JPM Prefers Materials, Brokerage, Insurance, Consumer Staples, and Robotics Sectors; Sets Year-End MSCI China Index Target at 100
JPMorgan's Upgrade on Chinese Stocks: JPMorgan upgraded its rating of Chinese stocks to Overweight, citing the end of a four-year downward cycle and a favorable entry point for investors, with year-end targets for the MSCI China Index and CSI 300 Index set at 100 and 5,200, respectively.
Shift in Investment Strategy: The firm anticipates a shift in investor focus from short-term trading to long-term appreciation in Chinese stocks, particularly in sectors benefiting from AI, commodities, and consumer staples.
Highlighted Stocks: JPMorgan's investment strategy includes several Chinese stocks rated as Overweight, such as Tencent, Alibaba, and Moutai, with varying short-selling ratios indicating market sentiment.
Market Outlook: The report reflects a more optimistic outlook for leading internet platforms and sectors like robotics and biotechnology, suggesting potential for outperformance in the Chinese market.
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Short Selling Activity Reaches $21.6B, Representing 22.1% of Eligible Securities Turnover by Midday
Short Selling Turnover: The short selling turnover in the Hong Kong market reached $21.6 billion at midday, accounting for 22.1% of the turnover of securities eligible for short selling, an increase from 20% on the previous trading day.
Top Short Selling Stocks: The top five stocks with the highest short selling amounts include TRACKER FUND (44.4% ratio, $3.31B), CSOP HS TECH (56.6% ratio, $2.10B), TENCENT (14% ratio, $1.04B), BABA-W (18.8% ratio, $948.57M), and MINIMAX-WP (29% ratio, $535.05M).
China Surpasses US in AI Usage for the First Time; MINIMAX-WP Ranks Among the Top 5 Global Models
China's AI Token Demand: In February 2026, China's demand for AI tokens surged by 1.3 times, surpassing the US for the first time, according to OpenRouter data.
Top AI Models: The leading AI models in token usage included China's MINIMAX-WP and Moonshot AI, marking a shift in market dominance away from US developers.
Popular AI Models in China: The Qwen AI model series from Alibaba became the most popular among Chinese companies, nearly doubling its market share to 32.1% in the latter half of the previous year.
Other Notable Models: The top five AI models also featured Google's Gemini3 Flash Preview, China's DeepSeek V3.2, and Anthropic's Claude Sonnet4.5, highlighting a competitive landscape in AI development.
Enhanced MiniMax Agent Features Released Alongside MaxClaw Launch
Functionality Upgrade: MINIMAX-WP announced an upgrade to the MiniMax Agent Expert, now called Expert 2.0, which simplifies the agent creation process by allowing users to describe tasks in natural language without needing to configure specific parameters.
Launch of MaxClaw: Alongside the Expert 2.0 upgrade, MINIMAX-WP launched MaxClaw, a cloud-based AI assistant that integrates with the MiniMax Agent web page, enabling users to utilize OpenClaw without needing their own servers or API keys.
HSI Rises by 175 Points; HSBC HOLDINGS Jumps Over 5% After Earnings Report; AI Large Model Stocks Decline
Market Performance: The HSI closed up 175 points (0.7%) at 26,765, while the HSCEI rose 26 points (0.3%) to 9,034; however, the HSTECH fell by 10 points (0.2%) to 5,260, with a total market turnover of HKD236.765 billion.
HSBC Holdings Results: HSBC Holdings saw a 5.5% increase in stock price to HKD142.7, despite a 7% year-on-year drop in reported profit before tax for 2025, while Standard Chartered's stock fell 2.2% due to concerns over expense growth.
Commodity and Tech Stocks: Commodity stocks like Zhaojin Mining and China Gold International performed well, with gains of 3% and 4.5%, respectively, while tech stocks showed mixed results, with JD-SW and Meituan-W gaining slightly, while several AI-related stocks experienced significant declines.
Short Selling Trends: Short selling activity was notable across various sectors, with HSBC and JD-SW having high short selling ratios, while AI stocks like Knowledge Atlas and Minimax-WP faced substantial drops in their stock prices.
<H Shrs>HSI Rises 154 Points as Technology Stocks Recover
Hong Kong Stock Market Opening: Hong Kong stocks opened higher, with the HSI up 154 points (0.6%) at 26,745, the HSCEI up 61 points (0.7%) at 9,069, and the HSTECH up 45 points (0.9%) at 5,316.
Performance of Major Stocks: JD-SW saw a 1.3% increase due to the launch of a new delivery service, while other tech stocks like BABA-W and MEITUAN-W also rose by around 1%.
Short Selling Data: Significant short selling was noted across various stocks, with JD-SW at $450.54M and a ratio of 37.567%, while TENCENT had a short selling of $2.19B with a ratio of 11.649%.
Sector Highlights: Robotics stocks gained traction with Unitree Robotics' new product, while automakers like BYD and XPENG also saw positive movements, with XPENG increasing by 2.8%.
HSI Closes Down 491 Points; Tech, Pharma, and Chinese Insurers Decline, While STANCHART Surges Over 3% After Earnings Report
Market Performance: The HSI fell by 491 points (1.8%) to 26,590, with the HSCEI and HSTECH also experiencing declines of 2.1%, closing at 9,007 and 5,270 respectively, amid a total market turnover of HKD250.992 billion.
