Weekly Recap | BIDU-W -2.52%, Stock Connect debut fades
Weekly Review·
- Baidu Group-W (9888.HK) experienced a volatile trading week, accumulating a 2.52% decline to close at 89.1 HKD while underperforming the Hang Seng Index by 0.13 percentage points.
- The primary market catalyst was the inclusion of Baidu's Class A ordinary shares in the Stock Connect scheme, which initially triggered high volatility before the stock retraced alongside broader tech sector weakness.
- Despite the weekly pullback and varied institutional target prices averaging 150.89 HKD, 16 covering institutions maintained a consensus strong buy rating driven by low valuations and ongoing share buybacks.