Market Update
Rally in Tech Stocks Keeps Market Momentum Alive In Mainaland China and Hong Kong
Li Chen
13 May, 2026
Hong Kong
China's indexes hugged the flatline, and investors reviewed the stalled peace process in the Middle East.
The Hang Seng Index declined 0.2%, the mainland-focused CSI 300 Index advanced 0.7%, and investors remained focused on corporate news.
The Brent crude oil prices decreased 1% to $106.10 a barrel, and prices remained elevated amid prolonged supply disruptions through the Strait of Hormuz.
A high-stakes summit between the leaders of China and the U.S. between May 14 and 15 is expected to cover several sensitive trade, military, and geopolitical issues.
However, investors are less enthusiastic about an immediate outcome that could lead to the reopening of the Strait of Hormuz.
China Indexes and Stocks
The Hang Seng Index decreased 0.2% to 26,286.79, and the mainland-focused CSI 300 Index rose 0.7% to 4,982.0.
Tech stocks erased some of the gains of the previous session, as investors booked profits.
Alibaba Group fell 0.4%, Tencent Holdings gained 1.2%, Baidu.com Inc. fell 1.6%, and Meituan advanced 4%.
China Wednesday
Li Chen
13 May, 2026
Hong Kong
China's indexes hugged the flatline, and investors reviewed the stalled peace process in the Middle East.
The Hang Seng Index declined 0.2%, the mainland-focused CSI 300 Index advanced 0.7%, and investors remained focused on corporate news.
The Brent crude oil prices decreased 1% to $106.10 a barrel, and prices remained elevated amid prolonged supply disruptions through the Strait of Hormuz.
A high-stakes summit between the leaders of China and the U.S. between May 14 and 15 is expected to cover several sensitive trade, military, and geopolitical issues.
However, investors are less enthusiastic about an immediate outcome that could lead to the reopening of the Strait of Hormuz.
China Indexes and Stocks
The Hang Seng Index decreased 0.2% to 26,286.79, and the mainland-focused CSI 300 Index rose 0.7% to 4,982.0.
Tech stocks erased some of the gains of the previous session, as investors booked profits.
Alibaba Group fell 0.4%, Tencent Holdings gained 1.2%, Baidu.com Inc. fell 1.6%, and Meituan advanced 4%.
U.S. Movers: AMD, Duolingo
Scott Peters
07 May, 2026
New York City
Advanced Micro Devices soared 21% to $429.58 after the chip and server company reported better-than-expected first-quarter results.
The sustained growth in demand from data centers supported the increase in outlook beyond the market expectations.
Revenue jumped 38% to $10.3 billion from $7.4 billion, net income advanced 95% to $1.4 billion from $709 million, and diluted earnings per share soared 91% to 84 cents from 44 cents a year ago.
Data center revenue soared 57% from a year ago to $5.8 billion, driven by strong demand for the company's CPU and GPU processors.
Client and gaming segment revenue rose 23% to $3.6 billion, and embedded segment revenue increased 6% to $873 million.
For the second quarter, the company estimated revenue of $11.2 billion, with a band of $300 million, an annual increase of 46% from the midpoint of the range, and a sequential increase of 9%.
The company guided an adjusted gross margin of 56%.
In the year so far, AMD has surged 65% and, over the last 52 weeks of trading, advanced 260%.
Duolingo decreased 1.5% to $108.75 after the language-learning mobile app operator reported better-than-expected quarterly results.
Revenue increased 27% to $292.0 million, and total bookings jumped 14% to $308.5 million from a year ago, respectively.
The company reported 133.1 million monthly active users last quarter, sharply lower than the 145 million estimated by analysts on Wall Street.
Net income increased to $43.5 million from $35.1 million, and diluted earnings per share advanced to 89 cents from 72 cents a year ago.
U.S. Movers: AMD, Duolingo
Scott Peters
07 May, 2026
New York City
Advanced Micro Devices soared 21% to $429.58 after the chip and server company reported better-than-expected first-quarter results.
