Kuaishou Technology Stock Slips 5.3% in Hong Kong

Dow JonesJul 22 16:30

Tencent weakened in the afternoon session, as the market expects its mobile gaming revenue in the next quarter to decline slightly; Morningstar noted that the drop is not driven by fundamental factors.

Hong Kong stocks were weaker today (22nd), with the Hang Seng Index last trading at 24,868 points in the afternoon session, down 263 points or approximately 1%, on turnover of HK$260.6 billion. The Hang Seng Tech Index declined 3.1% to 4,663 points. Heavyweight technology stocks dragged down the broader market, with Tencent (00700.HK) falling as much as 7% during the afternoon session to an intraday low of HK$440.6. It was last trading at HK$443.6, down 6.41%, with turnover of HK$25.394 billion. NetEase (09999.HK) was down 7.29% to HK$193.2, marking the worst performance among blue-chip stocks, with turnover of HK$1.991 billion. Kuaishou-W (01024.HK) also fell more than 6%, while Alibaba-

AASTOCKSJul 22 15:22

Express News | According to Hong Kong Exchange disclosures, JPMorgan reduced its stake in Kuaishou-WH shares from 6.70% to 6.22% on July 16.

BreakingsJul 21 17:14

UBS Group: China's AI rise will reshape the value chain; focus on explosive growth in usage.

Sunil Tirumalai, Head of Emerging Markets and Asian Equity Strategy at UBS Group, stated that the market should not interpret the rise of Chinese AI models solely as a threat to existing AI leaders. He noted that global AI development has been led by the United States over the past three years, but Chinese models are now attracting overseas users with a low-cost strategy—charging only 15% to 20% of the cost of comparable U.S. models—while the performance gap continues to narrow. This trend lowers the barrier to entry for AI services and expands commercialization scenarios, benefiting both consumers and enterprises. He believes the rise of Chinese AI is reshaping the distribution of value across the AI value chain. Regarding investor concerns that AI is becoming cheaper and more...

AASTOCKSJul 21 14:43

Full-scale counteroffensive! Hong Kong-listed AI stocks surge back—has the correction ended?

Just moments ago, the market staged a major rally!

China Securities JournalJul 21 12:10

On-site Coverage of the World Artificial Intelligence Conference: Fund Managers Survey Three Key Areas

The strongest signal emerging from this year’s exhibition is that AI is rapidly moving beyond 'concept demonstrations' and into the physical world—many of the new products showcased are no longer lab prototypes but mature, mass-producible, and deployable solutions.

China Securities JournalJul 20 21:16