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<H Shrs>HSI Closes Up 131 Pts on Settlement Date as BIDU, BABA Gain; Chip Stocks Slip
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The HSI picked up 131 points or 0.7% to close at 20,197. The HSCEI added 70 points or 1% to close at 7,382. The HSTECH lifted 29 points or 0.6% to 4,687. Total market turnover for the day amounted to $147.332 billion. Chinese AI foundation model, DeepSeek, hit No. 1 on the Apple App Store's Top Free Apps Chart in China and the US. AI concept stocks were popular. BIDU-SW (09888.HK), KUAISHOU-W (01024.HK) and BABA-W (09988.HK) mounted 3-3.9% each, while KINGSOFT CLOUD (03896.HK) and MEITU (01357.HK) surged 11.2% and 16.3%. GDS-SW (09698.HK) rallied 8.9%, while SENSETIME-W (00020.HK) and KINGSOFT (03888.HK) elevated 7.2% and 4.4%. For other techs, TENCENT (00700.HK) and JD-SW (09618.HK) jumped nearly 1.3% and 1%, while BILIBILI-W (09626.HK) inched up 0.7%. TME-SW (01698.HK) and NETEASE MUSIC (09899.HK) swelled 6.4% and 4.3%, while chip stocks HUA HONG SEMI (01347.HK) and SMIC (00981.HK) eroded 6.6% and 7.6%. Telecommunications infrastructure-related stocks ZTE (00763.HK) and YOFC (06869.HK) tumbled 8.8% and 16.6%. Nearly 8 million people applied for China's new handset subsidy in about a week. Handset-related stocks SUNNY OPTICAL (02382.HK) and Q TECH (01478.HK) shed over 3%, while COWELL (01415.HK) slumped 5.3%. AAStocks Financial News |
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