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The Nasdaq Golden Dragon China Index preliminarily closed down 0.6%. Among popular Chinese concept stocks, Tencent Music fell 4.9%, Kingsoft Cloud fell 4.6%, and Zai Lab fell 4.1%. In ETFs, KWEB fell 1.1%, CQQQ rose 0.22%, and ASHR rose 0.8%

Baidu's ERNIE 5 AI Model Rises Up the Rankings—A Math Wiz That Beats OpenAI's GPT 5.1

Baidu's ERNIE-5. 0-0110 ranks #8 globally on LMArena, becoming the only Chinese model in the top 10 while outperforming GPT-5. 1-High. source:

Meta Media Holdings Agrees to Acquire 3% Stake in Modern Digital Holdings

Meta Media Holdings Limited has extended the long stop date for its acquisition of a 3% stake in Modern Digital Holdings Limited to January 22, 2026. This extension is due to the need for additional time to fulfill certain conditions of the share purchase agreement, which was originally set for January 15, 2026. All other terms of the agreement remain unchanged.

Zhihu Grants 855,705 Restricted Share Units to Employees Under 2022 Incentive Plan

Zhihu Inc. has granted 855,705 restricted share units (RSUs) to seven employees under its 2022 Share Incentive Plan. The RSUs were awarded on January 15, 2026, pending acceptance by the recipients and adherence to the plan's terms. None of the recipients are directors, chief executives, substantial shareholders, or their associates. This announcement was published via the Issuer Information Service of the Hong Kong Stock Exchange.

Net inflow of HKD 1.976 billion for Alibaba through Stock Connect

According to the Hong Kong Stock Connect data, Alibaba had a net inflow of HKD 1.976 billion, Tencent had a net inflow of HKD 643 million, and SMIC had a net inflow of HKD 181 million. CNOOC and Crystal International Holdings had net outflows of HKD 366 million and HKD 118 million, respectively. The total net outflow for the day was HKD 0, with a total transaction amount of HKD 119.834 billion, accounting for 41.26% of the total market transaction amount