The Hang Seng Index closed down by 10 points as chip stocks softened and ZTE plunged 13%.

The Federal Reserve's 25-basis-point interest rate cut met expectations, and the Hong Kong Monetary Authority lowered the base rate for the discount window to 4%. The Hong Kong stock market initially rose but then retreated. The Hang Seng Index opened 169 points higher, and its gains expanded to 260 points at the beginning of trading, reaching 25,801 points before falling back. In the afternoon session, it briefly dropped 69 points to a low of 25,471 points. For the day, it closed at 25,530 points, down 10 points or less than 0.1%. The Hang Seng China Enterprises Index fell 20 points or 0.2% to close at 8,934 points, while the Hang Seng Tech Index declined 46 points or 0.8% to end at 5,534 points. Total turnover for the day amounted to HKD 182.477 billion. According to reports, the resale price of Quark AI glasses has surged to RMB 5,000, with order delivery delayed by 45 days.

AASTOCKSDec 11 16:28

Kingsoft Cloud rose against the market trend. Xiaomi is expected to deliver more AI achievements, and the company serves as the sole strategic cloud platform for the Xiaomi and Kingsoft ecosystem.

Kingsoft Cloud (03896) rose against the market trend by more than 5%. As of the time of writing, it was up 2.58% at HKD 6.35, with a turnover of HKD 249 million.

Zhitong FinanceDec 9 10:06

Hong Kong Exchanges and Clearing Limited (HKEX, stock code: 00388.HK) launched the 'HKEX Tech 100 Index' to track 100 technology companies listed in Hong Kong.

Hong Kong Exchange (00388.HK) announced the expansion of its index business and launched the "Hong Kong Exchange Tech 100 Index" today (September 9), marking the group’s first Hong Kong stock index. The Hong Kong Exchange Tech 100 is a broad-based equity index that tracks the performance of the 100 largest technology companies by market capitalization listed on the Hong Kong Exchange. All constituent stocks of the index are eligible for Stock Connect, catering to the investment needs of both international and Mainland Chinese investors. The industries of these companies cover six major innovation themes, including artificial intelligence, biotechnology and pharmaceuticals, electric vehicles and intelligent driving, information technology, the internet, and others.

AASTOCKSDec 9 08:41

Express News | Minister of Commerce Wang Wentao: Promote the consumption of large durable goods and advance 'Artificial Intelligence + Consumption.'

BreakingsDec 5 18:04

Kingsoft Cloud Reports Stable Share Capital for November 2025

TipRanksDec 4 20:56

Four key 'tailwinds' to support the stock market in 2026! JPMorgan recommends focusing on AI, cyclical stocks, and markets such as China.

① JPMorgan strategists believe that, despite the weakness in the stock market due to concerns over AI trading and uncertainty regarding the Federal Reserve's rate-cutting path, now is the time to strategically increase equity exposure; ② A robust outlook for the U.S. economy, sustained strong corporate earnings, receding tariff concerns, and an optimistic international market outlook are expected to drive the stock market through early next year.

cls.cnDec 4 17:43