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<H Shrs>HSI Rises 224 Pts at Midday; BABA-W, MEITUAN-W Rally; MINIMAX-WP Soars 30%
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The HSI concluded the midday up 224 points or 0.9% at 26,456. The HSCEI rose 97 points or 1.1% to 9,146. The HSTECH hiked 117 points or 2.1% to 5,805. The total market turnover for the half-day amounted to HKD168.375 billion. The Anti-Monopoly and Anti-Unfair Competition Committee Office of China's State Council announced an investigation into the market competition status of the food delivery platform service industry. MEITUAN-W (03690.HK) rocketed 7.3% to HKD105.7. JD-SW (09618.HK) gained 2.1%. BABA-W (09988.HK) swelled 5.3% to HKD154.3. AI and software stocks rallied amid reports that DeepSeek will release a new-generation flagship AI model in the coming weeks. BIDU-SW (09888.HK) and KUAISHOU-W (01024.HK) ticked up 4.1% and 5.6%. SENSETIME-W (00020.HK) and CHINASOFT INT'L (00354.HK) jumped over 4%. KINGDEE INT'L (00268.HK), KINGSOFT CLOUD (03896.HK), MEITU (01357.HK), FOURTH PARADIGM (06682.HK), and INSILICO (03696.HK) were hyped up 10.2-13.5%. WEIMOB INC (02013.HK) mushroomed 23%. KNOWLEDGE ATLAS (02513.HK) and MINIMAX-WP (00100.HK) skyrocketed 32% and 31%. Chip stocks BIREN TECH (06082.HK) and ILUVATAR COREX (09903.HK) also leaped 12.4% and 9.7%, while SMIC (00981.HK) and HUA HONG SEMI (01347.HK) ebbed less than 1%. Among other technology stocks, TENCENT (00700.HK) and NTES-S (09999.HK) added 2.3% and 1.7%. BILIBILI-W (09626.HK), CHINA LIT (00772.HK), and ALI HEALTH (00241.HK) advanced over 5%. CHINA RUYI (00136.HK) went up 7.6%. The China Passenger Car Association predicted this year's overall car market sales to be flat compared to last year's domestic retail volume. Carmakers GEELY AUTO (00175.HK), LEAPMOTOR (09863.HK), and GWMOTOR (02333.HK) shed 2.4-3.1%. BYD COMPANY (01211.HK) edged up 0.5%. AAStocks Financial News |
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