Hong Kong Stocks Closed Lower. Weimob Soared 35.8%; Tencent Rose 2.27%, Alibaba Fell 1.3%; Baidu Slid 4.16%

Market Watcher12-19

Hong Kong stock market closed lower. The Hang Seng Index fell by 0.56%, the Hang Seng China Enterprises Index decreased by 0.40%, the Hang Seng Tech Index dropped by 0.66%, and the Hang Seng China-Affiliated Corporations Index declined by 0.69%.

In terms of sectors, the aviation sector performed well, with Air China rising 5.24%, China Southern Airlines increasing 5.00%, and Beijing Capital International Airport up 3.94%. The Evergrande series also saw gains, with Evergrande Services up 1.32% and China Ruyi rising 3.67%. However, the property management sector experienced a decline, with KWG Living down 1.54% and Times China falling 5.48%.

Weimob Inc Inc soared 35.76% while Tencent rose 2.27% as reports emerged that Apple is in early-stage talks with Tencent and ByteDance to integrate their AI models into iPhones sold in China. This news led to a 3% surge in Tencent's stock price, reaching a five-day high.

Alibaba fell 1.31% after announcing the sale of its stake in Intime Retail, expecting to raise approximately 7.4 billion yuan, with an estimated loss of about 9.3 billion yuan. Morgan Stanley predicts that Alibaba may distribute a special dividend.

HSBC Holdings decreased by 0.87% after announcing a reduction in its Hong Kong dollar prime rate from 5.375% to 5.25%, effective December 20.

BOC Hong Kong fell 0.40% as it followed HSBC in lowering its Hong Kong dollar prime rate to 5.25%.

Baidu-SW dropped 4.16% amid reports that Apple is in early discussions with Tencent and ByteDance to integrate their AI models into iPhones sold in China.

ZTE surged 6.01% as rumors circulated about a potential collaboration with ByteDance to launch a new brand. Although no concrete plans have been confirmed, analysts believe ZTE is well-positioned to capitalize on the growing demand for AI and computing power.

Weimob Inc skyrocketed 35.76% after announcing that its mini-program is integrating with Tencent's WeChat Shop, enhancing the shopping experience for users and driving significant growth for the company.

Ascentage Pharma rose 6.90% after presenting promising clinical data for its drugs at the ASH conference, leading to positive market sentiment and expectations of high revenue growth.

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