"Hong Kong Stocks" The Hang Seng Index rose 283 points in the half-day session, Tencent gained over 3%, and local retail stocks retreated

Sweden confirmed that the third round of China-U.S. trade talks will be held next week. U.S. President Trump also revealed that he may visit China in the near future to address trade issues between the two countries. Hong Kong stocks performed well this morning (23rd), with the Hang Seng Index opening up 218 points and continuing to rise, reaching a peak of 298 points to 25,428 points, the highest level in over three years. The index rose 283 points or 1.1% to close at 25,413 points; the National Index rose 120 points or 1.3% to 9,195 points; the Hang Seng TECH Index rose 98 points or 1.8% to 5,705 points. The half-day turnover of Hong Kong stocks was HKD 173.429 billion.

In the technology sector, 127 domestic and 7 imported online games were approved in mainland China in July, including Baidu (09888.HK) and NetEase (09999.HK), with both stocks rising 4.2% and 1.6%, respectively. Alibaba (09988.HK) launched Qwen3-Coder as its most capable code model, with its stock rising 1.8%. Tencent (00700.HK) increased by 3.8%. Kuaishou (01024.HK) rose 4.5%, making it the best-performing blue-chip stock. Trip.com (09961.HK) rose 1.1%. According to reports, SenseTime (00020.HK) plans to enter the field of embodied intelligence, with its stock price rising 1.3%.

The Zhengzhou Municipal Bureau of Market Regulation held administrative talks with three takeaway platform companies: Ele.me, Meituan (03690.HK), and JD.com (09618.HK), with Meituan and JD.com rising 2.6% and 2.5%, respectively.

BYD (01211.HK) fell 0.5% against the trend, reportedly due to the company's delay in mass production at its new factory in Hungary and a reduction in output. Other automotive stocks saw XPeng (09868.HK) rise 2.8%. Xiaomi (01810.HK) and Geely (00175.HK) rose 0.3% and 0.4%, respectively. Li Auto (02015.HK) fell 0.4%. Nio (09866.HK) rose nearly 9%, with the L90 set to launch dynamic test drive experiences at over 400 stores.

Some retail service stocks listed in Hong Kong that were hot yesterday (22nd) saw a pullback today, with CEC International (00759.HK), the parent company of "759 A Xin House," dropping 27.2%. International Home (01373.HK), the parent company of the home goods chain "Japan City JHC," fell 6.3%. Aeon (00984.HK), which operates AEON supermarkets and department stores, dropped 8.2%. Hong Kong Science Exploration (01137.HK) fell 5.8%. Sa Sa International (00178.HK) dropped 4.5%.

Water infrastructure stocks softened, with Dongfang Electric (01072.HK) and Harbin Electric (01133.HK) falling 4.4% and 4.5%, respectively. Cement stocks also declined, with Conch Cement (00914.HK) down 3% and Huaxin Cement (06655.HK) down 8.7% The Hong Kong government will release a summary of the licensing system for stablecoin issuers next week. Stablecoin concept stocks such as Lianyi Rong Technology (09959.HK) rose by 5.1%, while Huajian Medical (01931.HK) and China Merchants Securities (06099.HK) each rose by 2.1% and 2.4%. Victory Securities (08540.HK), OSL Group (00863.HK), and Yaocai Securities Financial (01428.HK) rose by 1.2% to 1.8%, respectively.

Financial stocks such as HSBC Holdings (00005.HK) opened at HKD 100 but fell by 0.3% to HKD 99.45 by midday. Hong Kong Exchanges and Clearing (00388.HK) rose by 0.9%. AIA Group (01299.HK) rose by 2%. In individual stocks, WuXi AppTec (02268.HK) is expected to see a net profit growth of over 50% year-on-year in the first half of the year, with its stock price rising by 8.1%. Its related companies, WuXi Biologics (02359.HK) and WuXi AppTec (02269.HK), rose by 1.1% and 3.6%, respectively. ASMPT (00522.HK) reported a net profit of HKD 215 million, down 31.8%, and declared an interim dividend of HKD 0.26, with its stock price rising by 4.2%.

Jianfa International (01908.HK) offered a rights issue at a discount of 8.9%, expecting to raise over HKD 1 billion, with its stock price falling by 5.9%. China Tiangong Holdings (00428.HK) offered a rights issue at a discount of 19.46%, raising HKD 3.7 million, with its stock price rising by 24.4%.

As for Hansoh Pharmaceutical (03692.HK), it fell by 4.4%, making it the worst-performing blue-chip stock. CSPC Pharmaceutical Group (01093.HK) and China National Pharmaceutical Group (01177.HK) also fell by 2.2% and 2%, respectively