--- title: "Hong Kong Stock Market Review: Hang Seng TECH Index Rises 3.15%! Innovative Drugs Strengthen, Non-ferrous Metal Stocks Weak" type: "News" locale: "en" url: "https://longbridge.com/en/news/278093944.md" description: "On March 6th, the three major indices of the Hong Kong stock market opened high and rose further, with the Hang Seng TECH Index rebounding significantly by 3.15%. Large technology stocks collectively increased, with JD rising nearly 10% and NetEase rising over 5%. The innovative drug concept strengthened, with 3SBIO and Kangnuo Ya rising over 9%. Coal stocks were active, and real estate and bank stocks also rose. In contrast, non-ferrous metal stocks were sluggish, with China Gold International falling over 5%. JD's financial report showed that total revenue is expected to exceed 1.3 trillion yuan for the first time in 2025, a year-on-year increase of 13%. The government work report for the first time listed biomedicine as an \"emerging pillar industry.\"" datetime: "2026-03-06T12:08:57.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/278093944.md) - [en](https://longbridge.com/en/news/278093944.md) - [zh-HK](https://longbridge.com/zh-HK/news/278093944.md) --- > Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/278093944.md) | [繁體中文](https://longbridge.com/zh-HK/news/278093944.md) # Hong Kong Stock Market Review: Hang Seng TECH Index Rises 3.15%! Innovative Drugs Strengthen, Non-ferrous Metal Stocks Weak On March 6, the three major indices of the Hong Kong stock market opened high and rose, with the Hang Seng TECH Index rebounding sharply by 3.15%, and the Hang Seng Index and the National Enterprises Index rising by 1.72% and 2.09%, respectively. In the market, large technology stocks, as market barometers, collectively rebounded, with JD.com rising nearly 10%, NetEase up over 5%, and Xiaomi, Alibaba, Tencent Holdings, Meituan, Baidu, and Kuaishou all rising over 3%. The innovative drug concept strengthened, with 3SBIO and Kangnuo Ya rising over 9%. New energy vehicle stocks rose, with Geely Automobile up nearly 8%. Coal stocks were active, with Yancoal Australia rising nearly 6%. Domestic property stocks, bank stocks, insurance stocks, lottery stocks, film and television stocks, dairy products, and oil stocks also increased. On the other hand, stocks of non-ferrous metals such as gold, aluminum, and copper were sluggish, with China Gold International falling over 5%. The ongoing conflict in the Middle East combined with rising oil prices caused most airline stocks to remain low, with China Southern Airlines experiencing a seven-day decline. Rare earth concepts, optical communication, batteries, steel, and gas stocks also fell. Specifically: **Weighted technology stocks collectively rose**, with JD.com up nearly 10%, NetEase up over 5%, and Xiaomi, Alibaba, Tencent Holdings, Meituan, Baidu, and Kuaishou all rising over 3%. JD.com announced its financial report showing that total revenue for the full year of 2025 will exceed 1.3 trillion yuan for the first time, a year-on-year increase of 13%, marking the highest growth rate in recent years. The profitability of its core retail business continues to improve, with the operating profit margin rising to 4.6%, and service revenue growing at a rate of 23.6%, becoming the main growth engine. In the fourth quarter, revenue reached 352.3 billion yuan, a year-on-year increase of 1.5%, slightly exceeding expectations. Management also clarified that in 2026, it will build a diversified growth engine around the expansion of daily consumer categories, growth in advertising services, and the application of AI technology. **The innovative drug concept strengthened**, with 3SBIO and Kangnuo Ya rising over 9%, and Yuan Da Pharmaceutical, Sihuan Pharmaceutical Group, Innovent Biologics, and Sihuan Pharmaceutical also following suit. In terms of news, this year's government work report clearly stated that biomedicine will be listed as a national-level "emerging pillar industry" alongside integrated circuits, aerospace, and the low-altitude