ETFs Lead Midday Gains; HSI Inches Up as Kuaishou Slumps, JD-SW Bets Big on Robots

HK:09399.HK:XI2CSOPMSTR-U
HK:07399.HK:XI2CSOPMSTR
HK:07311.HK:XI2CSOPCOIN
HK:09311.HK:XI2CSOPCOIN-U
HK:09766.HK:XL2CSOPTSLA-U
Hong Kong’s midday ETF leaderboard saw XI2CSOPMSTR-U soar 8.5% to US$2.656, followed by XI2CSOPMSTR up 7.2% at HK$20.68. XI2CSOPCOIN jumped 5.0% to HK$11.15, XI2CSOPCOIN-U rose 4.9% to US$1.418, and XL2CSOPTSLA-U climbed 3.7% to US$14.08.

HK:3115.HK:Hangseng Index
HK:02318.HK:PING AN
HK:09988.HK:Alibaba Group
HK:01810.HK:Xiaomi
HK:03690.HK:Meituan
The Hang Seng Index edged up 22 points to 24,929 at midday, while HSTI fell 21 points to 5,438 and HSCEI gained 15 points to 8,903. Heavyweight movers included PING AN (+1.6%), Xiaomi (+0.8%), while Alibaba (-1.4%) and Meituan (-0.7%) slipped.

HK:01811.HK:CGN NEW ENERGY
CGN NEW ENERGY reported July power output of 1,731.3 GWh, down 1.7% year-on-year. Wind projects dropped 8.1%, but solar surged 60.3%.

HK:09618.HK:JD-SW
JD-SW’s sales of embodied intelligent robots during the 618 event rocketed 17x. The company has invested in six embodied intelligence-related firms in three months and co-launched an “Intelligent Robot Industry Acceleration Plan” with Unitree Robotics at the World Robot Conference.

HK:01022.HK:361 DEGREES
361 DEGREES posted interim net profit of RMB858M, up 8.6%, declaring a dividend of HK20.4 cents.

HK:01024.HK:Kuaishou Technology
KUAISHOU-W reportedly plans to launch self-operated e-commerce with a factory-direct shipping model. Shares fell over 6% in midday trade.

HK:0522.HK:ASMPT
Citi raised its target price for ASMPT to HK$85, citing potential gross profit margin upside from plant closure in 2026.

HK:2282.HK:MGM China
HK:0027.HK:Galaxy Entertainment
HSBC Research estimates Macau’s August GGR at ~MOP7B for the first 10 days, favoring MGM China and Galaxy Entertainment.

HK:0013.HK:Hutchmed
CMBI cut HUTCHMED’s target price to HK$31.39, warning of domestic sales pressure.

HK:0293.HK:Cathay Pacific Airways
Cathay Pacific has reportedly offered voluntary unpaid leave for the first time in two consecutive quarters since COVID-19.

HK:0390.HK:China Railway
Morgan Stanley downgraded China Railway to “Equalweight” and cut its target price to HK$4.6.

Broker Calls Shake Up Hong Kong Market: Tencent Outlook Rises, Chipmakers See Mixed Views, Tingyi Under Fire

HK:0700.HK:Tencent Holdings
Brokers forecast Tencent’s Q2 adjusted net profit to rise 7%, with attention on gaming, advertising, and share buyback guidance. Multiple broker rating updates released.

HK:0268.HK:Kingdee International Software
CLSA said Kingdee International’s 1H25 revenue met expectations, but net loss exceeded forecasts. Citi noted results were largely in line, though subscription ARR growth slightly missed.

HK:0013.HK:Hutchmed
Daiwa cut Hutchmed’s target price to HK$30 on lower sales forecasts, while BOCOMI reduced its TP to HK$37.6 but maintained a Buy rating.

HK:1347.HK:Hua Hong Semiconductor
CMBI raised Hua Hong Semiconductor’s target price to HK$48 but downgraded to Hold, while BOCOMI lifted its TP to HK$49 with a Buy rating.

HK:0981.HK:SMIC
BOCOMI slightly increased SMIC’s target price to HK$47, expecting Q3 revenue growth. JPMorgan set its TP at HK$36, warning capex will stay high for 2–3 years.

HK:0322.HK:Tingyi
JPMorgan rated Tingyi Overweight as interim results matched expectations. Citi retained Sell with TP HK$10.1, citing continued market share loss. CLSA predicted revenue growth guidance could be cut to low/mid-single digits. Morgan Stanley set TP at HK$12.6, results in line. Daiwa rated Underperform as core profit met forecasts.

HK:1475.HK:Q Technology
Citi sharply raised Q Technology’s target price to HK$17.9 and reiterated a Buy rating.

HK:0035.HK:Far East Consortium International
Trading in Far East Consortium International shares was halted from the morning session.

Geely Gets Buy Call, Fosun Pharma Soars, Tesla Launches 830km Model 3 — Brokers & Policy Moves Shake Markets

HK:0175.HK:Geely Automobile Holdings
Huatai Securities rated Geely Auto a Buy with a target price of HK$26.9, citing confidence in its new car model cycle.

HK:0551.HK:Yue Yuen Industrial Holdings
Citi cut Yue Yuen Industrial’s target price to HK$16.3, shifting preference to Stella Holdings.

HK:1549.HK:AB&B Bio-Tech-B
AB&B Bio-Tech-B rose over 13% on its second trading day since debut.

HK:0268.HK:Kingdee International Software
Shares of Kingdee International fell around 3% after Citi noted its cloud subscription ARR growth slightly missed expectations.

US:TSLA:Tesla
Tesla officially launched a Model 3 variant with an 830-kilometer driving range.

HK:300750.HK:CATL
Morgan Stanley said the suspension of CATL’s Yichun lithium mine may push lithium prices higher, boosting inventory value.

HK:0118.HK:CGN Power
Macquarie upgraded CGN Power to Outperform and raised its target price by 45% to HK$3.7.

HK:2196.HK:Fosun Pharma
Fosun Pharma surged over 7% on news its overseas licensing deal for a small-molecule oral DPP-1 inhibitor could total USD645M in value.

HK:9888.HK:Baidu-SW
Goldman Sachs lowered revenue and net profit forecasts for Baidu-SW and trimmed its target price to US$91.

HK:1128.HK:Wynn Macau
Huatai Securities downgraded Wynn Macau to Overweight and slightly cut its target price to HK$6.7.

HK:9988.HK:Alibaba Group
Alibaba’s Taobao scrapped its RMB99 free shipping threshold, offering limited-time free single-item shipping to Hong Kong.

HK:0005.HK:HSBC Holdings
HSBC Holdings repurchased about 3.29 million shares yesterday, spending HK$328 million.

US:NVDA:Nvidia
US:AMD:Advanced Micro Devices
The U.S. government will reportedly take 15% of revenue from Nvidia and AMD for AI chip sales in China.

 Trump Moves Shake Markets: Gold Falls, Tariff Pause Extended, Tesla Defies Dow Drop

HK:0769.HK:China Rare Earth
China Rare Earth clarified it has never been involved in any collaboration on rare earth RMB stablecoins.

US:GC:Gold Futures
Gold futures fell over 2% after Donald Trump pledged there would be no tariffs on gold.

US:INTC:Intel
Trump said he had a “very interesting meeting” with Intel’s CEO.

US:DGT:Dow Jones Industrial Average
The Dow Jones Industrial Average closed down 200 points, while Tesla bucked the trend with a 3% rise.

US:TSLA:Tesla
Tesla gained about 3% despite a broad market decline.

US:NVDA:Nvidia
Trump expressed willingness to approve Nvidia selling simplified Blackwell chips to China.

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