Hong Kong Stock Market Midday Review | Three major indices collectively closed higher, semiconductor sector surged across the board, internet heavyweight stocks showed mixed performance

Market Overview

▪ The Hong Kong stock market closed with all three major indices rising collectively;

▪ The Hang Seng Index closed at 26,104.42 points, up 0.79%;

▪ The Hang Seng Tech Index closed at 4,994.91 points, up 1.32%;

▪ The China Enterprises Index closed at 8,775.44 points, up 0.51%.

Sector Performance and Hot Stocks

The semiconductor sector surged across the board, with leading stocks showing strong capital attraction.

▪ Lanqi Technology (06809.HK) surged 19.1% to HKD 328, boosted by industry prosperity and overseas computing power demand, with strong capital buying interest, leading the industry chain in gains;

▪ SMIC (00981.HK) rose 9.25% to HKD 77.35, with half-day trading volume reaching HKD 11.75 billion, maintaining the absolute top position in market turnover and becoming a key force in today's sector rally;

▪ Additionally, GigaDevice (03986.HK) rose over 16%, Hua Hong Semiconductor (01347.HK) rose over 12%, and Tensilica (09903.HK) rose over 11%.

Internet heavyweight stocks showed significant divergence, with AI application concepts favored by capital.

▪ Alibaba-W (09988.HK) performed strongly, rising 3.73% to HKD 136.1, with a trading volume of HKD 9.56 billion, driven by expectations of AI commercialization leading to continuous inflow of large capital;

▪ Baidu Group-SW (09888.HK) rose 4.31% to HKD 130.8, also significantly benefiting from AI favorable catalysts, showing impressive performance;

▪ Tencent Holdings (00700.HK) fell 1.36% to HKD 465.8;

▪ Meituan-W (03690.HK) fell about 1% to HKD 82.7.

Automotive, oil and gas, and innovative pharmaceuticals collectively corrected.

▪ BYD Company (01211.HK) fell nearly 2.5%;

▪ Geely Automobile (00175.HK) fell over 2%;

▪ CNOOC (00883.HK) fell over 2.6%;

▪ The innovative pharmaceutical sector's Innovent Biologics (01801.HK) also fell over 3.5%.

Macroeconomic Background

▪ On the news front, multiple overseas favorable factors resonated to boost technology stock sentiment. Samsung Electronics' market value surpassed USD 1 trillion, driving a surge in the Korean stock market, combined with AMD's first-quarter earnings report and second-quarter guidance exceeding expectations, as well as Apple's discussions on chip manufacturing cooperation, injecting strong confidence into the Hong Kong semiconductor sector. Additionally, Anthropic's massive spending plan on Google Cloud and Meta's advancement in AI agents signify a comprehensive acceleration of overseas AI application commercialization, providing new valuation references and capital game directions for Hong Kong internet and computing power companies.

Market Turnover TOP10

▪ SMIC latest trading price HKD 77.35, up 9.25%, turnover HKD 11.75 billion

▪ Alibaba -W latest trading price HKD 136.10, up 3.73%, turnover HKD 9.56 billion ▪ Tencent Holdings latest transaction price is HKD 465.80, down 1.36%, with a transaction amount of HKD 8.41 billion.

▪ Tracker Fund of Hong Kong latest transaction price is HKD 26.22, up 0.77%, with a transaction amount of HKD 6.95 billion.

▪ Yangtze Optical Fibre and Cable latest transaction price is HKD 215.80, down 4.43%, with a transaction amount of HKD 3.97 billion.

▪ Xiaomi Group -W latest transaction price is HKD 30.88, up 1.38%, with a transaction amount of HKD 3.88 billion.

▪ Hua Hong Semiconductor latest transaction price is HKD 133.60, up 12.27%, with a transaction amount of HKD 3.59 billion.

▪ Contemporary Amperex Technology latest transaction price is HKD 653.50, down 0.23%, with a transaction amount of HKD 3.26 billion.

▪ Hang Seng China Enterprises latest transaction price is HKD 89.86, up 0.36%, with a transaction amount of HKD 3.16 billion.

▪ XL Southern Hynix latest transaction price is HKD 70.56, up 17.60%, with a transaction amount of HKD 2.68 billion