According to Zhitong Finance APP, the U.S. non-farm payroll data for August fell short of expectations, further heating up interest rate cut expectations. The three major indices of the Hong Kong stock market fluctuated and rose, with afternoon gains further expanding, among which the Hang Seng Tech Index rose over 1%. By the close, the Hang Seng Index rose 0.85% or 215.93 points, closing at 25,633.91 points, with a total turnover of HKD 286.043 billion; the Hang Seng China Enterprises Index rose 0.71%, closing at 9,121.66 points; the Hang Seng Tech Index rose 1.17%, closing at 5,753.75 points.
The Cathay Pacific Haitong overseas strategy team pointed out that from the interim reports, most companies in the Hong Kong stock market have disclosed their financial reports, and overall performance is temporarily disturbed; from the consensus expectations, since the third quarter, the EPS growth expectation for Hong Kong stocks in 2025 has been significantly revised down, mainly due to the drag from discretionary consumption, while materials, pharmaceuticals, technology, and finance are still being revised up. With the implementation of anti-involution policies, the narrative of Hong Kong stocks in the fourth quarter may shift towards AI empowerment, driving a recovery in performance expectations, coupled with incremental capital inflows, the bull market in Hong Kong stocks is expected to continue.
<h2>Blue Chip Performance</h2>
Baidu Group-SW (09888) led the blue chips. By the close, it rose 9.48%, closing at HKD 106.2, with a turnover of HKD 6.173 billion, contributing 18.56 points to the Hang Seng Index. According to IT Home, as reported by Mark Gurman, Apple continues to advance its release plan for Apple Intelligence in China, expected to launch before the end of the year. Reports indicate that Apple is collaborating with Alibaba and Baidu to introduce Apple Intelligence to the Chinese market through iOS 26.1 or iOS 26.2 by the end of the year.
In other blue chip stocks, CITIC Limited (00267) rose 6.81%, closing at HKD 12.08, contributing 7.09 points to the Hang Seng Index; WuXi Biologics (02269) rose 5.52%, closing at HKD 38.98, contributing 11.93 points to the Hang Seng Index; Zijin Mining (02899) fell 1.77%, closing at HKD 27.74, dragging down the Hang Seng Index by 4.5 points; Xinyi Solar (00968) fell 1.62%, closing at HKD 3.65, dragging down the Hang Seng Index by 0.41 points.
<h2>Popular Sectors</h2>
On the market, most large technology stocks rose, with Baidu soaring over 9%, NetEase and Alibaba both rising over 4%, and Tencent rising nearly 2%. Recently, the robotics industry has seen intensive catalysts, with related concept stocks strengthening, Sanghua Intelligent Control soaring over 15%; Shenzhen has followed up with relaxed real estate policies, and domestic property stocks are active, with Country Garden officially entering the Hong Kong Stock Connect today, with its stock price rising over 6%; lithium battery stocks continued their upward trend, with Ganfeng Lithium rising over 5%; paper, aviation, and pharmaceutical stocks performed well. On the other hand, gold stocks showed a mixed trend, with Zijin Mining falling 1.77% and Chifeng Jilong Gold rising nearly 6%; stocks removed from the Hong Kong Stock Connect plummeted, with Yisou Technology falling over 26%.
1. Starting today, the list of securities eligible for Hong Kong Stock Connect will be adjusted. Included in the Hong Kong Stock Connect, Yaojie Ankang-B (02617) rose 20.13%, closing at HKD 75.8; Ying'en Biotechnology-B (09606) rose 10.9%, closing at HKD 402.8; Country Garden (02007) rose 6.25%, closing at HKD 0.51; on the other hand, stocks removed from the Hong Kong Stock Connect plummeted. Yisou Technology (02550) fell 26.35%, closing at HKD 3.41;
Meizhong Jiahe (02453) fell 23.63%, closing at HKD 3.62; Sipai Health (00314) fell 16.54%, closing at HKD 4.54.
The Shanghai Stock Exchange and Shenzhen Stock Exchange announced that due to the periodic adjustment of constituent stocks in the Hang Seng Composite Large Cap Index, Mid Cap Index, and Small Cap Index, the list of eligible securities for the Hong Kong Stock Connect has been adjusted and will take effect from September 8. Among them, 20 stocks including China Foods, Boleton, Country Garden, and WuXi AppTec have been added; the list of stocks removed includes Yisou Technology, Meizhong Jiahe, Guancheng Watch &amp; Jewelry, and Sipai Health.
2. Most robotics concept stocks rose. By the close, Sanhua Intelligent Control (02050) rose 15.14%, closing at HKD 33.76; MicroPort Scientific Corporation-B (02252) rose 10.58%, closing at HKD 29.26; Delta Electronics (00179) rose 8.61%, closing at HKD 30.26; Horizon Robotics-W (09660) rose 7.03%, closing at HKD 10.5.
Recently, the robotics industry has seen intensive catalysts. On September 7, Tesla opened a Weibo account named &#34;Tesla AI&#34; and posted its first Weibo message &#34;I have been working hard to improve my figure,&#34; showcasing the new version of the Optimus humanoid robot. In addition, Tesla announced Musk's 2025 compensation plan, covering four major pillar businesses: automotive, FSD, humanoid, and robotaxi. Dongfang Securities pointed out that with the overseas deployment of Tesla robots, the certainty of the humanoid robot sector is expected to increase, bringing investment opportunities in the sector. The firm believes that component companies with excellent manufacturing and management capabilities will benefit more.
3. Airline stocks collectively rose. By the close, China Southern Airlines (01055) rose 3.76%, closing at HKD 3.86; China Eastern Airlines (00670) rose 3.44%, closing at HKD 3.01; Air China (00753) rose 3.41%, closing at HKD 5.15.
