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Baidu, Inc. (BIDU.US) (09888.HK) +2.500 (+2.306%) Short selling $463.68M; Ratio 24.693% 's 1Q24 results were in line with expectations, with revenue hiking 1% YoY to RMB31.5 billion, in line with market consensus, UOB Kay Hian released a research report saying. Non-GAAP net profit rose 22% YoY to RMB7 billion, benefiting from a one-off gain, also exceeding the market's expectation by 26%.
UOB Kay Hian noted in a report that JD-SW (09618.HK) +1.700 (+1.284%) Short selling $196.38M; Ratio 10.404% 's 1Q24 revenue rose 7% YoY, slightly beating the broker's and the market's expectations. The group's non-GAAP net profit of RMB8.9 billion also topped broker and consensus forecasts.
The HSI hiked 177 points or 0.9% to close at 19,553. The HSCEI climbed 63 points or 0.9% to close at 6,934. The HSTECH picked up 40 points or 1% to close at 4,112. Total market turnover for the day amounted to $179.304 billion.
China Merchants Securities highlighted in a report that Alibaba (BABA.US) 's revenue rose 7% YoY to RMB222 billion in the quarter ended March, beating forecasts by 1%.
According to Chinese technology media 36Kr.com, TENCENT (00700.HK) +1.400 (+0.356%) Short selling $1.07B; Ratio 9.649% (TCEHY.US) has officially released the 256k long-text variant of its Hunyuan foundation model to the public. It will be opened to a wide range of enterprise and individual developers through Tencent Cloud to support a wider range of innovations and applications.
The Organization of the Petroleum Exporting Countries and its partners (OPEC+) will meet early next month to review the current voluntary production cuts, and UBS expected the oil producers to agree to an extension of the programme in order to maintain the balance of the oil market, foreign media reported.
TENCENT (00700.HK) +1.400 (+0.356%) Short selling $1.07B; Ratio 9.649% 's major South African shareholder Naspers, as well as Naspers's Dutch subsidiary Prosus, have jointly announced the appointment of Fabricio Bloisi to the post of CEO, replacing Ervin Tu, who has been serving as interim CEO.
Xiaomi SU7 announced OTA update, in which its Hyper smart cockpit will add wireless Apple CarPlay and intelligent driving first-ever end-to-end technology valet parking function, which are now being pushed out successively, according to Chinese media.
XPENG-W (09868.HK) +0.400 (+1.272%) Short selling $96.95M; Ratio 14.731% (XPEV.US) officially entered the French market yesterday (16th) with the launch of "XPeng G9" in Paris.
HSBC HOLDINGS (00005.HK) -1.550 (-2.211%) Short selling $346.37M; Ratio 13.774% repurchased a total of 6.1036 million shares in the UK and Hong Kong markets yesterday (16th), for a total of $427 million, according to HSBC HOLDINGS' announcement.