Movement Alert｜BIDU-SW Rises 3.06% in Regular Trading, Apollo Go Launches Road Tests at Hong Kong Core Transport Hub

Market Focus

Aug 20

On August 20, BIDU-SW rose 3.06% in regular trading, trading at HK$93.15/share, with turnover of HK$621 million. The stock rebounded following an 11% plunge in the prior session triggered by weaker-than-expected Q2 earnings.

On the news front, Baidu's autonomous ride-hailing platform Apollo Go (Luobo Kuaipao) is supporting MTR Corporation and Hong Kong Airport Authority in launching road tests for an unmanned shuttle service connecting West Kowloon High-Speed Rail Station to Airport Express Kowloon Station. As of end-May, Apollo Go has accumulated over 240,000 km of safe driving in Hong Kong. The platform now covers 28 cities globally with over 350 million km of cumulative autonomous driving mileage.

Multiple institutions including Citi and UBS maintain Buy ratings on Baidu, while JPMorgan assigns a US$175 target price. The overnight U.S.-listed ADR closed up 2.2%, providing positive momentum for the Hong Kong session.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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