hong Kong dollars; MEITU (01357) rose by 5.57% to 9.1 Hong Kong dollars; MOBVISTA (01860) rose by 5.04% to 18.74 Hong Kong dollars; MARKETINGFORCE (02556) rose by 4.92% to 45.64 Hong Kong dollars; CHINA LIT (00772) rose by 3.59% to 43.28 Hong Kong dollars. On the news front, AI application concepts in the US stock market surged last Friday, with Twilio and Reddit posting gains of over 19% and over 7% respectively. It is worth noting that the earnings season for AI applications in the US stock market will commence, with Palantir on November 4th, Shopfiy on November 5th, and Applovin on November 6th set to release their latest performance. In addition, domestic software companies have continuously exceeded expectations, with 360 Security Technology Inc. achieving a third-quarter single-quarter revenue of 2.241 billion yuan, a year-on-year growth of 16.88%, and a net profit of 160 million yuan, turning losses into profits. It is worth mentioning that the 15th Five-Year Plan proposes seizing the commanding heights of the AI industry application. Jianghai Securities believes that this will further promote the coordinated development of the AI industry chain. CITIC SEC previously stated that since October, OpenAI, Xai, Google, and others have successively updated their capabilities in large models, promoting industrial innovation, continuing to benefit the landing of AI applications, and domestic AI applications are expected to usher in a turning point opportunity. At the same time, with changes in the external environment combined with domestic policy support, the future application of domestic products and engineering capabilities, as well as support for AI, may become more significant. It is optimistic that domestic companies will seize investment opportunities in the international market for AI applications based on their product and engineering capabilities, innovation, and iteration speed.