---
title: "HK Stocks Close | Three Major Indices Show Divergent Volatility, AI Wave Sweeps the Market, JD-SW Surges Over 8% Post-Earnings"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286221110.md"
description: "On May 13, a comprehensive surge in Hong Kong-listed AI concept stocks drove market strength, with the Hang Seng Tech Index closing up 0.46%. Expectations of NVIDIA CEO Jensen Huang's visit to China and positive developments in the computing power supply chain resonated, sending stocks like KNOWLEDGE ATLAS and Han's CNC soaring. JD-SW jumped over 8% with strong support from major banks after its earnings release, while leaders in the automotive, lithium battery, and consumer sectors, including Pop Mart, retreated collectively"
datetime: "2026-05-13T08:13:01.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286221110.md)
  - [en](https://longbridge.com/en/news/286221110.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286221110.md)
---

# HK Stocks Close | Three Major Indices Show Divergent Volatility, AI Wave Sweeps the Market, JD-SW Surges Over 8% Post-Earnings

**Market Overview**

▪ Bulls and bears engaged in fierce contention at key levels throughout the day in the Hong Kong stock market; index movements were stable, but undercurrents of hot spots surged during trading sessions;

▪ The Hang Seng Index closed at 26,388.440 points, up 0.15%;

▪ The Hang Seng Tech Index closed at 5,093.850 points, up 0.46%;

▪ The Hang Seng China Enterprises Index closed at 8,876.380 points, down 0.07%.

**Sector Performance and Hot Stocks**

**AI Concept Stocks Ignite Collectively, Large Models and Computing Power Lead the Rally**

▪ KNOWLEDGE ATLAS (02513.HK) skyrocketed 35.71%, closing at HK$1,140, with single-day turnover reaching HK$3.4 billion;

▪ Han's CNC (03200.HK) rose 31.27%, closing at HK$185.5;

▪ Montage Technology (06809.HK) gained 24.33%, Xunce (03317.HK) rose 24.23%, and MINIMAX-W (00100.HK) advanced 17.45%.

**Internet Giants Perform Strongly, JD-SW Backed by JPMorgan**

▪ JD-SW (09618.HK) surged 8.19%, closing at HK$128.1; JPMorgan noted its resilient retail profit margins and significantly undervalued status.

▪ Meituan-W (03690.HK) rose 4.40%, and Tencent Holdings (00700.HK) gained 1.18%.

▪ Kuaishou-W (01024.HK) dipped slightly by 2.09%, but its subsidiary "Keling AI" garnered optimism from major banks with a spin-off valuation of US$20 billion, leading to a substantial upward revision of its potential target price.

**Divergence in CPO and Related Supply Chains, Contract Manufacturing Segment Favored**

▪ FIT Hon Teng (06088.HK) rose 11.15%, boosted by Foxconn's significant upward revision of its CPO cabinet shipment target to over 50,000 units;

▪ Innoscience (02577.HK) gained 19.4%, and SICC (02631.HK) rose 11.52%.

▪ SMIC (00981.HK) bucked the trend to fall 3.26%, closing at HK$74.1.

**Automotive and Consumer Electronics Sectors Retreat Collectively**

▪ Geely Auto (00175.HK) fell 5.76%, closing at HK$21.26; Ganfeng Lithium (01772.HK) dropped 4.26%, and BYD Company (01211.HK) declined 1.8%.

▪ Pop Mart (09992.HK) fell 1.84%, mainly dragged down by growth concerns triggered by declining US credit card spending data in April.

**Macro Background**

▪ New Expectations for US-China AI Cooperation: NVIDIA CEO Jensen Huang joined the US delegation visiting China, sparking optimistic market sentiment regarding potential cooperation in the AI field and supply chain improvements between the two countries.

▪ Upward Revision of Computing Power Demand Ahead of Schedule: Foxconn Group delivered all-optical CPO switch cabinets to NVIDIA ahead of schedule, with a significant increase in long-term shipment targets, marking that the prosperity of the AI hardware supply chain remains in an acceleration phase.

▪ Risk Warning Signals: Goldman Sachs warned that long exposures in chip stock leveraged ETFs have approached US$100 billion, urging the market to be wary of insufficient pricing for potential deleveraging risks in the options market.

**Top 10 Market Turnover**

▪ Tracker Fund of Hong Kong (02800.HK): Latest HK$26.52, up 0.15%, turnover HK$12.1 billion

▪ Tencent Holdings (00700.HK): Latest HK$462.6, up 1.18%, turnover HK$11.0 billion

▪ Alibaba-W (09988.HK): Latest HK$132.5, down 0.6%, turnover HK$10.8 billion

▪ CSOP Hang Seng TECH Index ETF (03033.HK): Latest HK$4.982, up 0.28%, turnover HK$7.6 billion

▪ Global X 2x Daily Long SK Hynix (07709.HK): Latest HK$105.55, up 14.75%, turnover HK$7.5 billion

▪ Hang Seng H-Share Index ETF (02828.HK): Latest HK$90.94, down 0.26%, turnover HK$6.6 billion

▪ SMIC (00981.HK): Latest HK$74.1, down 3.26%, turnover HK$6.2 billion

▪ Pop Mart (09992.HK): Latest HK$159.9, down 1.84%, turnover HK$5.1 billion

▪ Meituan-W (03690.HK): Latest HK$87.85, up 4.4%, turnover HK$5.0 billion

▪ JD-SW (09618.HK): Latest HK$128.1, up 8.19%, turnover HK$3.9 billion

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