On the Hong Kong stock futures settlement day, the HSI opened down 155 pts this morning (28th) before picking up. The index settled at 25,584, up 19 pts or 0.07% for the day, with total market turnover at HKD231.209 billion. The HSCEI closed at 8,490, up less than 1 pt. The HSTECH ended at 4,605, down 15 pts or 0.33%.

Among focus stocks, XIAOMI-W (01810.HK) climbed 1.24%; KUAISHOU-W (01024.HK) lost 0.59%; and BABA-W (09988.HK) dropped 1.39%. TENCENT (00700.HK) reversed early losses to gain 1.65% after Tencent Hunyuan released Hy4 preview. Blind tests showed the model slightly outperforming GLM 5.3 from Z.AI (02513.HK) and Kimi K3 from Moonshot AI. Hong Kong's two major AI model stocks came under pressure, with Z.AI plunging 6.03%, while MINIMAX-W (00100.HK) slid 4.51% after CICC lowered its TP.

For blue chips, OOIL (00316.HK) logged a nearly 24% decline in 1H profit, sending its share price down sharply by 8.65%, making it the worst-performing blue chip. SUNNY OPTICAL (02382.HK) soared 3.28% after results, supported by a TP uplift from Citi. LONGFOR GROUP (00960.HK) added 1.65% despite a 39% decline in 1H profit, while NONGFU SPRING (09633.HK) gained 1.3% after CMBI slightly raised its TP.

Lithium stocks rebounded. TIANQI LITHIUM (09696.HK) spiked 3.35% after 1H profit surged nearly 48x. GANFENGLITHIUM (01772.HK) hiked 1.17%, while CATL (03750.HK) edged up 0.49%. BYD ELECTRONIC (00285.HK), which was due to release results today, leapfrogged 6.27%, making it the best-performing blue chip.
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This morning (28th), the HSI opened down 155 pts before reversing higher. At midday, the index closed at 25,684, up 119 pts or 0.47%, with market turnover at HKD117.498 billion. The HSCEI finished at 8,534, up 44 pts or 0.52%. The HSTECH hiked 27 pts or 0.6% to settle at 4,648.

Among major techs, TENCENT (00700.HK) reversed losses after opening lower and mounted 2.19%; XIAOMI-W (01810.HK) rallied 2.62%; KUAISHOU-W (01024.HK) climbed 1.37%; MEITUAN-W (03690.HK) and BIDU-SW (09888.HK) added less than 1%. BABA-W (09988.HK) dipped 0.78%.

Among blue chips, OOIL (00316.HK) logged a nearly 24% decline in 1H profit, with shares falling 7.43% by midday, making it the worst-performing blue chip. HSMIC (00981.HK) lifted 0.42% after interim net profit surged 1.1x. CHINA LIFE (02628.HK) grew 1.23% after interim dividend spiked 50%. SUNNY OPTICAL (02382.HK) advanced 4.06% after results and a TP upgrade by Citi. BOC HONG KONG (02388.HK) strengthened ahead of earnings announcement, closing up 2.57% at midday.

KINGBOARD HLDG (00148.HK)'s controlling shareholder increased holdings by 200,000 shares on Wednesday, while KINGBOARD HLDG also increased its stake in KB LAMINATES (01888.HK) by 575,500 shares on the same day. KB LAMINATES soared another 4.23%, while KINGBOARD HLDG (00148.HK) dipped 0.09%.

Lithium stocks picked up. TIANQI LITHIUM (09696.HK) rallied 4.6% after 1H profit swelled nearly 48x; GANFENGLITHIUM (01772.HK) jumped up 2.2%; CATL (03750.HK) inched up 0.73%; and BYD ELECTRONIC (00285.HK) escalated 6.61%, becoming the best-performing blue chip at midday.
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Amazon.com, Inc. (AMZN.US)'s Amazon Web Services (AWS) and NVIDIA Corporation (NVDA.US) radically expanded their strategic partnership.

The two parties plan to deploy an additional 2 million NVIDIA GPUs across AWS's global infrastructure, while deepening cooperation in AI factories, CPUs, networking, open models, data processing and robotics technologies.

