<div id="readability-page-1"><div>Driven by strong global demand for chip stocks, the HSI rebounded today and regained the 26,000 level. With the return of southbound funds, market turnover increased to HKD304.7 billion. Boosted by a sharp rally in artificial intelligence (AI) chip stocks, the DJIA and Nasdaq rose 0.7% and 1% overnight. At the time of writing, the US 2-year Treasury yield fell to 3.872%, while the US 10-year Treasury yield dropped to 4.348%. The US Dollar Index declined 0.5% to 97.96. DJIA futures last rose 181 points or 0.37%, and Nasdaq futures climbed 289 points or 1%. After reopening following the &#34;May Day&#34; holiday, the Shanghai Composite Index gained 48 points or 1.2% to close at 4,160. The Shenzhen Component Index rose 2.3%, and the ChiNext Index increased 2.8%. Combined turnover on the Shanghai and Shenzhen exchanges totaled RMB3.23 trillion.The HSI opened 131 points higher and extended gains to close at the days peak of 26,213, up 315 points or 1.2%. The HSCEI rose 70 points or 0.8% to 8,800, while the HSTECH climbed 39 points or 1.8% to 4,969. Total market turnover for the day was HKD304.737 billion. Southbound trading turnover amounted to HKD138.449 billion, with a net outflow of HKD8.565 billion. TENCENT (00700.HK) -9.200 (-1.948%) Short selling $1.44B; Ratio 7.007% bucked the trend, slipping 1.9% to HKD463, with turnover close to HKD20.6 billion.Spot gold surged nearly 3.1% to USD4,700 per ounce. SD GOLD (01787.HK) +2.040 (+7.317%) Short selling $18.79M; Ratio 4.642% and ZIJIN GOLD INTL (02259.HK) +11.400 (+7.600%) Short selling $133.35M; Ratio 11.157% jumped over 7%, while CHINAGOLDINTL (02099.HK) +9.700 (+5.875%) Short selling $55.67M; Ratio 14.076% and ZIJIN MINING (02899.HK) +1.800 (+5.070%) Short selling $535.66M; Ratio 22.206% rose over 5%. ZHAOJIN MINING (01818.HK) +1.160 (+4.161%) Short selling $53.53M; Ratio 11.138% gained 4.2%.Gold Stocks Rally; Chip Stocks SurgeGlobal chip stocks were in strong demand. After Advanced Micro Devices, Inc. (AMD.US) rose 4% overnight, its shares further surged 17% in after-hours trading to USD415.89. The company reported a 95% increase in 1Q earnings. Citi said AMDs 1Q results and 2Q guidance both beat expectations. In S Korea, Samsung Electronics and SK Hynix both rebounded more than 10%. In the A-share market, CAMBRICON (688256.SH) +125.040 (+7.355%) rose 7.4% to RMB1,825, while leading domestic CPU maker HYGON INFORMATION (688041.SH) +48.160 (+16.257%) soared nearly 16.3%.Related Hong Kong stocks also advanced. BABA-W (09988.HK) +3.000 (+2.287%) Short selling $2.93B; Ratio 18.750% , which owns the AI chip unit T-Head, gained 2.3% to HKD134.2, with turnover of HKD15.6 billion. BIDU-SW (09888.HK) +6.200 (+4.944%) Short selling $1.01B; Ratio 34.917% , which operates the Kunlun chip business, rose 4.9% to HKD131.6. SMIC (00981.HK) +4.050 (+5.720%) Short selling $1.89B; Ratio 11.444% and HUA HONG SEMI (01347.HK) +11.100 (+9.328%) Short selling $679.53M; Ratio 11.467% climbed 5.7% and 9.3%, respectively. GIGADEVICE (03986.HK) +67.500 (+14.485%) and BIREN TECH (06082.HK) +4.000 (+8.511%) Short selling $36.68M; Ratio 5.281% jumped 14.5% and 8.5%, while MONTAGE TECH (06809.HK) +46.200 (+16.776%) surged 16.8%. Chip equipment maker ASMPT (00522.HK) +10.300 (+6.307%) Short selling $67.39M; Ratio 7.519% rose 6.3%, and KB LAMINATES (01888.HK) +2.160 (+6.000%) Short selling $248.17M; Ratio 13.110% gained 6%. LENOVO GROUP (00992.HK) +0.510 (+4.381%) Short selling $607.51M; Ratio 36.123% advanced nearly 4.4%.1,100 Stocks Rise; CN Home Stocks AdvanceMarket breadth improved, with the main board advancing-to-declining ratio at 28 to 23 (previous day: 20 to 30). A total of 1,182 stocks rose (3%), while 67 HSI constituents advanced and 22 declined, with a ratio of 74 to 24 (previous day: 33 to 63). Short selling amounted to HKD47.736 billion, accounting for 17.795% of turnover of HKD268.261 billion in securities eligible for short selling.Banking stocks HSBC HOLDINGS (00005.HK) +4.500 (+3.309%) Short selling $654.16M; Ratio 21.061% and STANCHART (02888.HK) +9.400 (+4.891%) Short selling $19.17M; Ratio 6.586% rose 3.3% and 4.9%, respectively. JPM noted that HSBC HOLDINGS 1Q results were mixed, but believed the share price had overcorrected, partly due to overly high expectations following STANCHARTs results and concerns over exposure to private credit markets after a USD400 million expected credit loss provision related to fraud. JPM said key takeaways from HSBC HOLDINGS earnings call were broadly positive, and the risk of a sharp increase in credit costs due to Middle East tensions and fraud incidents appeared low.CN Home stocks advanced. YUEXIU PROPERTY (00123.HK) +0.310 (+8.010%) Short selling $12.45M; Ratio 11.081% and CHINA JINMAO (00817.HK) +0.130 (+7.738%) Short selling $19.79M; Ratio 9.552% rose 8% and 7.7%, respectively. CHINA OVERSEAS (00688.HK) +0.980 (+7.005%) Short selling $298.44M; Ratio 22.171% , GREENTOWN CHINA (03900.HK) +0.590 (+6.127%) Short selling $28.43M; Ratio 15.492% and CHINA RES LAND (01109.HK) +2.220 (+6.703%) Short selling $355.67M; Ratio 24.909% gained between 6.1% and 7%. Huadu District in Guangzhou announced subsidies for swapping purchases of commercial residential properties starting immediately, with a maximum subsidy of RMB20,000 per unit.This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.</div></div>

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Hong Kong stocks rose, with the Hang Seng Index (HSI) closing at 26,213, up 315 points or 1.2%. Market turnover reached HKD304.7 billion, despite a net outflow of HKD8.565 billion from southbound funds. Chip stocks surged, driven by strong global demand, with notable gains from AMD and local firms like SMIC and HUA HONG SEMI. The market breadth improved, with 1,182 stocks rising. Banking stocks also saw gains, while short selling accounted for 17.8% of turnover. Spot gold increased nearly 3.1% to USD4,700 per ounce.

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HK Stocks Rise with Turnover HKD304.7 Billion but Southbound Funds Net Outflow HKD8.565 Billion; Chip Stocks Surge