AsianFin -- Baidu’s Hong Kong-listed shares on Wednesday jumped 18% to HK$134, recording the largest single-day gain for the company in the past two years. According to Wind data, Baidu’s Hong Kong stock has risen more than 50% over the past 20 trading days.

The rally was driven by several factors, including Baidu’s plan to issue RMB-denominated notes, Kunlun Chip securing a major order worth over 1 billion yuan from China Mobile, and sustained investor optimism around the company’s artificial intelligence and autonomous driving initiatives.