OpenAI's GPT-6 Astra marks a new phase for frontier AI, demonstrating leading capabilities in computer usage, scientific research and professional work, CLSA said in a research report. Beyond improvements in benchmark testing, the shortening model iteration cycle is increasing the importance of product experience and brand premium.

Meanwhile, rising training compute demand is reinforcing the scale advantages of leading frontier laboratories. In the broker's view, these trends will expand the AI total addressable market and accelerate progress toward more autonomous research systems and ultimately artificial superintelligence (ASI).

Training compute intensity has once again become an investor focus. NVIDIA Corporation (NVDA.US) founder and CEO Jensen Huang disclosed that Astra was trained using more than 100,000 Grace Blackwell chips, while the next-generation training cluster accelerator could exceed 400,000 units, highlighting the capital-intensive nature of frontier AI.

Based on the broker's estimates, calculated by revenue relative to inference and training compute costs, Anthropic's compute multiple will reach 1.8x in 2Q26 and the company has already achieved profitability, leading globally, while Chinese peers are at around 0.4x.

US peers have already entered competition involving more than 10 trillion parameters, while Chinese laboratories remain at the 3 trillion parameter level. The key challenge in narrowing the capability gap lies in compute supply constraints, partially offset by greater emphasis on post-training, infrastructure efficiency and test-time compute.
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AASTOCKS Financial News
Website: www.aastocks.com

Daiwa issued a research report on Apple Inc. (AAPL.US), of which autumn product launch event this year was hosted by new CEO John Ternus, featuring the foldable iPhone Duo, as well as the iPhone 18 Pro/Pro Max, Watch Series 12/Ultra 4, Apple Intelligence, Siri and AirPods 5.

The broker opined the launch event generally followed a normal pace and largely met expectations, while the launch of Duo may have slightly exceeded expectations. Apple's core ecosystem and customer lock-in/loyalty continue to drive revenue and earnings growth.

This view has been supported over the past 12 months, as the broker estimated the iPhone business will record approximately 20% YoY growth in FY2026, delivering strong performance amid a challenging macro environment.

The broker maintained a positive view on Apple, citing its strong ecosystem and premium products, and expressed particular confidence in Duo. The biggest concern is that the comparison base for the iPhone business in FY2027 will become evidently higher. The broker maintained its Outperform rating on Apple.
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AASTOCKS Financial News
Website: www.aastocks.com

CXMT (688825.SH) recorded an EBIT margin of 82% in 2Q26, leading global competitors and toppling Micron Technology, Inc. (MU.US), Sandisk Corporation (SNDK.US), SK hynix Inc. (SKHY.US), Samsung Electronics and Kioxia, data from Quick FactSet and company disclosure showed.

CXMT produces DRAM used in various devices ranging from smartphones to data centers. Its customers include BABA-W (09988.HK), ByteDance and TENCENT (00700.HK), among other Chinese technology groups.

Although CXMT's absolute profit level remained below that of South Korean competitors and Micron Technology, it was still higher than NAND flash memory makers Kioxia and Sandisk.

SK hynix, Samsung and Micron Technology are focusing on high bandwidth memory (HBM), resulting in insufficient production of general-purpose chips and driving a sharp rise in prices of CXMT's key DDR5 products.
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AASTOCKS Financial News
Website: www.aastocks.com

Chinese chipmaker ENFLAME TECHNOLOGY (688801.SH) debuted on Shanghai's STAR Market this morning (11th), opening at RMB410 per share, 188.37% higher than its IPO price of RMB142.18 per share. The company is developing domestic products that could replace offerings from US competitors such as NVIDIA Corporation (NVDA.US).

ENFLAME TECHNOLOGY's IPO saw strong demand, with the retail tranche oversubscribed by more than 6,000 times, prompting the company to reallocate additional shares to retail investors.

Backed by TENCENT (00700.HK), ENFLAME TECHNOLOGY is regarded as one of China's "Four Little Dragons" of AI chips and the last among the group to go public.

The other three companies also posted surges after listing and have continued trading above their IPO prices. METAX (688802.SH) skyrocketed nearly 700% on its first trading day after listing in December 2025; MOORE THREADS (688795.SH) escalated more than 400% on debut; while BIREN TECH (06082.HK) rallied 76% during its IPO in January this year.

