HSI Closes Rallying 366 pts, as Techs Rise; SENSETIME Skyrockets 43%

Hong Kong stocks rallied significantly, led by technology stocks. $Hang Seng Index(800000.HK)$ once hiked 473 points to a 5-month high of 17,758 in the afternoon, and closed lifting 366 points or 2.1% at 17,651. $Hang Seng China Enterprises Index(800100.HK)$ escalated 149 points or 2.4% to close at 6,269. $Hang Seng TECH Index(800700.HK)$ surged 163 points or 4.6% to close at 3,718. Total turnover for the whole day was $157.242 billion, the highest in the past 9 months.

For tech stocks, $BABA-SW(09988.HK)$ , $TENCENT(00700.HK)$ and $BIDU-SW(09888.HK)$ elevated 2.7% to 3.1%. $MEITUAN-W(03690.HK)$ , $XIAOMI-W(01810.HK)$ and $BILIBILI-W(09626.HK)$ inclined 3.7% to 4.6%, while $JD-SW(09618.HK)$ and $KUAISHOU-W(01024.HK)$ escalated 5.8% and 7%.

$SENSETIME-W(00020.HK)$ skyrocketed 43.4%. Brokers commented that SENSETIME's "SenseNova 5.0" foundation model outperformed GPT-4 Turbo in the Chinese context. $ZTE(00763.HK)$ mounted 6.3% after its 1Q net profit inclined 3.7%.

$NEW ORIENTAL-S(09901.HK)$ and $KINGSOFT CLOUD(03896.HK)$ soared 10.4% and 9.9% respectively. $KINGDEE INT'L(00268.HK)$ , $MEITU(01357.HK)$ , $GDS-SW(09698.HK)$ , $ALI HEALTH(00241.HK)$ , $SUNNY OPTICAL(02382.HK)$ , $JD HEALTH(06618.HK)$ , $EAST BUY(01797.HK)$ , and $ASMPT(00522.HK)$ surged 6.1% to 8%.