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<H Shrs>HSI Gains 359 pts at Midday; BIDU-SW, CATL Pushes HSTECH Up by 3%
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The HSI settled the midday up 359 points or 1.4% at 26,306. The HSCEI grew 151 points or 1.7% to 8,869. The HSTECH climbed 146 points or 3% to 5,058. The total half-day turnover for the market reached HKD129.776 billion. BABA-W (09988.HK) rose 4.6%, with a turnover of HKD7.743 billion. Alibaba Cloud will raise prices for certain MU model unit services by 2-7% from mid-May. BIDU-SW (09888.HK) soared 8.4% to HKD124.1, with a turnover of HKD1.24 billion. Jefferies expects its 1Q26 cloud revenue to surge 40% YoY, far above market expectations. Among other tech stocks, TENCENT (00700.HK), MEITUAN-W (03690.HK), KUAISHOU-W (01024.HK), and JD-SW (09618.HK) rallied 2.3-2.8%. NTES-S (09999.HK) and NEW ORIENTAL-S (09901.HK) ballooned 4.6% and 5.4%. MEITU (01357.HK) and KINGDEE INT'L (00268.HK) advanced 5.6% and 6.7%. Chip stocks SMIC (00981.HK) and HUA HONG SEMI (01347.HK) edged up 0.3% and 0.6%. BIREN TECH (06082.HK) and ILUVATAR COREX (09903.HK) skyrocketed 21.4% and 14.7%. AI stocks KNOWLEDGE ATLAS (02513.HK) and MINIMAX-W (00100.HK) shot up 4.3% and 5.5%. Battery maker CATL (03750.HK) ticked up 10.3% to HKD723. Its 1Q26 net profit hiked 49%, beating market forecasts. A number of brokers raised their target prices for the company. Carmaker BYD COMPANY (01211.HK) leaped 4.6%. Its peers LEAPMOTOR (09863.HK), XIAOMI-W (01810.HK), and XPENG-W (09868.HK) gained over 2%. Auto-translated by AI AASTOCKS Financial News |
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