🚀 Hong Kong Lunchtime Surge: AI Leaders Pop, ETFs Rip, and Alibaba’s Amap Sets a New Record

HK:07747.HK:XL2CSOPSMSN
XL2CSOPSMSN jumped 16.7% to HK$20.24, topping the midday ETF gainers list.

HK:07799.HK:XL2CSOPMSTR
XL2CSOPMSTR rose 11.6% to HK$64.80 among the session’s strongest leveraged products.

HK:07711.HK:XL2CSOPCOIN
XL2CSOPCOIN climbed 11.3% to HK$180.40 at midday.

HK:09711.HK:XL2CSOPCOIN-U
XL2CSOPCOIN-U advanced 10.6% to US$23.04.

HK:09799.HK:XL2CSOPMSTR-U
XL2CSOPMSTR-U gained 10.0% to US$8.215.

HongKong:3115.HK:Hangseng Index
HSI jumped 390 points (+1.5%) to 27,245 at midday as AI concept stocks rallied; HSCEI +1.6% to 9,711 and HSTECH +2.7% to 6,637.

HK:00981.HK:SMIC
SMIC rallied over 9% to a new high amid broad strength in AI-linked names.

HK:01024.HK:Kuaishou
Kuaishou hit a new high as tech heavyweights drove HSTECH higher.

HK:09988.HK:Alibaba Group
Alibaba rose over 3% to a new high; separately, its Amap app set a record with 360M+ daily active users on Oct 1.

US:BABA:Alibaba Group
CLSA raised Alibaba’s target price to US$200 with an Outperform rating.

HK:00700.HK:Tencent
Tencent notched a new high at midday, adding 2.3% to HK$678.50.

HK:09888.HK:Baidu
Baidu-SW traded higher to fresh highs alongside sector peers.

HK:01810.HK:Xiaomi
Xiaomi gained 2.2% to HK$55.20; Citi said EV orders remain high and expects 3Q average selling price per vehicle to stabilise QoQ.

US:C:Citigroup
Citi said Macau Sep GGR was MOP18.289B (in line), and projected Oct GGR to rise 11% YoY to MOP23B.

US:MS:Morgan Stanley
Morgan Stanley noted Sep Macau GGR grew 6% YoY but missed forecasts; it expects Oct GGR to rise 8% YoY. It also highlighted continued net inflows into HK banks in Asia’s 2Q cross-border wealth management.

US:NVDA:NVIDIA
Citi turned positive on NVIDIA’s outlook and lifted its target price to US$210.

HK:01997.HK:Wharf REIC
UBS estimated Alibaba’s planned move from Times Square could reduce Wharf REIC’s annual rental income by about HK$110M.

HK:02899.HK:Zijin Mining
HSBC Research raised Zijin Mining’s target price to HK$37.70, citing value unlocked by the Zijin Gold International spin-off.

HK:01972.HK:Swire Properties
HSBC Research favoured Swire Properties with a TP of HK$23.90, saying Central office rents may stabilise earlier than expected.

HK:00968.HK:Xinyi Solar
Xinyi Solar was among notable movers as the market spiked to a 4-year high intraday.

HK:3329.HK:BOCOM International
BOCOMI listed October China stock recommendations and said Hong Kong’s “slow bull” trend could persist as mainland investors seek AI and other quality targets.

US:HXSCF:SK hynix
SK hynix shares leapt on talk it may supply chips to OpenAI.

US:SSNLF:Samsung Electronics
Samsung Electronics also advanced amid similar rumours of supplying chips to OpenAI.

🚀 Lunchtime Buzz: Tech Rallies, Gold Miners Shine, and Policy Moves Jolt Big Names

US:NOK:Nokia
Foreign media said China tightened national security reviews on Nokia equipment used in the country.

US:ERIC:Ericsson
Reports also flagged stricter national security reviews in China on Ericsson equipment.

US:UBS:UBS Group
UBS said the recovery of participating (PAR) insurance products in China supports the life insurance industry.

HK:02259.HK:Zijin Gold International
DBS initiated coverage with a “Buy” and target price of HK$137, highlighting the stock’s “pure gold” positioning.

