--- title: "\"Hong Kong Stocks\" Hang Seng Index closed up 446 points, Tech Index rose over 3%, Alibaba and Baidu led the gains" type: "News" locale: "en" url: "https://longbridge.com/en/news/282965367.md" description: "Hong Kong stocks rose due to the increase in technology stocks, with the Hang Seng Index up 446 points, closing at 26,394 points. The National Index and the Hang Seng Tech Index rose by 186 points and 180 points, respectively. Alibaba Cloud will raise prices for some services, and Alibaba's stock price rose by 5.6%; Baidu's cloud business revenue expectations exceeded market expectations, and its stock price rose by 7.7%. Other technology stocks such as Kingsoft Cloud, Tencent, and Lenovo Group also saw significant increases. The total market turnover was HKD 256.228 billion" datetime: "2026-04-16T08:28:06.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/282965367.md) - [en](https://longbridge.com/en/news/282965367.md) - [zh-HK](https://longbridge.com/zh-HK/news/282965367.md) --- # "Hong Kong Stocks" Hang Seng Index closed up 446 points, Tech Index rose over 3%, Alibaba and Baidu led the gains Mainland China's economy grew by 5% in the first quarter, exceeding expectations, and Hong Kong stocks rose driven by technology stocks. The Hang Seng Index opened 175 points higher and the gains expanded, reaching a peak increase of 455 points at one point, hitting 26,403 points, closing up 446 points or 1.7% at 26,394 points; the National Index rose 186 points or 2.1%, reporting 8,905 points; the Hang Seng Tech Index rose 180 points or 3.7%, closing at 5,092 points. The total market turnover for the day was HKD 256.228 billion. Technology stocks were favored, with Alibaba Cloud raising some MU model unit service prices by 2% to 7% in mid-next month, Alibaba (09988.HK) rose 5.6%, with a turnover of HKD 17.1 billion. Some brokerages expect Baidu (09888.HK) to see a 40% year-on-year increase in cloud business revenue in the first quarter, far exceeding market expectations, and Baidu's stock price rose 7.7% to close at HKD 123.3. Kingsoft Cloud (03896.HK) and Tencent (00700.HK) rose 6.4% and 3.6%, respectively, while Lenovo Group (00992.HK) rose 4.9%. AI stocks Zhizhu (02513.HK) and MiniMax (00100.HK) rose 1.8% and 6.3%. Dipu Technology (01384.HK) rose 29.5%, with a turnover of HKD 3.07 billion. XunCe (03317.HK) rose 10.5%, with a turnover of over HKD 2.1 billion. Chip stocks Wallen (06082.HK) and TianShu Intelligent Chip (09903.HK) rose 26.6% and 17.5%, while SMIC (00981.HK) and HuaHong (01347.HK) rose 1.1% and 1.3%. Power equipment stocks Dongfang Electric (01072.HK) and Harbin Electric (01133.HK) rose 9.5% and 8.3%, while uranium mining stock China General Nuclear Power (01164.HK) rose 6.4%. In other technology stocks, Meituan (03690.HK), Bilibili (09626.HK), Kuaishou (01024.HK), and JD.com (09618.HK) rose between 2.6% and 3.1%, while NetEase (09999.HK) and New Oriental (09901.HK) rose 5% and 6.7%, respectively. Kingsoft (03888.HK) and Meitu (01357.HK) rose 4.3% and 4.7%, while Kingdee (00268.HK) rose 9.6%. Mobile component stock Lens Technology (06613.HK) reported a quarterly loss, with its stock price dropping 12.7% for the day. Fiber optic stock Yangtze Optical Fibre and Cable (06869.HK) rose 6%. Battery stock CATL (003750.HK) saw a 49% increase in net profit in the first quarter, surpassing market expectations, and received target price upgrades from multiple brokerages, with its stock price rising 9% to close at HKD 714.5. The new energy stock Sige New Energy (06656.HK) closed at HKD 659.5, up 103% from its listing price of HKD 324.2. Its peer Zhengli New Energy (03677.HK) also rose 6.3% Automotive intelligent driving radar system company Hesai (02525.HK) has been added to the list of eligible securities for the Hong Kong Stock Connect, with its stock price rising 2.9%. According to reports, Uber (UBER.US) has committed to investing $10 billion to develop self-driving taxis, leading to a 10.9% increase in the stock price of intelligent driving system provider Pony.ai (02026.HK). In the automotive sector, BYD (01211.HK) rose 5.5%, while Leapmotor (09863.HK), Xiaomi (01810.HK), and XPeng (09868.HK) each rose between 3.5% and 4.4%. Lithium stocks Ganfeng Lithium (01772.HK) and Tianqi Lithium (09696.HK) increased by 7.3% and 5.2%, respectively. In the consumer sector, Trip.com (09961.HK) and Tongcheng (00780.HK) rose 4.8% and 4.1%, Haidilao (06862.HK) rose 6.8%, Pop Mart (09992.HK) rose 0.9%, while Lao Pu Gold (06181.HK) fell 2.7%. In the pharmaceutical sector, BeiGene (06160.HK) and Kingsoft (01548.HK) each rose over 3%. In the financial sector, HSBC (00005.HK) and AIA (01299.HK) rose 0.6% and 0.5%, respectively, while Hong Kong Exchanges and Clearing (00388.HK) fell 0.7%. 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