Through jointly designed solutions, they aim to help customers accelerate AI development at unprecedented scale. NVIDIA Vera CPU will be launched on AWS, providing additional computing options for Agentic AI.

The expanded partnership complements AWS's in-house chip product lineup, enabling customers to flexibly choose the optimal computing solution based on specific workloads, whether using NVIDIA GPUs, Amazon Trainium chips, or a combination of both.
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The three major US stock indices closed higher, with the Nasdaq gaining more than 1%, driven by an 8.7% surge in NVIDIA Corporation (NVDA.US) after strong earnings results.

This morning (28th), the HSI opened at 25,410, down 155 points or 0.61%; the HSTECH opened at 4,580, down 39 points or 0.85%; and the HSCEI opened at 8,425, down 64 points or 0.76%.

Among major techs, BABA-W (09988.HK) lost 2.08%; MEITUAN-W (03690.HK), JD-SW (09618.HK) and BIDU-SW (09888.HK) shed more than 1%; while TENCENT (00700.HK) lost 0.85%.

Among blue chips, OOIL (00316.HK) opened 5.5% lower after its 1H profit dropped nearly 24%; HAIER SMARTHOME (06690.HK) slid 3.55% after results; SMIC (00981.HK) rose 0.42% after its interim net profit spiked 1.1x; CHINA LIFE (02628.HK) added 0.82% after interim dividend jumped up 50%; INNOVENT BIO (01801.HK) dived 2.14% after Temasek reduced its stake to below 5%.

Several Chinese banks are set to announce results shortly. ABC (01288.HK) faded 1.36%; BANK OF CHINA (03988.HK) opened 0.45% lower; ICBC (01398.HK) opened down 1.01%; and BANKCOMM (03328.HK) opened down 1.66%.

Among individuals, BILIBILI-W (09626.HK) gained 1.77% after adjusted net profit for the previous quarter climbed 25%; SHIMAO GROUP (00813.HK) faced another winding-up petition, with shares opening 10.45% lower.
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TIME magazine released its TIME100 AI 2026 list of the world's 100 most influential people in AI field, with BABA-W (09988.HK) CEO Eddie Wu included on the annual ranking.

Others on the list include SpaceX CEO Elon Musk, OpenAI co-founder Sam Altman, ByteDance CEO Liang Rubo, Amazon.com, Inc. (AMZN.US) founder Jeff Bezos, and Anthropic co-founders Dario Amodei and Daniela Amodei.

TIME magazine said Alibaba is transforming into a global pioneer in open-source AI, having committed at least USD53 billion this year to AI and cloud infrastructure investment, and set a target of achieving annualized AI revenue of USD4.4 billion by year-end.

The magazine quoted Eddie Wu as saying that the democratization of AI will further narrow the education gap and enable fairer and more reasonable allocation of medical resources, while continuing to unleash vitality across society.
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OpenAI has launched its in-house Jalapeno chip, saying its performance in testing surpasses NVIDIA Corporation (NVDA.US)'s existing product lineup. NVIDIA CEO Jensen Huang appeared unfazed by the challenge from Jalapeno, saying that even as customers develop their own chips, he remains confident in NVIDIA Corporation's technology and its ability to supply the industry.

Asked about OpenAI developing chips that could challenge NVIDIA Corporation while also receiving billions of USD in investment from the company, Huang said he does not mind competition. He noted that the AI chip industry is full of uncertainty, with many projects being launched while many others are cancelled.
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This morning (27th), the HSI opened up 121 pts before turning south, once fading 152 pts to a trough of 25,500. The index closed at 25,565, down 87 pts or 0.34%, with market turnover at HKD233.5 billion. The HSCEI finished at 8,490, down 43 pts or 0.51%. The HSTECH ended at 4,620, down 5 pts or 0.13%.

Among major techs, BIDU-SW (09888.HK) will convert to dual primary listing status on the Stock Exchange starting next Tuesday, with its share price mounting 5.34% for the day. TENCENT (00700.HK) added 0.54%; MEITUAN-W (03690.HK) fell 0.7%; and NTES (09999.HK) dropped more than 1%. XIAOMI-W (01810.HK) slid 3.44%, making it the worst-performing blue chip of the day.

