--- title: "HK Midday: Hang Seng Flat; Xiaomi Surges Over 6%, Baidu Plunges Nearly 13%, Semiconductor Stocks Tumble" type: "News" locale: "en" url: "https://longbridge.com/en/news/296310610.md" description: "Hang Seng was little changed while the Hang Seng TECH Index fell 1.39%. Xiaomi rallied over 6% after Barclays called its AI strategy \"severely undervalued,\" Baidu slumped nearly 13%, and Hua Hong Semiconductor sank over 13%." datetime: "2026-08-19T06:17:32.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/296310610.md) - [en](https://longbridge.com/en/news/296310610.md) - [zh-HK](https://longbridge.com/zh-HK/news/296310610.md) generator: "portal-rs" --- # HK Midday: Hang Seng Flat; Xiaomi Surges Over 6%, Baidu Plunges Nearly 13%, Semiconductor Stocks Tumble Hong Kong's three major indexes diverged in midday trading on August 19. The Hang Seng Index was nearly flat at **25,471.74** points, with turnover of approximately **HK$174.8 billion**. The Hang Seng TECH Index fell **1.39%** to **4,673.54** points, while the HSCEI edged up **0.30%** to **8,478.56** points. On the stock front, Xiaomi surged over **6%** after Barclays highlighted its undervalued AI strategy, while Baidu led tech losers with a nearly **13%** plunge. The semiconductor sector suffered a broad sell-off — Hua Hong Semiconductor tumbled over **13%** and SMIC dropped nearly **6%**. Mainland banks and insurers bucked the trend, with ICBC and Bank of China both rising close to **2%**. **Xiaomi Jumps Over 6% as Barclays Says AI Strategy "Severely Undervalued"** As of the latest update, Xiaomi Corp-W (**01810.HK**) surged over **6%** to **HK$27.76**, with turnover exceeding **HK$7.2 billion**, making it one of the most actively traded stocks in the session. Meituan-W (**03690.HK**) gained over **2%** to **HK$87.60**, while Tencent Holdings (**00700.HK**) rose over **1%** to **HK$448.40**. In a newly released report, Barclays argued that Xiaomi's AI strategy is "severely undervalued" by the market — its hardware ecosystem spanning smartphones, home appliances and electric vehicles is building a differentiated AI matrix, yet this strategic value is barely priced into the stock. The bank maintained an Overweight rating with a target price of **US$30**, implying an **82%** upside from current levels. Separately, Xiaomi's EV deliveries have exceeded expectations and its smartphone average selling price hit a record high. **Baidu Plunges Nearly 13%; Semiconductor Stocks Tumble Across the Board** As of the latest update, Baidu Group-SW (**09888.HK**) slumped nearly **13%** to **HK$88.20**, with turnover of over **HK$2.2 billion**. In the semiconductor sector, Hua Hong Semiconductor (**01347.HK**) sank over **13%** to **HK$111.70** on turnover of more than **HK$7.2 billion**, while SMIC (**00981.HK**) dropped nearly **6%** to **HK$71.35** with turnover surpassing **HK$7.8 billion**. Risk-off sentiment swept across Asia-Pacific markets, with Samsung Electronics and SK Hynix both plunging over **7%** in Seoul, where the KOSPI tumbled roughly **6%** to lead regional losses. In A-shares, the semiconductor and AI hardware supply chain underwent a sharp correction, led by PCB, CPO and memory-related names. Additionally, Cerebras Systems unveiled its new CS-4 computer, claiming AI generation speeds several times faster than Nvidia's hardware, intensifying the competitive dynamics in AI hardware. **Mainland Banks and Insurers Buck the Trend; ICBC and Bank of China Rise Nearly 2%** As of the latest update, Industrial and Commercial Bank of China (**01398.HK**) rose nearly **2%** to **HK$7.40**; Bank of China (**03988.HK**) gained nearly **2%** to **HK$5.42**; China Merchants Bank (**03968.HK**) advanced nearly **2%** to **HK$48.80**. Among insurers, Ping An Insurance (**02318.HK**) edged higher to **HK$54.05**, while China Life Insurance (**02628.HK**) inched up to **HK$26.98**. Banking stocks were also active in the A-share market, standing out as one of the few sectors in positive territory. Invesco strategists noted that persistently rising long-term US interest rates are reducing the need for further Federal Reserve rate hikes, with the bond market effectively tightening financial conditions. Elsewhere, gold and resources stocks broadly declined — Zijin Mining Group (**02899.HK**) fell over **2%** and CMOC Group (**03993.HK**) dropped nearly **4%**. The new energy vehicle sector saw mild adjustments, with XPeng-W (**09868.HK**) down over **3%** and BYD Company (**01211.HK**) slightly lower. CNOOC (**00883.HK**) edged up to **HK$24.56**. ### Related Stocks - [01810.HK](https://longbridge.com/en/quote/01810.HK.md) - [09888.HK](https://longbridge.com/en/quote/09888.HK.md) - [01347.HK](https://longbridge.com/en/quote/01347.HK.md) - [03690.HK](https://longbridge.com/en/quote/03690.HK.md) - [01398.HK](https://longbridge.com/en/quote/01398.HK.md) - [03988.HK](https://longbridge.com/en/quote/03988.HK.md) - [03968.HK](https://longbridge.com/en/quote/03968.HK.md) - [02318.HK](https://longbridge.com/en/quote/02318.HK.md) - [02628.HK](https://longbridge.com/en/quote/02628.HK.md) - [02899.HK](https://longbridge.com/en/quote/02899.HK.md) - [03993.HK](https://longbridge.com/en/quote/03993.HK.md) - [09868.HK](https://longbridge.com/en/quote/09868.HK.md) - [01211.HK](https://longbridge.com/en/quote/01211.HK.md) ## Related News & Research - [Xpeng G9L China launch event set for September 17](https://longbridge.com/en/news/298850538.md) - [BYD UK expands aftersales support](https://longbridge.com/en/news/298473992.md) - [BYD Denza launches all-electric N8L with 960-km range](https://longbridge.com/en/news/298937498.md) - [BYD brings ETT 44 electric truck to Europe](https://longbridge.com/en/news/298934929.md) - [BYD Denza adds Z9GT variant, lowering entry price for e3 tri-motor tech](https://longbridge.com/en/news/298414447.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**