SGX:D05.SI:DBS Group
DBS began coverage on Zijin Gold International with a “Buy” and HK$137 target.

HongKong:3115.HK:Hangseng Index
HSI opened up 62 points as AI-linked names advanced, with Kuaishou and Alibaba among leaders.

HK:01024.HK:Kuaishou
Kuaishou jumped over 7% to a 3.5-year high; brokers cited accelerating AI commercialization.

HK:09988.HK:Alibaba Group
JPMorgan lifted Alibaba’s target price to HK$240, citing cloud and e-commerce synergy.

US:JPM:JPMorgan Chase
JPMorgan raised its target price on Alibaba to HK$240.

HK:09988.HK:Alibaba Group
Alibaba’s Amap app hit a record 360M+ daily active users on Oct 1, the first day of China’s National Day holiday.

HK:02313.HK:Shenzhou International
Shares rose about 5% in early trade after Nike’s fiscal 1Q results topped expectations.

US:NKE:Nike
Better-than-expected fiscal 1Q numbers buoyed supplier Shenzhou International in Hong Kong.

HK:00857.HK:PetroChina
PetroChina appointed a new president.

US:GS:Goldman Sachs Group
Goldman Sachs said private investor demand could further boost gold prices, with several Hong Kong gold names rallying.

HK:03330.HK:Lingbao Gold
Lingbao Gold gained as gold miners rallied on stronger private investor demand.

HK:02099.HK:China Gold International
China Gold International jumped amid the sector surge noted by Goldman Sachs.

HK:03939.HK:Wanguo Gold Group
Wanguo Gold Group advanced alongside Hong Kong gold peers.

HK:00340.HK:Tongguan Gold Group
Tongguan Gold Group surged about 10% during the move in gold names.

SGX:U10.SI:UOB-Kay Hian Holdings
UOB Kay Hian raised its full-year Macau gross gaming revenue forecast by 1%.

US:MS:Morgan Stanley
Morgan Stanley said Macau September GGR grew 6% year on year but missed forecasts; it expects October GGR to rise 8%.

US:MS:Morgan Stanley
Morgan Stanley also noted Asia 2Q cross-border wealth management stayed strong, with continued net inflows into Hong Kong banks.

US:C:Citigroup
Citigroup said Macau’s September GGR was MOP18.289B (in line) and projected October GGR to rise 11% year on year to MOP23B.

US:C:Citigroup
Citi said Xiaomi’s EV orders remain high and expects 3Q average selling price per vehicle to stabilise quarter on quarter.

HK:01810.HK:Xiaomi
President Lu Weibing said the Xiaomi 17 series surpassed 1 million units sold.

HK:06683.HK:Star Plus Legend Holdings
StarPlus Legend said its AI robotic dog is slated for presale with mass production expected in 4Q25/early 2026; a share placement is among funding options if needed.

HK:06683.HK:Star Plus Legend Holdings
The company invested over RMB10 million in promotional activities, including a Shanghai themed art show and “instagrammable” installations.

HK:01997.HK:Wharf REIC
UBS estimated Alibaba’s move from Times Square could cut Wharf REIC’s annual rental income by about HK$110 million.

HK:09988.HK:Alibaba Group
UBS said Alibaba’s relocation from Times Square is expected to reduce Wharf REIC’s annual rental income by roughly HK$110 million.

HK:00005.HK:HSBC Holdings
HSBC repurchased over 2.09 million shares on Wednesday, involving about HK$231 million.

HK:00005.HK:HSBC Holdings
HSBC also bought back more than 3.61 million shares on Tuesday, totaling about HK$395 million.

US:SPGI:S&P Global
S&P said the U.S. government shutdown has limited overall economic impact and left the sovereign rating intact.

HK:09868.HK:XPeng
XPeng delivered 41,581 vehicles in September, up 10.3% month on month.

US:NVDA:NVIDIA
Citigroup turned positive on NVIDIA’s outlook and lifted its target price to US$210.

US:C:Citigroup
Citi raised its target price for NVIDIA to US$210.

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