Market Roundup

The HSI opened 51 points higher and then extended its gains, rising 193 points or 1% to 20,259 at mid-day; the HSCEI rose 92 points or 1.3% to 7,404; and the HSTECH rose 64 points or 1.4% to 4,722. The total market turnover was HK$80.94bn. DeepSeek, a China artificial intelligence model, ranked first in the download list of Apple's free app stores in China and the U.S. Related AI concept stocks rose, with Baidu (9888) and GDS (9698) rising 4.2% and 12.0% respectively. There are rumors that the Chinese government is considering to cancel the car purchase restriction policy. New energy vehicle stocks such as Li Auto (2015) rose by more than 3%.

Source: KGI Investment Strategy

The materials contained herein are provided by KGI Asia Limited ("KGI") for information only. While such materials are based on or derived from sources believed to be reliable, KGI makes no representation or warranty (express or implied) as to their accuracy or reliability. Neither the information nor the opinions expressed herein constitute, or are to be construed as, an offer or invitation or solicitation of an offer to buy or sell any securities or investments. KGI and its officers, employees, agents and affiliates may have interests in the securities or investments covered herein and accept no liability whatsoever for any loss or consequence whatsoever (whether direct or indirect) resulting from any use of or reliance by you on such materials.