Investors are betting that domestic AI chipmakers can replace NVIDIA in the China market. According to IDC data cited in ENFLAME TECHNOLOGY's prospectus and translated by CNBC, international chipmakers led by NVIDIA accounted for nearly 60% of China's AI accelerator market in 2025.

China's semiconductor industry buildout is accelerating. In an August report, Goldman Sachs said growth in China's foundation models and AI applications is driving development in AI chips, foundries, memory and advanced packaging.

Analysts expected China's semiconductor capex to reach USD82 billion by 2030, driven mainly by memory and advanced process capacity expansion under the generative AI trend.

Domestic startup models such as Moonshot AI's Kimi K3 narrowed the gap with leading US models, while global adoption of Chinese AI systems continues to increase. Rival Z.AI (02513.HK) said its GLM-5.3-Flash model runs entirely on China-made chips. Analysts noted that the company may be using a combination of chips from Huawei, ENFLAME TECHNOLOGY and other domestic suppliers.

BABA-W (09988.HK) is also developing its own AI chips and supporting software while optimizing systems to support major Chinese models.
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AASTOCKS Financial News
Website: www.aastocks.com

OpenAI is considering slowing the pace of frontier AI development, while CEO Sam Altman hopes other AI companies will adopt the same approach, Bloomberg, citing sources, reported.

In recent weeks, employees at multiple leading AI companies have publicly expressed concerns over the rising risks of advanced AI systems. In late July, more than 1,000 employees from major AI companies signed a petition calling for mechanisms to slow the pace of AI development.
~

AASTOCKS Financial News
Website: www.aastocks.com

Meta Platforms, Inc. (META.US)'s AI growth story has historically been less clear than that of some large-cap Tech peers, but the situation may be changing.

JPMorgan analyst Doug Anmuth is preparing to recommend the stock after Meta recently launched Muse. The company said Muse can proactively help users achieve goals while operating in a private and secure manner. The AI agent powered by Meta's Muse model series advanced to No. 3 on the US Apple App Store rankings as of Thursday.

Anmuth said Meta may still be in the early stages of rolling out AI products to consumers, but with progress in personal agents and frontier models, the company has notable upside.

Anmuth upgraded Meta from Neutral, equivalent to Hold, to Overweight, equivalent to Buy, and raised the TP to USD820, implying about 27% upside from the previous night's closing price of USD644.38.

Anmuth noted that most of Meta's AI efforts to date have focused on improving its advertising business, but its AI models will become the foundation for the company's product and monetization pipeline, as well as its path toward superintelligence over the coming years. Superintelligence refers to the stage where AI surpasses the smartest humans across multiple domains.
~

AASTOCKS Financial News
Website: www.aastocks.com

SHENZHEN, China, Sept. 11, 2026 /PRNewswire/ -- Tencent Music Entertainment Group ("TME," or the "Company") (NYSE: TME and HKEX: 1698), the leading all-in-one music and audio entertainment platform in China, today announced the closing of its public offering of US$1,000 million aggregate principal amount of senior unsecured notes consisting of US$500 million of 5.050% notes due 2031 and US$500 million of 5.650% notes due 2036. The notes have been registered under the U.S. Securities Act of 1933, as amended, and are expected to be listed on The Stock Exchange of Hong Kong Limited on September 11, 2026.

The Company received net proceeds from the offering of approximately US$991.9 million, after deducting underwriting discounts and commissions and estimated offering expenses. The Company intends to use the net proceeds from the offering for general corporate purposes, including refinancing of offshore indebtedness and share repurchases.

The joint bookrunners of the offering are J.P. Morgan Securities LLC, Goldman Sachs (Asia) L.L.C. and The Hongkong and Shanghai Banking Corporation Limited. The joint lead managers of the offering are UBS AG Hong Kong Branch, Bank of China Limited and MUFG Securities Asia Limited.

The Company has an automatic shelf registration statement on Form F-3 (including a base prospectus) on file with the U.S. Securities and Exchange Commission (the "SEC") and has filed the related prospectus supplement with the SEC for the offering of the notes. The offering is being made only by means of the prospectus supplement and accompanying base prospectus. Before you invest, you should read the prospectus supplement and accompanying base prospectus and other documents that the Company has filed with the SEC for more complete information about the Company and the offering. You may obtain these documents free of charge by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the Company, any underwriter or any dealer participating in the offering will arrange to send an investor the prospectus if the investor requests it by calling J.P. Morgan Securities LLC located at 270 Park Ave, New York, NY 10017, USA at +1-212-834-4533, Goldman Sachs & Co. LLC, an affiliate of Goldman Sachs (Asia) L.L.C., located at 200 West Street, New York, NY 10282, USA at +1-866-471-2526 or The Hongkong and Shanghai Banking Corporation Limited, located at L17, HSBC Main Building, 1 Queen's Road Central, Hong Kong at +1-866-811-8049.

