"Hong Kong Stocks" The Hang Seng Index closed up 149 points, Baidu surged 5%, and insurance stocks showed significant gains

Mainland stock markets rose, with the Shanghai Composite Index up 0.7%, boosting Hong Kong stocks. The Hang Seng Index opened 102 points lower, initially falling 177 points to a low of 25,758 points before rebounding. During the afternoon session, it rose 195 points to a high of 26,131 points, closing up 149 points or 0.6% at 26,085 points; the Hang Seng China Enterprises Index rose 91 points or 1%, closing at 9,198 points; the Hang Seng TECH Index rose 47 points or 0.8%, closing at 5,662 points. The total turnover for the day was HKD 210.473 billion.

After the market close, the Hang Seng Index company changed its constituents. Next week, the newly included Xinda Biologics (01801.HK) fell 1.7%, while the newly included Leapmotor (09863.HK) rose 0.8%. ASMPT (00522.HK), which will be removed from the index, rose 0.7%. Yum China (09987.HK), which will be included in the Hang Seng China Enterprises Index next week, fell 1.6%.

Robot concept stocks UBTECH (09880.HK) and Sihua Intelligent Control (02050.HK) rose 2.5% and 2.6%, respectively, while Yujian (02432.HK) rose 4.1%. In other tech stocks, Alibaba (09988.HK), Meituan (03690.HK), JD.com (09618.HK), NetEase (09999.HK), and Bilibili (09626.HK) rose between 0.4% and 1%. Tencent (00700.HK) fell 0.3%, while Xiaomi (01810.HK) and Kuaishou (01024.HK) rose 1.9% and 2.5%. Media reports indicated that Baidu (09888.HK) plans to spin off Kunlun Chips for an IPO, causing Baidu's stock price to surge by 5%. Among chip stocks, SMIC (00981.HK) fell 0.1%. Additionally, Dongfang Zhenxuan (01797.HK) rose 4.6%, while Weimob (02013.HK), Kingdee (00268.HK), Ping An Good Doctor (01833.HK), and New Oriental (09901.HK) rose between 2.8% and 3.7%.

Swiss commodity trader Mercuria reportedly plans to withdraw over 40,000 tons of copper from LME warehouses, leading to gains in metal stocks. Jiangxi Copper (00358.HK), Chalco (02600.HK), and Luoyang Molybdenum (03993.HK) rose between 4.9% and 6.1%, while Minmetals Resources (01208.HK) and Zijin Mining (02899.HK) rose 3.3% and 3.6%, respectively. Zhaojin Mining (01818.HK) rose 2.9%.

Chinese financial stocks gained momentum in the afternoon, with domestic insurance stocks China Taiping (00966.HK) and Ping An (02318.HK) rising 7.1% and 6.7%, respectively. China Life (02628.HK) and China Pacific Insurance (02601.HK) rose over 5%. Domestic brokerage stocks Huatai (06886.HK) and GF Securities (01776.HK) rose 3.6% and 3.2%, respectively. Domestic bank stock China Merchants Bank (03968.HK) rose 2.1% In other financial stocks, HSBC (00005.HK) and AIA (01299.HK) fell by 0.4% and 0.9%, while Hong Kong Exchanges and Clearing (00388.HK) rose by 0.2%.

In the automotive sector, BYD (01211.HK) fell by 0.8% to HKD 99.15, while XPeng (09868.HK) and Nio (09866.HK) rebounded by over 2%. Autonomous driving developers WeRide (00800.HK) and Pony.ai (02026.HK) rose by 5.2% and 4.5%, respectively, while battery stock CATL (03750.HK) rose by 1.5%. In the consumer sector, Tsim Sha Tsui (06110.HK) fell by 3.9%, while Vitasoy (00345.HK) and China Southern Airlines (01055.HK) each fell by over 3%. In the textile sector, Shenzhou International (02313.HK) fell by 3.4%, as the stock was downgraded by Citigroup with a lower earnings forecast and target price. In other stocks, wind power stock Goldwind (02208.HK) rose by 6%, as the stock received a positive report from HSBC. In the construction machinery sector, Zoomlion (01157.HK) and China Longgong (03339.HK) rose by 5.1% and 4%, respectively, while real estate stock New World Development (00017.HK) rose by 4.9%