--- title: "HSI Surges 446 pts at Midday; CKH HOLDINGS Jumps Over 7%, MINIMAX-W and KNOWLEDGE ATLAS Slump Over 10%" type: "News" locale: "en" url: "https://longbridge.com/en/news/292273077.md" description: "The Hang Seng Index surged 446 points to 24,476 at midday, driven by gains in tech and auto stocks. CKH Holdings jumped over 7% following a UBS upgrade, while AI firms Minimax-W and Knowledge Atlas slumped more than 10% due to share placements. Major tech giants like Xiaomi and Alibaba rose, whereas Tencent fell slightly." datetime: "2026-07-10T04:50:48.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/292273077.md) - [en](https://longbridge.com/en/news/292273077.md) - [zh-HK](https://longbridge.com/zh-HK/news/292273077.md) generator: "portal-rs" --- # HSI Surges 446 pts at Midday; CKH HOLDINGS Jumps Over 7%, MINIMAX-W and KNOWLEDGE ATLAS Slump Over 10% US stocks closed higher overnight (9th), with chip stocks continuing their rebound and driving the Nasdaq up more than 1%. The HSI opened up 183 pts and extended gains, closing midday at 24,476 pts, up 446 pts or 1.86%, with half-day turnover at HKD188.435 billion. The HSTECH stood at 4,858 pts, up 127 pts or 2.69%, while the HSCEI stood at 8,143 pts, up 145 pts or 1.83%. Among active major tech stocks, XIAOMI-W (01810.HK) +1.160 (+4.640%) Short selling $887.00M; Ratio 24.902% rose 4.64% by midday; BABA-W (09988.HK) +3.900 (+3.611%) Short selling $1.46B; Ratio 24.272% , KUAISHOU-W (01024.HK) +1.540 (+3.658%) Short selling $178.15M; Ratio 14.071% and BIDU-SW (09888.HK) +3.600 (+3.147%) Short selling $135.14M; Ratio 39.861% gained more than 3%; MEITUAN-W (03690.HK) +1.200 (+1.529%) Short selling $453.63M; Ratio 32.992% added 1.53%. TENCENT (00700.HK) -2.400 (-0.511%) Short selling $1.24B; Ratio 14.323% bucked the trend and fell 0.51%. CKH HOLDINGS (00001.HK) +5.000 (+7.680%) Short selling $141.36M; Ratio 32.356% closed the half-day session up 7.68% at HKD70.1, making it the best-performing blue chip stock in the morning session. On the news front, UBS raised its TP on CKH HOLDINGS by 19% to HKD101, believing that refraining from further asset disposals would support higher dividend payouts. Among other blue chips, SMIC (00981.HK) +3.250 (+3.890%) Short selling $1.43B; Ratio 18.993% rose 3.89%, while LENOVO GROUP (00992.HK) +1.140 (+4.742%) Short selling $761.40M; Ratio 28.183% jumped 4.74%. ZIJIN MINING (02899.HK) +0.980 (+3.331%) Short selling $179.02M; Ratio 22.370% issued a positive profit alert and rose 3.33% by midday, while CATL (03750.HK) -14.500 (-2.275%) Short selling $262.99M; Ratio 31.671% fell 2.27%. Auto stocks performed well, with BYD COMPANY (01211.HK) +3.500 (+4.235%) Short selling $183.76M; Ratio 23.139% and GEELY AUTO (00175.HK) +0.840 (+4.633%) Short selling $72.12M; Ratio 20.586% rising more than 4%, while LI AUTO-W (02015.HK) +1.520 (+3.251%) Short selling $54.79M; Ratio 21.179% gained 3.25%. Pharmaceutical stocks outperformed, with CSPC PHARMA (01093.HK) +0.550 (+7.015%) Short selling $275.11M; Ratio 31.226% rising 7.02%; WUXI APPTEC (02359.HK) +9.300 (+6.242%) Short selling $238.47M; Ratio 40.125% jumping 6.24%; SBP GROUP (01177.HK) +0.310 (+6.200%) Short selling $132.56M; Ratio 24.787% gaining 6.2%; WUXI BIO (02269.HK) +2.040 (+5.505%) Short selling $278.34M; Ratio 22.706% rising 5.5%; and INNOVENT BIO (01801.HK) +4.400 (+5.096%) Short selling $191.17M; Ratio 26.252% advancing about 5.1%. Hong Kong's two major AI large model companies conducted share placings after lock-up expirations this week. MINIMAX-W (00100.HK) -36.600 (-12.307%) Short selling $357.46M; Ratio 15.074% announced plans for a share placement and issuance of zero-coupon guaranteed convertible bonds, with its stock closing down 12.31% by midday. KNOWLEDGE ATLAS (02513.HK) -240.000 (-11.811%) Short selling $482.57M; Ratio 6.251% , which announced a share placement fundraising yesterday, also dropped 11.81%. 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