Shenwan Hongyuan believes that under the constraints of the recovery of the aviation supply chain and the increase in wide-body aircraft utilization, the logic of aviation supply has been verified in multiple aspects. The fundamentals have bottomed out, coupled with expectations of positive changes in oil and exchange rates, the sector has configuration value. From the supply-demand structure of this year's market, the growth of market supply is limited, and the core logic of natural passenger volume growth remains unchanged. If domestic airlines' ticket prices recover subsequently, it will continue to validate the logic supporting airline revenue growth. The firm continues to recommend attention to the aviation sector, where supply slowdown is highly certain, demand has elasticity, and airlines can release significant performance improvement space with external oil and exchange rate support.
4. Domestic property stocks performed actively. By the close, Country Garden (02007) rose 6.25%, closing at HKD 0.51; China Oceanwide Holdings (03377) rose 5.88%, closing at HKD 0.126; CIFI Holdings (00884) rose 4.05%, closing at HKD 0.231; Vanke Enterprise (02202) rose 1.72%, closing at HKD 5.31.
Following Beijing and Shanghai, Shenzhen released a significant new real estate policy late at night on September 5. CITIC Construction Investment stated that this new real estate policy has significantly relaxed purchase restrictions in non-core areas (excluding all areas except Futian District, Nanshan District, and Bao'an District's Xin'an Street), and commercial loan interest rates will no longer differentiate between first and second homes
Guojin Securities pointed out that it is expected that the real estate transaction volume will rebound entering the fourth quarter, helping the fundamentals to further stabilize. Considering the increased expectations for the Federal Reserve to cut interest rates stimulating liquidity, the current valuation of the real estate sector is relatively low, and it is recommended to accumulate real estate stocks on dips.
<h2>Popular Active Stocks</h2>
1. Skyworth Group (00751) surged significantly in the late trading session, closing up 34.41% at HKD 4.57.**
On August 18, Skyworth Photovoltaic held a grand launch event themed &#34;SKYLINK Ecological Coexistence&#34; at the Shenzhen Science and Technology Museum, officially launching its ecological-level platform - &#34;Xihuan&#34;. &#34;Xihuan&#34; is the strategic carrier for Skyworth Photovoltaic's transformation from a product supplier to an ecological builder, serving as an open smart energy ecological integration platform in the new energy industry. It is based on the integration of &#34;stability-intelligence-connectivity-carbon&#34; technologies, aiming to reconstruct the value of the energy industry through ecological collaboration and technological innovation.
2. Saint Honore Pharmaceuticals-B (02257) saw a significant increase, closing up 22.78% at HKD 18.38.**
Saint Honore Pharmaceuticals announced that it plans to issue 17.3524 million subscription shares to subscribers including Huaxi Biotechnology (Hong Kong) Co., Ltd. at HKD 12.00 per share, a discount of approximately 19.84% compared to the closing price of HKD 14.97 on September 5. The net proceeds from this subscription are expected to be approximately HKD 206 million, which will be used for the company's general working capital.
3. China COSCO Shipping Energy (01138) continued to rise, closing up 9.57% at HKD 8.47.**
According to Clarkson data, VLCC freight rates increased by 38% week-on-week, reaching USD 58,007 per day, with the VLCC TD3C-TCE on the September 5th wave exchange exceeding USD 60,000 per day. Cinda Securities indicated that the tight supply and demand situation in the industry is expected to continue supporting freight rates, maintaining a &#34;positive&#34; rating.
4. Alibaba-W (09988) performed well, closing up 4.17% at HKD 137.3.**
On the evening of September 5, Alibaba's Tongyi Qianwen launched Qwen3-Max-Preview (Instruct), with a parameter count reaching 1T, making it the largest model to date. It has achieved significant enhancements in understanding Chinese and English, following complex instructions, and tool invocation, while greatly reducing knowledge hallucinations.
5. China Unicom (00762) surged in the afternoon, closing up 1.38% at HKD 9.57.**
Recently, the Ministry of Industry and Information Technology issued a satellite mobile communication business operating license to China Unicom. China Unicom can legally carry out mobile direct satellite services and deepen applications in emergency communication, maritime communication, and remote area communication, enriching the supply of communication services and products

Baidu Q4 2024 Financial Results

NetEase Q4 & Fiscal Year 2024 Financial Results

00HSI

BIDU

09888

The three major Hong Kong stock indices fluctuated and rose, with the Hang Seng Index closing up 0.85% at 25,633.91 points. The U.S. non-farm payroll data for August fell short of expectations, increasing the anticipation of interest rate cuts. Baidu Group-SW led the blue-chip stocks, rising 9.48% with a transaction volume of HKD 6.173 billion. Overall performance is temporarily disturbed, but with the implementation of anti-involution policies, the narrative of Hong Kong stocks in the internet sector may shift towards AI empowerment in the fourth quarter, and performance expectations are likely to improve

- The U.S. non-farm payroll data for August fell short of expectations, increasing interest rate cut speculation.  
- Hong Kong's three major indices rose, with the Hang Seng Index up 0.85% to 25,633.91 points, driven by strong performances in technology and real estate sectors.  
- The recent easing of property policies in Shenzhen is expected to boost market activity, while the robot industry sees significant growth, particularly with Tesla's advancements in AI and robotics.

Hong Kong stock market closing (09.08) | Hang Seng Index rose 0.85%, most robotics concept stocks strengthened, Baidu Group-SW surged 9%