Half-day Situation of the Three Major Indices
Hang Seng Index (HSI.HK): Up 1.65%
Hang Seng China Enterprises Index (HSCEI.HK): Up 1.79%
Hang Seng Tech Index (HSTECH.HK): Up 2.60%
In the half-day, 1,130 stocks rose, 579 fell, and 1,012 closed flat.
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<h3>Technology and Semiconductor Sector</h3>
The sector is driven by policy support and the growing global demand for chips, with continuous capital inflow improving overall market sentiment.
SMIC (0981.HK): Up 5.92%, half-day turnover of HKD 5.88 billion. Benefiting from chip capacity expansion and policy support, the recovery of capacity utilization has enhanced performance, with significant net buying from southbound funds boosting the stock price.
Huahong Semiconductor (1347.HK): Up 2.70%, half-day turnover of HKD 2.694 billion. Driven by positive financial reports and accelerated technological upgrades, product demand continues to grow, with favorable industry policies boosting stock performance.
Xiaomi Group -W (1810.HK): Up 0.81%, half-day turnover of HKD 2.849 billion. The smart hardware business is growing steadily, and new product launches have boosted investor confidence, with continuous attention on the company's long-term value.
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<h3>Internet Content and Information Sector</h3>
The rebound in advertising and gaming businesses has driven a general recovery in the sector, with leading companies improving performance boosting overall risk appetite.
Alibaba -W (9988.HK): Up 3.83%, half-day turnover of HKD 11.1 billion. The promotional season has driven growth in e-commerce, and efficient operations have improved profitability, with continuous accumulation from southbound funds.
Tencent Holdings (0700.HK): Up 1.99%, half-day turnover of HKD 5.57 billion. Improvement in advertising and gaming revenue, increased capital expenditure for innovative layouts, and performance expectations recognized by the market.
Meituan -W (3690.HK): Up 1.09%, half-day turnover of HKD 2.008 billion. Continuous expansion of new businesses and advantages in the O2O ecosystem have driven performance upward, with platform share steadily increasing.
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<h3>Retail and Consumer Sector</h3>
Under the expectation of consumer recovery, the sector is showing divergence, with defensive leaders favored by funds and mid-cap growth stocks adjusting.
POP MART (9992.HK): Down 5.36%, half-day turnover of HKD 5.01 billion. The company's new products performed below expectations, putting short-term pressure on market sentiment, with limited recovery in consumer demand
China Life ( 2628.HK ): Up 7.57%, half-day trading volume of HKD 2.541 billion. Supported by favorable industry policies, fundamental recovery drives sector valuation, and risk appetite increases.
Ping An Insurance ( 2318.HK ): Up 3.96%, half-day trading volume of HKD 1.884 billion. Steady performance and policy-driven long-term capital allocation, market style switch is favorable.
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<h3>Other Key Sectors</h3>
Geely Automobile ( 0175.HK ): Up 3.75%, half-day trading volume of HKD 1.635 billion. Strong growth in new energy vehicle business, continuous sales increase under favorable industry policies, and heightened capital attention.
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Market Focus
On the macro front, the Federal Reserve continues to emphasize a high interest rate cycle, with the RMB exchange rate maintaining around 7.24, and dual stability expectations supporting Hong Kong stock sentiment. In May, China's CPI rose 0.3% year-on-year, and the manufacturing PMI rebounded to 50.3, signaling economic recovery and boosting the financial and consumer sectors.
In terms of capital, southbound funds had a net purchase of over HKD 12.3 billion in half a day, with net inflows of HKD 7.8 billion in the Shanghai-Hong Kong Stock Connect and HKD 4.5 billion in the Shenzhen-Hong Kong Stock Connect; leading tech stocks such as Alibaba had a net purchase of HKD 1.98 billion, and SMIC had a net purchase of HKD 1.55 billion, driving significant increases in leading stock prices. Half-day trading volume expanded to HKD 140 billion, indicating a warming risk appetite among overseas and local institutions.
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Top Ten Stocks by Half-Day Trading Volume
Alibaba -W ( 9988.HK ), closing price HKD 168.10, up 3.83%, half-day trading volume HKD 11.1 billion
SMIC ( 0981.HK ), closing price HKD 76.05, up 5.92%, half-day trading volume HKD 5.88 billion
Tencent Holdings ( 0700.HK ), closing price HKD 640.00, up 1.99%, half-day trading volume HKD 5.57 billion
POP MART ( 9992.HK ), closing price HKD 257.80, down 5.36%, half-day trading volume HKD 5.01 billion
Xiaomi Group -W ( 1810.HK ), closing price HKD 47.52, up 0.81%, half-day trading volume HKD 2.849 billion
Huahong Semiconductor ( 1347.HK ), closing price HKD 80.00, up 2.70%, half-day trading volume HKD 2.694 billion
China Life ( 2628.HK ), closing price HKD 25.30, increase of 7.57%, half-day trading volume HKD 2.541 billion
Meituan-W ( 3690.HK ), closing price HKD 97.70, increase of 1.09%, half-day trading volume HKD 2.008 billion
Ping An ( 2318.HK ), closing price HKD 56.45, increase of 3.96%, half-day trading volume HKD 1.884 billion
Geely Automobile ( 0175.HK ), closing price HKD 19.90, increase of 3.75%, half-day trading volume HKD 1.635 billion

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The three major indices of the Hong Kong stock market collectively rose this morning, with the Hang Seng Tech Index leading the performance. The technology and semiconductor sectors strengthened significantly due to favorable policies and positive earnings expectations. The internet and retail sectors showed a divergence, with Alibaba and SMIC performing outstandingly, driving the overall market upward. There was a significant inflow of southbound funds in the half-day session, indicating a clear structural market trend. On the macro front, the Federal Reserve's high interest rate signals and the stability of the RMB exchange rate have become the focus of market attention, with funds favoring leading Chinese technology and high-end manufacturing companies

- The Hong Kong stock market showed positive performance with the Hang Seng Index rising 1.65% and significant gains in technology and semiconductor sectors driven by policy support and increased global chip demand.  
- Notable stocks included SMIC, which rose 5.92%, and Alibaba, which increased by 3.83%, benefiting from strong earnings and promotional activities.  
- Southbound capital saw a net inflow of over 12.3 billion HKD, reflecting improved risk appetite among investors, with total trading volume reaching 140 billion HKD.

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Hong Kong Stock Market Mid-Review | All three major indices rose, with the Tech Index up 2.60%, led by semiconductor technology; Alibaba rose 3.83% and SMIC rose 5.92%