AI Midday Flash: Hong Kong Tech Sways, ETFs Pop, Buybacks & Big-Name Calls Drive Moves

Property tycoon Koh Wee Meng and Aspial launch 11-cent offer to take AF Global private

HK:07399.HK:XI2CSOPMSTR
Surged 14.2% to HK$25.26, topping ETF gainers at midday.

HK:09399.HK:XI2CSOPMSTR-U
Jumped 12.7% to US$3.24 among USD-counter ETFs.

HK:07311.HK:XI2CSOPCOIN
Rose 6.6% to HK$7.07, extending crypto-linked ETF strength.

HK:09311.HK:XI2CSOPCOIN-U
Added 5.6% to US$0.901 in USD-counter trading.

HK:03112.HK:A PANDOCMSBLKC
Climbed 4.2% to HK$27.34, rounding out the Top 5 ETF gainers.

US:JPM:JPMorgan Chase
Estimates Macau’s Oct GGR could rise up to 13% YoY, with Golden Week tracking at a near five-year high; also notes early-October average daily GGR of ~MOP1.1B.

HK:3115.HK:Hangseng Index
Fell 287 points (−1.1%) to 26,669 at midday after a weak ADR lead-in.

HK:09988.HK:Alibaba Group
Dropped over 3% in Hong Kong midday trade following overnight ADR declines.

HK:09888.HK:Baidu
Eased in Hong Kong, mirroring a >4% overnight drop in ADRs.

HK:00175.HK:Geely Automobile
Jumped 3%+ after unveiling a share repurchase plan of up to US$2.3B.

HK:01164.HK:CGN Mining
Hit a new high during the session amid strength in resource names.

HK:01787.HK:Shandong Gold Mining
Registered a new high alongside broader precious-metals momentum.

HK:00358.HK:Jiangxi Copper
Notched a new high as base-metal plays advanced.

HK:00826.HK:Tiangong International
Marked a new high, tracking gains across industrial materials.

HK:01772.HK:Ganfeng Lithium
Set a new high amid renewed interest in EV-battery supply chain names.

HK:03690.HK:Meituan
Slipped about 2.6% to HK$102.9 at midday.

HK:00388.HK:HKEX
Edged down 1.1% to HK$443.4 in the broader market pullback.

HK:00700.HK:Tencent
Softened 0.5% to HK$674 by midday.

HK:00763.HK:ZTE
Target price raised to HK$38.40 by Goldman Sachs; rating kept Neutral.

US:JPM:JPMorgan Chase
Says every US$10B increase in gold demand may lift prices ~3% QoQ; a minor shift from U.S. Treasuries could push gold above US$5,000.

US:GS:The Goldman Sachs Group
Expects copper to hover in the US$10K–US$11K/ton range.

HK:03908.HK:China International Capital Corp
Highlights Tencent Music and NetEase Music as leading plays in online music.

US:TME:Tencent Music Entertainment
Named as one of two sector leaders by CICC in online music.

HK:09899.HK:NetEase Music
Identified by CICC as a co-leader in the online music space.

US:UBS:UBS Group AG
Sees Macau’s National Day Golden Week demand strengthening in later days vs last year; also upgrades CK Asset to Buy with a higher target price of HK$42.9.

HK:01113.HK:CK Asset
Upgraded to Buy by UBS; viewed as a beneficiary of rising non-HK student inflows alongside Henderson Land.

HK:00012.HK:Henderson Land
Flagged by UBS as benefiting from structural growth in non-HK student numbers.

US:HSBC:HSBC Holdings
Raises TSMC target price to TWD1,800 and notes HK office rent declines are narrowing; expresses preference for Swire Properties.

US:TSM:Taiwan Semiconductor Manufacturing
Target price lifted by HSBC Research; rating maintained Buy.

HK:01972.HK:Swire Properties
Preferred pick in HK offices per HSBC amid easing rent declines.

HK:03899.HK:CIMC Enric
Citi raises target price to HK$9.50, citing prospects for a chemical business recovery.

US:NMR:Nomura Holdings
Keeps Buy on ASMPT and raises target price to HK$125.

HK:00522.HK:ASMPT
Target price lifted by Nomura; Buy rating reiterated.

US:AMD:Advanced Micro Devices
BofA Securities says partnership with OpenAI could lift EPS above US$15.

AI Midday Brief: IPO Sizzles, Tech Slides, Gold Glitters—Hong Kong Markets Jolt Back to Life

HongKong:3115.HK:Hangseng Index
The HSI sank over 400 points at one stage post-holiday and was still down by midday as tech weakness weighed.

HK:00960.HK:Longfor Group
Shares slumped about 7% amid the early-session market selloff.

HK:09988.HK:Alibaba Group
Stock opened soft as sentiment tracked a drop in U.S.-listed Chinese tech peers overnight.

HK:09888.HK:Baidu
Followed ADR weakness, trading lower alongside broader Hong Kong tech names.

HK:00020.HK:SenseTime
Fell roughly 5% in early trade during the tech-led retreat.

HK:01787.HK:Shandong Gold Mining
Advanced over 5% as spot gold crossed US$4,000 for the first time.

US:GS:Goldman Sachs Group
Raised its gold price forecast toward US$4,900/oz on continued inflows, while seeing short-term support for aluminum but a possible slide to US$2,350/ton in 4Q26.

US:JPM:JPMorgan Chase
Said global stablecoin adoption could bolster demand for the U.S. dollar.

US:SPGI:S&P Global
Unit S&P Global Market Intelligence flagged the top 10 most-recently shorted Hong Kong stocks.

HK:02652.HK:CF PharmTech
Debuted in Hong Kong with shares surging as much as ~219%, opening over 200% above the IPO price.

HK:08549.HK:Golden Leaf International
GEM’s first new listing this year recorded margin oversubscription exceeding 9,000x in the IPO.

HK:02670.HK:Yunji Technology
Robotics firm set to list in Hong Kong under Chapter 18C with an entry fee of about HK$4,828.

HK:02889.HK:PATEO Connect Technology
Announced a strategic partnership in intelligent connected vehicles and humanoid robots with SenseTime.

HK:00020.HK:SenseTime
Formed a strategic cooperation with PATEO covering smart vehicles and humanoid robotics.

HK:00005.HK:HSBC Holdings
Repurchased 500,000 shares yesterday for approximately HK$54.98 million.

US:TSM:Taiwan Semiconductor Manufacturing
BofA Securities lifted its target price to US$330 and reiterated a Buy rating.

US:NVDA:NVIDIA
CEO Jensen Huang said a new deal with OpenAI marks the companies’ first direct partnership.

HK:MPF:Hong Kong MPF System
MPF Ratings reported YTD returns at a 15-year high of 15.83%, with per-member gains averaging a record HK$43,225.

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