--- title: "Hong Kong stocks intraday | Technology stocks lead the Hang Seng Index up nearly 2%, oil, gas, and coal stocks weaken due to the US-Iran talks" type: "News" locale: "en" url: "https://longbridge.com/en/news/285475330.md" description: "On May 7th, during the Hong Kong stock market session, the three major indices collectively surged, with the Hang Seng Tech Index leading the market with a 2.67% increase. Boosted by the strong performance of U.S. tech stocks overnight and the progress of AI commercialization, tech giants rallied across the board, with Kuaishou soaring nearly 7% and Alibaba and Baidu rising over 4%. Meanwhile, the photovoltaic sector collectively rose due to expectations of profit recovery, and insurance and real estate stocks also performed well. In contrast, the traditional energy sector faced pressure, as expectations of easing geopolitical tensions in the Middle East led to a significant withdrawal of oil risk premiums, causing oil, gas, and coal stocks to decline sharply against the trend" datetime: "2026-05-07T02:52:16.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285475330.md) - [en](https://longbridge.com/en/news/285475330.md) - [zh-HK](https://longbridge.com/zh-HK/news/285475330.md) --- # Hong Kong stocks intraday | Technology stocks lead the Hang Seng Index up nearly 2%, oil, gas, and coal stocks weaken due to the US-Iran talks Market Overview ▪ The three major indices of the Hong Kong stock market rose collectively during the session; ▪ The Hang Seng Index closed at 26,593.49 points, up 1.45%; ▪ The Hang Seng Tech Index closed at 5,102.02 points, up 2.67%; ▪ The State-Owned Enterprises Index closed at 8,918.72 points, up 1.34%. **Sector Performance and Hot Stocks** **Tech stocks surged across the board, with AI logic continuing to pay off.** ▪ Kuaishou-W (01024.HK) surged 6.80%, closing at HKD 48.06; ▪ Alibaba-W latest transaction price HKD 140.30, up 4.55%, with a transaction volume of HKD 8.118 billion; ▪ Tencent Holdings latest transaction price HKD 473.80, up 2.33%, with a transaction volume of HKD 7.134 billion; ▪ Kuaishou-W latest transaction price HKD 47.94, up 6.53%, with a transaction volume of HKD 2.714 billion. **The photovoltaic sector rose collectively, with expectations of profit recovery heating up.** ▪ Junda Co., Ltd. (02865.HK) surged 10.88%, closing at HKD 38.92; ▪ Datang International Power Generation (00991.HK) rose 6.48%, closing at HKD 3.12. **Insurance and real estate stocks performed well.** ▪ China Life (02628.HK) rose 4.88%, Ping An Insurance (02318.HK) rose 3.19%, AIA Group (01299.HK) rose 1.77%; ▪ In real estate, China Overseas Land & Investment (00688.HK) rose 3.14%, China Resources Land (01109.HK) rose 1.36%. Additionally, Techtronic Industries (00669.HK), Laoputang Gold (06181.HK), and BeiGene (06160.HK) also performed actively. **Oil, gas, and coal stocks fell sharply against the trend.** ▪ YANKUANG ENERGY (01171.HK) plummeted 6.54%, closing at HKD 14.73; PETROCHINA (00857.HK) fell 3.68%, closing at HKD 11.25; CNOOC (00883.HK) fell 3.28%, closing at HKD 27.12. **Macroeconomic Background** ▪ On the news front, global risk appetite has shown a significant shift. On one hand, overnight U.S. chip stocks have led the gains, driving the Nasdaq to a new high, coupled with explosive growth in AI model usage by giants like Tencent, leading to strong demand for tech growth sectors. ▪ Reports indicate that the U.S. and Iran are close to reaching a ceasefire memorandum, significantly warming expectations for easing tensions in the Middle East, causing Brent crude oil futures to plummet 7.83% to USD 101.27 per barrel. The rapid withdrawal of oil risk premiums, previously driven by geopolitical risks in the Strait of Hormuz and other areas, directly dragged down the performance of traditional energy sectors in the Hong Kong stock market. **Top 10 Market Transaction Volumes** ▪ Alibaba-W latest transaction price HKD 140.30, up 4.55%, with a transaction volume of HKD 8.118 billion; ▪ Tencent Holdings latest transaction price HKD 473.80, up 2.33%, with a transaction volume of HKD 7.134 billion ▪ SMIC latest transaction price HKD 74.70, down 0.20%, transaction amount HKD 3.362 billion ▪ Kuaishou -W latest transaction price HKD 47.94, up 6.53%, transaction amount HKD 2.714 billion ▪ Yangtze Optical Fibre and Cable latest transaction price HKD 232.20, up 7.20%, transaction amount HKD 2.393 billion ▪ Hua Hong Semiconductor latest transaction price HKD 135.30, up 4.00%, transaction amount HKD 2.018 billion ▪ CNOOC latest transaction price HKD 26.90, down 4.07%, transaction amount HKD 2.016 billion ▪ CATL latest transaction price HKD 654.00, down 2.24%, transaction amount HKD 1.870 billion ▪ Xiaomi Group -W latest transaction price HKD 31.24, up 1.36%, transaction amount HKD 1.792 billion ▪ Zijin Mining latest transaction price HKD 37.78, up 1.29%, transaction amount HKD 1.640 billion ### Related Stocks - [01171.HK](https://longbridge.com/en/quote/01171.HK.md) - [00857.HK](https://longbridge.com/en/quote/00857.HK.md) - [00883.HK](https://longbridge.com/en/quote/00883.HK.md) ## Related News & Research - [Marc Andreessen's custom AI prompt calls for blunt, aggressive answers](https://longbridge.com/en/news/285236675.md) - [Don't let these 3 AI investing mistakes destroy your gains](https://longbridge.com/en/news/284973764.md) - [These Are April's 2 Hottest AI Stocks. 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