Hong Kong Tech Leads, Broker Upgrades Spark Big Moves

HK:00981.HK:SMIC
SMIC surged over 5% after Morgan Stanley upgraded the stock to Overweight and doubled its target price to HKD80, citing rapid AI adoption in China and policy support for domestic AI GPUs.

HK:3115.HK:Hangseng Index
The Hang Seng Index jumped 427 points (+1.7%) to 26,286 at midday, with HSCEI up 1.8% and HSTECH up 2.6%, led by handset names and China insurers; Bilibili-W rallied about 10%.

HK:09626.HK:Bilibili-W
Bilibili-W rocketed around 10% intraday, helping power HSTECH’s advance.

US:BABA:Alibaba Group
Alibaba gained about 3.8% as reports said its Quark unit is advancing an AI business initiative.

HK:09988.HK:Alibaba Group
Alibaba’s Hong Kong line also rose over 3% amid the same AI-related momentum.

HK:02318.HK:Ping An Insurance
Ping An climbed over 3% by midday alongside broad strength in China insurers.

HK:01929.HK:Chow Tai Fook Jewellery
Chow Tai Fook hit a new high during the midday session.

HK:02038.HK:FIH Mobile
FIH Mobile reached a new high at midday.

HK:01766.HK:CRRC
CRRC notched a new high among notable movers.

HK:07399.HK:XI2CSOPMSTR
Leveraged CSI Master ETF topped the ETF gainers, closing the morning at HKD30.78, up 6.1%.

HK:07234.HK:XL2 BOS CHINEXT
XL2 BOS CHINEXT rose 5.6% to HKD7.32 at midday.

HK:03193.HK:CSOP CSI 5G
CSOP CSI 5G added 5.5% to HKD11.28 by the midday close.

HK:07226.HK:XL2CSOPHSTECH
XL2CSOPHSTECH gained 5.3% to HKD6.415.

HK:09399.HK:XI2CSOPMSTR-U
USD counter of the leveraged CSI Master ETF advanced 5.0% to USD3.948.

US:PDD:PDD Holdings
Goldman Sachs highlighted PDD among Chinese companies with strong global competitiveness and rated it Buy.

US:TCOM:Trip.com Group
Goldman Sachs included Trip.com Group on its Buy-rated list of globally competitive Chinese stocks.

HK:09988.HK:Alibaba Group
Goldman Sachs named Alibaba (Buy) among Chinese leaders in global competitiveness.

HK:01810.HK:Xiaomi
Goldman Sachs cited Xiaomi (Buy) for strong global competitiveness.

HK:01211.HK:BYD Company
Goldman Sachs listed BYD (Buy) among globally competitive Chinese names.

HK:02899.HK:Zijin Mining
JPMorgan reiterated Zijin Mining as its top pick, lifting its target price to HKD42 on higher earnings forecasts.

HK:00002.HK:CLP Holdings
HSBC Research said CLP’s 3Q operational data were robust and suggested full-year DPS may increase.

HK:09618.HK:JD.com
JD-SW launched free home delivery in Hong Kong for self-operated products with a minimum spend of RMB99.

HK:00780.HK:Tongcheng Travel
UBS raised Tongcheng Travel’s target price to HKD26.5 while trimming its 3Q revenue forecast slightly by 0.7%.

HK:03800.HK:GCL Technology
BOCOM International kept GCL Tech at Buy, noting a sharp polysilicon price rebound is driving a profit turnaround.

HK:00700.HK:Tencent
Bank of America Securities lifted Tencent’s target price to HKD780, citing strengthening AI monetization momentum.

Sanae Takaichi was elected Japan’s first female prime minister after the LDP-led cabinet resigned; the Nikkei approached the 50,000 level before gains eased.

Goldman Sachs also listed (Buy) the following China A-share leaders for global competitiveness: CATL, Midea Group, Zhongji Innolight, Mindray Bio-Medical, and Beone Medicines. (Tickers referenced in source as mainland listings.)

Multiple brokers weighed in on CATL’s 3Q results: JPMorgan called them solid with optimism for 2026 demand; CLSA lifted TP to HKD685 on margin expansion; Nomura raised TP to RMB465 with in-line results; Citi kept CATL as a top pick with in-line results. (Tickers referenced in source as mainland listings.)

