"Hong Kong Stocks" The Hang Seng Index closed up 186 points, Meituan rose over 4%, and POP MART fell 9%

AASTOCKS
2025.10.23 08:30

Hong Kong stocks fluctuated upward, with the Hang Seng Index opening down 63 points, initially falling 190 points to a low of 25,591 points before rebounding. In the afternoon session, driven by the mainland stock market, it rose 299 points to 26,080 points, closing up 186 points or 0.7% at 25,967 points; the National Index rose 76 points or 0.8% to close at 9,300 points; the Hang Seng Tech Index rose 28 points or 0.5% to close at 5,951 points. The total market turnover for the day was HKD 245.256 billion.

In the tech sector, Tencent (00700.HK), Alibaba (09988.HK), and JD.com (09618.HK) rose 1.5% to 1.7%, Xiaomi (01810.HK) and Baidu (09888.HK) rose 0.9% and 1.2%, while Meituan (03690.HK) rose 4.1% to HKD 100. Kuaishou (01024.HK), NetEase (09999.HK), and Bilibili (09626.HK) fell 0.4% to 1.3%. In the chip sector, SMIC (00981.HK) and Hua Hong Semiconductor (01347.HK) fell 1.1% and 4.6%, while telecom infrastructure-related stocks ZTE (00763.HK) and Changfei Optical Fiber (06869.HK) fell 2.4% and 5.1%.

Famous Apple analyst Ming-Chi Kuo indicated that iPhone Air production capacity has been significantly reduced, causing mobile component stocks GoerTek (01415.HK) and BYD Electronics (00285.HK) to fall 2.4%, and Lens Technology (06613.HK) to fall 3.6%. In the automotive sector, BYD (01211.HK) rose 1%, Chery (09973.HK) rose 3.5%, while Leapmotor (09863.HK) fell 4.5%. Battery stocks CATL (03750.HK) and autonomous driving chip stocks Horizon Robotics (09660.HK) fell 2%, while autonomous driving laser system provider Hesai (02525.HK) fell 4.7%. Lithium stocks Ganfeng Lithium (01772.HK) and Tianqi Lithium (09696.HK) surged 8% and 5.1%.

New consumption stocks weakened, with POP MART (09992.HK) falling 9.4% to HKD 232.4, with a turnover of HKD 12.142 billion. Mixue (02097.HK) and Lao Pu Gold (06181.HK) fell 4.5% and 1.7%. Sportswear stocks Li Ning (02331.HK) rose 6.6%, as the stock was upgraded to "Buy" by Daiwa, while its peer 361 Degrees (06110.HK) rose 5.3%. Gaming stocks Sands China (01928.HK) reported a 2.7% year-on-year increase in adjusted property EBITDA for the third quarter, exceeding expectations from several brokerages, with the stock price rising 4.4%. Its peer MGM China (02282.HK) rose 3.4%. In the pharmaceutical sector, Sino Biopharmaceutical (01177.HK) and CSPC Pharmaceutical (01093.HK) fell 2.8% and 3%, while China Traditional Chinese Medicine (00570.HK) fell 4.4% Rongchang Biologics (09995.HK) fell 10.9%. Jingtai (02228.HK) fell 5.1%, with a transaction volume of HKD 1.54 billion. Yaojie Ankang (02617.HK) fell 2.2%, while Juzhi Biologics (02367.HK) rose 6.7%, with a transaction volume of HKD 2.74 billion.

In terms of financial stocks, HSBC (00005.HK) and AIA (01299.HK) rose 0.2% and 0.5%, respectively, while Hong Kong Exchanges and Clearing (00388.HK) fell 0.1%. In the case of domestic bank stocks, Postal Savings Bank (01658.HK) rose 4.6%, and Agricultural Bank (01288.HK) rose 1.9%

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