---
title: "Hong Kong Stock Market Mid-Review | All three major indices rose, with the Tech Index up 3.20% leading the technology sector; Alibaba rose 4.99%, Tencent Holdings rose 3.78% strongly"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/261808435.md"
description: "Hong Kong stocks rose across the board today, with the Hang Seng Index and the Tech Index leading the way, indicating a rebound in market risk appetite. There was significant capital inflow into the technology and financial sectors, with leading companies like Alibaba and Tencent showing a notable rebound driven by performance and policy. The new energy and automotive sectors showed a divergence, with top companies favored by capital. Expectations for macro policies, net buying from southbound funds, and the stabilization of the RMB exchange rate collectively supported market sentiment"
datetime: "2025-10-20T04:01:23.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/261808435.md)
  - [en](https://longbridge.com/en/news/261808435.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/261808435.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/261808435.md) | [繁體中文](https://longbridge.com/zh-HK/news/261808435.md)


# Hong Kong Stock Market Mid-Review | All three major indices rose, with the Tech Index up 3.20% leading the technology sector; Alibaba rose 4.99%, Tencent Holdings rose 3.78% strongly

## **I. Three Major Indices and Overall Market Performance**

At the midday close, the main indices of the Hong Kong stock market all achieved gains, with the Hang Seng Tech Index performing the strongest.

-   Hang Seng Index (HSI.HK): Up 2.41%
-   Hang Seng China Enterprises Index (HSCEI.HK): Up 2.46%
-   Hang Seng Tech Index (HSTECH.HK): Up 3.20% (strongest performance)

A total of 1,256 stocks in the market rose, 506 fell, and 956 remained flat.

* * *

## **II. Midday Dynamics of Popular Sectors**

### **Technology Sector**

The technology sector rose by 3.20%, benefiting from favorable AI applications and platform economy policies, with continued net inflows of southbound funds and significant accumulation in leading tech stocks.

-   Alibaba (9988.HK): Up 4.99%, turnover of HKD 10.037 billion. Support for the platform economy and increased AI business boosted market confidence, leading to significant inflows of institutional funds and a strong rebound in stock price.
-   Tencent Holdings (700.HK): Up 3.78%, turnover of HKD 5.577 billion. Growth in gaming and fintech revenues, improved fundamentals, and continued accumulation of southbound funds drove the stock price higher.
-   Xiaomi Group (1810.HK): Up 2.65%, turnover of HKD 4.184 billion. Highlights in automotive business growth, attention on AI ecosystem innovation, and attraction of funds to smart devices and core technology sectors.

### **Financial Sector**

The financial sector rose by 1.97%, with leading banks and insurance companies remaining stable, supported by southbound funds and improved liquidity bolstering sector sentiment.

-   China Life (2628.HK): Up 2.26%, turnover of HKD 1.995 billion. The life insurance market is recovering, with policies supporting and profit recovery progressing, and stable dividends attracting long-term fund inflows.
-   Industrial and Commercial Bank of China (example): Benefiting from credit expansion and economic stabilization, the valuation of industry leaders is recovering, with continued net inflows of southbound funds enhancing sector heat.
-   HSBC Holdings (example): Improvement in interest margins and recovery of international business prompted institutional accumulation, with solid fundamentals driving stock price upward.

### **New Energy and Automotive Sector**

The sector showed mixed performance, with leaders boosted by production and sales data and favorable policies, while industry prosperity varied, leading to a preference for leaders and cautious positioning in second-tier companies.

-   SMIC (981.HK): Up 4.27%, turnover of HKD 4.150 billion. The process of domestic chip substitution is accelerating, with a positive industry outlook and improved performance expectations attracting technology funds
-   Hua Hong Semiconductor ( 1347.HK ): Up 4.62%, turnover of HKD 2.313 billion. Benefiting from semiconductor policy support and demand growth, technological breakthroughs and capacity expansion have attracted market attention.
-   BYD (example): New energy vehicle exports exceeded expectations, battery profitability improved and industry position stabilized, with major funds continuing to increase their positions.

* * *

## **3\. Midday Market Focus**

-   **The expectation of a slowdown in Federal Reserve interest rate hikes and the narrowing of the China-U.S. interest rate spread** have boosted market risk appetite, driving capital back to Hong Kong stocks, with the RMB exchange rate stabilizing slightly, favorable for overseas capital inflow.
-   **Significant net buying from southbound funds, focusing on leading technology and finance stocks**, such as Alibaba and Tencent, enhancing overall trading activity, with the net buying scale of southbound funds remaining high on that day.
-   **China's October macroeconomic data released repair signals**, with manufacturing PMI and social financing data exceeding expectations, strengthening the fundamental support for Hong Kong stocks, while the market is concerned about overseas uncertainties and marginal policy changes.

* * *

## **4\. Top Ten Stocks by Midday Turnover**

1.  Alibaba -W ( 9988.HK ), closing price HKD 162.10, up 4.99%, turnover HKD 10.037 billion.
2.  Tencent Holdings ( 700.HK ), closing price HKD 631.00, up 3.78%, turnover HKD 5.577 billion.
3.  Xiaomi Group -W ( 1810.HK ), closing price HKD 47.18, up 2.65%, turnover HKD 4.184 billion.
4.  SMIC ( 981.HK ), closing price HKD 72.05, up 4.27%, turnover HKD 4.150 billion.
5.  Hua Hong Semiconductor ( 1347.HK ), closing price HKD 79.30, up 4.62%, turnover HKD 2.313 billion.
6.  Meituan -W ( 3690.HK ), closing price HKD 96.75, up 2.38%, turnover HKD 2.088 billion.
7.  China Life ( 2628.HK ), closing price HKD 23.48, up 2.26%, turnover HKD 1.995 billion.
8.  Pop Mart ( 9992.HK ), closing price HKD 276.20, up 0.29%, turnover HKD 1.697 billion
9.  Kangfang Biotech (9926.HK), closing price HKD 118.10, down 3.67%, turnover HKD 1.54 billion.
10.  Zijin Mining (2899.HK), closing price HKD 32.66, up 0.18%, turnover HKD 1.537 billion

### Related Stocks

- [BABA-W (09988.HK)](https://longbridge.com/en/quote/09988.HK.md)
- [TENCENT (00700.HK)](https://longbridge.com/en/quote/00700.HK.md)
- [SMIC (00981.HK)](https://longbridge.com/en/quote/00981.HK.md)
- [XIAOMI-W (01810.HK)](https://longbridge.com/en/quote/01810.HK.md)
- [HUA HONG SEMI (01347.HK)](https://longbridge.com/en/quote/01347.HK.md)

## Related News & Research

- [Hua Hong Semiconductor Wins SSE Acceptance for Share-Issuance Acquisition Plan](https://longbridge.com/en/news/281182290.md)
- [Tesla China Demand Faces More Pressure: New Rival Premium EV Hits 15,000 Orders In 34 Minutes](https://longbridge.com/en/news/280672221.md)
- [Evanson Asset Management LLC Purchases Shares of 5,080 Alibaba Group Holding Limited $BABA](https://longbridge.com/en/news/280440745.md)
- [Alibaba develops next-gen chip for agentic AI, Chinese media says](https://longbridge.com/en/news/280250679.md)
- [China's AliExpress tells EU lawmakers it is working to comply with law](https://longbridge.com/en/news/280201018.md)