UBTENCT@EC2706A

HANG YICK HLDGS

LINK HOLDINGS

EDA GROUP HLDGS

HING LEE (HK)

GLOBALSTRAT

CH FRONTIER TEC

HAO BAI INTL

TSE SUI LUEN

KIN SHING HLDGS

00700

TCTZF

03690

MPNGY

PROSF

TCEHY

PROSY

Prosus, a subsidiary of Naspers, reduced its holdings in Tencent by approximately 13 million shares in the first quarter of 2023, valued at about 7.28 billion yuan, without reducing its stake in Meituan. The stock prices of Tencent and Meituan are 511 yuan and 88.8 yuan, respectively, having fallen by 14.7% and 14% this year. Since 2022, Prosus has initiated an unlimited reduction plan for Tencent, aimed at repurchasing its own shares, with funding sources including the reduction of Tencent and the sale of other investments

- Prosus, a flagship internet arm of Naspers, sold approximately 13 million shares of Tencent in Q1 of this year, valued at about 7.28 billion HKD based on an average closing price of 560.16 HKD.  
- In contrast, Prosus did not reduce its stake in Meituan during the same period.  
- Tencent and Meituan's stock prices have declined by 14.7% and 14% respectively this year, while Prosus has aimed to generate funds for share buybacks through the sale of Tencent shares and less promising investments.

Stheadline

TENCENT

Tencent Holdings Limited

MEITUAN

Meituan

Prosus N.V.

Tencent

Prosus, a subsidiary of Naspers, reduced its holdings by 13 million shares of Tencent in the first quarter, without selling any shares of Meituan

BABA

XIACY

09988

BABX

02828

KBAB

02800

The short selling amount in the Hong Kong stock market reached HKD 19.07 billion in the first half of the day, accounting for 24.5% of the total shortable stock turnover of HKD 77.78 billion. The main shorted stocks include TRACKER FUND, Alibaba, Tencent Holdings, Xiaomi Corporation, and HSCEI ETF, with short selling ratios of 56.3%, 37.2%, 23.1%, 40.3%, and 55%, respectively

AASTOCKS

Alibaba

Xiaomi Corporation

BABA-W

BABA 2x Long Daily ETF - GraniteShares

HSCEI ETF

KraneShares 2x Long BABA Daily ETF

TRACKER FUND

The short selling in Hong Kong stocks for half a day amounted to HKD 19.07 billion, accounting for 24.5% of the total turnover of shortable shares

03317

02513

01024

As of noon, the three major indices of the Hong Kong stock market have collectively entered a correction, with the Hang Seng Tech Index leading the decline, putting short-term pressure on market sentiment. On the market, AI computing power and large model sectors performed remarkably, becoming the core track for capital inflows against the trend. Leaders XunCe and ZhiPu both surged significantly, effectively offsetting the impact of the weakening of tech blue chips, reflecting the market's high recognition of hard technology and innovation sectors

- As of April 9, Hong Kong's stock market indices faced a collective decline, with the Hang Seng Index down 0.35% at 25,801.87 points.  
- The technology sector exhibited significant divergence; while AI-related stocks like XunCe and ZhiPu rose sharply, leading firms in internet content like Kuaishou fell, indicating cautious sentiment in advertisement growth.  
- Market focus shifted to AI innovations and high-growth stocks amid macroeconomic fluctuations, with increasing scrutiny on international trade and structural investment opportunities.

LB Select

XUNCE

KNOWLEDGE ATLAS

KUAISHOU-W

Hong Kong Stock Midday Review | Hang Seng Index slightly fell by 0.35%, technology sector performance varied, AI computing power rose against the trend, XunCe surged by 15.58%

NTES

09999

09899

Under China's unique game licensing system, AI is not a disruptor to existing major operators but an amplifier of their competitive advantages. Licensing barriers block the impact of massive new games, allowing large companies to steadily enjoy the huge benefits of AI in cost reduction, efficiency improvement, and revitalizing existing user bases. JPMorgan believes the recent valuation compression experienced by companies like Tencent and NetEase is a market misjudgment

- Morgan Stanley asserts that the recent valuation decline of major Chinese gaming operators like Tencent and NetEase reflects a misunderstanding of AI's impact within China's unique regulatory environment.  
- Unlike in open markets, China's strict licensing system limits new game approvals, making AI a tool that amplifies existing operators' advantages rather than disrupts them.  
- As the narrative shifts from viewing AI as a threat to recognizing its role in strengthening established companies, Tencent and NetEase could see significant valuation increases.

