Hong Kong stocks surging | Reports claim Alibaba and Baidu are using self-developed chips to train AI models. Alibaba (09988.HK) opens nearly 6% higher, Baidu (09888.HK) opens nearly 4% higher.

According to the Securities Times app, Alibaba and Baidu opened higher in the morning. As of press time, Alibaba-W (09988.HK) rose by 5.86% to 151.7 Hong Kong dollars, while Baidu Group-W (09888) rose by 3.76% to 110.5 Hong Kong dollars.