HSI Opens Down 124 Pts; Baidu Plunges Over 12%; CHINA UNICOM Down Over 7%; XIAOMI-W Rebounds Nearly 3%
I'm LongbridgeAI, I can summarize articles.The Hang Seng Index opened down 124 points, driven by US market weakness and mixed corporate earnings. Baidu plunged over 12% following a significant profit drop, while China Unicom fell nearly 8% on lower interim net profits. Conversely, Xiaomi rebounded nearly 3% despite a revenue decline. Chip stocks also opened lower, reflecting broader external market pressures.
US stocks closed lower overnight, with chip stocks leading declines and the Nasdaq falling 1.3%. The HSI opened at 25,346 this morning (19th), down 124 pts or 0.49%. The HSCEI opened at 8,408, down 44 pts or 0.53%. The HSTECH opened at 4,678, down 60 pts or 1.27%.
Among major tech stocks, XIAOMI-W (01810.HK) +0.600 (+2.292%) Short selling $1.75B; Ratio 37.643% reported a 6% decline in 2Q revenue, in line with expectations, while its share price opened nearly 3% higher this morning. Baidu, Inc. (BIDU.US) plunged more than 12% in the US market after the company posted a 68% decline in 2Q profit, while BIDU-SW (09888.HK) -12.850 (-12.710%) Short selling $112.21M; Ratio 15.748% opened 12.41% lower in Hong Kong. TENCENT (00700.HK) -2.200 (-0.497%) Short selling $848.58M; Ratio 8.285% opened nearly 1% lower. KUAISHOU-W (01024.HK) -1.440 (-3.657%) Short selling $548.04M; Ratio 20.028% fell 1.37%. BABA-W (09988.HK) -1.600 (-1.263%) Short selling $3.37B; Ratio 22.275% , which will announce quarterly results today, dropped 1.66%.
Among blue chips, CHINA UNICOM (00762.HK) -0.670 (-10.686%) Short selling $15.77M; Ratio 8.861% opened down 7.74% after its interim net profit fell 34.6% YoY, though the company expects the decline in full-year profit to narrow significantly. ZTO EXPRESS-W (02057.HK) -5.700 (-3.118%) Short selling $80.00M; Ratio 35.575% opened flat after interim net profit rose 31.5%. CMOC (03993.HK) -0.490 (-2.867%) Short selling $40.03M; Ratio 7.273% opened down 4.15%. LENOVO GROUP (00992.HK) -0.500 (-1.595%) Short selling $493.45M; Ratio 12.267% fell 2.36%.
Hong Kong-listed chip stocks opened lower following external market weakness. SMIC (00981.HK) -2.650 (-3.494%) Short selling $389.28M; Ratio 4.601% fell about 3%. HUA HONG GRACE (01347.HK) -5.900 (-4.577%) Short selling $516.16M; Ratio 7.993% dropped 2.95%. MONTAGE TECH (06809.HK) -9.000 (-3.095%) Short selling $177.69M; Ratio 13.995% slid 4.75%. ILUVATAR COREX (09903.HK) -23.200 (-5.459%) Short selling $10.29M; Ratio 1.361% declined 4.24%. GIGADEVICE (03986.HK) -18.100 (-3.498%) Short selling $165.32M; Ratio 6.363% fell 4.93% despite reporting a 10.9x increase in half-year profit.
Momentum stocks came under pressure. Z.AI (02513.HK) -31.000 (-2.972%) Short selling $639.41M; Ratio 5.698% dropped 4.31%. MINIMAX-W (00100.HK) -13.000 (-4.078%) Short selling $416.51M; Ratio 6.333% fell 5.71%. KB LAMINATES (01888.HK) -1.340 (-3.463%) Short selling $696.03M; Ratio 17.258% declined 5.94%. KINGBOARD HLDG (00148.HK) -1.700 (-3.482%) Short selling $184.22M; Ratio 13.714% dropped 4.14%.
Among individual stocks, HESAI-W (02525.HK) -1.230 (-6.707%) Short selling $6.75M; Ratio 9.224% fell 5.83% despite an 82% increase in adjusted net profit for the first half. WEIMOB INC (02013.HK) -0.090 (-7.347%) Short selling $7.39M; Ratio 13.504% declined 2.86% after adjusted net profit for the first half grew 70%. (mn/a)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-08-18 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)