---
title: "Hang Seng TECH Index surged by 2%, with the autonomous driving concept bucking the trend and strengthening, Baidu soared by 10%"
description: "A-shares opened lower, with autonomous driving and lithium mining concepts gaining strength, Tianmai Technology and Dongjian Technology both hit the 20% daily limit up. Hong Kong stocks opened higher "
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/208410421.md"
published_at: "2024-07-10T08:26:11.000Z"
---

# Hang Seng TECH Index surged by 2%, with the autonomous driving concept bucking the trend and strengthening, Baidu soared by 10%

> A-shares opened lower, with autonomous driving and lithium mining concepts gaining strength, Tianmai Technology and Dongjian Technology both hit the 20% daily limit up. Hong Kong stocks opened higher and continued to rise, with technology and internet-related stocks leading the gains, Baidu surged by 10%

On Wednesday, the Shanghai Composite Index opened 0.35% lower, the Shenzhen Component Index fell by 0.4%, and the ChiNext Index dropped by 0.56%. Real estate, retail, and coal sectors led the decline, while stocks related to digital finance, photovoltaics, wind power, commercial aerospace weakened; the smart transportation theme was active.

![Image](https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/b2e312cb-a8ce-45bf-a912-510dda0d9499.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg)

The Hang Seng Index opened 0.52% higher at 17,613.50 points, the Hang Seng TECH Index rose by 1.07%, and the Hang Seng China Enterprises Index increased by 0.58%. Technology and financial stocks were active, with Baidu surging by 10% and Bilibili rising by over 3%. Nongfu Spring rose by nearly 4%, with its controlling shareholder Yangshengtang planning to increase holdings by up to HKD 2 billion. Three new stocks debuted today, with Qilu Transportation falling by over 14%, Shengtong Technology dropping by over 11%, and Ruichang International Holdings rising by nearly 24%.

![Image](https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/b4402b94-83e7-49fd-b19c-c28cb98a0fd8.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg)

![Image](https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/a6bdeb76-2ef7-493e-9d73-c5faa8f7afda.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg)

In the **A-share sector**, the photovoltaic sector led the decline.

![Image](https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/63590e24-ef1a-425b-a996-efe3367ddae1.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg)

Digital finance continued to fall.

![Image](https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/aba90542-3866-4f8e-aef5-f0d7575b9f5c.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg)

Real estate stocks continued to pull back.

![Image](https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/57e6e158-21c3-4e96-84a2-d92a63be7731.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg)

Stocks related to autonomous driving surged, with Tianmai Technology, Dongjian Technology, and Zhonghaida all hitting the daily limit up, while Xingwang Yuda and Luchang Technology also hit the limit up.

![Image](https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/a747f6a3-3643-4726-9983-b9c4bc3cdbb8.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg)

Carlu Cloud concept stocks strengthened in the morning session.

![Image](https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/148060b2-d75b-4533-922d-b08b4e900e7a.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg)

Lithium mining stocks also showed strong performance.

![Image](https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/f4115603-3421-4a36-a602-07731b6add7f.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) **Hong Kong Stock Sector**

**Government Bond Futures**

On Wednesday, government bond futures opened with mixed movements. The main contract for the 30-year period rose by 0.01%, the main contract for the 10-year period rose by 0.02%, the main contract for the 5-year period fell by 0.03%, and the main contract for the 2-year period remained relatively stable.

**Market News**

**National Bureau of Statistics: CPI Continues to Rise Year-on-Year in June, PPI Year-on-Year Decline Narrows**

On July 10, the National Bureau of Statistics released the national CPI (Consumer Price Index) and PPI (Producer Price Index) data for June 2024. The CPI decreased seasonally on a month-on-month basis but continued to rise year-on-year. The PPI decreased slightly on a month-on-month basis, while the year-on-year decline continued to narrow.

**Several Brokerages Follow Suit in Restricting Margin Trading to Prevent "T+0" Trading**

On July 9, some investors reported receiving notifications from Dongxing Securities that starting from July 15, they will implement restrictions on margin trading to prevent "T+0" trading. According to Securities Times, Dongxing Securities had already issued a related notice on its official website the day before. Following regulatory efforts to optimize margin trading mechanisms, several brokerages have followed suit. However, different brokerages have taken actions at different paces. For example, in the case of using margin trading for intraday trading, some brokerages still support the practice of selling margin securities on the same day and using the same securities for collateral or financing. Nevertheless, some brokerage staff mentioned that although the relevant restrictions have not been implemented yet, the limited availability of lendable securities currently has minimal impact on trading.

**Investigation Launched by State Council Food Safety Office on Tanker Transporting Edible Oil**

On the evening of July 9, in response to media reports on issues related to the transportation of edible oil by tankers, the State Council Food Safety Office issued a notice to establish a joint investigation team to thoroughly investigate the problems in the transportation of edible oil by tankers.

**CSRC Seeks Opinions on Program Trading, Proposing to Grant Brokerages Greater Disposal Authority**

On July 9, a draft consultation document on program trading entrustment agreements was widely circulated in the private equity circle. According to brokerage sources, in order to comply with the relevant provisions of the "Regulations on the Management of Program Trading in the Securities Market (Trial)", the CSRC drafted the "Program Trading Entrustment Agreement (Model Text) (Consultation Draft)". The document covers program trading reports, trading behavior, high-frequency trading management, default responsibilities, and other contents, and makes agreements on the rights, obligations, and responsibilities of both parties. A quantitative private equity professional told reporters that the document provides a more detailed delineation of the rights and responsibilities between program trading and brokerages, further clarifying the frontline monitoring responsibilities of brokerages for program trading and granting brokerages greater disposal authority

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.