April 24, 2024

Techs Continue to Outperform; SENSETIME Once Skyrockets 36%, as KUAISHOU Hikes 5%

UBS recently upgraded its rating on Mainland and Hong Kong equities to Overweight. Hong Kong stocks continued to rise this morning (24 Apr), following the uptrend in the past two days. HSI once lifted 318 points to 17,147 and is now printing at 17,086, up 258 points or about 1.5%, with the main board turnover at $59.7 billion. Technology stocks are still leading the rally, with HSTECH printing now at 3,530, up 81 points or about 2.4%.

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April 24, 2024

<Research>HSBC Global Research Cuts BIDU-SW (09888.HK) TP to $141.3, Trims Earning Forecast

HSBC Global Research released a research report on BIDU-SW (09888.HK)  +1.550 (+1.609%)    Short selling $138.17M; Ratio 20.260%   , of which AI LLM "ERNIE Bot" tracked more than 200 million users 13 months after its launch, whereas 85,000 enterprise clients used Qianfan, an AI cloud foundation model platform. The "ERNIE Bot" API is being used 200 million times per day, vs 50 million in 4Q23. Model inference cost was trimmed to only 1% of March 2023 version.

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