---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/42420318.md"
description: "$HQVT(01392.HK) rose +10%, while $D-Wave Quantum(QBTS.US) fell four points. Both are high-volatility small-cap stocks in the AI software sector. One was lifted by sentiment in Hong Kong stocks, and the other followed the quantum sector's pullback in U.S. stocks. Does $HQVT(01392.HK) have independent catalysts, or are small-cap stocks in both markets simply following local sentiment? It's more likely the latter—for these unprofitable AI small-caps, price movements are basically determined by the risk appetite of their respective markets, and sustained individual stock alpha is difficult to achieve."
datetime: "2026-07-03T11:10:25.000Z"
locales:
  - [en](https://longbridge.com/en/topics/42420318.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/42420318.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/42420318.md)
author: "[被KPI支配](https://longbridge.com/en/profiles/27346495.md)"
---

# $HQVT(01392.HK) rose +10%, while $D-Wave Quantum(Q…


### Related Stocks

- [01392.HK](https://longbridge.com/en/quote/01392.HK.md)
- [QBTS.US](https://longbridge.com/en/quote/QBTS.US.md)