Wallstreetcn

NetEase

NTES-S

NETEASE MUSIC

AI Disrupting China's Online Gaming? JPMorgan: Market Is Ignoring the Real Moat

KWEB

MCHI

512380

- Russia aims to develop its Max messaging app using Tencent’s WeChat and Douyin as models, according to VK CEO Vladimir Kiriyenko.  
- The Kremlin is pushing Max to compete with Telegram, which remains popular due to its advanced functionality and diverse services.  
- Kiriyenko highlighted the importance of creating an open platform for third-party integrations to enhance business services, noting that 500,000 companies have already registered on Max.

Reuters

Krne Csi China Internet

iShares MSCI China

Yinhua MSCI China A ETF

Russia sees China's WeChat, Douyin as models for its homegrown Max messenger

HSBC Global Research initiates coverage on KNOWLEDGE ATLAS and MiniMax, assigning both a "Hold" rating with target prices of 920 yuan and 1,000 yuan, respectively. The report notes that despite market skepticism regarding the monetization potential of artificial intelligence, Tencent and Alibaba still have an upside of 8% to 11% in revenue, maintaining a "Buy" rating with target prices of 750 yuan and 180 USD

MINIMAX-W

Hwabao CSI HK Equities Internet ETF

E Fund CSI HK Connect Internet ETF

YieldMax BABA Option Income Strategy ETF

HSBC Research initiates a "Hold" rating on KNOWLEDGE ATLAS and MiniMax, expecting Tencent and Alibaba's revenues to still have upside potential

HSBC Global Research maintains a target price of HKD 750 for Tencent, believing that the market's concerns about the monetization potential of artificial intelligence may be misplaced. The report points out that Tencent performs best in consumer-side AI monetization, with WeChat's high stickiness and usage frequency serving as its moat. It is expected that advertising, e-commerce commissions, and payment transaction fees will become long-term sources of monetization, while Tencent Cloud revenue is also accelerating growth

HSBC Research maintains Tencent's target price at 750 yuan, optimistic about AI monetization potential

JNUG

03033

After the Easter and Qingming Festival holidays, the Hong Kong stock market reopened, with the Hang Seng Index rising 705 points to close at 25,821 points, the National Index up 199 points, and the Hang Seng Tech Index up 206 points. CNOOC fell over 3%, making it the worst-performing blue-chip stock. Technology stocks performed well, with Meituan rising 9.8% as the best blue-chip stock, and Tencent and Alibaba rising 3.1% and 4.5%, respectively. Gold mining stocks and resource stocks generally rose, with a total turnover of HKD 200.504 billion

Direxion Daily Jr Gold Miners Bull 2X

Pro Ultr GLD

Agnico Eagle Mines

Roundhill Gold Miners Weeklypay ETF

ChinaAMC Gold ETF

Sprott GLD Miners Etf

EFUND GOLD MI-U

CSOP HS TECH

Kinross Gold

Zijin Mining

Hang Seng Index

ChinaAMC CSI SH-SZ-HK Gold Industry Equity ETF

SPDR Gold Shares

Sprott JR Gold Miners ETF

VanEck Junior Gold Miners ETF

Us Gbl GLD & Met

EFUND GOLD MI-R

SD-GOLD

ZHONGJIN GOLD

iShares MSCI Global Gold Miners

Direxion Daily Gold Miners Bull 2X

SPDR Gold Minishares

iShares Gold Trust

GLOBAL X Gold Explorers

Hang Seng TECH Index

YieldMax Gold Miners Opt Inc Strgy ETF

VanEck Gold Miners ETF

Abrdn Gold ETF Trust

"Hong Kong Stocks" The Hang Seng Index rose 705 points in the half-day, with technology and gold mining stocks performing well, while CNOOC fell over 3%

01729

06088

01617

00883

00005

As of the close, the three major Hong Kong stock indices collectively rebounded, and market sentiment recovered significantly. The HSI returned to the 25,000-point mark, with the technology index outperforming the broader market, sweeping away the previous adjustment phase. In the market, the technology hardware and communication equipment sectors were extremely active throughout the day, becoming the absolute main attractors of capital. Leaders ILUVATAR COREX and YOFC surged on heavy volume, successfully driving resonance across the domestic AI chip and optical communication industry chains, reflecting a strong investor preference for high-prosperity sectors

- As of market close, Hong Kong's three major indices rebounded, with the Hang Seng Index rising 2.81% to 25,821.88 points.  
- The technology hardware and communication equipment sectors saw significant gains, with notable individual stocks like Tensu ZhiXin up by 29.48%.  
- Investors are increasingly focused on macroeconomic indicators, affecting market structure and trading activity as they seek opportunities in sectors with high growth potential.

