BIDU-SW's Kunlunxin Reportedly Set to Begin Roadshow Following Lunar New Year
Investor Roadshow Announcement: Baidu's subsidiary Kunlunxin is set to launch an investor roadshow after the Lunar New Year, focusing on existing institutional shareholders.
Listing Application: Kunlunxin has submitted a confidential Main Board listing application to HKEX earlier this year.
Short Selling Data: The short selling for BIDU-SW is reported at $492.08 million with a ratio of 24.610%, while another figure shows $614.31 million and a ratio of 17.107%.
Valuation Update: Following its Series D financing in July 2025, Kunlunxin's post-investment valuation is reported to be RMB21 billion.
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HKEX Expresses Cautious Optimism for Market; Bonnie Chan Reports Over 10 International Firms Awaiting Listings
Market Performance: On the first trading day of the Year of the Horse, HKEX reported a slight decline in stock value but noted a strong start for Hong Kong stocks with over 20 new IPOs raising US$10 billion year-to-date.
IPO Activity: There is significant momentum in secondary offerings, with the amount raised already exceeding one-third of last year's total, and over 400 companies, including international firms, are currently in the IPO queue.
Future Outlook: HKEX's CEO, Bonnie Chan, expressed optimism about attracting global companies to Hong Kong's fundraising platform, while Chairman Carlson Tong emphasized the importance of maintaining market liquidity to support IPO activity.
Analyst Ratings: Goldman Sachs has rated HKEX as a "Buy," despite its underperformance compared to the Hang Seng Index year-to-date.
Carlson Tong: 24 IPOs Listed So Far This Year; Optimism for Continued Strong Equity Market Sentiment in the Year of the Horse
Market Sentiment: HKEX Chairman Carlson Tong expressed optimism for the Hong Kong equity market's performance in the Year of the Horse during the first trading day after the Lunar New Year.
IPO Activity: HKEX has completed 24 IPOs year-to-date, raising $87 billion, with over 488 companies awaiting listing, while maintaining strict scrutiny to uphold market quality.
<Daily Summary> HSI Falls 292 Points; HSTI Declines 156 Points; BABA Drops More Than 4%; XIAOMI Decreases Over 3%; HENDERSON LAND, MIDEA GROUP, CNOOC, HANG LUNG PPT, SHK PPT Reach New Peaks; Market Activity Increases
Market Performance: The Hang Seng Index (HSI) fell by 292 points (1.1%) to close at 26,413, while the Hang Seng Tech Index (HSTI) dropped 156 points (2.9%) to 5,211, with a total market turnover of $165.37 billion.
Declining Heavyweights: Major stocks like Alibaba, Xiaomi, Tencent, and Meituan experienced significant declines, with Alibaba down 4.9% and Xiaomi down 3.5%, reflecting a broader trend of short selling in the market.
Notable Movers: JD Health and Baidu saw substantial drops of 6.3%, while Beigene and PetroChina gained 4.2% and 3.7%, respectively, indicating mixed performance among HSI and HSCEI constituents.
High Performers in Smaller Stocks: Stocks like DOBOT and GUOFUHEE surged by over 17%, showcasing strong gains in smaller companies despite the overall market downturn.
Midday Update: HSI Ends at 26,544, Down 161 Points; HSTI at 5,245, Down 122 Points; BABA Falls Over 3%; HENDERSON LAND, CNOOC, HANG LUNG PPT, MIDEA GROUP, and SHK PPT Reach New Highs
Market Performance: The HSI fell by 161 points (0.6%) to 26,544, while the HSTI and HSCEI also experienced declines of 2.3% and 0.6%, respectively.
Active Heavyweights: Major stocks like BABA, XIAOMI, and TENCENT saw significant drops, with BABA down 3.7% and XIAOMI down 2.3%, amidst high short selling ratios.
Notable Movers: Beigene and PetroChina were among the gainers, with Beigene rising 4.8% and PetroChina up 4.6%, both hitting new highs.
Short Selling Trends: Several stocks, including JD Health and NTES, faced heavy short selling, indicating bearish sentiment among investors.
Paul Chan Optimistic About Market Conditions in Year of the Horse, Considering New Strategies to Boost Competitiveness
Market Performance: Hong Kong's Financial Secretary Paul Chan highlighted a significant rally in the HSI, which increased by 6,500 points (32% YoY) in the previous year, marking the best performance historically for the Year of the Snake.
Outlook for the Year of the Horse: Chan expressed optimism for the upcoming year despite anticipated external challenges, emphasizing Hong Kong's commitment to market reforms and infrastructure improvements.
Technological Advancements: He noted the acceleration of technological transformation in areas like AI and quantum computing, which are expected to enhance Hong Kong's market competitiveness.
Attracting Tech Companies: The government aims to attract more technology firms to list in Hong Kong and will work with regulatory bodies to implement new measures to boost market competitiveness and trading mechanisms.
HSI Declines by 48 Points as BABA-W and BIDU-SW Fall; COSCO SHIP ENGY Rises Over 6%
Market Opening: The Hong Kong equity market opened lower after the Lunar New Year holiday, with the HSI down 0.2% at 26,657, the HSCEI down 0.2% at 9,052, and the HSTECH down 0.7% at 5,330.
Stock Performances: CNOOC and COSCO SHIP ENGY saw gains of 2.2% and 6.1% respectively, while tech stocks like BABA-W and BIDU-SW experienced declines of 3.7% and 5.2%.
