China's Kuaishou hits 8-week peak on Kling AI spinoff report

Kuaishou Technology

12/05/2026 04:01

** Chinese short-video platform Kuaishou Technology 1024.HK stock jumps as much as 11.2% to HK$57.4, highest level since March 18

** Last up 6.1%, on track for best day since May 8

** Top pct gainer on Hang Seng TECH Index .HSTECH and Hang Seng Index .HSI, which are up 0.5% and 0.6% respectively

** The Information reports Kuaishou plans to spin off Kling AI video unit ahead of IPO next year

** Pre-IPO funding talks reportedly value Kling at $20 bln; Kuaishou has not responded to Reuters request for comment

** Citi keeps "buy" rating, says spinoff plan would unlock Kling's value given AI unit's leading position, strong AI sentiment

** YTD, Kuaishou stock down 14.5%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))