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<H Shrs>HSI Fades 142 pts at Half-day; SMIC, HUA HONG SEMI Each Up 8%+; HESAI-W Slumps 10% Post-results
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The HSI settled at 25,655 at midday, down 142 pts or 0.55%. Half-day turnover amounted to HKD140.719 billion. The HSCEI closed at 8,604 at midday, down 34 pts or 0.4%. The HSTECH closed at 4,865, up 7 pts or 0.16%.

Market sentiment was buoyed by YMTC initiating its A-share IPO process. SMIC (00981.HK) mushroomed 8.61% to HKD74.4, the best-performing blue chip at midday. HUA HONG SEMI (01347.HK) swelled 8.66% to HKD126.7. Memory chip stock GIGADEVICE (03986.HK) elevated 14.29% to HKD688.

Among active leading tech names, TENCENT (00700.HK) edged down 0.57%; BIDU-SW (09888.HK) fell 1.24%; JD-SW (09618.HK) bucked the trend, closing at HKD127.8 at midday, up 1.51%. BABA-W (09988.HK) gained 0.3%, while XIAOMI-W (01810.HK) dropped 1.89%.

On individual stocks, BILIBILI-W (09626.HK) closed at HKD149.1 at midday, down 4.48%, as its 1Q game revenue recovery was said to be slower, prompting Daiwa and Goldman Sachs to cut their TPs. EVERG SERVICES (06666.HK) tumbled 6.25% to HKD1.35 after the exclusivity period for potential transaction negotiations expired without extension. HESAI-W (02525.HK), which announced 1Q results after market close yesterday, reported HKD156.1 at midday, plunging 10.39%. Citi lowered its TP.
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