Hong Kong Stock Midday Review | Hang Seng Index Up 0.22% in Morning Session, AI Concept Stocks Rise

Zhitong
2025.04.30 04:06
portai
I'm PortAI, I can summarize articles.

The Hong Kong Hang Seng Index rose 0.22% in the morning session, reporting 22,056 points, while the Hang Seng Tech Index increased by 1.06%. Alibaba launched its next-generation AI model Qwen3, driving a broad rally in AI concept stocks, with MarketingForce rising over 8% and FOURTH PARADIGM up 6%. Data center stocks performed strongly, with Kingsoft Cloud rising over 15%. Xiaomi Group rose 4.74% and launched its inference large model. Airline stocks showed weakness, with China National Aviation falling 3%

According to Zhitong Finance APP, the Hong Kong Hang Seng Index rose 0.22%, up 47 points, closing at 22,056 points; the Hang Seng Tech Index rose 1.06%. The Hong Kong stock market saw a turnover of HKD 112.7 billion in the morning session.

In the early hours of April 29, Alibaba announced the launch of the new generation Tongyi Qianwen model Qwen3, leading most AI concept stocks to rise. MarketingForce (02556) rose over 8%, FOURTH PARADIGM (06682) rose 6%, and Meitu Inc. (01357) rose 5.85%.

CICC previously pointed out that data center companies provide server hosting services, and current orders on hand are expected to support annual performance growth over the next 1-2 years. Data center stocks saw a broad rise in the morning, with Kingsoft Cloud (03896) rising over 15% and GDS Holdings Limited-SW (09698) rising 5.62%.

Lepu Biopharma-B (02157) rose over 7% again, with impressive Phase III trial data for CG Oncology's oncolytic virus therapy.

Xiaomi Group-W (01810) rose 4.74%, announcing the open-source of its first inference large model "Xiaomi MiMo."

MicroPort Scientific Corporation-B (02252) rose over 10%, with Tumai's remote surgery application receiving registration approval from the National Medical Products Administration.

Chunli Medical (01858) rose over 8%, continuing to expand in overseas markets, achieving steady growth in Q1 performance.

Chow Tai Fook (01929) rose over 7%, with a narrowing decline in same-store sales in the fourth fiscal quarter, recently receiving target price upgrades from several major brokerages.

TCL Electronics (01070) rose over 5% to a new high, with a significant increase in global TV shipments in Q1, and institutions are optimistic about its dual breakthroughs in scale and profitability.

Aviation stocks showed weak performance, with China Southern Airlines (00753) falling 3%, and the three major airlines collectively reporting losses in Q1.

China National Foreign Trade Transportation Group (00598) fell over 5%, with a 19.76% year-on-year decrease in net profit attributable to the parent company in Q1.

Yao Cai Securities Financial (01428) saw a high-level pullback, falling over 9%

Source: Zhitong The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.