TIME INTERCON

FIT HON TENG

NANFANG COMM

YOFC

ILUVATAR COREX

XIAOMI-W

CNOOC

POP MART

SMIC

HSBC HOLDINGS

Hong Kong Stocks Midday Review | HSI Surges 2.81% to Steady Above 25,000 Mark; Tech Hardware Strong Throughout the Day, ILUVATAR COREX Soars 29.48%

600938

Goldman Sachs report shows that last week, net inflows of southbound funds into Hong Kong stocks amounted to USD 3.2 billion, with major net purchases including Tencent (USD 352 million), Xiaomi (USD 260 million), and HSCEI ETF (USD 180 million). The main net outflows were from CNOOC (-USD 634 million), CSOP HS TECH (-USD 268 million), and Alibaba (-USD 262 million)

Goldman Sachs lists the major net buying and selling list of southbound funds for Hong Kong stocks last week (Table)

517770

ESPO

516010

JP Morgan's research report points out that although the market is concerned that artificial intelligence will disrupt China's online gaming industry, in reality, the application of AI will benefit large operators such as Tencent and Nio. The report believes that AI will help these companies update their game portfolios, integrate production processes, attract small creators, and enhance functions such as anti-cheating and player retention. JP Morgan has rated Tencent and Nio as "overweight," believing that the market's downgrade of these two companies is incorrect

AXA SPDB CSI Hugangshen Game and Culture Media ETF

VanEck Video Gaming and eSport ETF

Guotai CSI Animation Game ETF

iShares China Large Cap

"Big Banks" JP Morgan: The game license system becomes a moat, Tencent and NetEase will become beneficiaries of AI

After the Easter and Qingming Festival holidays, the Hong Kong stock market reopened, with the Hang Seng Index opening up 656 points or 2.6%, at 25,772 points. The National Index and the Hang Seng Tech Index opened up 141 points and 137 points, respectively. CNOOC opened down 5.3%, making it the worst-performing blue-chip stock. In the financial sector, HSBC opened up 6.2%. Technology stocks generally rose, with Tencent opening up 3.1% and Alibaba opening up 2.9%. AI stock KNOWLEDGE ATLAS opened up 14.9%. Overall market performance was positive

"Hong Kong Stocks" Hang Seng Index opened high at 656 points, HSBC rose over 6%, CNOOC fell over 5%

688256

DeepSeek V4 is expected to be released in a few weeks, with Alibaba, ByteDance, and Tencent placing orders for hundreds of thousands of chips from Huawei. The model collaborates with Huawei and Cambricon to rewrite the underlying code and conduct testing, while also developing two derivative models tailored for different functions, specifically designed for domestic chips

Cambricon

VanEck Semiconductor ETF

ChinaAMC SSE STAR Semiconductor Material & Equipment Thematic ETF

Guotai CSI Computer Theme ETF

GTJA Allianz CSI All Share Semiconductors & Semiconductor Equipment ETF

GTJA Allianz SSE STAR Chip Design Thematic ETF

iShares Semiconductor ETF

Direxion FTSE China Bull 3X

Invesco Semiconductors ETF

China Southern CSI Semiconductor Industry Custom ETF

Tianhong CSI Computer Theme ETF

ChinaAMC Guozheng Semiconductor Chip ETF

Guotai CES Semiconductor Chip Industry ETF

It is reported that DeepSeek V4 will be announced in the coming weeks, featuring Huawei chips

In 2026, AI agents are no longer a buzzword. Claude Code, Cursor, Gemini CLI — developers and investors are now using natural language to pull market data, place orders, and parse earnings reports. A broker's API is no longer just a tool for quant teams; it's become the last-mile nerve ending connecting every AI tool to the financial world. Both Longbridge and Futu have stepped up with their own Skills offerings — but their architectural philosophies diverge from the very first line of code...

FUTU-W

Futu

Alphabet - C

Alphabet

TENCENT-R

Tencent HK SDR 10to1

Longbridge Skills vs. Futu Skills: The Battle for Broker Infrastructure in the AI Era — One Is Moving with the Times, the Other Still Ships an Installer

Patty

Current rate of return reached top 90% of users
Calculated based on  your Longbridge (Singapore) A/C

Rate Of Return

China tech should be well supported by the government. It is in the country’s interest that the local tech sector be vibrant and strong enough to stand up to the behemoths from US.

