--- title: "HK Stock Midday Review | Three Major Indices Steadily Rise, Software Sector Rallies Collectively, Zhipu Surges Over 10%, Manycore Tech Leads Gains" type: "News" locale: "en" url: "https://longbridge.com/en/news/283291803.md" description: "On April 20, the HK stock market opened with continued high-level volatility. The three major indices rose collectively, and overall market sentiment turned positive. On the trading floor, system software and internet content sectors performed particularly actively, serving as the core engines driving index recovery. Large model-related targets such as Zhipu and MINIMAX received strong capital support, reflecting the market's extremely high recognition of AI commercialization and the token economy. Meanwhile, blue-chip weight stocks like Tencent and Alibaba moved steadily upward, providing solid bottom support for the broader market" datetime: "2026-04-20T04:06:11.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/283291803.md) - [en](https://longbridge.com/en/news/283291803.md) - [zh-HK](https://longbridge.com/zh-HK/news/283291803.md) --- # HK Stock Midday Review | Three Major Indices Steadily Rise, Software Sector Rallies Collectively, Zhipu Surges Over 10%, Manycore Tech Leads Gains **Market Overview** ▪ As of midday, HK stock major indices rose collectively, continuing the recent pattern of high-level volatility. ▪ The Hang Seng Index stood at 26,376.98 points by midday, up 0.83%. Although it did not break through a new stage high, overall market sentiment remained positive; ▪ The Hang Seng Tech Index closed at 5,081.64 points by midday, up 0.77%, maintaining high-level volatility overall; ▪ The HSI China Enterprises Index closed at 8,913.46 points by midday, up 0.77%, continuing its short-term recovery trend. **Sector Performance** ▪ The Internet Content and Information sector showed active performance during the session, supported by the continuous advancement of AI applications and strong earnings from industry leaders. Tencent Holdings rose 2.64% with trading volume of HK$7.104 billion, further reinforcing its position as an industry leader. The company's AI capabilities and stable business lines attracted high attention from foreign investors and the market, fostering a positive investment sentiment across the sector. Kuaishou gained 1.38%, while Baidu Group rose 1.07%, both driven by AI innovation and industry capital preferences, with clear bullish sentiment among funds within the sector. ▪ The System Software sector surged during the session, becoming the leading theme. Zhipu rose 10.55% with trading volume of HK$1.495 billion, placing it at the core of fund attention. Market funds continued to flow into large model and token economy concepts. Zhipu benefited from rapid AI commercialization and capital focus, with both speculative and allocation funds flowing in simultaneously. MINIMAX-W rose 3.03% with active trading, where its core technical status drove expectations for ToB expansion and globalization. Dipu Technology edged up 0.07%, with clear characteristics of a main sector theme. ▪ The Communication Equipment sector showed volatility, presenting a coexistence of rising industry prosperity and structural divergence. YOFC rose 2.82% with trading volume of HK$3.753 billion. Driven by a sharp rise in fiber optic prices and rapid growth in production and sales, the sector's high prosperity attracted allocation funds, with the market optimistic about full order books and future profit elasticity. CIG fell 5.37%, coming under short-term pressure due to news of shareholder reductions, despite high heat around the liquid cooling theme in the industrial chain; short-term funds showed divergence. ZTE Corporation rose 2.32%, continuously benefiting from AI computing infrastructure expansion and policy-driven prosperity, though a high proportion of short positions suggests ongoing market speculation. **Macro Background** ▪ By April, there have been no significant changes in macro indicators for the HK stock market. Focus