The sustained growth in demand from data centers supported the increase in outlook beyond the market expectations.
Revenue jumped 38% to $10.3 billion from $7.4 billion, net income advanced 95% to $1.4 billion from $709 million, and diluted earnings per share soared 91% to 84 cents from 44 cents a year ago.
Data center revenue soared 57% from a year ago to $5.8 billion, driven by strong demand for the company's CPU and GPU processors.
Client and gaming segment revenue rose 23% to $3.6 billion, and embedded segment revenue increased 6% to $873 million.
For the second quarter, the company estimated revenue of $11.2 billion, with a band of $300 million, an annual increase of 46% from the midpoint of the range, and a sequential increase of 9%.
The company guided an adjusted gross margin of 56%.
In the year so far, AMD has surged 65% and, over the last 52 weeks of trading, advanced 260%.
Duolingo decreased 1.5% to $108.75 after the language-learning mobile app operator reported better-than-expected quarterly results.
Revenue increased 27% to $292.0 million, and total bookings jumped 14% to $308.5 million from a year ago, respectively.
The company reported 133.1 million monthly active users last quarter, sharply lower than the 145 million estimated by analysts on Wall Street.
Net income increased to $43.5 million from $35.1 million, and diluted earnings per share advanced to 89 cents from 72 cents a year ago.
U.S. Movers: eBay, GameStop, GitLab, Hims & Hers
Scott Peters
12 May, 2026
New York City
GameStop Corp. declined 4% to $22.15 after eBay Inc. rejected the company's $56 billion merger proposal, citing financing doubts.
eBay Inc. decreased 1% to $107.0, following the news.
Gitlab Inc. declined 10.3% to $22.92 after the company announced its restructuring plan and reaffirmed its first quarter and full-year 2027 revenue estimates.
The software company plans to reduce its country footprint by 30%, from 60, and accelerate its investment in agentic AI and organize into smaller and more focused product development teams to accelerate the release of new products.
Chief Executive Officer William Staples reiterated quarterly revenue to range between $253 million and $255 million, confirming the original estimate released on March 3.
Hims & Hers Health declined 14.5% to $24.84 after the telehealth service provider reported its quarterly results.
Revenue in the first quarter increased 4% to $608.1 million from $586.0 million, net income swung to a loss of $92.1 million from an income of $49.5 million, and diluted earnings per share swung to a loss of 40 cents from a profit of 20 cents a year ago.
For the second quarter, the company estimated revenue between $680 million and $700 million and adjusted operating income between $35 million and $55 million.
For the full year, the company guided revenue between $2.8 billion and $3.0 billion and adjusted operating income between $275 million and $300 million.
U.S. Movers: eBay, GameStop, GitLab, Hims & Hers
Scott Peters
12 May, 2026
New York City
GameStop Corp. declined 4% to $22.15 after eBay Inc. rejected the company's $56 billion merger proposal, citing financing doubts.
eBay Inc. decreased 1% to $107.0, following the news.
Gitlab Inc. declined 10.3% to $22.92 after the company announced its restructuring plan and reaffirmed its first quarter and full-year 2027 revenue estimates.
The software company plans to reduce its country footprint by 30%, from 60, and accelerate its investment in agentic AI and organize into smaller and more focused product development teams to accelerate the release of new products.
Chief Executive Officer William Staples reiterated quarterly revenue to range between $253 million and $255 million, confirming the original estimate released on March 3.
Hims & Hers Health declined 14.5% to $24.84 after the telehealth service provider reported its quarterly results.
Revenue in the first quarter increased 4% to $608.1 million from $586.0 million, net income swung to a loss of $92.1 million from an income of $49.5 million, and diluted earnings per share swung to a loss of 40 cents from a profit of 20 cents a year ago.
For the second quarter, the company estimated revenue between $680 million and $700 million and adjusted operating income between $35 million and $55 million.
For the full year, the company guided revenue between $2.8 billion and $3.0 billion and adjusted operating income between $275 million and $300 million.