Tech Stock Declines: Major tech stocks like TENCENT, BABA-W, and MEITUAN-W saw significant drops, with short selling ratios indicating high market activity, reflecting a broader downturn in the tech sector.
Pharmaceutical Sector Struggles: Pharmaceutical stocks continued to decline, with CSPC PHARMA and SINO BIOPHARM among the biggest losers, as short selling activity remained high in this sector.
Financial Sector Highlights: STANCHART reported a 3.1% increase in stock price after announcing a significant rise in dividend distribution, contrasting with the overall negative trend seen in Chinese insurers, which experienced declines.
Short Selling Activity Reaches $21.6B, Representing 22.1% of Eligible Securities Turnover by Midday
Short Selling Turnover: The short selling turnover in the Hong Kong market reached $21.6 billion at midday, accounting for 22.1% of the turnover of securities eligible for short selling, an increase from 20% on the previous trading day.
Top Short Selling Stocks: The top five stocks with the highest short selling amounts include TRACKER FUND (44.4% ratio, $3.31B), CSOP HS TECH (56.6% ratio, $2.10B), TENCENT (14% ratio, $1.04B), BABA-W (18.8% ratio, $948.57M), and MINIMAX-WP (29% ratio, $535.05M).
China Surpasses US in AI Usage for the First Time; MINIMAX-WP Ranks Among the Top 5 Global Models
China's AI Token Demand: In February 2026, China's demand for AI tokens surged by 1.3 times, surpassing the US for the first time, according to OpenRouter data.
Top AI Models: The leading AI models in token usage included China's MINIMAX-WP and Moonshot AI, marking a shift in market dominance away from US developers.
Popular AI Models in China: The Qwen AI model series from Alibaba became the most popular among Chinese companies, nearly doubling its market share to 32.1% in the latter half of the previous year.
Other Notable Models: The top five AI models also featured Google's Gemini3 Flash Preview, China's DeepSeek V3.2, and Anthropic's Claude Sonnet4.5, highlighting a competitive landscape in AI development.
Enhanced MiniMax Agent Features Released Alongside MaxClaw Launch
Functionality Upgrade: MINIMAX-WP announced an upgrade to the MiniMax Agent Expert, now called Expert 2.0, which simplifies the agent creation process by allowing users to describe tasks in natural language without needing to configure specific parameters.
Launch of MaxClaw: Alongside the Expert 2.0 upgrade, MINIMAX-WP launched MaxClaw, a cloud-based AI assistant that integrates with the MiniMax Agent web page, enabling users to utilize OpenClaw without needing their own servers or API keys.
HSI Rises by 175 Points; HSBC HOLDINGS Jumps Over 5% After Earnings Report; AI Large Model Stocks Decline
Market Performance: The HSI closed up 175 points (0.7%) at 26,765, while the HSCEI rose 26 points (0.3%) to 9,034; however, the HSTECH fell by 10 points (0.2%) to 5,260, with a total market turnover of HKD236.765 billion.
HSBC Holdings Results: HSBC Holdings saw a 5.5% increase in stock price to HKD142.7, despite a 7% year-on-year drop in reported profit before tax for 2025, while Standard Chartered's stock fell 2.2% due to concerns over expense growth.
Commodity and Tech Stocks: Commodity stocks like Zhaojin Mining and China Gold International performed well, with gains of 3% and 4.5%, respectively, while tech stocks showed mixed results, with JD-SW and Meituan-W gaining slightly, while several AI-related stocks experienced significant declines.
Short Selling Trends: Short selling activity was notable across various sectors, with HSBC and JD-SW having high short selling ratios, while AI stocks like Knowledge Atlas and Minimax-WP faced substantial drops in their stock prices.
<H Shrs>HSI Rises 154 Points as Technology Stocks Recover
Hong Kong Stock Market Opening: Hong Kong stocks opened higher, with the HSI up 154 points (0.6%) at 26,745, the HSCEI up 61 points (0.7%) at 9,069, and the HSTECH up 45 points (0.9%) at 5,316.
Performance of Major Stocks: JD-SW saw a 1.3% increase due to the launch of a new delivery service, while other tech stocks like BABA-W and MEITUAN-W also rose by around 1%.
Short Selling Data: Significant short selling was noted across various stocks, with JD-SW at $450.54M and a ratio of 37.567%, while TENCENT had a short selling of $2.19B with a ratio of 11.649%.
Sector Highlights: Robotics stocks gained traction with Unitree Robotics' new product, while automakers like BYD and XPENG also saw positive movements, with XPENG increasing by 2.8%.
HSI Closes Down 491 Points; Tech, Pharma, and Chinese Insurers Decline, While STANCHART Surges Over 3% After Earnings Report
Market Performance: The HSI fell by 491 points (1.8%) to 26,590, with the HSCEI and HSTECH also experiencing declines of 2.1%, closing at 9,007 and 5,270 respectively, amid a total market turnover of HKD250.992 billion.
Tech Stock Declines: Major tech stocks like TENCENT, BABA-W, and MEITUAN-W saw significant drops, with short selling ratios indicating high market activity, reflecting a broader downturn in the tech sector.
Pharmaceutical Sector Struggles: Pharmaceutical stocks continued to decline, with CSPC PHARMA and SINO BIOPHARM among the biggest losers, as short selling activity remained high in this sector.
Financial Sector Highlights: STANCHART reported a 3.1% increase in stock price after announcing a significant rise in dividend distribution, contrasting with the overall negative trend seen in Chinese insurers, which experienced declines.
