On May 9, 2025, the Hong Kong stock market opened with mixed performance. The Hang Seng Index rose by 0.40%, while the Hang Seng Technology Index fell by 0.93%.
SMIC fell by 4.76% after reporting strong first-quarter results but providing guidance for a decline in revenue and gross margin for the second quarter. Hua Hong Semi dropped by 7.94% due to market pessimism and a significant decline in its performance.
Among individual stocks, Pop Mart rose by 6.76%, while Ali Health fell by 2.16%. Xiaomi increased by 1.08% as the market showed optimism towards its upcoming financial report and HSBC Research raised its target price to HKD 73.5. NIO also saw a rise of 1.50%. In contrast, BYD Electronic fell by 1.19%.
Alibaba saw a rise of 1.73% after CEO Wu Yongming called for a return to the company's entrepreneurial spirit and emphasized the importance of innovation in the face of the AI technology revolution. Additionally, Alibaba's call options surged by 3000%, and put options for Tencent increased by 1400%, with a trading volume of 35,000 contracts.
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