Changes in Hong Kong stocks | AI hardware stocks reversed the market and plummeted, and the market is worried that the Democratic Party will restrict AI infrastructure agencies and say that they may downgrade CapEx in the short term

The Zhitong Finance App learned that AI hardware stocks fell sharply against the market. As of press release, Changfei Optical Fiber Cable (06869) fell 9.24% to HK$99.65; Jiantao Laminate (01888) fell 8.95% to HK$33.98; Zhongji Xuchuang (03308) fell 7.20% to HK$619; and Cambridge Technology (06166) fell 6.21% to HK$59.7.

According to the news, J.P. Morgan's latest report indicates that the Democratic Party gained control in the House of Representatives and Senate, and won gubernatorial elections in key data center states such as Texas, Georgia, New Mexico, and Nevada. Meanwhile, out of 45 local voting measures restricting data centers, 42 have already been passed or are likely to be passed. J.P. Morgan believes that the probability that the suspension will eventually evolve into a permanent ban is limited, but the pace of industry expansion has been substantially affected.

Huatai Securities pointed out that the unanimous expectations before the election did not take into account regulatory variables, short-term market or trading 27/28 Capex downsizing risks. The real impact will first be reflected in delays in power transmission to the park and delays in equipment procurement, inspection and repayment. Comprehensive demand independence and delivery determinism to maintain sector ranking: consumer electronics > design > foundry > storage > equipment.