Hong Kong Stocks Midday: Hang Seng Index Gains 0.58% in Morning Session, Xiaomi Group Leads Blue Chips

Stock News10-23 12:11

The Hang Seng Index rose 0.58%, up 132 points, to 23,066, while the Hang Seng Tech Index gained 0.86%. Morning turnover in Hong Kong stocks reached HK$125.6 billion.

XIAOMI-W (01810) surged over 5%, leading gains among Hang Seng blue-chip constituents. Xiaomi Group repurchased HK$105 million worth of shares yesterday, the largest repurchase amount among companies that day. CATL (03750) rebounded over 4% as BAIC Group will promote multi-brand compatible models to integrate into the company's chocolate battery swap ecosystem. ANTA Sports (02020) rose 3.8%, with third-quarter overall sales momentum remaining stable, and institutions expect full-year targets still have a basis for achievement. NetEase Cloud Music (09899) jumped over 7% as its CloudEar music model won the championship at the international top-tier MIREX competition. MINIMAX-W (00100) climbed over 4% after open-sourcing the M3.1 Flash model, with Morgan Stanley noting significant cost advantages for Agent tasks. China East Education (00667) gained 4% following the recent release of the China Vocational Education White Paper, with the company being a domestic vocational education leader. Chervon Holdings (02285) rose over 4% as new executive recruitment efforts continue to advance, with AI infrastructure driving high prosperity in power tools. Mao Geping (01318) gained 6% as Double Eleven promotions continue to catalyze growth, with the company's September GMV growth accelerating.

AI hardware stocks declined again. Meta's $825 billion spending commitment ignited credit panic, prompting the market to reassess AI investment returns and financing pressures. YOFC (06869) fell 1.8%; Hua Hong Semiconductor (01347) dropped 2.7%.

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