HK Stocks Turn Lower. Hua Hong Semi up 14.8%; Tencent up 3%; XPeng up 2%; Alibaba down 2.8%; JD.com down 3.8%; Baidu down 8%.
Hong Kong stock market turned lower on Monday. The Hang Seng Index fell 1.3%, the National Enterprise Index fell 0.63%, the Hang Seng Technology Index fell 1.25%.
Among individual stocks, Tencent rose 3% as WeChat integrated DeepSeek, an AI search function, into its platform, providing a more diversified search experience. This move signifies WeChat's rapid deployment in the AI search field, enhancing its competitive edge in the AI search wave. DeepSeek's launch is expected to improve search accuracy and personalized answers, which is significant for the development of AI applications.
Other Tencent-related shares also rose. Weimob up 8%.
Hua Hong Semi up 14.8%; XPeng up 2%; Alibaba down 2.8%; JD.com down 3.8%.
Baidu Inc., a Tencent rival that’s also building DeepSeek into its search product, plunged as much as 8% in the afternoon in part because of profit-taking ahead of its Tuesday earnings report.
Yum China rose 1.18% after granting equity awards, including stock appreciation rights, restricted stock units, and performance stock units, totaling 815,018 units. On February 14, 2025, Yum China repurchased 12,700 shares for HK$4.6756 million, with a total of 61,400 shares repurchased.
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