The Hong Kong stock market advanced on Wednesday morning, with the benchmark index closing higher.

The Hang Seng Index rose 1.46%, adding 370 points to reach 25,768 points. The Hang Seng Tech Index performed even more strongly, gaining 3.48%. Trading volume in the morning session was substantial, reaching HK$200.1 billion.

Tencent Holdings Ltd (HKG: 0700)

Shares of Tencent surged 7.75% in early trading. The rally was reportedly fueled by news that the company is nearing the launch of an AI assistant for its WeChat messaging platform.

Alibaba Group Holding Ltd (HKG: 9988)

Alibaba's stock also gained more than 5%. The increase followed the official release of its upgraded large language model, Qwen3.7-Plus, by its Tongyi Qianwen division.

Macau Gaming and Casino Stocks

Gaming shares continued their upward trend. The positive sentiment was supported by data showing a 6.7% year-on-year increase in Macau's gross gaming revenue for May. Additional momentum came from reports that a media mogul is considering a US$18 billion acquisition of MGM Resorts.

MGM China Holdings Ltd (HKG: 2282)

Shares of MGM China jumped 7%.

Wynn Macau Ltd (HKG: 1128)

Wynn Macau's stock climbed 4%.

VSTECS Holdings Ltd (HKG: 0856)

VSTECS shares soared over 13%, hitting a new record high. The company's storage products have reportedly entered the supply chains of major tech firms, including Alibaba.

Weimob Inc (HKG: 2013)

Weimob's stock skyrocketed 16%. The company's marketing unit launched a new AI-powered talent selection system, named "Tianxuan AI Talents."

Kingsoft Cloud Holdings Ltd (HKG: 3896)

Kingsoft Cloud shares rose more than 7%. The company is strategically positioned in the AI cloud infrastructure sector, with its intelligent computing cloud services exceeding 50% of its total revenue for the first time in the first quarter.

Sinotruk Hong Kong Ltd (HKG: 3808)

Sinotruk's stock gained over 9%. The heavy-duty truck manufacturer reported a nearly 40% year-on-year sales increase for April, indicating sustained strong demand in the sector.

SF Intra-City (HKG: 9699)

SF Intra-City shares advanced more than 5%. Analysts suggest the expansion of on-demand retail services could help offset high comparable sales in the food delivery segment.

Yangtze Optical Fibre and Cable Joint Stock Ltd (HKG: 6869)

Yangtze Optical Fibre and Cable stock surged over 9%. The AI supercycle is seen as a major driver for high demand in optical fibre, with analysts expecting supply shortages to persist.

Kintor Pharmaceutical Ltd (HKG: 9939)

Kintor Pharmaceutical's shares rose another 8%. The company presented data from two key clinical studies for its drug candidate KX-826 at the WCHR 2026 conference.

CALB Co Ltd (HKG: 3931)

CALB's stock gained over 5% before the midday break. Citigroup analysts noted that strong demand for energy storage systems (ESS) and electric vehicle (EV) batteries is expected to support the company's high shipment growth.

Gold Mining Stocks

Gold-related stocks generally faced downward pressure. The price of gold experienced volatile declines due to fluctuating Middle East tensions, while expectations for further interest rate hikes by the US Federal Reserve continued to build.

Tongguan Gold Group Ltd (HKG: 0340)

Shares of Tongguan Gold fell 2.7%.

Zijin Mining Group Co Ltd (HKG: 2899)

Zijin Mining's stock declined 2.78%.