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<H Shrs>HSI Closes Up 75 Pts as BABA-W/ JD-SW/ BIDU-SW Gain; Pharma Prosper
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The HSI ticked up 75 points or 0.3% to close at 25,947. The HSCEI lifted 46 points or 0.5% to close at 8,718. The HSTECH climbed 59 points or 1.2% to close at 4,911. Total market turnover for the day amounted to $245.588 billion. Techs generally inclined. 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. BABA-W (09988.HK) mounted 3.3%, while JD-SW (09618.HK) leaped 4.6% as JPMorgan gave it an Overweight rating and a target price of $148, citing that its earnings upside would be significant in 2026-27, should losses from new businesses narrow more than expected. Its same series JD INDUSTRIALS (07618.HK) advanced 5%. BIDU-SW (09888.HK) ballooned 3.1%, while TENCENT (00700.HK), MEITUAN-W (03690.HK) and NTES-S (09999.HK) ascended 1.2-1.4%. KUAISHOU-W (01024.HK) and BILIBILI-W (09626.HK) jumped up 2.3% and 2.2%, while MEITU (01357.HK), JD HEALTH (06618.HK) and TME-SW (01698.HK) mushroomed 3.2-4.7%. Chip stocks SMIC (00981.HK) and HUA HONG SEMI (01347.HK) elevated 2.3% and 0.2%, while BIREN TECH (06082.HK) and ILUVATAR COREX (09903.HK) swelled 6.6% and 7.7%. On the other hand, AI stocks KNOWLEDGE ATLAS (02513.HK) and MINIMAX-W (00100.HK) plunged 8.5% and 10.9%, while UNISOUND (09678.HK) sank 11.2%. Fiber optic stock YOFC (06869.HK) cratered 5%. China announced measures to improve the drug pricing formation mechanism to optimize the initial pricing mechanism for innovative drugs. Pharma inclined. SBP GROUP (01177.HK), 3SBIO (01530.HK), SKB BIO (06990.HK), INNOVENT BIO (01801.HK), AKESO (09926.HK) and JUNSHI BIO (01877.HK) escalated 5.8-7%, while DUALITYBIO-B (09606.HK) and REMEGEN (09995.HK) surged 10.8% and 9.1%. Drug discovery solutions provider XTALPI (02228.HK) shot up 4.6%. Auto-translated by AI AASTOCKS Financial News |
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