🚨 Midday Market Movers: ETFs Surge, HSI Slips, Airlines Rise & Research Calls Drive Stocks

HK:07788.HK:XL2CSOPNVDA
HK:09788.HK:XL2CSOPNVDA-U
HK:07552.HK:XI2CSOPHSTECH
HK:03171.HK:A SS BLOCKCHAIN
HK:07747.HK:XL2CSOPSMSN

Top ETF Gainers
XL2CSOPNVDA (07788.HK) jumped 8.7% to HK$154.3, while its U.S.-denominated version XL2CSOPNVDA-U (09788.HK) rose 7.8% to US$19.84. XI2CSOPHSTECH (07552.HK) added 4.0% to HK$1.236. A SS BLOCKCHAIN (03171.HK) climbed 3.1% to HK$49.6, and XL2CSOPSMSN (07747.HK) advanced 3.0% to HK$17.89.

HK:3115.HK:Hang Seng Index
HK:09888.HK:Baidu
US:NIO:NIO

HSI Weakens
The Hang Seng Index dropped 254 points (1%) to 26,090. The HSCEI slid 1.2% to 9,261, and the HSTECH sank 2.2% to 6,120. Baidu (09888.HK) slumped 7.6% on weaker August traffic, while NIO (NIO) tumbled more than 7% as Nomura warned its financial turnaround may take until 2027.

Typhoon Alert
The Hong Kong Observatory announced it will hoist Typhoon Signal No. 8 at 2:20 p.m., warning of stronger winds ahead.

HK:00293.HK:Cathay Pacific Airways

Aviation Strength
Cathay Pacific Airways (00293.HK) reported August passenger volumes up 30% YoY, with a 28% rise for the first eight months of 2025. Cargo operations grew 13% YoY in August, reflecting strong demand.

HK:3115.HK:Hang Seng Index
HK:03690.HK:Meituan
HK:00388.HK:HKEX
HK:01810.HK:Xiaomi
HK:00700.HK:Tencent
HK:02318.HK:Ping An Insurance
HK:03988.HK:Bank of China
HK:00941.HK:China Mobile
HK:01299.HK:AIA Group
HK:02628.HK:China Life Insurance
HK:01088.HK:China Shenhua Energy
HK:01109.HK:China Resources Land
HK:00939.HK:China Construction Bank

Midday Wrap – Heavyweights Slip, New Highs Seen
At midday, HSI shed 254 pts (1%) to 26,090 and HSTECH lost 137 pts (2.2%) to 6,120. Key names fell: Meituan (03690.HK) -2.5%, HKEX (00388.HK) -1.5%, Xiaomi (01810.HK) -1.4%, Tencent (00700.HK) -0.9%. Insurance and bank giants like Ping An (02318.HK), Bank of China (03988.HK), China Mobile (00941.HK), AIA (01299.HK), China Life (02628.HK), Shenhua (01088.HK), CR Land (01109.HK), and CCB (00939.HK) also traded lower.

US:BIDU:Baidu
US:BABA:Alibaba
US:NIO:NIO
HK:02899.HK: Zijin Mining

Research Highlights

• Jefferies sees value in Zijin Mining (02899.HK) spinning off Zijin Gold International.

• Goldman Sachs raised SMIC’s TP to HK$83.5, citing AI-driven demand.

• Nomura reported Baidu’s (BIDU) August usage down 6% YoY, while Taobao and Meituan gained 17% and 10% respectively.

• Alibaba’s (BABA) AliExpress launched a “Super Brand Global Expansion Plan.”

• JPMorgan initiated coverage on COSCO Shipping Energy with an “Overweight” rating.

• Goldman Sachs said ANTA Sports’ portfolio can weather fallout from the Arc’teryx incident.

• Citi trimmed Macau’s September GGR forecast due to typhoon disruptions, while HSBC Research projected a rise of 8–12% YoY.

• Goldman Sachs also began coverage on Hesai (HESAI-W) with a “Buy” rating and TP of HK$281.

🌏 Market Buzz: From Baidu & Alibaba to Cathay & HSBC, Key Movers and Calls

US:BABA:Alibaba
Nomura reported Alibaba’s Amap posted a 26% surge in monthly total usage in August, underscoring continued traction in its mapping services.

HK:09888.HK:Baidu
Baidu’s monthly total usage remained flat year-on-year in August, showing weaker momentum compared with peers. Separately, the company launched a slew of AI-related positions in campus recruitment.

HK:01024.HK:Kuaishou Technology
BofA Securities said the probe by China’s SAMR will have only a manageable impact on Kuaishou, maintaining a “Buy” rating on the stock.

HK:01037.HK:Maxnerva Technology Services
Maxnerva Technology soared as much as 1.3 times after trading resumed, boosted by news its subsidiary will collaborate with UBTech Robotics to promote humanoid robots.

HK:02343.HK:Pacific Basin Shipping
JPMorgan initiated coverage on Pacific Basin with an “Overweight” rating and set a target price at HK$3.2.

HK:01112.HK:Damai Entertainment
Citi reiterated its “Buy” call on Damai Entertainment, citing strong untapped potential in its IP business.

HK:02611.HK:Guotai Junan International
Guotai Junan International shares tumbled nearly 5% after reports that the CSRC asked brokers to halt tokenization of risk-weighted assets in Hong Kong.

HK:01271.HK:Grand Ming Group
Grand Ming confirmed it is in talks to sell all four of its data centers, a deal that could fetch HK$5.25 billion.

US:BABA:Alibaba
Taobao, Alibaba’s e-commerce arm, announced it will launch its “Double 11” shopping event simultaneously across 20 countries and regions worldwide.

HK:00293.HK:Cathay Pacific Airways
Cathay Pacific cancelled more than 500 flights over three days but expects operations to gradually normalize by Thursday or Friday.

HK:2499.HK:Butong Group
Butong Group debuted strongly, soaring 41% to close at HK$100.4 on its first trading day.

HK:3115.HK:Hang Seng Index
The Hang Seng Index opened 91 points higher, supported by strength in Apple-concept and chip-related stocks.

HK:01810.HK:Xiaomi
Xiaomi’s investment fund reportedly backed an auto-chip company ahead of the launch of its Xiaomi 17 smartphone series on Thursday.

HK:03738.HK:Vobile Group
Vobile Group plans to issue HK$1.6 billion zero-coupon convertible bonds at a 15.1% premium, aiming to bolster funding.

HK:0388.HK:HKEX
Hong Kong Exchanges & Clearing reiterated its commitment to maintaining fair and orderly market operations even under severe weather arrangements.

US:HSBC:HSBC Holdings
HSBC disclosed it has repurchased more than 3.67 million shares year-to-date, valued at about US$395 million.

US:ORCL:Oracle
Oracle is reportedly considering leasing algorithmic technology from ByteDance to rebuild the U.S. version of TikTok’s recommendation system.

HK:3115.HK:Hang Seng Index
Hong Kong Observatory issued a T3 signal in the morning and confirmed a T8 storm signal will take effect at 2:20 p.m. today.

HK:9991.HK:Jingdong Industrials
Jingdong Industrials filed with the CSRC for a Hong Kong IPO, planning to issue around 250 million shares.

Thank you