On July 20, Baidu rose 5.23% overnight, trading at $112.52/share, with turnover of $2.9237 million.

On the news front, the rally was driven by a dual catalyst. Baidu's autonomous ride-hailing platform Apollo Go signed a strategic cooperation agreement with Kazakhstan-based Turlov Private Holding Ltd., with both parties set to explore the introduction of robotaxi services in Kazakhstan, marking a significant step in Baidu's international expansion of its autonomous driving business.

Additionally, Baidu's board has authorized management to pursue a voluntary conversion to dual-primary listing on the Hong Kong Stock Exchange, with the process expected to take effect within this year. Market analysts noted that if the conversion proceeds smoothly and meets Stock Connect inclusion criteria, Baidu could qualify for the September Stock Connect adjustment window, significantly broadening its investor base by opening access to mainland Chinese institutional capital and enhancing liquidity.

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