--- title: "Hong Kong Stock Market Review: Hang Seng TECH Index fell over 2%, southbound funds net sold over HKD 21 billion" type: "News" locale: "en" url: "https://longbridge.com/en/news/279911713.md" description: "On March 20th, Hong Kong stocks opened lower and continued to decline, with the Hang Seng Index falling by 0.88% and the Hang Seng TECH Index dropping by 2.48%. Southbound funds had a net sell-off of over HKD 21 billion. Technology stocks fell broadly, with Xiaomi down over 8% and Alibaba down over 6%. Lithium battery stocks performed strongly, with CATL rising over 8%. New energy vehicle concept stocks rose, with GEELY AUTO up over 5%. Some photovoltaic solar concept stocks increased, with Xiehe New Energy rising over 3%. YOFC rose over 5% due to news from the 2026 Fiber Communication Conference" datetime: "2026-03-20T08:39:13.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/279911713.md) - [en](https://longbridge.com/en/news/279911713.md) - [zh-HK](https://longbridge.com/zh-HK/news/279911713.md) --- # Hong Kong Stock Market Review: Hang Seng TECH Index fell over 2%, southbound funds net sold over HKD 21 billion On March 20, Hong Kong stocks opened lower and continued to decline throughout the day. By the close, **the Hang Seng Index fell by 0.88%, and the Hang Seng TECH Index fell by 2.48%.** **Throughout the day, southbound funds had a net sell-off of over HKD 21 billion.** **Major technology stocks fell broadly,** with Xiaomi down over 8%, Alibaba down over 6%, and Baidu and Meituan down nearly 2%. **Lithium battery stocks strengthened,** with CATL up over 8%, and Zhongchuang Innovation and Ganfeng Lithium up over 5%. **New energy vehicle concept stocks rose,** with GEELY AUTO up over 5%, and Great Wall Motors, BYD Electronics, and Li Auto-W also rising. **Some photovoltaic solar concept stocks rose,** with Xiehe New Energy up over 3%, and Sunshine Energy and Junda Co., Ltd. also rising. #### Individual Stock Movements #### The 2026 Fiber Optic Communication Conference will be held, and YOFC rose over 5% On March 20, YOFC rose over 5%. According to Shanghai Securities News, the 2026 Fiber Optic Communication Conference and Exhibition (OFC) will be officially held at the Los Angeles Convention Center, with optical communication giants such as Lumentum, Coherent, and AAOI all in attendance. This year's OFC signals that the explosive growth in AI computing power demand is forcing data centers to completely restructure their optoelectronic network architecture. #### Musk's team is expected to ship photovoltaic equipment in the first week of May, and Junda Co., Ltd. rose over 16% during the day On March 20, Junda Co., Ltd. rose over 16% during the day, but by the close, the increase narrowed to 1.25%. According to Caixin, sources revealed that Musk's Space X team previously purchased equipment from a leading heterojunction equipment manufacturer in China, with the order expected to ship in the first week of May. Exports of semiconductor-like products require approval from relevant departments and are currently in progress. It is reported that Musk's photovoltaic orders are mainly divided into Space X (S chain) and Tesla (T chain), with planned application scenarios for space and ground, respectively. Additionally, sources indicated that the T chain cooperation orders are still under negotiation, involving multiple TOPCon equipment manufacturers ### Related Stocks - [STECH.HK](https://longbridge.com/en/quote/STECH.HK.md) - [00175.HK](https://longbridge.com/en/quote/00175.HK.md) - [601869.CN](https://longbridge.com/en/quote/601869.CN.md) - [06869.HK](https://longbridge.com/en/quote/06869.HK.md) - [515030.CN](https://longbridge.com/en/quote/515030.CN.md) - [159740.CN](https://longbridge.com/en/quote/159740.CN.md) - [KBAB.US](https://longbridge.com/en/quote/KBAB.US.md) - [513580.CN](https://longbridge.com/en/quote/513580.CN.md) - [520570.CN](https://longbridge.com/en/quote/520570.CN.md) - [03033.HK](https://longbridge.com/en/quote/03033.HK.md) - [588830.CN](https://longbridge.com/en/quote/588830.CN.md) - [516380.CN](https://longbridge.com/en/quote/516380.CN.md) - [516160.CN](https://longbridge.com/en/quote/516160.CN.md) - [513130.CN](https://longbridge.com/en/quote/513130.CN.md) - [513010.CN](https://longbridge.com/en/quote/513010.CN.md) - [09988.HK](https://longbridge.com/en/quote/09988.HK.md) - [BABA.US](https://longbridge.com/en/quote/BABA.US.md) ## Related News & Research - [BYD in talks with automakers over European factory takeovers](https://longbridge.com/en/news/286502331.md) - [Key facts: Li Auto L9 uses FlexNoC/Magillem for 2,560 TOPS; shares fall](https://longbridge.com/en/news/286979573.md) - [Volvo reveals EX60 prices start at under $60,000 with over 300 miles rangeof](https://longbridge.com/en/news/286808075.md) - [Chinese car dealerships take over Britain as drivers back cheap EVs](https://longbridge.com/en/news/286916331.md) - [BYD sees monthly sales climbing on battery capacity ramp-up](https://longbridge.com/en/news/286554635.md)