On January 16, 2024, the Hong Kong stock market opened with mixed gains and losses among the three major indexes. The Hang Seng Index fell by 1.15%, the Hang Seng Science and Technology Index fell by 1.01%, and the State owned Enterprise Index fell by 1.01%. After the opening, the Hang Seng Technology Index rose and fell. Among the constituent stocks, Baidu Group ended yesterday's heavy decline and led the way with a rise of nearly 4% during the trading session. Xiaopeng Motors, BYD Electronics, SMIC and others ranked first in terms of gains.
Specifically, on January 15, 2024, Baidu may have experienced a drop of over 10% during trading due to negative news. That night, Baidu issued a statement saying that recently, Baidu noticed media reports that an academic paper mentioned several major language models (LLMs) (such as GPT3.5, GPT-3.5-turbo, GPT4, HTML-T5, and ERNIE Bot), and made the following clarification: the relevant academic paper was published by a scholar from a Chinese university, which described how the author of the paper designed the process of asking questions to several LLMs and getting answers. Any user can use this function when interacting with the generative AI tool. Baidu stated that there is no cooperation or customized services provided between Baidu and the author or their affiliated institution. ERNIE Bot is open to the public and widely used by the public. The earliest news stated that the media responsible for the academic paper had clarified and corrected the original information.
Related ETF: Hang Seng Technology Index ETF (513180) focusing on Alibaba, Tencent Holdings, JD Group, Kwai, Meituan, Netease, Baidu Group and other Internet leaders.