remains on the economic environments in China and the US, RMB exchange rate fluctuations, and policy direction. Sector divergence and foreign capital flows have become key variables affecting market structure. Funds continue to monitor policy signals and shifts in capital distribution, with structural themes favored by allocation capital. **Hot Individual Stocks** ▪ MANYCORE TECH (68.HK) surged 47.42% during the session with trading volume of HK$1.728 billion. As a hot anomaly leader, fund chasing drove a significant expansion in trading. No clear company announcement has emerged yet, highlighting prominent short-term speculative characteristics. ▪ NUOBIKAN (2635.HK) rose 22.81% during the session with trading volume of HK$465 million. The company was added to the Shanghai-HK Stock Connect and Shenzhen-HK Stock Connect targets on April 20, potentially accelerating inflows of southbound funds, which is positive for short-term performance. Its main business involves applying AI technology in transportation, energy, and urban governance, though high valuation pressures are emerging. ▪ ASIA TELE-NET (679.HK) surged 32.26% during the session with trading volume of HK$75 million. Although no major company announcements were made, market hot money aggregation drove significant price movement. ▪ EDIANYUN (2416.HK) rose 31.28% during the session with trading volume of HK$61 million. Lacking clear catalysts, signs of concentrated short-term speculation were obvious. ▪ GUANZE MEDICAL (2427.HK) rose 23.39% during the session with trading volume of HK$21 million. The pharmaceutical sector was generally active; the company's intraday gain reached 21.35%, with active fund inflows. Sub-sector leaders stood out amid short-term fund speculation. **Top 10 Trading Volume Stocks** ▪ Tencent Holdings (700.HK) Latest trade price: HK$524.00, Up 2.64%, Trading volume: HK$7.104 billion ▪ Alibaba -W (9988.HK) Latest trade price: HK$137.60, Up 0.88%, Trading volume: HK$5.160 billion ▪ YOFC (6869.HK) Latest trade price: HK$211.80, Up 2.82%, Trading volume: HK$3.750 billion ▪ CNOOC (883.HK) Latest trade price: HK$26.88, Down 0.37%, Trading volume: HK$2.960 billion ▪ Xiaomi Group -W (1810.HK) Latest trade price: HK$32.46, Up 1.44%, Trading volume: HK$2.660 billion ▪ POP MART (9992.HK) Latest trade price: HK$160.00, Up 0.57%, Trading volume: HK$2.410 billion ▪ SMIC (981.HK) Latest trade price: HK$60.10, Up 1.26%, Trading volume: HK$2.350 billion ▪ MANYCORE TECH (68.HK) Latest trade price: HK$27.42, Up 47.42%, Trading volume: HK$1.730 billion ▪ HUA HONG SEMI (1347.HK) Latest trade price: HK$94.35, Up 4.25%, Trading volume: HK$1.710 billion ▪ Meituan -W (3690.HK) Latest trade price: HK$85.50, Down 1.16%, Trading volume: HK$1.610 billion ### Related Stocks - [01347.HK](https://longbridge.com/en/quote/01347.HK.md) - [00068.HK](https://longbridge.com/en/quote/00068.HK.md) - [02635.HK](https://longbridge.com/en/quote/02635.HK.md) - [00679.HK](https://longbridge.com/en/quote/00679.HK.md) - [02416.HK](https://longbridge.com/en/quote/02416.HK.md) - [02427.HK](https://longbridge.com/en/quote/02427.HK.md) - [00981.HK](https://longbridge.com/en/quote/00981.HK.md) - [06869.HK](https://longbridge.com/en/quote/06869.HK.md) - [06166.HK](https://longbridge.com/en/quote/06166.HK.md) ## Related News & Research - [First Shanghai Securities Keeps Their Buy Rating on Semiconductor Manufacturing International (0981)](https://longbridge.com/en/news/282789276.md) - [Semiconductor Manufacturing International (0981): New Buy Recommendation for This Technology Giant](https://longbridge.com/en/news/278340633.md) - [A Look At Yangtze Optical Fibre And Cable (SEHK:6869) Valuation After Strong 2025 Results And Higher Final Dividend](https://longbridge.com/en/news/281733914.md) - [Hua Hong Semiconductor Wins SSE Acceptance for Share-Issuance Acquisition Plan](https://longbridge.com/en/news/281182290.md) - [Nuobikan AI Clarifies Trading Limits Around Share Subdivision and Board Lot Change](https://longbridge.com/en/news/277626869.md)