---
title: "Hong Kong stock movement: ILUVATAR COREX rises 10.38%: included in the Nasdaq Index, Alibaba's placement drags down tech stocks"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/297136998.md"
description: "ILUVATAR COREX rose 10.38%; Hua Hong Semiconductor rose 5.02%, with a transaction volume of HKD 2.924 billion; SMIC rose 2.44%, with a transaction volume of HKD 2.91 billion; Montage Technology rose 12.38%, with a transaction volume of HKD 1.713 billion; GigaDevice rose 6.74%, with a market value of HKD 361.8 billion"
datetime: "2026-08-27T07:02:12.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/297136998.md)
  - [en](https://longbridge.com/en/news/297136998.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/297136998.md)
generator: "portal-rs"
---

# Hong Kong stock movement: ILUVATAR COREX rises 10.38%: included in the Nasdaq Index, Alibaba's placement drags down tech stocks

**Hong Kong Stock Movement**

ILUVATAR COREX rose by 10.38%. Based on recent key news:

1.  On August 24, ILUVATAR COREX was included in the Hang Seng Tech Index, effective September 7. This move is seen as recognition of the company's technological innovation, R&D investment, revenue growth, market capitalization, and liquidity, and is expected to broaden the investor base and enhance market attention and trading liquidity.

2.  On August 24, Alibaba raised HKD 80 billion through a placement, putting pressure on tech stocks and causing the Hang Seng Index to drop nearly 500 points. As one of the tech stocks, ILUVATAR COREX's share price fluctuated as a result.

3.  On August 24, market analysis pointed out that companies newly included in the Hang Seng Tech Index, such as ILUVATAR COREX, may face the "blue curse," meaning their stock prices may decline after inclusion, but they still attract investor attention in the short term. Tech stocks fluctuated due to Alibaba's placement.

**Stocks with High Trading Volume in the Industry**

Huahong Semiconductor rose by 5.02%. Based on recent key news:

1.  On August 26, Huahong Semiconductor announced its interim results, with sales revenue reaching a record high of USD 1.378 billion, a year-on-year increase of 24.5%. Gross profit grew by 83.2%, mainly due to increased average selling prices and cost reduction and efficiency improvement, driving the stock price up. Source: Zhitong Finance

2.  On August 26, Huahong Semiconductor announced it would become a constituent stock of the Hang Seng Index, which is expected to attract passive fund inflows and further boost market confidence. Source: Gelonghui

3.  On August 27, Huahong Semiconductor's stock price rose for three consecutive days, with a cumulative increase of 5.87%, as the market held an optimistic view on its performance and future growth expectations. Source: Economic Information Daily. The semiconductor industry is experiencing a cyclical recovery, and the market is optimistic.

SMIC rose by 2.44%. Based on recent key news:

1.  On August 25, SMIC recorded a large non-automated trading transaction, with its stock price rising 1.9% compared to the previous day's closing price, and a net active buying of RMB 152 million, driving the stock price up. Source: Economic Information Daily

2.  On August 26, the Jackson Hole conference and SMIC's performance announcement became market focal points, with positive market expectations driving the stock price higher. Source: Economic Information Daily

3.  On August 27, after Nvidia's performance announcement, hard tech stocks in the Asia-Pacific region generally performed well, and SMIC benefited from improved market sentiment, leading to a rise in its stock price. Source: Economic Information Daily. The semiconductor industry faces risks of technological dependence.

Lianqi Technology rose by 12.38%. Based on recent key news:

1.  On August 24, Lianqi Technology announced that its PCIe® 6.x/CXL® 3.x Retimer chip passed PCI-SIG certification and was officially listed in the official supplier directory. This certification simplifies the procurement process for large OEM manufacturers and hyperscale data center operators, shortens the certification cycle, enhances market confidence, and drives the stock price up.

2.  On August 21, JP Morgan reduced its holdings in Lianqi Technology by 517,932 shares, totaling approximately HKD 139 million. Although such reduction typically has a negative impact on stock prices, Lianqi Technology's stock price still rose, indicating market confidence in its future development On August 27, Lanqi Technology benefited from the overall rise in the AI chip sector, particularly driven by NVIDIA's strong financial results, which boosted related stocks. As a high-performance interconnect chip company, market expectations for its product demand have increased, further driving up its stock price. The demand for AI chips has risen, and market confidence has strengthened.

**Stocks ranked among the top in industry market capitalization**

Zhaoyi Innovation rose by 6.74%. Based on recent news,

1.  On August 24, Zhaoyi Innovation announced that it expects DRAM prices to continue rising in the second half of the year, and the SLC NAND Flash boom cycle is expected to last at least until the end of 2027. This news boosted market confidence and drove up the stock price.

2.  On August 24, investment mogul Ge Weidong increased his holdings in Zhaoyi Innovation stocks, showing confidence in the company's prospects. This move further enhanced investor confidence and promoted the rise in stock price.

3.  On August 25, Zhaoyi Innovation conducted a stock repurchase on the Shanghai Stock Exchange, repurchasing 265,000 shares for a total amount of 102.73 million RMB. The repurchase action conveyed the company's confidence in its own value, driving up the stock price. The boom cycle in the memory chip industry continues, with rising DRAM and NAND Flash prices

### Related Stocks

- [09903.HK](https://longbridge.com/en/quote/09903.HK.md)
- [01347.HK](https://longbridge.com/en/quote/01347.HK.md)
- [00981.HK](https://longbridge.com/en/quote/00981.HK.md)
- [06809.HK](https://longbridge.com/en/quote/06809.HK.md)
- [03986.HK](https://longbridge.com/en/quote/03986.HK.md)

## Related News & Research

- [Shanghai Iluvatar CoreX names Sun Guannan vice president](https://longbridge.com/en/news/297327191.md)
- [GuoSen Reaffirms Their Buy Rating on Shanghai Iluvatar CoreX Semiconductor Co., Ltd. Class H (9903)](https://longbridge.com/en/news/297999405.md)
- [ANALYSIS-Investors heartened by Warsh inflation talk, still uncertain about Fed action](https://longbridge.com/en/news/297468486.md)
- [Stella International FY26 H1 net profit drops 18.6% to US$63.59 million; revenue rises 1.5% to US$786.67 million](https://longbridge.com/en/news/297755946.md)
- [Leave a Nest Capital president makes first appearance at TECH GARAGE Seminar in Malaysia](https://longbridge.com/en/news/297597370.md)

---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**