"Hong Kong Stocks" Hang Seng Index rises 48 points in half a day, robot concept heats up

Market expectations for a Federal Reserve rate cut have further intensified, leading to a fluctuating improvement in the Hong Kong stock market during the morning session. The Hang Seng Index opened 43 points higher, initially dropped 111 points to a low of 25,649 points before rebounding, rising 110 points to a high of 25,871 points, and closed up 48 points or 0.2% at 25,809 points; the National Index rose 34 points or 0.4% to 9,062 points; the Hang Seng Tech Index rose 32 points or 0.6% to 5,567 points. The total turnover of the market for the half-day was HKD 92.278 billion.

The FTSE China 50 Index's quarterly review includes CHINAHONGQIAO (01378.HK), CATL (03750.HK), and Hengrui Pharma (01276.HK), while excluding CITIC Securities (06066.HK), Chang'an Automobile (02333.HK), and Li Auto (02015.HK). CHINAHONGQIAO rose 0.6%, CATL and Hengrui Pharma rose 1% and 1.7%; CITIC Securities and Chang'an Automobile rose 0.3% and 0.8%, while Li Auto fell 1.5%.

The U.S. is reportedly promoting the robotics industry, with related concepts rising alongside external markets. Sanhua Intelligent Control (02050.HK) and Delta Electronics (00179.HK) both surged 9.2%, Hesai (02525.HK) rose 6.5%, Lens Technology (06613.HK) rose 2%, UBTECH (09880.HK) and Horizon Robotics (09660.HK) rose 3.8% and 4.4%, respectively, while Yujian (02432.HK) rose 2.5%.

Reports indicate that over 20 cities in mainland China have suspended or adjusted the old-for-new car subsidy due to the consumption of national subsidy funds. Automotive stocks BYD (01211.HK) and Nio (09866.HK) fell 0.7% and 1.6%.

In other tech stocks, Alibaba (09988.HK), Tencent (00700.HK), JD.com (09618.HK), Baidu (09888.HK), and Kuaishou (01024.HK) fell 0.3% to 0.5%, while NetEase (09999.HK) rose 0.3%, Meituan (03690.HK) rose 2%, Bilibili (09626.HK) and Xiaomi (01810.HK) rose 2.8% and 2.9%. Additionally, Kingsoft Cloud (03896.HK), NetEase Cloud Music (09899.HK), GDS Holdings (09698.HK), and SenseTime (00020.HK) rose 2.4% to 3.4%, while Ping An Good Doctor (01833.HK) fell 3%. In the chip sector, SMIC (00981.HK) and Hua Hong Semiconductor (01347.HK) rose 1.7% and 2.8%.

In the financial sector, HSBC (00005.HK) and AIA (01299.HK) fell 0.2% and 0.6%, while Hong Kong Exchanges and Clearing (00388.HK) rose 0.3%. Copper prices on the London Metal Exchange reached a historic high, with Jiangxi Copper (00358.HK) narrowing its gain to 1.6%, and Zijin Mining (02899.HK) rising 2.3% In other stocks, travel platform Trip.com (09961.HK) rose 3.3%, retail stock Pop Mart (09992.HK) fell 1.2%, and luxury stock Prada (01913.HK) fell 3.4%. Pharmaceutical stocks Rongchang (09995.HK), Kangfang (09926.HK), and Kingsray (01548.HK) rose 3.7% to 4.3%, textile stock Shenzhou (02313.HK) fell 4%, and shipping stock Pacific Basin Shipping (02343.HK) rose 4.2%