This announcement is not an offer of the securities for sale in the United States and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The securities referred to herein have not been and will not be registered under the applicable securities laws of any jurisdiction outside of the United States.

About Tencent Music Entertainment

Tencent Music Entertainment Group (NYSE: TME and HKEX: 1698) is the leading all-in-one music and audio entertainment platform in China, operating the country's highly popular and innovative music and audio apps: QQ Music, Kugou Music, Kuwo Music, WeSing and Ximalaya. TME's mission is to create endless possibilities with music and technology. Powered by its content-and-platform dual-engine strategy, TME's expansive offerings extend the value of IP beyond online streaming into offline concerts, artist merchandise, and other IP-centric experiences. TME continuously innovates to deliver a seamless experience where users can discover, listen, sing, watch, perform, and connect across diverse scenarios, while unlocking the enduring value of music and audio IP. For more information, please visit ir.tencentmusic.com.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC and the HKEX. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

Investor Relations Contact
Tencent Music Entertainment Group
[email protected]
+86 (755) 8601-3388 ext. 885034

印證金沙中國投資澳門的長期承諾 

持續拓展非博彩項目    推動澳門經濟適度多元   

澳門2026年9月10日 /美通社/ -- 澳門巴黎人^®將於9月13日迎來開業十周年。十載耕耘，澳門巴黎人不僅成為路氹金光大道的標誌性地標，更印證金沙中國對澳門長遠發展的堅定信心，以及持續拓展非博彩元素、支持澳門經濟適度多元發展和建設世界旅遊休閒中心的長期承諾。開業至今，澳門巴黎人累計吸引來自世界各地逾一億人次到訪。值此十周年誌慶，公司特地策劃一系列慶祝活動，與社會各界及團隊成員共享喜悅時刻，共同見證巴黎人十載非凡璀璨歷程。

作為澳門綜合度假村營運模式的先驅，金沙中國二十多年持續以酒店、零售、娛樂、會展及文旅體驗等非博彩業務為發展重心，致力驅動澳門產業多元發展，而澳門巴黎人正是此發展理念的重要實踐。自2016年9月13日開幕以來，澳門巴黎人標誌著金沙中國在路氹構建的綜合度假城布局完滿落成。

金沙中國悉力將澳門巴黎人打造成世界級旅遊地標。項目歷經四年規劃，其中「澳門巴黎鐵塔」按法國艾菲爾鐵塔二分之一比例建成，採用逾2,800噸鋼鐵及6,600盞燈精心打造，並歷經逾4,500份設計圖的反覆優化，力求完美重現巴黎地標的神韻。鐵塔結合觀景台、愛情鎖橋、「巴黎軒」景觀餐廳及光效匯演等多元體驗，十年來塑造路氹獨具魅力的天際線，更與無數旅客和居民共度節慶歡聚、浪漫難忘的人生珍貴時刻。

金沙中國有限公司行政副主席王英偉博士表示：「澳門巴黎人十周年，是金沙中國支持澳門多元發展的重要里程碑，更見證了公司與澳門同心同行的歷程。十載深耕，澳門巴黎人憑藉多元化的酒店、會展、零售、娛樂及親子設施，不斷豐富澳門的非博彩旅遊元素，成為推動旅遊業高質量發展的重要力量。而標誌性的巴黎鐵塔為金光大道奠定獨特的璀璨光景，更成為無數旅客認識澳門、記憶澳門的城市地標。開業至今，澳門巴黎人累計迎來逾一億人次到訪。這份成果有賴中央人民政府及澳門特別行政區政府的大力支持、社會各界攜手同行，以及團隊成員多年來的熱誠付出。展望未來，金沙中國將繼續秉持初心，持續深化非博彩發展，引進更多國際級項目和體驗，進一步豐富世界旅遊休閒中心內涵，讓旅遊業的蓬勃活力轉化為推動澳門經濟適度多元發展的動能，攜手社會各界共創澳門更精彩的未來。」

