--- title: "HK Stocks Midday Review | Hang Seng TECH Index Rises Over 3%, Led by Tech and Semiconductors; Oil, Gas, and Coal Stocks Decline Collectively" type: "News" locale: "en" url: "https://longbridge.com/en/news/285482317.md" description: "At the midday close on May 7, Hong Kong stocks' three major indices surged, with the Hang Seng TECH Index leading the market with a 3.09% gain. The tech internet and semiconductor/optical communication sectors became the main focus of bullish capital, with Kuaishou and Hua Hong Semiconductor both soaring over 7%, while trading volumes for Tencent and Alibaba approached the HKD 10 billion mark. On the other hand, traditional energy stocks such as oil, gas, and coal suffered collective setbacks due to expectations of easing geopolitical tensions. Additionally, the robotics concept and insurance sector showed active performance during the session" datetime: "2026-05-07T04:13:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285482317.md) - [en](https://longbridge.com/en/news/285482317.md) - [zh-HK](https://longbridge.com/zh-HK/news/285482317.md) --- # HK Stocks Midday Review | Hang Seng TECH Index Rises Over 3%, Led by Tech and Semiconductors; Oil, Gas, and Coal Stocks Decline Collectively Market Overview ▪ At the midday close, Hong Kong stocks' three major indices rose collectively; ▪ The Hang Seng Index closed at 26,624.34 points, up 1.57%; ▪ The Hang Seng TECH Index closed at 5,122.89 points, up 3.09%; ▪ The SOE Index closed at 8,938.26 points, up 1.56%. **Sector Performance and Hot Stocks** **Tech internet stocks strengthened across the board, with heavyweight giants delivering standout performances**. ▪ Kuaishou-W (01024.HK) surged 7.51% to HKD 48.38; ▪ Alibaba-W (09988.HK) rose 4.47%, with impressive "May Day" data from its Fliggy platform reflecting the continued improvement of its consumer ecosystem; ▪ Tencent Holdings (00700.HK) gained 3.63%, boosted by the signing of a long-term game cooperation framework with China Ruyi; Baidu Group-SW (09888.HK) soared 5.17%. **Semiconductor and optical communication sectors led the gains** **▪** Hua Hong Semiconductor (01347.HK) rose 7.07% to HKD 139.3; ▪ Yangtze Optical Fibre and Cable (06869.HK) surged 8.77% to HKD 235.6; ▪ CIG Shanghai (06166.HK) rose nearly 7%; ▪ Montage Technology (06809.HK) gained over 4%. The logic of surging performance in overseas optical modules and valuation repair for memory chips continued to gain momentum. **Oil, gas, and coal stocks weakened collectively** ▪ YANKUANG ENERGY (01171.HK) plummeted 7.11% to HKD 14.64; ▪ PetroChina (00857.HK) fell 4.97%; ▪ CNOOC (00883.HK) dropped 4.28%; China Shenhua (01088.HK) fell 3.31%. **Other concept sectors showed activity** ▪ Most robotics concept stocks rose driven by positive catalysts, with Techtronic Industries (00669.HK) gaining over 8%, and Kingboard Laminates (01888.HK) rising nearly 7%; ▪ Insurance stocks performed actively, with China Life Insurance rising over 4%; additionally, Dipu Technology (01384.HK) soared over 20% in the first half of the day. **Macro Background** ▪ In terms of news, a mix of industrial and geopolitical developments dominated market capital flows. Geopolitically, rumors suggested that the US and Iran were close to reaching a ceasefire memorandum of understanding, significantly alleviating expectations of tight energy supply chains. Brent crude prices fell sharply, directly dragging down the performance of energy stocks. ▪ Industrially, Coherent's earnings report confirmed that 1.6T optical modules are ramping up at an astonishing rate. Coupled with South Korean institutions raising target prices for memory chip giants, this further ignited bullish sentiment in the optical communication and semiconductor sectors. Additionally, Musk confirmed that Optimus robots will enter production in July or August, effectively boosting related concept stocks in the Hong Kong robotics industry chain. **Top 10 Market Turnover** ▪ Tencent Holdings (00700.HK) Latest price: HKD 479.80, +3.63%, Turnover: HKD 10.8 billion ▪ Alibaba-W (09988.HK) Latest price: HKD 140.20, +4.47%, Turnover: HKD 9.6 billion ▪ Tracker Fund of Hong Kong (02800.HK) Latest price: HKD 26.80, +1.90%, Turnover: HKD 8.3 billion ▪ SMIC (00981.HK) Latest price: HKD 75.55, +0.94%, Turnover: HKD 4.5 billion ▪ Kuaishou-W (01024.HK) Latest price: HKD 48.38, +7.51%, Turnover: HKD 3.3 billion ▪ Yangtze Optical Fibre and Cable (06869.HK) Latest price: HKD 235.60, +8.77%, Turnover: HKD 3.3 billion ▪ Hua Hong Semiconductor (01347.HK) Latest price: HKD 139.30, +7.07%, Turnover: HKD 3.1 billion ▪ CNOOC (00883.HK) Latest price: HKD 26.84, -4.28%, Turnover: HKD 2.6 billion ▪ Xiaomi Group-W (01810.HK) Latest price: HKD 31.46, +2.08%, Turnover: HKD 2.4 billion ▪ CATL (03750.HK) Latest price: HKD 654.00, -2.24%, Turnover: HKD 2.3 billion ### Related Stocks - 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