economy. This is the first time the government work report has mentioned biomedicine as a "pillar industry," signaling a clear policy direction to promote the accelerated upgrading of the industry and move towards high-quality development. The NextPharma database shows that as of February 25, there have been 44 innovative drug licensing transactions this year, with a total amount of 53.276 billion USD and an upfront payment of about 3.123 billion USD. **New energy vehicle stocks rose**, with Geely Automobile up nearly 8%, and Leapmotor, XPeng, Xiaomi Group, Beijing Automotive, Great Wall Motors, Li Auto, and BYD also following suit. Haitong International pointed out that in February, car sales were generally under pressure due to the impact of the Spring Festival disturbance and the shift in consumer rhythm, with a double-digit month-on-month decline becoming the main tone, but structural differentiation has emerged. Some companies rely on overseas volume, support from main models, or locked orders before model changes, showing relatively stable performance, reflecting the match between product rhythm and phased demand; while car companies affected by model change gaps or brand structure drag have more pronounced sales fluctuations. Overall, the price war is marginally cooling, with the focus of competition shifting to technology and new product cycles, as the industry awaits demand recovery and structural warming in March and April **Coal stocks are active**, Yancoal Australia rose nearly 6%, with China Coal Energy, Yanzhou Coal Mining, Yida Commodity, and Shougang Resources also rising. CITIC Securities believes that the escalation of geopolitical conflicts in the Middle East may push up oil prices, which could effectively drive up coal prices; at the same time, if the trade logistics of methanol and other chemical products are affected, domestic coal chemical consumption demand is also expected to increase, which would be beneficial for coal prices. Currently, combined with the export disturbances caused by reduced coal production in Indonesia, domestic coal price expectations are likely to continue to improve. **Domestic property stocks rose**, with China Resources Land, Midea Real Estate, Jianfa International Group, Country Garden, Greentown China, New City Development, and Sunac China also rising. Xiangcai Securities believes that Shanghai has significantly optimized purchase restrictions and provident fund loan policies before the arrival of the small spring in March, which is expected to stimulate demand to be released in a concentrated manner in the short term, activating the replacement chain of first and second-hand housing and boosting market confidence. The real estate sector still has gaming opportunities in March, especially regarding the expected incremental policies on real estate from the Two Sessions and the performance of sales data during the small spring. **Gold stocks continued to decline**, with China National Gold falling over 5%, and Shandong Gold, Tongguan Gold, Zijin Mining, China Silver Group, Zhaojin Mining, and Zijin Gold International also declining. Tianfeng Securities pointed out that as the situation in Iran escalates, gold has not continued to rise but instead fluctuated widely. We believe the main reason is that after the "plunge" in gold prices at the end of January this year, the sentiment of gold investors has become cautious. On one hand, this means that once gold rises, it is likely to see profit-taking; on the other hand, it also lays the foundation for gold prices to move towards a more "healthy" and sustainable trend. **Aviation stocks remain sluggish**, with Cathay Pacific, China Eastern Airlines, and Air China declining. In terms of individual stocks: Yaojie Ankang rose over 43%, reaching HKD 92, with a total market value of HKD 36.708 billion. In news, the 2026 National Two Sessions government work report for the first time explicitly includes the biopharmaceutical industry in the national "emerging pillar industries" sequence, alongside integrated