On August 20, BIDU-SW rose 3.06% in regular trading, trading at HK$93.15/share, with turnover of HK$621 million. The stock rebounded following an 11% plunge in the prior session triggered by weaker-than-expected Q2 earnings.

On the news front, Baidu's autonomous ride-hailing platform Apollo Go (Luobo Kuaipao) is supporting MTR Corporation and Hong Kong Airport Authority in launching road tests for an unmanned shuttle service connecting West Kowloon High-Speed Rail Station to Airport Express Kowloon Station. As of end-May, Apollo Go has accumulated over 240,000 km of safe driving in Hong Kong. The platform now covers 28 cities globally with over 350 million km of cumulative autonomous driving mileage.

Multiple institutions including Citi and UBS maintain Buy ratings on Baidu, while JPMorgan assigns a US$175 target price. The overnight U.S.-listed ADR closed up 2.2%, providing positive momentum for the Hong Kong session.

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