十年間，金沙中國持續投入資源，拓展澳門巴黎人的非博彩布局。項目迄今匯聚逾2,540間酒店客房、約62,000平方呎會展設施及1,200個座位的巴黎人劇場；而佔地約297,000平方呎的「巴黎人購物中心」成功引入多個首次進駐澳門的國際時尚品牌，進一步豐富澳門零售旅遊體驗。項目亦設有「Q立方王國」和「水世界」等親子設施，配合多元餐飲選擇，為家庭、商務及休閒旅客打造豐富多元的旅遊休閒體驗，持續豐富澳門世界旅遊休閒中心內涵。

此外，澳門巴黎人在娛樂演出及文化藝術領域亦發揮重要作用。巴黎人劇場多年來引入來自世界各地的精彩演出，包括風靡英國倫敦西區的音樂劇《THRILLER LIVE》，以及享譽全球、具備逾75年歷史的法國經典歌舞秀《永恆的瘋馬》（Crazy Horse Paris），為澳門引入多元國際文化體驗，持續助力澳門構建「演藝之都」。公司亦將藝術文化融入賓客體驗，藉《小王子》主題展覽、泡泡瑪特系列展覽，以及與澳門美術協會、澳門全藝社及東方基金會等合作舉辦藝術展覽，進一步豐富澳門巴黎人的文化氛圍，展現澳門作為中西文化交流平台的獨特魅力。

十年與澳同行   共慶成長里程

為慶祝澳門巴黎人十周年，金沙中國特別呈獻以法國經典童話《小王子》為主題的「漫遊星境」之旅，將這部作品蘊含的探索精神、無限想像與珍視美好事物的哲思融入周年慶典之中；透過一系列主題裝置、期間限定體驗及聯名文創精品，串聯澳門巴黎人的精彩元素，為賓客帶來充滿童趣與驚喜的旅程。公司早前亦舉辦「澳門巴黎人十周年社區同樂日」，邀請130名來自本澳社服機構的家庭成員參與，共享誌慶喜悅。

為鞏固澳門作為聯合國教科文組織「創意城市美食之都」的國際形象，澳門巴黎人亦推出十周年限定「名廚臻宴」系列活動，由8月7日起一連六個週末，邀請七位國際享負盛名的星級名廚輪番獻藝，於澳門巴黎人6樓全新打造的「Le Cristal Parisian」呈獻高端餐饗體驗。活動成為本澳餐飲界的盛事，自推出以來反應熱烈。

此外，公司於8月7日至9月13日期間，逢星期五至星期日晚上於澳門巴黎人上空呈獻
「璀璨光城  無人機匯演」，由1,500架無人機於夜空中勾勒出絢麗奪目的光影圖案，將路氹金光大道幻化為大型戶外光影舞台，為市民及旅客帶來震撼的視覺體驗，為澳門巴黎人十周年誌慶增添歡樂與驚喜，共同分享澳門巴黎人十周年的歡欣。

澳門巴黎人十年來累計接待逾一億人次到訪，這份成果有賴前台及後勤各部門團隊成員多年來堅守崗位、攜手付出，以專業精神和真摯服務，為每一位旅客及市民締造賓至如歸的體驗。為答謝團隊成員多年來的貢獻，金沙中國早前特別舉辦「感謝盛典」誌慶活動，公司管理層與逾2,000名員工歡聚一堂，透過精彩表演及互動遊戲，共同回顧澳門巴黎人十載發展歷程及重要里程碑，分享周年誌慶的喜悅，並攜手迎接未來更多精彩里程碑。

發揮企業平台優勢   助力澳門多元發展

金沙中國一直致力為澳門打造世界級的綜合度假村項目。自2004年開幕澳門首個娛樂綜合體──澳門金沙以來，公司先後於路氹金光大道落成澳門威尼斯人^®、澳門百利宮及澳門四季酒店、澳門巴黎人^®及澳門倫敦人^®，形成互聯互通的綜合度假村集群。迄今，公司旗下擁有逾10,800 間酒店客房、逾160萬平方呎的會展場地、約210萬平方呎的零售空間、780 家零售商店和160家餐廳食肆，以及六個合共設有逾25,000個座位的表演場地，持續豐富澳門「旅遊+」供給，提升城市的國際吸引力及競爭優勢。

