"Hong Kong Stocks" Hang Seng Index rises 22 points in half a day, HSBC performs well, chip and commodity stocks soft

The Federal Reserve cut interest rates by a quarter point as expected, but announced the restart of quantitative easing with the purchase of $40 billion in government bonds. The Dow Jones Industrial Average rose 1.1% overnight (on the 10th). The Hong Kong Monetary Authority lowered the base rate of the discount window to 4%. The Hong Kong stock market was volatile in the morning session, with the Hang Seng Index opening up 169 points, and at one point the increase expanded to 260 points reaching 25,801 points before retreating, eventually falling 34 points to a low of 25,506 points. The index rose 22 points or 0.1% to close at 25,563 points; the National Index fell 11 points or 0.1% to 8,942 points; the Hang Seng Tech Index fell 36 points or 0.7% to 5,544 points. The total turnover of the market for the half-day was HKD 95.355 billion.

According to reports, the second-hand price of Quark AI glasses soared to 5,000 RMB, with orders delayed until 45 days later, and Alibaba-W (09988.HK) fell 0.8%. Kuaishou-W (01024.HK) introduced a new policy for comic dramas, with a maximum of 4% additional traffic rebate and a 20,000 RMB incentive per drama, and the stock closed flat at 67.15 HKD. NetEase-S (09999.HK) saw the global reservation number for "Yan Yun Shi Liu Sheng" on mobile international servers exceed 5 million, and the stock fell 0.2%. Sunny Optical (02382.HK) reported a 7.5% year-on-year increase in mobile lens shipments in November, with the stock falling 2.5%.

In other tech stocks, Tencent (00700.HK) fell 0.1%, Baidu-SW (09888.HK) rose 0.1%, Meituan-W (03690.HK) and Bilibili-W (09626.HK) rose 0.8% and 1% respectively. JD-SW (09618.HK) spun off JD Industry (07618.HK) for its first day of listing, with JD falling 0.4% in the half-day. JD Industry closed at 14.09 HKD, down 0.1% from the listing price of 14.1 HKD. Additionally, AAC Technologies (02018.HK), Kingsoft (03888.HK), Kingsoft Cloud (03896.HK), Kingdee (00268.HK), and Alibaba Health (00241.HK) fell between 2.8% and 3.6%, while Lens (06613.HK) rose 4%.

In the chip sector, SMIC (00981.HK) and Hua Hong (01347.HK) each fell 2.5%. It was reported that telecom equipment stock ZTE (00763.HK) paid over $1 billion to the U.S. to settle overseas bribery allegations, and ZTE fell 9.4%. In the wire sector, Changfei Fiber Optic Cable (06869.HK) rose 2.7% with a turnover of over 1.8 billion HKD. In the automotive sector, Xiaomi-W (01810.HK) rose 0.8%, while BYD (01211.HK) fell 0.5%. In the battery sector, CATL (03750.HK) rose 2.3%, while autonomous driving chip maker Horizon-W (09660.HK) fell 2.9%.

In the financial sector, HSBC (00005.HK) and Standard Chartered (02888.HK) rose 2% and 1.9% respectively, while Hong Kong Exchanges and Clearing (00388.HK) and AIA (01299.HK) each fell 0.1% Local property stocks Henderson Land (00012.HK) and Sun Hung Kai Properties (00083.HK) rose by 2% and 1.5%, while New World Development (00017.HK) fell by 1.7%. Commodity stocks did not benefit from the interest rate cut, with Zijin Mining (01818.HK) down 1.3%, China Gold International (02099.HK) down 2.8%, and Lingbao Gold (03330.HK) down 4%.

Resource stocks Jiangxi Copper (00358.HK), Minmetals Resources (01208.HK), and Chalco (02600.HK) fell by 2% to 2.5%, while Nanshan Aluminum International (02610.HK) dropped 3.1%. The semi-new stock Innovation Industry (02788.HK) rose by 2%.

In other stocks, domestic property stock Agile (03383.HK) fell by 6%. Wind power stock Goldwind (02208.HK) rose by 7%. It was reported that the polysilicon industry capacity acquisition platform has not yet been put into operation, leading to GCL-Poly Energy (03800.HK) falling by 5.3%. Pharmaceutical stocks Hansoh Pharmaceutical (03692.HK) and WuXi AppTec (02359.HK) rose by 2.3% and 2%, while Kangji Medical (00867.HK) fell by 3.1%