BYD ELECTRONIC's stock soared 9.17% on Wednesday in an intraday trading session, as the tech company was caught up in a broader rally of AI-related stocks in Hong Kong and China.
The Hong Kong-listed shares of BYD ELECTRONIC, along with other major tech firms like Lenovo Group, surged amid optimism that companies could benefit from a revaluation driven by artificial intelligence opportunities. The Hong Kong's Hang Seng Tech index rose 1.2% on the day.
According to analysts, investors are reassessing the growth potential and valuations of Chinese tech companies involved in AI development. With ample liquidity and lower interest rates, there are expectations of "valuation re-rating opportunities ahead for AI-related names," as noted by UBS strategist James Wang.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.