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Hong Kong stocks opened higher, with the Hang Seng Index up 0.58% and the Tech Index up 0.15%. Many stocks in the biopharmaceutical sector opened higher, with Kelun Biotech (06990.HK) up 4.19% and Joinn Laboratories (06127.HK) up 1.89%.

2026-07-16

Hong Kong stocks opened higher, with the Hang Seng Index up 0.58% and the Tech Index up 0.15%. Many stocks in the biopharmaceutical sector opened higher, with Kelun Biotech (06990.HK) up 4.19% and Joinn Laboratories (06127.HK) up 1.89%.

Other News
2026-07-16

On the afternoon of July 16 CHINA will attend a signing ceremony with Kazakh President Tokayev at the Shanghai Xijiao Guesthouse.

On the afternoon of July 16 CHINA will attend a signing ceremony with Kazakh President Tokayev at the Shanghai Xijiao Guesthouse.
2026-07-16

CLSA cuts its Baidu (BIDU.O) US target to $150 from $176 and keeps an OUTPERFORM rating. The bank forecasts 2Q26 core revenue down 4.2% YoY to RMB25.1bn, with search marketing revenue falling about 22% YoY. AI cloud infrastructure revenue is seen up

CLSA cuts its Baidu (BIDU.O) US target to $150 from $176 and keeps an OUTPERFORM rating. The bank forecasts 2Q26 core revenue down 4.2% YoY to RMB25.1bn, with search marketing revenue falling about 22% YoY. AI cloud infrastructure revenue is seen up 56% YoY to RMB7.6bn and subscription revenue growth accelerating further from 184% YoY in 1Q. CLSA forecasts adjusted EBIT for the quarter down 14% YoY to RMB3.8bn, implying an adjusted EBIT margin of roughly 15%, citing a decline in high-margin online marketing revenue and higher model-training investment. It warns that a bumpy AI transition, weak model competitiveness and a cloud business lacking MaaS and application revenue could further pressure search and cloud monetization. CLSA trims its 2026 and 2027 adjusted net profit estimates by 24% and 18%, respectively.
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