HSI Ends Up 124 Pts, Reclaims 26,000; BABA-W Leaps 7%; XINYI SOLAR Swells 13%+ Post-results
I'm LongbridgeAI, I can summarize articles.The Hang Seng Index closed up 124 points at 26,009, reclaiming the 26,000 level. Dotcom giants led gains, with Alibaba surging 7% on new AI model launch and Tencent rising over 3%. Solar stocks rallied significantly following regulatory price guidance, led by Xinyi Solar's 13% jump post-results. Conversely, Xiaomi fell nearly 3% due to price hikes and a UBS downgrade, while auto and resource sectors showed mixed or negative performance.
The HSI opened 102 pts higher before briefly turning south, but later regained upward momentum. It closed the day at 26,009, up 124 pts or 0.48%, with full-day turnover reaching HKD255.179 billion. The HSTECH closed at 4,875, up 46 pts or 0.96%, while the HSCEI closed at 8,652, up 40 pts or 0.46%.
Dotcom bellwethers drove the broader market higher. BABA-W (09988.HK) +8.200 (+7.009%) Short selling $3.54B; Ratio 14.772% had a good run, closing at HKD125.2, up 7.01%, after launching the Qwen 3.8-Max AI model, with performance comparable to Anthropic Fable. TENCENT (00700.HK) +15.200 (+3.199%) Short selling $1.76B; Ratio 9.306% , BIDU-SW (09888.HK) +4.000 (+3.777%) Short selling $143.82M; Ratio 17.464% and KUAISHOU-W (01024.HK) +1.320 (+3.021%) Short selling $124.84M; Ratio 6.507% soared more than 3%. JD-SW (09618.HK) +2.200 (+1.731%) Short selling $216.06M; Ratio 21.803% and MEITUAN-W (03690.HK) +0.950 (+1.027%) Short selling $755.01M; Ratio 20.718% gained more than 1%. XIAOMI-W (01810.HK) -0.820 (-2.849%) Short selling $2.62B; Ratio 32.562% bucked the trend, down 2.85%, after announcing price increases of up to RMB500 for premium smartphone models. UBS lowered its TP on the company, citing persistently high memory costs and weak end-market demand.
China's State Administration for Market Regulation (SAMR) launched price compliance guidance for the photovoltaic industry, boosting solar stocks. XINYI SOLAR (00968.HK) +0.295 (+13.409%) Short selling $71.85M; Ratio 17.252% was the best-performing blue chip of the day, jumping up 13.41%. Following its results announcement, Citi upgraded the stock to Buy. GCL TECH (03800.HK) +0.070 (+11.475%) Short selling $54.85M; Ratio 13.778% spiked 11.48%, while FLAT GLASS (06865.HK) +0.780 (+11.223%) Short selling $14.27M; Ratio 11.407% climbed 11.22%.
Autos were in a mixed bag. LI AUTO-W (02015.HK) -1.550 (-2.903%) Short selling $147.21M; Ratio 25.167% fell off 2.92%, while GEELY AUTO (00175.HK) -0.220 (-1.111%) Short selling $149.72M; Ratio 22.903% declined 1.11%. BYD COMPANY (01211.HK) +0.750 (+0.797%) Short selling $408.50M; Ratio 24.186% edged up 0.8%. Metal and resource stocks came under pressure, with CHINAHONGQIAO (01378.HK) -1.580 (-6.438%) Short selling $205.43M; Ratio 13.273% retreating 6.44% and CHALCO (02600.HK) -0.200 (-2.364%) Short selling $99.54M; Ratio 28.547% dropping 2.36%. PETROCHINA (00857.HK) -0.130 (-1.308%) Short selling $164.71M; Ratio 20.507% and SINOPEC CORP (00386.HK) -0.030 (-0.677%) Short selling $73.70M; Ratio 19.970% both lost more than 1%.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-08-03 16:25.)