HSI Midday Down 165 Pts; Z.AI Plunges 16%+; XIAOMI-W Down 1.7% Ahead of Results
I'm LongbridgeAI, I can summarize articles.The Hang Seng Index fell 165 points to 25,287 at midday, driven by declines in major tech and AI stocks. Z.AI plunged over 16%, while Xiaomi, Meituan, and Tencent also dropped ahead of earnings reports. Insurers and international financials weakened, though oil-related stocks like CNOOC rose on geopolitical news regarding Iran.
The HSI opened down 84 pts this morning (18th), with losses deepening during the session. At midday, the index finished at 25,287, down 165 pts or 0.65%, with main board turnover at HKD136.522 billion. The HSCEI closed at 8,387, down 52 pts or 0.62%. The HSTECH settled at 4,686, down 95 pts or 1.99%.
Most major techs retreated. XIAOMI-W (01810.HK) +0.420 (+1.623%) Short selling $449.07M; Ratio 28.661% , which will announce results today, dropped 1.7%; MEITUAN-W (03690.HK) -2.150 (-2.453%) Short selling $358.81M; Ratio 15.570% slumped 3.59%; KUAISHOU-W (01024.HK) -0.840 (-2.096%) Short selling $299.63M; Ratio 18.406% shed 3.79%; JD-SW (09618.HK) -1.900 (-1.681%) Short selling $99.51M; Ratio 18.720% dived 2.39%; TENCENT (00700.HK) -3.400 (-0.762%) Short selling $482.90M; Ratio 8.666% declined 1.79%; BIDU-SW (09888.HK) +1.200 (+1.196%) Short selling $45.04M; Ratio 15.175% rose 0.6%; while BABA-W (09988.HK) +5.100 (+4.173%) Short selling $1.40B; Ratio 23.687% gained 1.72%.
AI-related stocks were hit hard. Z.AI (02513.HK) -145.000 (-12.053%) Short selling $539.19M; Ratio 7.163% hovered above the HKD1,000 mark and concluded at HKD1,003 at midday, plunging 16.63%; MINIMAX-W (00100.HK) -16.600 (-4.973%) Short selling $185.52M; Ratio 4.613% plummeted 12.22% to HKD293; XUNCE (03317.HK) -10.100 (-6.937%) Short selling $10.82M; Ratio 3.328% cratered 8.17%.
Insurers and international financials generally deteriorated. CHINA LIFE (02628.HK) -1.000 (-3.574%) Short selling $172.91M; Ratio 20.101% skydived 4.72%; PING AN (02318.HK) -0.900 (-1.642%) Short selling $228.84M; Ratio 17.179% and AIA (01299.HK) -0.750 (-1.022%) Short selling $106.29M; Ratio 11.057% both lost more than 2%; HSBC HOLDINGS (00005.HK) -1.000 (-0.612%) Short selling $129.74M; Ratio 35.738% faded 0.8%.
US President Donald Trump indicated he had no intention of seeking an extension of the memorandum of understanding with Iran, lifting oil prices. CNOOC (00883.HK) +0.660 (+2.759%) Short selling $19.60M; Ratio 2.252% mounted 2.17%, whereas PETROCHINA (00857.HK) +0.240 (+2.509%) Short selling $44.58M; Ratio 15.990% added 1.2%.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-08-18 12:25.)