--- title: "\"Hong Kong Stocks\" Hang Seng Index fell 121 points in half a day, XPeng retraced 5%, China National Pharmaceutical rose 15%, reaching a three-year high" description: "Hong Kong stocks retreated in the morning session, with the Hang Seng Index down 121 points at 24,244 points. Technology stocks generally fell, with Alibaba down 2% and Kuaishou down 4.7%. In the auto" type: "news" locale: "en" url: "https://longbridge.com/en/news/244177147.md" published_at: "2025-06-12T04:24:51.000Z" --- # "Hong Kong Stocks" Hang Seng Index fell 121 points in half a day, XPeng retraced 5%, China National Pharmaceutical rose 15%, reaching a three-year high > Hong Kong stocks retreated in the morning session, with the Hang Seng Index down 121 points at 24,244 points. Technology stocks generally fell, with Alibaba down 2% and Kuaishou down 4.7%. In the automotive sector, XPeng retreated 5%, while Leapmotor and BYD also declined. In the pharmaceutical sector, SINO BIOPHARM rose 15.1%, reaching a three-year high. The total market turnover was HKD 125.639 billion China and the United States have reached a trade consensus, with the U.S. not changing China's tariff rates and canceling some export controls. Reports indicate that China has also resumed rare earth exports for six months. The Hong Kong stock market retreated in early trading. The Hang Seng Index opened down 143 points, initially falling 213 points to a low of 24,153 points before narrowing the decline, closing down 121 points or 0.5% at 24,244 points; the Hang Seng China Enterprises Index fell 45 points or 0.5% to 8,820 points; the Hang Seng Tech Index dropped 57 points or 1.1% to 5,393 points. The total turnover of the market for the half-day was HKD 125.639 billion. In the tech sector, Alibaba (09988.HK) fell 2% to HKD 116, Kuaishou (01024.HK) dropped 4.7%, Tencent (00700.HK), Bilibili (09626.HK), Baidu (09888.HK), and JD.com (09618.HK) declined by 0.6% to 0.8%, while New Oriental (09901.HK) and SMIC (00981.HK) fell 2.2% and 1.7%, respectively. Meituan (03690.HK) and NetEase (09999.HK) rose 0.3% and 0.5%. Additionally, NetEase Cloud Music (09899.HK) increased by 6.6%, while Ping An Good Doctor (01833.HK), Kingsoft (03888.HK), Tencent Music (01698.HK), and Xindong (02400.HK) rose between 3.8% and 4.9%. In the automotive sector, XPeng (09868.HK) G7 pre-sales exceeded 10,000 units in 46 minutes, with the stock price retreating by 5%. Leapmotor (09863.HK), BYD (01211.HK), and Nio (09866.HK) fell between 2.1% and 2.7%, while Xiaomi (01810.HK) dropped 1.7%. Citigroup reported that the mainland's requirement for car companies to pay suppliers within 60 days will affect their interest income. Horizon Robotics (09660.HK) had a discount of about 6.85% in its placement, raising HKD 4.67 billion, with its stock price falling 4.6%. Battery stock CATL (03750.HK) rose 0.5%. Pharmaceutical stocks saw a surge, with China National Pharmaceutical Group (01177.HK) rising 15.1% to HKD 5.49, reaching a high of HKD 5.62, a three-year high. The capital market head of China National Pharmaceutical Group stated that a significant external licensing deal will be finalized soon. Luye Pharma (02186.HK), BeiGene (06160.HK), and Kangzhe Pharmaceutical (00867.HK) rose between 5.3% and 6.6%; WuXi Biologics-B (02126.HK), WuXi AppTec (02268.HK), WuXi AppTec (02359.HK), Hansoh Pharma (03692.HK), and WuXi Biologics (02269.HK) increased between 3.6% and 5.3%. Several consumer stocks were soft, with oil prices surging nearly 5%, and airline stocks Air China (00753.HK) and China Eastern Airlines (00670.HK) falling 2.8% and 3.8%, respectively. Budweiser (00291.HK), Haidilao (06862.HK), Yuan Drinks (02460.HK), and Tabo (06110.HK) dropped between 2.4% and 3.1% Budweiser APAC (01876.HK) fell 4.4%. Logistics stock SF Holding (06936.HK) rose 8.4% to HKD 45.75, reaching a new intraday high of HKD 45.95. Pop Mart (09992.HK) rose 1.2% to HKD 273, hitting a new intraday high of HKD 283.4. Gold retail stock Lao Pu Gold (06181.HK) rebounded 4.4%. In the financial sector, HSBC (00005.HK) and Hong Kong Exchanges and Clearing (00388.HK) fell 0.3% and 0.8%, respectively, while AIA (01299.HK) fell 1.5%. Domestic insurance stocks continued to be favored, with China Pacific Insurance (00966.HK), PICC (01339.HK), China Life (02628.HK), and Taikang (02601.HK) rising between 2.5% and 3.4%. Brokerage stock Guotai Junan (02611.HK) rose 2.6%. As tensions between the U.S. and Iran escalated, gold stocks Zijin Mining (02899.HK) and Zhaojin Mining (01818.HK) rose over 5%, while Shandong Gold (01787.HK) rose 2.9%. 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