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<H Shrs>HSI Rises 146 Pts at Midday; AI & Pharma Stocks Rally; KNOWLEDGE ATLAS Spikes 21%
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The HSI settled the midday up 146 points or 0.5% at 27,173. The HSCEI rose 71 points or 0.8% to 9,239. The HSTECH grew 45 points or 0.8% to 5,463. The total market turnover at midday amounted to HKD133.823 billion. Among tech stocks, TENCENT (00700.HK) and MEITUAN-W (03690.HK) fell 1.1% and 3%. KUAISHOU-W (01024.HK), JD-SW (09618.HK), BIDU-SW (09888.HK), BABA-W (09988.HK), and NTES-S (09999.HK) jumped 1.5-2.3%. In addition, MEITU (01357.HK) and CHINA RUYI (00136.HK) rallied 3.8% and 7%. NEW ORIENTAL-S (09901.HK) and EAST BUY (01797.HK) dived 4.7% and 5.8%. CHINA LIT (00772.HK) surged 15.6%. Its CEO said in an internal letter that new business models are becoming new growth engines. AI stocks were still in demand. XTALPI (02228.HK) ballooned 3.1%. UNISOUND (09678.HK) and INSILICO (03696.HK) leaped 7.4%. KNOWLEDGE ATLAS (02513.HK) soared 21% to HKD335. MINIMAX-WP (00100.HK) shot up 6.7% to HKD549.5. JPMorgan initiated coverage on KNOWLEDGE ATLAS and MINIMAX-WP with target prices of HKD400 and HKD700, respectively. Both were rated as Overweight. In the chip sector, SMIC (00981.HK) edged up 0.5%, while HUA HONG SEMI (01347.HK) dipped 1.5%. INNOSCIENCE (02577.HK) and ILUVATAR COREX (09903.HK) ticked up 7.5% and 4.6%. Drug makers gained traction, with CSPC PHARMA (01093.HK), INNOVENT BIO (01801.HK), and WUXI BIO (02269.HK) advancing 5.3-6.3%. SINO BIOPHARM (01177.HK), WUXI APPTEC (02359.HK), and AKESO (09926.HK) spiked 4.1-4.5%. AAStocks Financial News |
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