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HK Stocks Extend Gains to Over 500 pts in PM; HSTECH Up Over 4%; TENCENT (00700.HK), MEITUAN-W (03690.HK) Surge 8%-10%; Resource Stocks Rally
US President Donald Trump said he expects to reach an agreement with Iran within a week. US stocks three major indices hit record highs overnight (1st), with the Nasdaq and S&P 50...
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HK Stocks Extend Gains to Over 500 pts in PM; HSTECH Up Over 4%; TENCENT (00700.HK), MEITUAN-W (03690.HK) Surge 8%-10%; Resource Stocks Rally
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US President Donald Trump said he expects to reach an agreement with Iran within a week. US stocks three major indices hit record highs overnight (1st), with the Nasdaq and S&P 500 rising for eight consecutive trading days. The HSI opened slightly lower by 3 points this morning (2nd) before reversing course, gaining 370 points by midday. In the afternoon session, it once surged 510 points to a peak of 25,908, last reported at 25,900, up 502 points or nearly 2%, with turnover of HKD274.766 billion. The HSTECH last stood at 5,171, up 206 points or nearly 4.2%.

Heavyweight tech stocks lifted the broader market. TENCENT (00700.HK)  +45.600 (+10.459%)    Short selling $5.87B; Ratio 12.276%   rebounded strongly, once surging 9.9% to a peak of HKD479.4, last at HKD478.6, up 9.77%, making it the best-performing blue chip, with turnover of HKD32.306 billion. Market sources said the company is close to launching a WeChat AI assistant. MEITUAN-W (03690.HK)  +7.250 (+9.265%)    Short selling $2.07B; Ratio 18.002%   , after its results, saw TP upgrades from Daiwa and Citi. It was last at HKD84.9, up 8.5%, with turnover of HKD7.946 billion. BABA-W (09988.HK)  +8.100 (+6.596%)    Short selling $2.65B; Ratio 16.223%   rose 5.9% after its Qwen unit released the Qwen3.7-Plus multimodal model. JD-SW (09618.HK)  +7.700 (+6.851%)    Short selling $842.81M; Ratio 35.151%   gained 5.4%, as order users in the first 52 hours of its "JD 618" campaign hit a record high. SMIC (00981.HK)  +2.500 (+3.147%)    Short selling $1.12B; Ratio 13.196%   and KUAISHOU-W (01024.HK)  +2.440 (+5.243%)    Short selling $1.31B; Ratio 31.504%   also advanced 3.7% to 4.9%.

BYD COMPANY (01211.HK)  +6.000 (+6.612%)    Short selling $900.59M; Ratio 21.043%   was at HKD96.65, up 6.5%, with turnover of HKD2.999 billion. Its May overseas sales surged 80.7% YoY to a record high. Peer LI AUTO-W (02015.HK)  +3.350 (+5.722%)    Short selling $568.79M; Ratio 35.113%   also reversed earlier losses to rise more than 3%.

Resource stocks performed well, with CMOC (03993.HK)  +1.010 (+5.459%)    Short selling $240.64M; Ratio 23.000%   and ZIJIN MINING (02899.HK)  +1.680 (+5.128%)    Short selling $404.20M; Ratio 22.097%   climbing 5.6% to 6.4%, CHINAHONGQIAO (01378.HK)  +0.420 (+1.471%)    Short selling $482.19M; Ratio 37.170%   up 2.6%, and CHALCO (02600.HK)  +0.350 (+3.217%)    Short selling $127.13M; Ratio 14.616%   rising over 4%. (da/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-06-02 16:25.)

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