Key Takeaways:
- MOMENTA-W shares rose 3.5% on its Hong Kong Main Board debut.
- BASICSEMI surged 13.2% in its first trading session on the exchange.
- Financial Secretary Paul Chan said the listings carry multiple significances for Hong Kong.
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MOMENTA and BASICSEMI rise in HK debut as Chan touts AI, chip boom
MOMENTA-W (06880.HK) and BASICSEMI (09971.HK) rose 3.5% and 13.2% respectively on their Hong Kong Main Board debuts this morning.
"The listings carry multiple significances," Paul Chan, Financial Secretary of Hong Kong, said at the listing ceremony.
MOMENTA-W added HK$10.20 to close at HK$305.70, while BASICSEMI gained HK$4.18 to HK$35.80. The two companies have captured the global investment boom in artificial intelligence and semiconductors, Chan said, leveraging Hong Kong's active IPO market to strengthen their research and manufacturing capabilities and expand capacity for domestic and overseas business development.
The listings create new channels for domestic and overseas investors to participate in mainland China's "Physical AI" and cutting-edge semiconductor sectors, allowing them to share the benefits of industry growth, Chan said. They also signal that leading mainland innovation enterprises are using Hong Kong as an international platform to align with international standards and enhance global visibility, adding vivid examples of "Technology-driven China" going global.
Chan also invited mainland technology enterprises to bring cutting-edge research and development to Hong Kong and establish international business headquarters there, in addition to empowering them through the city's capital markets.
The strong first-day performance signals institutional demand for AI and semiconductor exposure through Hong Kong-listed vehicles. Investors will watch for follow-on offerings and sector peer listings as the city's IPO pipeline continues to build.
This article is for informational purposes only and does not constitute investment advice.
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