HK Stock Market Move | AI hardware stocks rebounded in the afternoon. Zhongji Innolight (03308) once rose more than 6%. Multiple tech companies spoke out to stabilize market confidence.

AI hardware stocks rebounded in the afternoon, with Zhongji Innolight once rising more than 6%. As of press time, GigaDevice Semiconductor Inc. (03986) rose 6.12% to HK$339.80; Shenzhen Kinwong Electronic (03228) rose 4.23% to HK$61; Zhongji Innolight (03308) rose 3.31% to HK$748.00; KB LAMINATES (01888) rose 2.66% to HK$37.8. On the news front, at midday on October 23, technology companies including Zhongji Innolight, Eoptolink Technology Inc., and Suzhou TFC Optical Communication jointly issued announcements on their recent production and operating conditions to stabilize market confidence. Zhongji Innolight said the company's production and operations are currently all normal, its supply chain is stable, capacity utilization is sufficient, and customer order demand is strong. Downstream demand remains highly robust, and the company has a full order backlog. Suzhou TFC Optical Communication said that the industry is currently enjoying a high degree of prosperity, and against the backdrop of sustained construction of AI computing infrastructure, the optical interconnect industry will remain in a stage of rapid development overall for some time to come. Recently, as market concerns about the AI boom have intensified, global technology stocks have come under considerable selling pressure. JPMorgan said in its latest research report to clients that the recent sell-off in AI-related stocks may be nearing an end. In response to market concerns about the stability of the funding chains of neocloud companies, JPMorgan believes that even if the financing models of such companies prove unsustainable, the AI capital expenditure cycle will not be interrupted as a result.