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<H Shrs>HSI Closes Up 156 Pts; Alibaba, Baidu Up 2%+; MiniMax, Zhipu Surge 20%
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Hong Kong stocks elevated on the back of AI concepts, with the HSI opening 54 points higher. The index briefly fell 76 points to 25,791 in the morning session, and then leaped 249 points to 26,117 in the afternoon. It eventually closed up 156 points or 0.6% at 26,025. The HSCEI added 8 points or 0.1% to 8,835. The HSTECH inched up less than 1 point to 5,108. The total market turnover for the day was HKD240.374 billion. BABA-W (09988.HK) and BIDU-SW (09888.HK) announced price hikes for AI computing power and storage products, with their stock prices mounting 2.2% and 2.3%, respectively. AI stock MINIMAX-WP (00100.HK) leapfrogged 19.8% to close at HKD1,238 after reaching a cooperation agreement with Tencent Cloud. Its peer KNOWLEDGE ATLAS (02513.HK) proliferated 19.5%. Cloud service provider GDS-SW (09698.HK) turned into a profit of RMB950 million last year, with its stock price ballooning 15.2%. Its peer KINGSOFT CLOUD (03896.HK) mushroomed 18.2%. Tencent's Q Claw released a new version, with a comprehensive upgrade to WeChat access. TENCENT (00700.HK) announced its quarterly results after the market closed, with its stock price rising 0.1% to close at HKD550.5. Tencent Music (TME.US) (01698.HK) provided a net profit margin guidance that fell short of expectations, with its US ADRs plummeting nearly 25% and its H shares tumbling 22.7%. Daiwa noted that Tencent Music's management was cautious when discussing the impact of AI music from ByteDance's Soda Music. Its fellow NETEASE MUSIC (09899.HK) nosedived 10%. KINGDEE INT'L (00268.HK) turned into a profit of RMB92.91 million for the year, with its stock price soaring 5.7%. WEIMOB INC (02013.HK) achieved its first adjusted profit since 2021, with its stock price swelling 3.5%. CHINA LIT (00772.HK) saw its annual loss widen to RMB776 million, with its stock price sagging 3.4%. AASTOCKS Financial News Website: www.aastocks.com |
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