NVIDIA Corporation (NVDA.US) reported quarterly results that beat expectations, with shares soaring nearly 5% in after-hours trading. Hong Kong-listed chip and AI hardware stocks followed higher. HUA HONG GRACE (01347.HK), which will become an HSI constituent, elevated 4.51% after logging a fourfold spike in interim profit. SMIC (00981.HK) jumped up 2.3%; ILUVATAR COREX (09903.HK) rallied 10.54%; MONTAGE TECH (06809.HK) proliferated 12.3%; and GIGADEVICE (03986.HK) shot up 7.05%.

Among AI large model stocks, MINIMAX-W (00100.HK) swelled 3.83% after Citi raised its TP following results, saying the company's annualized revenue in August exceeded USD800 million and beat expectations. Z.AI (02513.HK) jumped up 12.62% after its GLM-5.3-Flash model was launched and open-sourced.

Printed circuit board (PCB) and copper clad laminate (CCL) stocks ascended this morning alongside A-share peers. KB LAMINATES (01888.HK) mushroomed 10.51%; KINGBOARD HLDG (00148.HK) advanced 7.2%; CFMEE (09630.HK) ballooned 4.02%; HANS CNC (03200.HK) elevated 6.07%; and VGT (02476.HK) leapfrogged 6.93%.

Optical communication concept stocks also fared well. ZJ INNOLIGHT (03308.HK) climbed 3.05%; YOFC (06869.HK) rebounded sharply by 10.31%; CREALIGHTS (01191.HK) skyrocketed 5.49%; and CIG (06166.HK) escalated 5.22%.
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NVIDIA Corporation (NVDA.US) shares elevated in Thursday's (27th) pre-market session after the chip giant's revenue guidance convinced investors that AI demand will remain strong.

The stock was last up 5.95% in pre-market trading.

NVIDIA CFO Colette Kress said on Wednesday (26th) that the company estimated revenue to grow 70% in FY2028, which runs from February 2027 to January 2028. CEO Jensen Huang said demand is way above 70%, but the company is constrained by the volume of products it can supply.

TSMC (TSM.US), NVIDIA's main manufacturer, continues to face supply constraints, while memory chips, a key component in NVIDIA's systems, also remain in short supply.

Analysts on Thursday also pointed out that customized semiconductors recently announced by hyperscale cloud service providers and AI labs such as OpenAI pose a "threat" to NVIDIA's near-monopoly position in the most advanced AI chip market.

Huang said NVIDIA has never made forecasts one year in advance in the past, but the company now has greater visibility across the entire supply chain, enabling it to make such projections.

NVIDIA issued the forecast as investors remain concerned about capital expenditure by major tech companies, the cyclicality of financing deals, and returns on AI investments.

The tech giant's comments on AI demand appeared to ease some of those concerns. Jensen Huang said AI has reached an inflection point, with the number of companies requiring large GPU clusters having increased significantly.
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Microsoft Corporation (MSFT.US) founder Bill Gates published an article issuing a stern warning over the risks posed by AI to employment and human survival. He said this could become one of the most turbulent periods in human history, adding that he has not seen leaders, experts or society adequately addressing these challenges.

He said AI will rapidly affect both white-collar and blue-collar jobs, with entry-level and mid-level positions facing the greatest risk of elimination. As unemployment spikes, demands for social welfare support will increase.

He also mentioned the risks of cyberattacks on power grids, hospitals and banks, while fraud and surveillance could become pervasive. At the same time, AI could have profound effects on children by providing frictionless companionship, which may weaken people's critical thinking abilities.
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In response to recent rumors that the launch of supervised Full Self-Driving (FSD) in China has no prospect of proceeding, Tesla (TSLA.US) said the information is false and that it reported the case to the Chinese public security authorities.

The company's data center is operating normally, while recruitment for assisted-driving operations is accelerating and related work is progressing steadily.

Earlier, market rumors suggested that Tesla's Shanghai data center, which was specifically prepared for the China rollout of FSD, had been vacated, with all related liaison teams withdrawn.
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