Harvest Hang Seng SCHK Technology ETF(520670.SH)

Hong Kong Shares Kick Off Week Lower

Hong Kong shares fell 49 points (0.2%) to 26,703, ending a three-day winning streak amid declining U.S. futures and geopolitical tensions. Q3 business sentiment in Hong Kong dropped to -3, remaining negative for nearly two years. Despite this, mainland equities rose due to increased liquidity from the central bank. Technology and consumer sectors saw declines, with XPeng down 4.0%, Kuaishou 3.1%, SMIC 2.1%, and Xiaomi 1.9%.

China’s AI stocks with killer apps are winning investor favour

China's AI stocks are gaining investor interest as companies like Kuaishou Technology and Alibaba Health Information Technology report significant stock price increases, driven by innovative AI applications. Kuaishou's stock has risen 24% and Alibaba Health's by 33% this year, with analysts predicting continued earnings growth due to AI-driven efficiencies. New AI challengers have also debuted successfully in Hong Kong, contributing to a positive outlook for China's tech sector. Despite challenges in the broader market, opportunities remain in consumer technology, with reasonable valuations for profitable app makers.

The Hang Seng Index opened down 0.34%, and the Hang Seng TECH Index fell 0.70%. Bilibili dropped 2.9%, SenseTime fell 2.1%, and XPeng, Kuaishou, NetEase, and others declined over 1%

Kuaishou Technology Files Next Day Disclosure Return to HKEX for 393,000 New Shares Issued at HKD 76.70 Each

Kuaishou Technology has filed a Next Day Disclosure Return with the Hong Kong Stock Exchange, announcing the issuance of 393,000 new WVR ordinary shares (Class B) at HKD 76.70 each. Specific details regarding the total share count and issue price were not disclosed in the summary. This filing is part of the company's compliance with HKEX regulations.

Kuaishou Technology Files Next Day Disclosure Return to HKEX for Repurchase of 392,000 Shares at HKD 76.1 Each

Kuaishou Technology has filed a next day disclosure return with the Hong Kong Stock Exchange, announcing the repurchase of 392,000 WVR ordinary shares at an aggregate price of HKD 29,960,364. The shares were repurchased at prices between HKD 76.1 and HKD 76.75 each.