Sector Movements: Commodities stocks generally rose, with notable increases from MMG and CMOC, while several automakers and financial stocks showed mixed results, with HSBC and HKEX slightly up.
Short Selling Trends: Significant short selling was observed across various sectors, particularly in tech stocks, with BILIBILI-W and KINGDEE INT'L experiencing notable declines alongside high short selling ratios.
HKEX Expresses Cautious Optimism for Market; Bonnie Chan Reports Over 10 International Firms Awaiting Listings
Market Performance: On the first trading day of the Year of the Horse, HKEX reported a slight decline in stock value but noted a strong start for Hong Kong stocks with over 20 new IPOs raising US$10 billion year-to-date.
IPO Activity: There is significant momentum in secondary offerings, with the amount raised already exceeding one-third of last year's total, and over 400 companies, including international firms, are currently in the IPO queue.
Future Outlook: HKEX's CEO, Bonnie Chan, expressed optimism about attracting global companies to Hong Kong's fundraising platform, while Chairman Carlson Tong emphasized the importance of maintaining market liquidity to support IPO activity.
Analyst Ratings: Goldman Sachs has rated HKEX as a "Buy," despite its underperformance compared to the Hang Seng Index year-to-date.
Carlson Tong: 24 IPOs Listed So Far This Year; Optimism for Continued Strong Equity Market Sentiment in the Year of the Horse
Market Sentiment: HKEX Chairman Carlson Tong expressed optimism for the Hong Kong equity market's performance in the Year of the Horse during the first trading day after the Lunar New Year.
IPO Activity: HKEX has completed 24 IPOs year-to-date, raising $87 billion, with over 488 companies awaiting listing, while maintaining strict scrutiny to uphold market quality.
<Daily Summary> HSI Falls 292 Points; HSTI Declines 156 Points; BABA Drops More Than 4%; XIAOMI Decreases Over 3%; HENDERSON LAND, MIDEA GROUP, CNOOC, HANG LUNG PPT, SHK PPT Reach New Peaks; Market Activity Increases
Market Performance: The Hang Seng Index (HSI) fell by 292 points (1.1%) to close at 26,413, while the Hang Seng Tech Index (HSTI) dropped 156 points (2.9%) to 5,211, with a total market turnover of $165.37 billion.
Declining Heavyweights: Major stocks like Alibaba, Xiaomi, Tencent, and Meituan experienced significant declines, with Alibaba down 4.9% and Xiaomi down 3.5%, reflecting a broader trend of short selling in the market.
Notable Movers: JD Health and Baidu saw substantial drops of 6.3%, while Beigene and PetroChina gained 4.2% and 3.7%, respectively, indicating mixed performance among HSI and HSCEI constituents.
High Performers in Smaller Stocks: Stocks like DOBOT and GUOFUHEE surged by over 17%, showcasing strong gains in smaller companies despite the overall market downturn.
Midday Update: HSI Ends at 26,544, Down 161 Points; HSTI at 5,245, Down 122 Points; BABA Falls Over 3%; HENDERSON LAND, CNOOC, HANG LUNG PPT, MIDEA GROUP, and SHK PPT Reach New Highs
Market Performance: The HSI fell by 161 points (0.6%) to 26,544, while the HSTI and HSCEI also experienced declines of 2.3% and 0.6%, respectively.
Active Heavyweights: Major stocks like BABA, XIAOMI, and TENCENT saw significant drops, with BABA down 3.7% and XIAOMI down 2.3%, amidst high short selling ratios.
Notable Movers: Beigene and PetroChina were among the gainers, with Beigene rising 4.8% and PetroChina up 4.6%, both hitting new highs.
Short Selling Trends: Several stocks, including JD Health and NTES, faced heavy short selling, indicating bearish sentiment among investors.
Paul Chan Optimistic About Market Conditions in Year of the Horse, Considering New Strategies to Boost Competitiveness
Market Performance: Hong Kong's Financial Secretary Paul Chan highlighted a significant rally in the HSI, which increased by 6,500 points (32% YoY) in the previous year, marking the best performance historically for the Year of the Snake.
Outlook for the Year of the Horse: Chan expressed optimism for the upcoming year despite anticipated external challenges, emphasizing Hong Kong's commitment to market reforms and infrastructure improvements.
Technological Advancements: He noted the acceleration of technological transformation in areas like AI and quantum computing, which are expected to enhance Hong Kong's market competitiveness.
Attracting Tech Companies: The government aims to attract more technology firms to list in Hong Kong and will work with regulatory bodies to implement new measures to boost market competitiveness and trading mechanisms.
HSI Declines by 48 Points as BABA-W and BIDU-SW Fall; COSCO SHIP ENGY Rises Over 6%
Market Opening: The Hong Kong equity market opened lower after the Lunar New Year holiday, with the HSI down 0.2% at 26,657, the HSCEI down 0.2% at 9,052, and the HSTECH down 0.7% at 5,330.
Stock Performances: CNOOC and COSCO SHIP ENGY saw gains of 2.2% and 6.1% respectively, while tech stocks like BABA-W and BIDU-SW experienced declines of 3.7% and 5.2%.
Sector Movements: Commodities stocks generally rose, with notable increases from MMG and CMOC, while several automakers and financial stocks showed mixed results, with HSBC and HKEX slightly up.
Short Selling Trends: Significant short selling was observed across various sectors, particularly in tech stocks, with BILIBILI-W and KINGDEE INT'L experiencing notable declines alongside high short selling ratios.
