Mainland China's exports in last December mounted 6.6% YoY, and imports ascended 5.7%, both topping forecasts. Hong Kong’s stock market elevated, propelled by BABA-W (09988.HK) +1.600 (+0.980%) Short selling $1.17B; Ratio 11.929% . The HSI opened 123 points higher; with wilder gains, it leaped 249 points to peak at 27,097. The Shanghai/ Shenzhen/ Beijing Stock Exchanges announced an increase in margin requirements at noon. The HSI briefly lost 68 points to 26,780 in the afternoon, but closed up 151 points or 0.6% at 26,999. The HSCEI added 30 points or 0.3% to 9,315. The HSTECH hiked 38 points or 0.7% to 5,908. Total market turnover advanced to HK$340.393 billion.Alibaba's Qianwen purportedly excelled 100 million MAUs, and a blockbuster product upgrade was rumored to be released tomorrow. BABA-W surged 5.7% to close at HK$169, with a turnover of HK$40.8 billion. ALI HEALTH (00241.HK) -0.070 (-1.028%) Short selling $82.52M; Ratio 11.755% soared 19% after the company recently exclusively launched the world's first topical innovative drug for infantile hemangiomas. KUAISHOU-W (01024.HK) +0.300 (+0.381%) Short selling $449.99M; Ratio 18.599% proposed issuing USD and RMB senior notes and disclosed that Kuaishou Kling AI's revenue exceeded US$20 million in December last year, with its stock price leaping 4.5%. Q TECH (01478.HK) +0.070 (+0.716%) Short selling $16.89M; Ratio 13.280% expected its consolidated profit to swell by up to 4.5 times last year, with its stock price rocketing 14.1%.Related NewsGDP Growth Rate QoQ for Q4 in China is 1.2%, higher than the previous value of 1.1%. The forecast was 1%.Other technology stocks saw TENCENT (00700.HK) -5.000 (-0.830%) Short selling $489.08M; Ratio 3.004% and BIDU-SW (09888.HK) +6.300 (+4.099%) Short selling $1.11B; Ratio 28.041% rise 0.9% and 1.9% respectively, while MEITUAN-W (03690.HK) -0.300 (-0.308%) Short selling $814.21M; Ratio 24.398% slid 3.2%, and JD-SW (09618.HK) +1.100 (+0.975%) Short selling $153.25M; Ratio 16.348% and NTES-S (09999.HK) +1.000 (+0.481%) Short selling $219.03M; Ratio 20.188% dipped more than 1%. Separately, PA GOODDOCTOR (01833.HK) -0.700 (-4.313%) Short selling $36.70M; Ratio 14.781% and BILIBILI-W (09626.HK) +8.200 (+3.296%) Short selling $237.47M; Ratio 22.500% spiked 5.1%, while MEITU (01357.HK) -0.080 (-0.956%) Short selling $58.33M; Ratio 17.621% and JD HEALTH (06618.HK) -1.950 (-2.919%) Short selling $69.01M; Ratio 17.439% ballooned over 3%.Travel platform TRIP.COM-S (09961.HK) -1.000 (-0.207%) Short selling $107.11M; Ratio 6.051% dived 6.5% after the company was placed under investigation by the State Administration for Market Regulation.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-01-22 16:25.)