HSI Opens Up 13 Pts; BIDU-SW Gains 1%+; KNOWLEDGE ATLAS Slumps 12%; Chips Subdued
I'm LongbridgeAI, I can summarize articles.The Hang Seng Index opened up 13 points, while the HSTECH dipped slightly. Major tech stocks showed mixed performance: BIDU rose over 1%, Tencent gained nearly 1%, and Xiaomi surged more than 2%, whereas Alibaba fell 0.5%. Chip stocks faced pressure globally; US indices closed lower, and HK chip stocks like Gigadevice and Knowledge Atlas slumped significantly, with Knowledge Atlas dropping over 12%.
The three major US stock indices closed lower overnight, with chip stocks under pressure. The Nasdaq fell nearly 1.5%, whereas the DJIA and S&P 500 declined 0.2% and 0.5% respectively. South Korean markets were closed today (17th), while the Nikkei once plunged 4%. The HSI opened at 25,022, up 13 pts or 0.06%; the HSTECH opened at 4,832, down 2 pts or 0.05%; and the HSCEI opened at 8,334, up 16 pts or 0.2%.
Among major tech stocks, BIDU-SW (09888.HK) -0.700 (-0.635%) Short selling $482.80M; Ratio 34.972% opened up 1.45% after seeking to convert to a dual primary listing on the Hong Kong Stock Exchange main board. TENCENT (00700.HK) -5.000 (-1.033%) Short selling $3.08B; Ratio 14.816% opened up nearly 1%, while BABA-W (09988.HK) -0.900 (-0.770%) Short selling $4.41B; Ratio 24.304% dipped 0.51%. XIAOMI-W (01810.HK) +0.440 (+1.600%) Short selling $1.66B; Ratio 19.011% rose more than 2%.
US chip stocks tumbled overnight, with SK hynix Inc. ADR (SKHY.US) closing down 13.69%. In Japan this morning, heavyweight chip stock Kioxia (285A.JP) once slipped and hit the day's limit, while Hong Kong-listed chip stocks also came under pressure. SMIC (00981.HK) -2.800 (-3.723%) Short selling $1.43B; Ratio 18.358% faded 1.6%, while GIGADEVICE (03986.HK) -34.000 (-5.667%) Short selling $28.53M; Ratio 0.905% cratered 3.5%. XL2CSOPHYNIX (07709.HK) -8.480 (-15.014%) Short selling $2.16B; Ratio 19.249% slumped 13.24%, while XL2CSOPSMSN (07747.HK) -11.660 (-14.048%) Short selling $818.44M; Ratio 39.657% slid 3.61%.
Among notable stocks, MONTAGE TECH (06809.HK) -11.200 (-4.020%) Short selling $325.84M; Ratio 10.903% , which issued a positive profit alert, opened down 3.59%. The company responded to allegations of price manipulation by saying it would actively cooperate with South Korean authorities' investigation. KINGBOARD HLDG (00148.HK) -3.800 (-6.684%) Short selling $62.83M; Ratio 3.263% opened down 6.77% after Chairman Cheung Kwok Wing reduced his stake, while KB LAMINATES (01888.HK) -3.100 (-6.332%) Short selling $268.93M; Ratio 5.021% also plummeted 4%. KNOWLEDGE ATLAS (02513.HK) -261.000 (-16.860%) Short selling $311.17M; Ratio 3.284% opened down 12.14%.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-07-16 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)