澳門巴黎人十年的建設成果，持續為澳門綜合旅遊休閒業注入多元活力。展望未來，公司將持續投入資源，推動非博彩產業的高質量發展，全力支持澳門特區政府經濟適度多元發展的施政方針，攜手社會各界豐富世界旅遊休閒中心建設，共同開拓澳門多元發展的新機遇。

關於金沙中國有限公司

金沙中國有限公司（香港聯交所：1928，「金沙中國」或「公司」）是一所於開曼群島註冊成立的有限公司及在香港聯合交易所有限公司上市的公司。金沙中國是澳門最大的綜合度假村經營商，於路氹金光大道上設有澳門威尼斯人^®、澳門百利宮、澳門巴黎人^®，以及澳門倫敦人^® 等物業項目，同時擁有及經營位於澳門半島的澳門金沙。公司旗下的各綜合度假村集合多樣化的娛樂消閒、商務設施及客運業務，包括大型會議及展覽場地、各式餐廳食肆、購物中心、於威尼斯人綜藝館、倫敦人綜藝館、威尼斯人劇場、巴黎人劇場、倫敦人劇場及金沙劇場舉行的世界級娛樂表演，以及來往港澳的金光飛航高速渡輪服務。公司在路氹金光大道的各物業發展項目，堅定並持續地為建設澳門成為世界旅遊休閒中心貢獻力量。金沙中國是全球度假村發展商拉斯維加斯金沙集團股份有限公司（紐約證券交易所：LVS）的附屬公司。

如欲索取更多相關資訊，請瀏覽網頁https://hk.sandschina.com/index.html。

傳媒查詢：

金沙中國有限公司 – 企業傳訊部
胡美寶                                                                
電話：+853 8118 2268                                      
電郵：[email protected]              

鄭文軒
電話：+853 8118 2054
電郵：[email protected]

• Invited passengers can take fully driverless Robotaxi test rides along a 22-kilometer route, marking a European first
• The move marks further progress under Pony.ai's joint deployment model and advances its "dual-engine" growth strategy and commercialization roadmap in Europe

ZAGREB, Croatia, Sept. 10, 2026 /PRNewswire/ -- Pony AI Inc. ("Pony.ai") (NASDAQ: PONY; HKEX: 2026), a global leader in the large-scale commercialization of autonomous driving technology, and Verne today announced the start of fully driverless Robotaxi test rides with passengers on public roads in Zagreb, marking a European first. The milestone represents a significant step toward fully driverless commercial operations.

The test rides take place along a 22-kilometer route linking Verne's headquarters and one of Zagreb's main business districts with Franjo Tuđman Airport Zagreb. The fully driverless routes will be further expanded in the next few months, with the aim to cover the whole operating area in Zagreb.

The milestone comes just over five months after Pony.ai, Verne and Uber announced their partnership to launch Europe's first commercial Robotaxi service. Under the joint deployment model, Pony.ai provides the autonomous driving technology, Verne leads the service operations, and Uber offers access to the service through its platform. Since the service operated by Verne was launched in early April, the fleet has logged more than 200,000 kilometers in operations, completed several thousand customer rides and achieved an average passenger rating of 4.7 out of 5.

Moving from commercial operations with an onboard AV operator to fully driverless testing represents an important step for both Pony.ai and Verne. It demonstrates Pony.ai's ability to apply technology and operational experience from its fully driverless commercial services in China to real-world deployment in Europe, supported by Verne's operational readiness and work to meet regulatory requirements.

"Fully driverless passenger rides in Zagreb mark an important step in Pony.ai's international growth," said Dr. James Peng, Founder and CEO of Pony.ai. "Together with Verne, we are demonstrating how Pony.ai's Virtual Driver can combine with Verne's local operating and passenger-service capabilities to support a scalable path to commercialization. The progress in Zagreb provides a strong foundation for expanding fully driverless mobility across Europe and other international markets."

"Five months ago, we launched Europe's first commercial Robotaxi service. We are now taking the next step, moving from autonomous driving with an onboard AV operator toward fully driverless operations," said Marko Pejković, CEO of Verne. "This is a major milestone on the path to scaling autonomous mobility in Europe."

