On Tuesday, 12 May 2026, Hong Kong stocks opened broadly higher. The Hang Seng Index rose 0.34%, the Hang Seng China Enterprises Index gained 0.20%, the Hang Seng Tech Index advanced 0.45%, and the Hang Seng China-Affiliated Corporations Index added 0.38%, reflecting a generally positive risk appetite across the market.
KUAISHOU-W soared 10%; YOFC, CIG up around 5%; Lingbao Gold up over 4%; InnoScience up over 2%; Alibaba, Tencent, Meituan down slightly.
KUAISHOU-W plans to demerge its Kling AI video generation business for listing in 2027, with a goal of raising USD2 billion at a target valuation of USD20 billion, aAccording to The Information and Chinese media reports. The company is in discussions with investors including TENCENT
As of January, Kling AI's ARR exceeded USD300 million. KUAISHOU-W CEO Cheng Yixiao voiced confidence that Kling AI's revenue will record substantial YoY growth in 2026. By the end of April, Kling AI's ARR reached USD500 million, sources divulged.
By sector, Hong Kong gold miners outperformed, with LINGBAO GOLD up 4.55%, CHINAGOLDINTL up 3.58%, ZIJIN GOLD INTL up 3.66%, CHINAGOLDINTL and ZHAOJIN MINING also recording gains, while CHIFENG GOLD and SD GOLD advanced over 2%. The move suggests continued interest in precious metals plays.
In the Hong Kong optical communication space, YOFC climbed 5.63% and CIG gained 4.81%, while FIT HON TENG also moved higher, indicating strong buying in fiber and related hardware names.
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