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, $BABA-W (09988.HK)$ , $TENCENT (00700.HK)$ 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%.