circuits, aerospace, and low-altitude economy. This move marks a historic leap in the strategic position of biopharmaceuticals, releasing a clear policy signal to strengthen top-level design and accelerate industrial upgrading, injecting certainty into the long-term development of the industry. Today, southbound funds had a net sell of HKD 2.188 billion, with the Hong Kong Stock Connect (Shanghai) net sell of HKD 1.464 billion and the Hong Kong Stock Connect (Shenzhen) net sell of HKD 724 million. Looking ahead, Zheshang International maintains a cautiously optimistic attitude towards the short to medium-term trend of the Hong Kong stock market. In terms of sector allocation, it is optimistic about relatively prosperous industries benefiting from policy support such as new energy, innovative drugs, and AI technology; stable performance and stock price trends benefiting from policy support in undervalued state-owned enterprise dividend sectors; and Hong Kong local banks, telecommunications, and utility dividend stocks that are relatively independent in fundamentals and benefit from the interest rate cut cycle ### Related Stocks - [Guotai CSI Bio-medicine ETF (512290.CN)](https://longbridge.com/en/quote/512290.CN.md) - [ChinaAMC Hang Seng Biotechnology Technology ETF(QDII) (159892.CN)](https://longbridge.com/en/quote/159892.CN.md) - [ChinaAMC SSE STAR Biology and Medicine ETF (588130.CN)](https://longbridge.com/en/quote/588130.CN.md) - [Hang Seng TECH Index (STECH.HK)](https://longbridge.com/en/quote/STECH.HK.md) - [Bosera Hang Seng SCHK Innovative Drug Select ETF (520690.CN)](https://longbridge.com/en/quote/520690.CN.md) - [ChinaAMC SSE Health Care ETF Initiating Fund (510660.CN)](https://longbridge.com/en/quote/510660.CN.md) - [Hwabao WP Hang Seng SCHK Innovative Drug Select ETF (520880.CN)](https://longbridge.com/en/quote/520880.CN.md) - [GF CSI HK Innovative Drugs Industry ETF(QDII) (513120.CN)](https://longbridge.com/en/quote/513120.CN.md) - [JD HEALTH (06618.HK)](https://longbridge.com/en/quote/06618.HK.md) - [Penghua CSI HK Connect Health Care Composite ETF (513700.CN)](https://longbridge.com/en/quote/513700.CN.md) - [NETEASE MUSIC (09899.HK)](https://longbridge.com/en/quote/09899.HK.md) - [Fullgoal Hang Seng SCHK Innovative Drug & Healthcare ETF (159506.CN)](https://longbridge.com/en/quote/159506.CN.md) - [E Fund Hang Seng SCHK Innovative Drug ETF (159316.CN)](https://longbridge.com/en/quote/159316.CN.md) - [E Fund CSI 300 Health Care ETF (512010.CN)](https://longbridge.com/en/quote/512010.CN.md) - [Guotai SSE STAR Brand Name Drug ETF (589720.CN)](https://longbridge.com/en/quote/589720.CN.md) - [Minsheng Royal CSI Biotechnology Theme ETF (516930.CN)](https://longbridge.com/en/quote/516930.CN.md) - [Bosera Hang Seng Health Care ETF(QDII) (513060.CN)](https://longbridge.com/en/quote/513060.CN.md) - [China Universal 800 Health Care ETF (159929.CN)](https://longbridge.com/en/quote/159929.CN.md) - [Yinhua CSI Innovative Drugs Industry ETF (159992.CN)](https://longbridge.com/en/quote/159992.CN.md) - [3SBIO (01530.HK)](https://longbridge.com/en/quote/01530.HK.md) - [Huaan Hang Seng Biotech ETF (159102.CN)](https://longbridge.com/en/quote/159102.CN.md) - [ChinaAMC CSI Biotechnology Theme ETF (516500.CN)](https://longbridge.com/en/quote/516500.CN.md) - [JD-SW (09618.HK)](https://longbridge.com/en/quote/09618.HK.md) ## Related News & Research - [3SBio Nearly Doubles Revenue and Quadruples Profit in 2025, Keeps Dividend Steady](https://longbridge.com/en/news/281054154.md) - [10:00 ETSanyou Milestone | Recognized as a "Shanghai Municipal Enterprise Technology Center," Further Validating for Innovation Excellence](https://longbridge.com/en/news/281035304.md) - [Annovis Bio Director Purchased Shares Worth Over $1.4M](https://longbridge.com/en/news/281662341.md) - [Xinhua Pharma Becomes Marketing Authorization Holder of Dental Drug After Regulatory Nod](https://longbridge.com/en/news/281343251.md) - [Junshi Biosciences Chairman Completes RMB100 Million Shareholding Increase](https://longbridge.com/en/news/281231901.md)