On March 2, optical communications leader YOFC saw its shares rise more than 6% during the trading session, defying broader market weakness. Since the beginning of the year, the stock has skyrocketed over 200%.

According to the latest data from the Hong Kong Stock Exchange, on February 27, a shareholder of YOFC transferred shares from Citibank to BNP Paribas. The transferred holdings were valued at HK$2.22 billion, accounting for 3.90% of the company's shares.

Recent adjustments to the MSCI China Index have resulted in the addition of 37 new constituents. Among the newly included Hong Kong-listed stocks is YOFC.