Market Overview
▪ During the trading session, the three major indices of the Hong Kong stock market maintained a fluctuating pattern;
▪ The Hang Seng Index reported 25,966.64 points, down 0.04%, continuing a range consolidation trend in the short term;
▪ The Hang Seng Tech Index reported 4,937.95 points, up 0.71%, with recent trends still unable to break through again;
▪ The China Enterprises Index reported 8,775.32 points, slightly up 0.01% during the session, currently positioned below the phase high, with ongoing tug-of-war between bulls and bears.
Sector Performance
▪ The technology sector led the performance during the session, with funds concentrated in related tracks stimulated by AI and chip hotspots. The hype around AI technology and semiconductors intensified, driving significant increases in chip companies such as Lanqi Technology, SMIC, and Hua Hong Semiconductor, indicating short-term capital chasing growth leaders.
▪ The healthcare and growth technology sectors were overall strong, with some small-cap stocks experiencing short-term fluctuations driven by capital speculation. Pudate Technology, GUANZE MEDICAL, and Tianrui Automotive Interior all recorded double-digit gains during the session, with active trading.
▪ Traditional blue chips and leading consumer and internet stocks showed differentiation, with individual heavyweight stocks like Tencent Holdings and Meituan adjusting, reflecting intensified rotation of investor styles and structural capital battles. High-dividend, quality Chinese stocks attracted some bottom-fishing capital attention, but overall trading remained cautious, with noticeable capital switching between mainstream sectors.
Macroeconomic Background
▪ During the session, the market was observing inflation and import-export data performance, with increased external uncertainties. Investors continued to focus on policy trends, liquidity, and changes in foreign capital. Funds gradually leaned towards growth innovation and some high-dividend sectors, with short-term trading activity significantly influenced by macro factors.
▪ Recent capital differentiation in U.S. tech stocks has had a certain transmission effect on market sentiment in Hong Kong stocks. After hedge funds accelerated their adjustments in U.S. tech stocks, the short-term activity of AI and semiconductor concepts increased.
Popular Stocks
▪ Pudate Technology (650.HK) surged 28.30% during the session, with a trading volume of HKD 31.6636 million. The company had a relatively quiet news front recently, with capital speculating short-term based on themes, driving the overall growth technology sector's heat.
▪ GUANZE MEDICAL (2427.HK) rose 29.67% during the session, with a trading volume of HKD 26.3155 million. There were no significant positive catalysts in the market, indicating active short-term speculative capital.
▪ AV CONCEPT HOLD (595.HK) increased by 23.91%, with a trading volume of HKD 82.8525 million. There were no sudden events in the industry, but capital inflow led to significant stock price fluctuations.
▪ Lanqi Technology (6809.HK) surged 14.31% during the session, with a trading volume of HKD 7,801.822 million. On April 27, 2026, influenced by the collective explosion of chip stocks, the preview of the AI-related new technology DeepSeek V4 was released, enhancing expectations for industry demand recovery, with collective capital inflow driving significant market attention towards semiconductor targets like Lanqi Technology. If AI and semiconductor demand warms up subsequently, it will continue to improve the company's profit expectations.
▪ Tianrui Automotive Interior (6162.HK) rose 21.67% during the session, with a trading volume of HKD 9.2845 million. There were no obvious fundamental positives, but short-term capital attention increased, driving the stock price up
Market Trading Volume TOP10
▪ Tencent Holdings (700.HK) latest trading price HKD 485.60, down 1.58%, trading volume HKD 6.608 billion
▪ SMIC (981.HK) latest trading price HKD 68.60, up 6.69%, trading volume HKD 6.424 billion
▪ Alibaba -W (9988.HK) latest trading price HKD 132.10, up 0.23%, trading volume HKD 2.816 billion
▪ Hua Hong Semiconductor (1347.HK) latest trading price HKD 113.30, up 4.81%, trading volume HKD 2.684 billion
▪ Yangtze Optical Fibre and Cable (6869.HK) latest trading price HKD 239.60, up 8.71%, trading volume HKD 2.660 billion
▪ BYD Company (1211.HK) latest trading price HKD 105.30, up 4.05%, trading volume HKD 1.858 billion
▪ Meituan -W (3690.HK) latest trading price HKD 80.85, down 1.94%, trading volume HKD 1.411 billion
▪ MINIMAX-W (100.HK) latest trading price HKD 669.00, down 13.95%, trading volume HKD 1.263 billion
▪ Xiaomi Group -W (1810.HK) latest trading price HKD 31.14, down 0.19%, trading volume HKD 1.225 billion
▪ CNOOC (883.HK) latest trading price HKD 28.34, up 1.58%, trading volume HKD 1.026 billion

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As of midday, the three major indices of the Hong Kong stock market maintained fluctuations, with the technology sector significantly strengthening under the influence of AI and chip themes, and many leading stocks showing notable gains. The chip theme has become the focus of market attention, with Lanqi Technology rising over 14% during the day, and semiconductor stocks such as SMIC and Hua Hong Semiconductor seeing active capital. The overall market shows clear differentiation, with investors exhibiting strong wait-and-see sentiment, highlighting structural characteristics in trading, and a clear rotation trend in the market

- The Hong Kong stock market remained volatile, with the Hang Seng Index closing at 25,966.64 points, down 0.04%.  
- The technology sector outperformed, driven by interest in AI and semiconductors, while top-performing stocks saw significant gains despite limited news catalysts.  
- Investors are cautious amid rising inflation and economic uncertainties, focusing on growth and innovation sectors, with notable trades in high-dividend Chinese stocks.

LB Select

PRODUCTIVE TECH

GUANZE MEDICAL

AV CONCEPT HOLD

MONTAGE TECH

TR INTERIORS

Hong Kong stocks intraday | The three major indices maintain fluctuations, the chip sector erupts, and SMIC strengthens significantly