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<H Shrs>HSI Closes Up 319 Pts as BABA-W/ XIAOMI-W Elevate; AI Stocks Speculated
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The HSI closed up 319 points or 1.2% at 26,095. The HSCEI added 92 points or 1.1% to close at 8,774. The HSTECH elevated 105 points or 2.2% to close at 4,976. Due to China's May Day holiday, Southbound Trading of Stock Connects was suspended, with total market turnover for the day reaching $176.979 billion. Major blue chips ascended. HSBC HOLDINGS (00005.HK) jumped up 2.3%, while AIA (01299.HK) and HKEX (00388.HK) lifted 1.1% and 0.6%. TENCENT (00700.HK) climbed 1.1%, as data indicated that weekly usage of large AI models in China surpassed that of the US again, with Tencent Hy3 preview (free) ranking first in large model usage. BABA-W (09988.HK) leaped 4.5%, while MEITUAN-W (03690.HK) ballooned 1.4%. BYD COMPANY (01211.HK) picked up 0.5% as the company’s April NEV sales rose 7% MoM. XIAOMI-W (01810.HK) swelled 6.8% to close at $30.98 as BofA Securities projected that its 1Q26 smartphone gross margin may exceed expectations, making it the largest gainer among blue chips. In addition, SMIC (00981.HK) ascended 1.8%, while HUA HONG SEMI (01347.HK) mushroomed 6%. ILUVATAR COREX (09903.HK) snowballed 20%. AI stocks MINIMAX-W (00100.HK) and MANYCORE TECH (00068.HK) rocketed 13% and 19%, while KNOWLEDGE ATLAS (02513.HK) surged 10%. Auto-translated by AI AASTOCKS Financial News |
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