$HK1810 Xiaomi Group HK$25.040, up 2.12 percentage points; technical rebound after a sustained decline
It closed at HK$25.040, up 2.12 percentage points, compared with around HK$24.460 at the previous session’s close. It fell 5.93 percentage points in a single day on October 12. Resistance: HK$26.50 and HK$28.00; support: HK$24.00 and HK$23.00. In the automotive business, AITO plans to enter the European market in 2027, and EU whole-vehicle type approval has been fully launched, boosting sentiment across the automotive industry chain. $BYD BYD Company Limited closed at HK$73.250, down 1.48 percentage points. Resistance: HK$74.70 and HK$77.60; support: HK$71.70 and HK$71.40. Caution is warranted as it approaches its 52-week low.
$TENCENT Tencent Holdings HK$425.20, down 0.14 percentage points; a stabilizer among heavyweight stocks
It closed at HK$425.20, down 0.14 percentage points. Southbound funds had previously recorded a single-day net purchase of HK$2.452 billion in Tencent. Resistance: HK$430.40 and HK$436.00; support: HK$420.00 and HK$412.00. BABA Alibaba closed at HK$107.20, down 0.92 percentage points. Resistance: HK$110.40 and HK$115.00; support: HK$105.00 and HK$102.00. BABA Alibaba closed at HK$107.20, down 0.92 percentage points. Resistance: HK$110.40 and HK$115.00; support: HK$105.00 and HK$102.00. KUAISHOU Kuaishou closed at HK$29.160, down 0.34 percentage points. Resistance: HK$30.00 and HK$31.50; support: HK$28.20 and HK$27.00. $POPMART Pop Mart closed at HK$150.20, up 0.40 percentage points. Resistance: HK$155 and HK$162; support: HK$147 and HK$140.
$MINIMAX HK$212.00 and MINIMAX HK$212.00 and $ZHIPU Zhipu HK$601.00; the two AI-model leaders trade in a narrow range at low levels
MINIMAX closed at HK$212.00, down 0.93 percentage points. Its intraday low of HK$200.20 was just above the offering price. Its market capitalization was approximately HK$74.7 billion, down about 84 percentage points from HK$1,330. Zhipu closed at HK$601.00, down 2.91 percentage points, with a market capitalization of approximately HK$293 billion, down about 80 percentage points from HK$2,980. The two companies’ revenues differ by less than 20%, and their adjusted net losses are almost identical, yet their market capitalizations differ fourfold. The wave of overseas model price cuts has a more direct impact on MiniMax, as more than 70% of its revenue comes from overseas subscriptions. OpenAI Luna’s API prices are 50 percentage points lower than those of the previous generation. Zhipu resistance: HK$619 and HK$660; support: HK$580 and HK$520. MINIMAX resistance: HK$216.80 and HK$228; support: HK$200.20.
It closed at HK$25.040, up 2.12 percentage points, compared with around HK$24.460 at the previous session’s close. It fell 5.93 percentage points in a single day on October 12. Resistance: HK$26.50 and HK$28.00; support: HK$24.00 and HK$23.00. In the automotive business, AITO plans to enter the European market in 2027, and EU whole-vehicle type approval has been fully launched, boosting sentiment across the automotive industry chain. $BYD BYD Company Limited closed at HK$73.250, down 1.48 percentage points. Resistance: HK$74.70 and HK$77.60; support: HK$71.70 and HK$71.40. Caution is warranted as it approaches its 52-week low.
$TENCENT Tencent Holdings HK$425.20, down 0.14 percentage points; a stabilizer among heavyweight stocks
It closed at HK$425.20, down 0.14 percentage points. Southbound funds had previously recorded a single-day net purchase of HK$2.452 billion in Tencent. Resistance: HK$430.40 and HK$436.00; support: HK$420.00 and HK$412.00. BABA Alibaba closed at HK$107.20, down 0.92 percentage points. Resistance: HK$110.40 and HK$115.00; support: HK$105.00 and HK$102.00. BABA Alibaba closed at HK$107.20, down 0.92 percentage points. Resistance: HK$110.40 and HK$115.00; support: HK$105.00 and HK$102.00. KUAISHOU Kuaishou closed at HK$29.160, down 0.34 percentage points. Resistance: HK$30.00 and HK$31.50; support: HK$28.20 and HK$27.00. $POPMART Pop Mart closed at HK$150.20, up 0.40 percentage points. Resistance: HK$155 and HK$162; support: HK$147 and HK$140.
$MINIMAX HK$212.00 and MINIMAX HK$212.00 and $ZHIPU Zhipu HK$601.00; the two AI-model leaders trade in a narrow range at low levels
MINIMAX closed at HK$212.00, down 0.93 percentage points. Its intraday low of HK$200.20 was just above the offering price. Its market capitalization was approximately HK$74.7 billion, down about 84 percentage points from HK$1,330. Zhipu closed at HK$601.00, down 2.91 percentage points, with a market capitalization of approximately HK$293 billion, down about 80 percentage points from HK$2,980. The two companies’ revenues differ by less than 20%, and their adjusted net losses are almost identical, yet their market capitalizations differ fourfold. The wave of overseas model price cuts has a more direct impact on MiniMax, as more than 70% of its revenue comes from overseas subscriptions. OpenAI Luna’s API prices are 50 percentage points lower than those of the previous generation. Zhipu resistance: HK$619 and HK$660; support: HK$580 and HK$520. MINIMAX resistance: HK$216.80 and HK$228; support: HK$200.20.