"Hong Kong Stocks" Hang Seng Index rises 116 points in half a day, Baidu surges nearly 7%, Pop Mart declines 5%

Hong Kong stock index futures rose in the morning session on settlement day. The Hang Seng Index opened 1 point higher and then expanded its gains, rising by 160 points to a high of 25,795 points, closing up 116 points or 0.45% at 25,751 points; the National Index rose 59 points or 0.7% to 8,951 points; the Hang Seng Tech Index rose 57 points or 1.1% to 5,540 points. The total market turnover for the half day was HKD 96.537 billion.

General GPU company Tian Shi Zhi Xin (09903.HK) began its IPO today, aiming to raise approximately HKD 3.677 billion. Baidu (09888.HK) saw its stock price rise by 6.9% to HKD 127.3, as the market anticipates the Kunlun chip concept under Baidu. Chip stock SMIC (00981.HK) acquired a 49% stake in SMIC North for a final consideration of RMB 40.6 billion, with SMIC rising 3.2%. Robotics stock Yue Jiang (02432.HK) proposed to list its A shares on the Shenzhen Stock Exchange, with its stock price rising 4.8%. Peer company UBTECH (09880.HK) announced that its chairman would not reduce his shareholding within a year, leading to a 6.3% increase in its stock price.

In other tech stocks, Alibaba (09988.HK) rose 0.7%, Tencent (00700.HK), Meituan (03690.HK), and Kuaishou (01024.HK) rose between 0.1% and 0.4%. JD.com (09618.HK) and NetEase (09999.HK) rose 1.3%. Mobile component stocks Qiu Tai (01478.HK) rose 3.4%, while Shunyu (02382.HK) and Lens Technology (06613.HK) rose over 2%. Gaming company Xindong (02400.HK) rose 4%. In the automotive sector, Xiaomi (01810.HK) rose 0.7%, while Nio (09866.HK) and Geely (00175.HK) rose over 2%, and BYD (01211.HK) rose 0.1%.

Russia indicated that Ukraine attempted to attack Putin's residence located in northern Russia. Oil stocks CNOOC (00883.HK) and PetroChina (00857.HK) rose 4.2% and 2.9%, respectively. Metal prices stabilized during the Asian session, with Zijin (02899.HK) falling 2.9%, while Chalco (02600.HK) rose 6.6%, and Luoyang Molybdenum (03993.HK), Jiangxi Copper (00358.HK), and Hongqiao (01378.HK) rose between 2.2% and 3.3%. In the financial sector, HSBC (00005.HK) rose 0.3%, while Hong Kong Exchanges and Clearing (00388.HK) and AIA (01299.HK) fell 0.5% and 1.2%, respectively.

Labubu blind box second-hand prices have significantly "plummeted," with some styles falling below the original price, leading to a 5.2% drop in Pop Mart (09992.HK). Gaming stocks Melco International (00200.HK) and MGM China (02282.HK) fell 3.5% and 3.7%, respectively, as MGM China faces a sharp increase in licensing fees paid to its parent company next year. Sands China (01928.HK) fell 2.3% Pharmaceutical stocks such as Nuo Cheng Jian Hua (09969.HK), Kingsoft (01548.HK), Rongchang (09995.HK), and Kanglong Huacheng (03759.HK) fell by 3.8% to 5.6%. New energy stocks like GCL Technology (03800.HK) and Goldwind (02208.HK) dropped by 3.6% and 8.2%. In other stocks, Damai Entertainment (01060.HK) and Tianqi Lithium (09696.HK) rose by 4.7% and 3.3%.

Ganfeng Lithium (01772.HK) stated that it received a notice of prosecution from the Yichun Public Security Bureau regarding insider trading. After opening down 5.7%, Ganfeng Lithium narrowed its losses and closed flat at 54.8 yuan