AI & Upgrades Drive Hong Kong Pulse: Banks, Telcos, Casinos, and Tech in Focus

US:MS:Morgan Stanley
Says CATL’s 3Q revenue missed but net profit was in line.

US:BAC:Bank of America
Lifts CATL’s target price to RMB605, noting a slight 3Q25 profit beat.

HK:00700.HK:Tencent
Haitong International expects 3Q gaming and fintech gross margins to remain flat quarter-on-quarter.

HK:00700.HK:Tencent
Morgan Stanley projects 3Q revenue to grow 13% year-on-year and reiterates Overweight.

HK:00857.HK:PetroChina
Morgan Stanley sets target price at HKD10.25, keeping it as China’s top natural gas investment idea.

HK:00941.HK:China Mobile
Citi says 3Q results are largely in line.

HK:00941.HK:China Mobile
UBS cuts target price to HKD100 but highlights resilient cash flow amid macro headwinds.

US:C:Citi
Raises October Macau GGR forecast to MOP22.5 billion.

HK:01929.HK:Chow Tai Fook Jewellery
Huatai Securities (HTSC) lifts target price to HKD19.4 as same-store sales growth turns fully positive.

HK:00027.HK:Galaxy Entertainment
CLSA names Galaxy Entertainment a top pick, seeing China industrial profit growth supporting Macau GGR.

HK:02282.HK:MGM China
CLSA also picks MGM China as a top idea; separately raises its target price to HKD22.7 for revaluation potential.

HK:02208.HK:Goldwind
Morgan Stanley believes the share price will fall in the next 15 days.

US:MCO:Moody’s
Downgrades China Vanke’s corporate family rating to Caa2 with a Negative outlook.

HK:02202.HK:China Vanke
Faces rating downgrade to Caa2 and Negative outlook by Moody’s.

US:UBS:UBS Group
Says CATL’s 3Q results slightly beat; expects the market to nudge earnings forecasts higher.

HK:01929.HK:Chow Tai Fook Jewellery
UBS raises target price to HKD18.35 and rates the stock Buy.

HK:01398.HK:ICBC
Morgan Stanley expects the share price to rise within the next 60 days.

HK:00998.HK:China CITIC Bank
Morgan Stanley expects the share price to rise within the next 60 days.

HK:01999.HK:Man Wah Holdings
UBS upgrades to Buy and raises target price to HKD5.5.

HK:02899.HK:Zijin Mining
HSBC Research lifts target price to HKD43 and maintains Buy.

HK:00939.HK:China Construction Bank
Morgan Stanley projects shares will rise in the next 60 days.

HK:02013.HK:Weimob Inc
Surged over 10% intraday on collaboration with Douyin’s Ocean Engine.

HK:00992.HK:Lenovo Group
CLSA raises target price to HKD12.8, expecting 2FQ adjusted net profit to jump 14%.

HK:00669.HK:Techtronic Industries
UBS says escalation in US-China trade tensions accelerates industry consolidation and lists TTI as a top pick.

HK:01999.HK:Man Wah Holdings
Also named a top pick by UBS amid expected consolidation tailwinds.

HK:02313.HK:Shenzhou International
UBS includes Shenzhou among top picks as consolidation speeds up.

HK:00823.HK:Link REIT
Morgan Stanley warns HK unemployment could rise above 4% by year-end, with retail softness pressuring Link REIT.

HK:01997.HK:Wharf REIC
Morgan Stanley flags retail sales pressure could weigh on Wharf REIC too.

HK:09618.HK:JD.com (JD-SW)
Reportedly expanding its Hong Kong insurance business by hiring more staff.

HK:00005.HK:HSBC Holdings
Warns fraudsters are impersonating PayMe via scam SMS and urges public vigilance.

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Soochow Securities lists last week’s top ten southbound net buys/sells in H-shares (research summary).

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JST Group opens 24.2% higher at HKD38 on debut (IPO snapshot).

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HSI opens up 301 points with Tencent and Alibaba leading, while gold-related names strengthen (market open recap).

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CATL opens 2.8% higher as 1–3Q net profit rises 36% (results flash).

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