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<H Shrs>HSI Closes Soaring 900 Pts; HSTECH Balloons 6.5%; BABA-W Leaps 14%+
Recommend 5 Positive 15 Negative 7 |
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The Hong Kong stock market thrived on the back of tech stocks. The HSI ended the day at its daily high of 23,477, up 900 points or 4%, marking a new three-year record. The HSCEI hiked 344 points or 4.1% to close at 8,666. The HSTECH ballooned 359 points or 6.5%, closing at 5,859. The total market turnover for the day amounted to $393.598 billion. BABA-W (09988.HK)'s quarterly customer management revenue growth beat expectations, elevating its stock price by 14.6% for the day to $138.5. BILIBILI-W (09626.HK) advanced 16.5% to $180.3 as it turned a quarterly loss into a profit. NTES-S (09999.HK) reported quarterly revenue below expectations, yet its stock price added 1.2%. NETEASE MUSIC (09899.HK) was hyped up by 18.1% as its 2024 net profit leaped by 1.13 times YoY. Among other tech stocks, Tencent Cloud's TI platform supports fine-tuning and inference for the entire DeepSeek model series. TENCENT (00700.HK) swelled 6.2% to $517. MEITUAN-W (03690.HK) rose 3.8% along with the market despite reports saying that Chinese regulators have extended its antitrust "rectification period" by three years. XIAOMI-W (01810.HK) inclined 5.2% to $51.7. It also set a new intraday high of $51.95. BIDU-SW (09888.HK) and JD-SW (09618.HK) rallied 4.7% and 5.1%. KUAISHOU-W (01024.HK) spiked 7.4%. The DeepSeek concept stocks continued to boom. GDS-SW (09698.HK) and KINGSOFT CLOUD (03896.HK) rocketed 11% and 12%. SENSETIME-W (00020.HK), KINGDEE INT'L (00268.HK), and CHINASOFT INT'L (00354.HK) mushroomed 8.5-9.6%. Chip stock SMIC (00981.HK) ascended 7.9% to a new high of $54.2. HUA HONG SEMI (01347.HK) shot up 9.2%. Car makers XPENG-W (09868.HK) and LI AUTO-W (02015.HK) jumped up 5.5% and 7.4%, while BYD COMPANY (01211.HK) escalated 4.6% to $392.4. BYD COMPANY also reached a new intraday high of $398.6. AAStocks Financial News |
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