Hong Kong Aerospace leads gain in tech shares on China's supportive policy push

China Strategic Technology

07/09/2022 03:52

** Shares of satellite big data applications and solutions
group Hong Kong Aerospace Technology Group Ltd  1725.HK  soar as
much as 45.5% to HK$18.80, their highest since June 29
    ** Stock is the biggest pct gainer on the Hang Seng
Composite Index  .HSCI  and the Hang Seng Stock Connect Hong
Kong Index  .HSHKI 
    ** China will strengthen its state-led system to achieve
breakthroughs of core technologies, state media quoted President
Xi Jinping as saying on Tuesday, amid tensions with the United
States  urn:newsml:reuters.com:*:nL1N30D0SL
    ** In July, Hong Kong Aerospace had teamed up Huawei Cloud
to establish a remote-sensing big data and AI service platform
in Guangdong-Hong Kong-Macau Greater Bay Area, and it will
responsible for a satellites launching project and business
development of the platform  urn:newsml:reuters.com:*:nFWN2OI0T0
    ** Co had also said Shenzhen Stock Exchange announced that
its shares have been included as eligible stocks of the
Shenzhen-Hong Kong Stock Connect effective Sept. 5
 urn:newsml:reuters.com:*:nFWN30C03Z urn:newsml:reuters.com:*:nFWN2ZY1Q0
    ** Stock of Chinese chip foundry Semiconductor Manufacturing
International Corp  0981.HK  climbs 1.7% and Hua Hong
Semiconductor  1347.HK  rises 2.4%   
    ** Hang Seng Stock Connect Hong Kong Index  .HSHKI  and Hang
Seng Composite Index  .HSCI  both slip 1.2% while Hang Seng
Index  .HSI  falls 1.4%
    ** As of last close, stock of Hong Kong Aerospace had
dropped 52.8% this year

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))