Hong Kong Stocks Movement: AI Concept Shares Mostly Advance; KINGSOFT CLOUD (03896) Surges 14.6%, MARKETINGFORCE (02556) Jumps 9.55%

Market Watcher
16 Jul

Artificial intelligence concept stocks demonstrated broad strength in Hong Kong trading. At press time, KINGSOFT CLOUD (03896) soared 14.6% to HK$7.77, while GDS Holdings-SW (09698) climbed 10.45% to HK$38.05. MARKETINGFORCE (02556) registered a 9.55% gain at HK$52.20, and Alibaba Group (09988) advanced 5.18% to HK$111.60. Fourth Paradigm (06682) rose 4.73% to HK$53.10, with Kingdee International (00268) increasing 4.25% to HK$16.20.

This upward momentum follows NVIDIA CEO Jensen Huang's July 15 announcement regarding U.S. approval for H20 chip exports to China. Huang simultaneously revealed plans for NVIDIA's upcoming RTXpro GPU—a specialized graphics processor engineered for computational imaging, digital twin simulations, and artificial intelligence applications.

Market analysts observe intensifying global competition in AI development. Minsheng Securities highlighted that major model releases like Grok4 and Kimi K2 could substantially accelerate domestic computing demand and application ecosystems, expressing optimism about China's computing infrastructure and AI implementation prospects. Huaan Securities noted recent upgrades across multiple domestic models, citing Alibaba's Tongyi Lab open-sourcing its HumanOmniV2 multimodal reasoning model and Moonshot AI's July 11 launch of the open-source Kimi K2 model. The brokerage recommends heightened attention to AI application sectors.

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