Heroic Lifesaver

Total asset size ranks among the top 2% of account holders
Calculated based on  your Longbridge (Singapore) A/C

Total Assets

Current rate of return reached top 3% of users
Calculated based on  your Longbridge (Singapore) A/C

📈 Share your trades, earn SGD $2 per post! 
How to join: post your P/L + 20-word insight in English
Learn, connect, and cash in! 🚀

📈 Share your trades, earn SGD $2 per post! How to join: post your P/L + 20-word insight in English Learn, connect, and cash in! 🚀

Trade Showcase

$ISHARESHSTECH(03067.HK)I keep investing regularly (DCA) into this ETF because I believe:❤️China’s tech sector will grow over the long term.❤️Prices are still relatively cheap after the past downturn.❤️It is an easy way to invest in the whole tech sector and not just one company.The ETF includes major companies like Tencent, Alibaba, Meituan, Xiaomi, BYD, and NetEase.I see this as one of the cheapest ways to invest in an entire sector, while also lowering risk compared to buying just one stock.

ISHARESHSTECH

NTES ADR US

智谱

Conference Minutes

Below is Dolphin Research's Trans of Zhipu's FY2025 earnings call. I. Core financial highlights.1) Rapid revenue growth: FY2025 revenue reached RMB 724 mn (+132% YoY). The cloud open platform and API businesses accounted for 26.3% of total revenue.2) API ARR inflection: As of Mar 2026, API ARR reached $250 mn, up 60x over the past 12 months. Pricing per API call rose 83% vs. Dec 2025, with demand increasing after the price hike...

Zhipu (Trans): Tech-Driven, Focus on Advancing the Model Frontier

Today’s Key News Recap

0331 | Dolphin Focus: 🐬 Macro/Industry 1) NBS reported Mar Mfg PMI at 50.4%, up 140bps MoM and back in expansion. The non-manufacturing business activity index was 50.1%, up 60bps MoM, marking a second straight month of recovery.Production and new orders both stayed in expansion, while SME sentiment improved notably. This points to a rapid post-CNY rebound in manufacturing.2) Trump told aides he would be willing to halt military ops against Iran even if the Strait of Hormuz is not fully reopened. He would prioritize the goal of 'degrading Iran's naval and missile capabilities'...

BABA-WR

EASTROC

EASTROC BEVERAGE

BOE VARITRONIX

Sungrow Power Supply

iQIYI

Alibaba HK SDR 5to1

Uber Tech

Tencent ramps up AI agents; BABA unveils Qwen3.5-Omni | Daily News Recap

Featured

$BIDU-SW(09888.HK)Baidu Oversold or Just Getting Started? The charts are telling a heavy story for Baidu right now. Looking at the 1H or the 4H timeframe, the bears are firmly in the driver’s seat. Here’s the breakdown:The Technical Snapshot ❤️Bollinger Bands: Price is currently “riding” the lower band. On the 4H chart, Baidu is struggling to even sniff the 20 SMA (middle blue line), which is acting as a heavy ceiling.❤️RSI Levels: The RSI is hovering in the 32–38 range. While technically “oversold” but are not at their most extreme lows seen in the very recent past (within the last 14 trading days). There is no sign of buying conviction yet at the $108 HKD level.❤️Price Action: It has broken through key support at $112. That level has now flipped to resistance, suggesting further technical room for further downside momentum today.The Fundamentals Behind these red candles, three core pillars are keeping investors cautious:• AI Monetization Lag: Baidu leads the “Ernie Bot” race, but the market is waiting for AI to move the needle on the bottom line. High R&amp;D costs are currently overshadowing the hype.• Ad Spending Slowdown: Baidu, a search centric business, is a proxy for the Chinese economy. A sluggish consumer recovery means tighter marketing budgets and hit revenues.• Cloud Competition: Brutal price wars with giants like Alibaba and Tencent are squeezing margins, making it harder to pivot away from search ads.My Verdict Baidu is fundamentally “cheap” on paper with a low P/E but the chart shows a “falling knife” scenario. I am staying cautious until we see a break above the 4H 20 SMA and a stabilization of the Chinese macro outlook.📍 Support to watch: ~$103.5 – $105 HKD📍 Resistance to clear: ~$115 HKDTrade safety and stay vigilant.

BIDU ADR US

UBTENCT@EC2706A(27993.HK)

UBTENCT@EC2706A Stock Performance Chart

Prosus, a subsidiary of Naspers, reduced its holdings by 13 million shares of Tencent in the first quarter, without selling any shares of Meituan

The short selling in Hong Kong stocks for half a day amounted to HKD 19.07 billion, accounting for 24.5% of the total turnover of shortable shares

Hong Kong Stock Midday Review | Hang Seng Index slightly fell by 0.35%, technology sector performance varied, AI computing power rose against the trend, XunCe surged by 15.58%

AI Disrupting China's Online Gaming? JPMorgan: Market Is Ignoring the Real Moat

Russia sees China's WeChat, Douyin as models for its homegrown Max messenger