Zhipu (02513.HK) is reportedly considering a Hong Kong share placement to raise several billion U.S. dollars, potentially as early as next month.

央行：2026年6月25日，中國人民銀行將以固定數量、利率招標、多重價位中標方式開展5000億元MLF操作，期限爲1年期。

By midday in Hong Kong the Hang Seng Index was up 0.04% and the Hang Seng Tech Index gained 1.34%. Morning turnover reached HK$175.56 billion. Sector gains were led by pharma outsourcing (CDMO), storage, optical communications and chip stocks; declines were concentrated in rare earths, power equipment, Chinese brokers and commercial space. Notable stock moves: Huahong Hongli (01347.HK) +16%, WuXi AppTec (02359.HK) +9%, SMIC (00981.HK) +8%, Zhipu (02513.HK) +5%, BeiGene (06160.HK) +4%; MINIMAX-W (00100.HK) -5%, China Life (02628.HK) -4%, Midea Group (00300.HK) -3%.