Back    Zoom +    Zoom -
<H Shrs>HSI Closes Rallying 366 pts, as Techs, CN Homebuilders & Brokers Rise; SENSETIME Skyrockets 43%
Recommend
132
Positive
229
Negative
130
Hong Kong stocks rallied significantly, led by technology stocks. HSI once hiked 473 points to a 5-month high of 17,758 in the afternoon, and closed lifting 366 points or 2.1% at 17,651. HSCEI escalated 149 points or 2.4% to close at 6,269. HSTECH surged 163 points or 4.6% to close at 3,718. Total turnover for the whole day was $157.242 billion, the highest in the past 9 months.

For tech stocks, BABA-SW (09988.HK), TENCENT (00700.HK) and BIDU-SW (09888.HK) elevated 2.7% to 3.1%. MEITUAN-W (03690.HK), XIAOMI-W (01810.HK) and BILIBILI-W (09626.HK) inclined 3.7% to 4.6%, while JD-SW (09618.HK) and KUAISHOU-W (01024.HK) escalated 5.8% and 7%.

Related NewsRatings, TPs on BIDU-SW (09888.HK) (Table)
SENSETIME-W (00020.HK) skyrocketed 43.4%. Brokers commented that SENSETIME's "SenseNova 5.0" foundation model outperformed GPT-4 Turbo in the Chinese context. ZTE (00763.HK) mounted 6.3% after its 1Q net profit inclined 3.7%.

NEW ORIENTAL-S (09901.HK) and KINGSOFT CLOUD (03896.HK) soared 10.4% and 9.9% respectively. KINGDEE INT'L (00268.HK), MEITU (01357.HK), GDS-SW (09698.HK), ALI HEALTH (00241.HK), SUNNY OPTICAL (02382.HK), JD HEALTH (06618.HK), EAST BUY (01797.HK), and ASMPT (00522.HK) surged 6.1% to 8%.

Car stocks also performed well, with BYD COMPANY (01211.HK) and LI AUTO-W (02015.HK) escalating 4.4% and 5.8%, LEAPMOTOR (09863.HK) and XPENG-W (09868.HK) spiking more than 8%, and NIO-SW (09866.HK) rallying 7.2%. Auto agent ZHONGSHENG HLDG (00881.HK) hiked 6.5%.

Related NewsUBS: Zeekr Spinoff Only Relatively Limited Dilution to GEELY AUTO’s Stake, Good for Unlocking Valuation
Domestic property stocks remained sought after. LONGFOR GROUP (00960.HK), CIFI HOLD GP (00884.HK), GREENTOWN CHINA (03900.HK), KWG GROUP (01813.HK) and SUNAC (01918.HK) rocketed 12.2% to 15.4%. YUEXIU PROPERTY (00123.HK), CHINA OVERSEAS (00688.HK), SINO-OCEAN GP (03377.HK) and SEAZEN (01030.HK) soared 8.2% to 9.6%, while CHINA RES LAND (01109.HK) ascended 6.7%.

CNOOC (00883.HK)'s 1Q net profit grew 24%, and its shares lifted 3.6%. CHINA OILFIELD (02883.HK)'s 1Q net profit hiked 57%, and its shares inclined 0.9%. PETROCHINA (00857.HK) rose 2.4%.

Brokerage stocks CICC (03908.HK) and CGS (06881.HK) speculated higher by 10.5% and 9.6%, while GF SEC (01776.HK), CITIC SEC (06030.HK), CSC (06066.HK) and HTSC (06886.HK) mounted 6.4% to 7.6%.

Related NewsCITIC Securities: AIA (01299.HK) Actively Manages Capital to Defend Shareholders' Interests
FUYAO GLASS (03606.HK) earned 52% more in 1Q, and its shares rocketed 11.6%.

AAStocks Financial News