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HSI Once Swells 750+ Pts After Midday to Break Ytd's High; ALI HEALTH Rockets 20%+; President Xi Said to Meet Tech Leaders Next Mon
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The market was abuzz with rumors after midday today (14th) that Chinese President Xi Jinping will host a forum next Monday (17th) to boost confidence among private enterprises. Jack Ma, co-founder of BABA-W (09988.HK), Pony Ma, CEO of TENCENT (00700.HK), and Lei Jun, founder of XIAOMI-W (01810.HK), along with executives from Deepseek and Huawei, are expected to attend the forum. Shored up by heavyweight tech stocks, the HSI one soared 757 points after midday to reach 22,571, surpassing the previous day's high and hitting an over four-month high. It last printed at 22,534, rebounding 719 points or nearly 3.3%, with a turnover of $309.2 billion. The HSTECH climbed to a peak of 5,510, setting a nearly three-year high. It last printed at 5,451, rebounding 216 points or 4.1%. ALI HEALTH (00241.HK) ascended to an over four-month high of $5.85 with a spike of 28% at one point. It last traded at $5.56, up 21.66%, making it the best-performing blue chip with a turnover of $5.05 billion, which already exceeded the total turnover of the previous day. Its peer JD HEALTH (06618.HK) also mushroomed 6.5%. WuXi-related stocks thrived. WUXI BIO (02269.HK) last traded at $23.05, up 10.55%, on a turnover of $2.373 billion. WUXI APPTEC (02359.HK) last printed at $61, up 7.58%, on a turnover of $666 million. CSPC PHARMA (01093.HK) and SINO BIOPHARM (01177.HK) also grew 4.6-5.3%. HANSOH PHARMA (03692.HK) lagged with a mild increase of 0.9%. Heavyweight tech stocks buoyed the market upward. BABA-W was last at $123.5, up 5.83%, on a turnover of $28.455 billion. MEITUAN-W (03690.HK) was last at $168.9, up 5.76%, on a turnover of $10.728 billion. TENCENT was last at $469.6, up 6.24%, on a turnover of $30.154 billion. JD-SW (09618.HK) was last at $162.1, up 7%, on a turnover of $3.028 billion. KUAISHOU-W (01024.HK) was last at $52.95, up 6.54%, on a turnover of $6.559 billion. BIDU-SW (09888.HK) was last at $95.9, up 2.02%, on a turnover of $2.097 billion. The smart driving concept continued to be hot. BYD COMPANY (01211.HK) refreshed its historical high at $366.4. It last printed at $362.8, up 7.02%, on a turnover of $5.54 billion. Its same series BYD ELECTRONIC (00285.HK) also rebounded 4.7%. XIAOMI-W notched an all-time high of $44.9 intraday. It last traded at $44.6, up 7.08%, on a turnover of $13.548 billion. The three major Chinese telecoms delivered booming trends after integrating with DeepSeek. CHINA UNICOM (00762.HK) reached an over five-year high of $8.39. It last traded at $8.33, up 6.79%, on a turnover of $1.319 billion. CHINA TELECOM (00728.HK) ballooned 5.4%, and CHINA MOBILE (00941.HK) inclined 2.4%. Heavyweight old economy stocks also performed robustly. AIA (01299.HK) last traded at $56.3, continuing to rise 3.3%, on a turnover of $2.815 billion. HKEX (00388.HK) last printed at $338.4, up 3.87%, on a turnover of $5.179 billion. ICBC (01398.HK) and CCB (00939.HK) advanced 1.1%. However, HSBC HOLDINGS (00005.HK), which will announce its results next week, edged down 0.5%. AAStocks Financial News |
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