Hong Kong Stocks Closed Higher Broadly, Xiaomi Surges Over 7%, Kuaishou Up Nearly 10%

Market Express
02-18

On February 18, the Hong Kong stock market saw a broad rise with the Hang Seng Index (HSI) up 1.59% and the Hang Seng Tech Index (HSTECH) up 2.54%.

In the tech sector, Tencent rose 2.01% as the company leveraged its DeepSeek AI model to enhance WeChat search capabilities. Alibaba Health and JD Health also saw significant gains, rising 3.38% and 5.93% respectively. Xiaomi surged 7.20%, reaching a new high with its market value approaching HKD 1.2 trillion. The company received an upgraded target price from Citic Lyon, citing strong Q4 performance expectations.

Kuaishou's stock price surged 9.61%, driven by optimism around its AI advancements. The company’s AI video generation technology has been recognized for its global competitiveness, leading to a buy rating from UBS.

Geely Auto rose 5.21% after announcing a partnership with Renault to produce and sell cars in Brazil. Pop Mart saw a 3.59% increase, hitting a new high due to strong growth from its collaboration with the movie Ne Zha 2.

Overall, the tech sector led the gains with notable performances from Xiaomi, Kuaishou, and Geely Auto.

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