The test rides use Pony.ai's seventh-generation Robotaxi, powered by a Pony.ai-developed L4 domain controller built on NVIDIA DRIVE AGX, running on the safety-certified DriveOS operating system. The Robotaxi features a safety architecture combining 360-degree sensor coverage with multiple layers of redundancy and fail-operational capabilities. This architecture has been validated through fully driverless commercial operations in major Chinese cities across complex urban traffic and adverse weather conditions. Pony.ai currently operates fully driverless commercial services in four major Chinese cities and has logged more than 100 million kilometers in autonomous operations worldwide, including over 40 million kilometers in fully driverless mode.

The fully driverless rides in Zagreb are being conducted in accordance with applicable Croatian regulations and the approvals required for autonomous vehicle testing with passengers on public roads.

The milestone further advances Pony.ai's "dual-engine" growth strategy, under which the company is scaling its Robotaxi business across both China and international markets. Overseas, Pony.ai is expanding through its joint deployment model, which brings together autonomous driving technology, access to rider demand and day-to-day fleet operations. The mix of partners can vary by market, allowing the model to adapt to local requirements while supporting a more capital-efficient path to scale. Recent partnerships have expanded Pony.ai's overseas deployment pipeline to more than 4,000 Robotaxis, including plans with Uber to deploy more than 2,000 vehicles across Europe. Pony.ai is targeting a global fleet of more than 3,500 Robotaxis by the end of 2026, with operations spanning more than 20 cities worldwide.

About Pony.ai

Pony AI Inc. is a global leader in achieving large-scale commercialization of autonomous mobility. Leveraging its vehicle-agnostic Virtual Driver technology, a full-stack autonomous driving technology that seamlessly integrates Pony.ai's proprietary software, hardware, and services, Pony.ai is developing a commercially viable and sustainable business model that enables the mass production and deployment of vehicles across transportation use cases. Founded in 2016, Pony.ai has expanded its presence across China, Europe, East Asia, the Middle East and other regions, ensuring widespread accessibility to its advanced technology.

About Verne

Named after Jules Verne, who imagined journeys enabled by technologies long before they existed, Verne is building the operational layer for autonomous mobility in Europe and beyond. Since 2019, Verne has worked on deploying autonomous ride-hailing in complex urban environments through operations, integration and regulatory enablement, making it part of everyday life. In April 2026, those efforts led to the launch of Europe's first robotaxi service. At its core, Verne designs how autonomous mobility works and how it feels, keeping the human in mind.

The HSI closed at 24,954, down 320 points or 1.27%, with full-day turnover at HKD198.865 billion. The HSCEI settled at 8,274, down 94 points or 1.13%. The HSTECH ended at 4,330, down 90 points or 2.04%.

Blockbuster dotcoms led the decline. MEITUAN-W (03690.HK) nosedived nearly 4%; BIDU-W (09888.HK) slumped 3.31%; BABA-W (09988.HK) and KUAISHOU-W (01024.HK) plunged over 2%; and TENCENT (00700.HK) fell off 1.94%.

Chinese banks and insurers advanced. JPMorgan forecast room for higher dividend payout ratios among state-owned Chinese banks, with BANK OF CHINA (03988.HK) and CCB (00939.HK) as top picks. The two stocks rose 0.93% and 1.61%, respectively. ABC (01288.HK) gained 1.27%; ICBC (01398.HK) added 0.86%; CHINA LIFE (02628.HK) soared 2.24%, making it the best-performing blue chip of the day; while PICC P&C (02328.HK) added 1.25%.

DeepSeek cut prices for its latest Flash series. Morgan Stanley warned that price competition may intensify, sending Z.AI (02513.HK) down by 10.34%; MINIMAX-W (00100.HK) down 8.98%; and XUNCE (03317.HK) down 5.5%.

Apple Inc. (AAPL.US) held a product launch event overnight. Goldman Sachs said it was optimistic on Apple supply chain stocks including LINGYI ITECH (01688.HK) and LUXSHARE ICT (02475.HK), although related shares traded mixed today. LINGYI ITECH rallied 3.2%; LUXSHARE ICT tumbled 5.98%; AAC TECH (02018.HK) dipped 2.31%; and SUNNY OPTICAL (02382.HK) declined 1.15%.

Among individual stocks, ZHIDA TECH (02650.HK) proliferated 107.22% on heavy volume to close at HKD14.92, with trading volume of 129 million shares and turnover of HKD1.359 billion.
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