Changes in Hong Kong stocks | AI hardware stocks are rapidly plummeting, AI hardware circuit trading congestion is loose, extreme leverage and centralized settlement of congested positions

The Zhitong Finance App learned that AI hardware stocks have plummeted at an accelerated pace. As of press release, Cambridge Technology (06166) fell 12.43% to HK$90.55; Huahong Hongli (01347) fell 9.66% to HK$142.2; GigaYi Innovation (03986) fell 9.17% to HK$545; and Changfei Optical Cable (06869) fell 8.11% to HK$134.9.

According to the news, Bank of America's latest fund manager survey shows that global investors who have recently bought large amounts of stocks should consider reducing their holdings appropriately. According to Wall Street giants such as Bank of America and Nomura, and top market research institutes such as SemiAnalysis, this round of global memory chip and even AI computing power infrastructure investment-themed stocks generally plummeted closer to extreme expectations, extremely leveraged positions, and centralized liquidation of overcrowded bullish positions, rather than a sudden collapse in industrial demand.

The Guolian Security Fund said earlier that this round of overseas market sell-off stemmed from the loosening of traffic congestion on the AI hardware circuit. The market was worried that the AI hype in the early stages was too intense, and the funds collectively began to take risks and reduce positions. In the first half of the year, core circuits such as semiconductors, AI computing power, and optical modules emerged from strong markets. Most popular targets rose significantly during the year. The sector as a whole accumulated a large amount of floating profit chips, and the risk of short-term pullbacks continued to accumulate. The adjustment was the first to be launched from the popular target with the highest increase during the year, and has clear profit settlement characteristics.