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<H Shrs>HSI Grows 197 pts at Midday; BABA-W, BIDU-SW, JD-SW Spearhead; LAOPU GOLD Rallies 6%
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The HSI concluded the midday up 197 points or 0.8% at 26,069. The HSCEI rose 75 points or 0.9% to 8,747. The HSTECH climbed 91 points or 1.9% to 4,943. The total half-day turnover for the market reached HKD134.987 billion. Tech stocks rallied across the board. BABA-W (09988.HK) leaped 4%. Alibaba Cloud will adjust pricing for multiple DDoS protection products starting mid-July, and the Qwen AI Glasses S1 is now available for spot sale. BIDU-SW (09888.HK) advanced 4.1%. JD-SW (09618.HK) surged 5.5%, as JPMorgan gave it an Overweight rating and a target price of HKD148, citing that its earnings upside would be significant in 2026-27, should losses from new businesses narrow more than expected. JD INDUSTRIALS (07618.HK) also soared 7.7%. TENCENT (00700.HK) and MEITUAN-W (03690.HK) added 1.6%. KUAISHOU-W (01024.HK) and NTES-S (09999.HK) grew 3.1% and 2.5%. ALI HEALTH (00241.HK), MEITU (01357.HK), JD HEALTH (06618.HK), TME-SW (01698.HK), and BILIBILI-W (09626.HK) ballooned 3.3-4.2%. AI stocks KNOWLEDGE ATLAS (02513.HK) and MINIMAX-W (00100.HK) retreated 5.4% and 4.3%. UNISOUND (09678.HK) even plunged 6.7%. Chipmakers SMIC (00981.HK) and HUA HONG SEMI (01347.HK) gained 3.2% and 1.5%. BIREN TECH (06082.HK) and ILUVATAR COREX (09903.HK) shot up 8.5% and 11.8%. Carmaker BYD COMPANY (01211.HK) slipped 0.4%. Its peer XIAOMI-W (01810.HK) edged up 0.1%. LI AUTO-W (02015.HK), LEAPMOTOR (09863.HK), CHERY AUTO (09973.HK), and GWMOTOR (02333.HK) receded more than 2%. Metal stocks CHINAGOLDINTL (02099.HK) and JIANGXI COPPER (00358.HK) swelled over 3%. Gold jewelry retailer LAOPU GOLD (06181.HK) skyrocketed 6%. Auto-translated by AI AASTOCKS Financial News |
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