--- title: "Hong Kong stocks intraday | Technology stocks collectively strengthen, oil and gas stocks fall against the trend, semiconductor sector leads in gains" type: "News" locale: "en" url: "https://longbridge.com/en/news/285496037.md" description: "On the afternoon of May 7th, the three major indices of the Hong Kong stock market continued their strong upward trend, with the Hang Seng Tech Index leading the market with an increase of over 3%. The AI wave continues to ferment, with Tencent's impressive large model data driving the tech sector's weights to strengthen across the board, and Kuaishou soaring nearly 8%; NVIDIA's increased investment in the optical supply chain, combined with the upward revision of storage chip valuations, catalyzed a strong rally in the semiconductor and optical fiber cable sectors. Conversely, traditional energy stocks such as oil and gas and coal suffered significant declines due to the impact of rising expectations for a ceasefire in the Middle East, leading to a drop in international oil prices" datetime: "2026-05-07T06:33:04.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285496037.md) - [en](https://longbridge.com/en/news/285496037.md) - [zh-HK](https://longbridge.com/zh-HK/news/285496037.md) --- # Hong Kong stocks intraday | Technology stocks collectively strengthen, oil and gas stocks fall against the trend, semiconductor sector leads in gains **Market Overview** ▪ During the trading session, the three major indices of the Hong Kong stock market rose collectively; ▪ The Hang Seng Index reported 26,624.34 points, an increase of 1.57%; ▪ The Hang Seng Tech Index reported 5,122.89 points, an increase of 3.09%; ▪ The State-Owned Enterprises Index reported 8,938.26 points, an increase of 1.56%. **Sector Performance and Hot Stocks** **Technology and Internet stocks surged across the board, with progress in large models boosting investor confidence.** ▪ Kuaishou-W (01024.HK) surged 7.82% to HKD 48.52; Alibaba-W (09988.HK) rose 4.02%; Baidu Group-SW (09888.HK) increased by 4.26%; ▪ Tencent Holdings (00700.HK) rose 3.24%, boosted by a surge in the usage of its mixed Yuan large model and reaching the top of market share, with the commercialization prospects of AI highly recognized by the market. **Semiconductor, Optical Fiber Cable, and PCB sectors strongly advanced** **▪** Hua Hong Semiconductor (01347.HK) surged 8.30% to HKD 140.9; ▪ Lanqi Technology (06809.HK) rose nearly 6%; ▪ SMIC (00981.HK) increased by 3.47%. **Optical Communication concept favored by funds** **▪** Changfei Optical Fiber Cable (06869.HK) rose 7.11%; ▪ Hongteng Precision (06088.HK) surged over 9%; ▪ Jiantao Laminated Board (01888.HK) increased nearly 7%. **Oil, Gas, and Coal stocks fell sharply against the trend** **▪** PetroChina (00857.HK) plummeted 7.62% to HKD 10.79; ▪ CNOOC (00883.HK) fell over 5%; ▪ China Shenhua (01088.HK) dropped 4.06%. It is worth mentioning that renowned investor Duan Yongping revealed he has swapped his holdings in China Shenhua for Pop Mart, leading to increased activity in Pop Mart (09992.HK), which rose over 4%. **Macroeconomic Background** ▪ On the news front, the technology and energy sectors face completely different macroeconomic catalysts. ▪ In technology and computing power, South Korean institutions raised target prices for storage giants, confirming a long-term demand reassessment for AI storage chips; at the same time, NVIDIA has made three moves this year to secure the optical communication supply chain, coupled with Coherent's optical module capacity remaining fully booked, further strengthening the market's consensus on bullishness in the AI computing hardware industry chain. ▪ In energy, rumors suggest that the U.S. and Iran are close to reaching a ceasefire memorandum, with expectations of the Strait of Hormuz reopening and sanctions being lifted, causing Brent crude oil prices to quickly fall back to around USD 101, directly dragging energy stocks down sharply. Top 10 Market Trading Volume ▪ Tencent Holdings (00700.HK) latest trading price HKD 478.00, increase of 3.24%, trading volume HKD 14.2 billion; ▪ Alibaba-W (09988.HK) latest trading price HKD 139.60, increase of 4.02%, trading volume HKD 11.5 billion ▪ Tracker Fund of Hong Kong (02800.HK) latest transaction price HKD 26.72, up 1.60%, transaction amount HKD 11.4 billion ▪ Semiconductor Manufacturing International Corporation (00981.HK) latest transaction price HKD 77.45, up 3.47%, transaction amount HKD 9.3 billion ▪ Hua Hong Semiconductor (01347.HK) latest transaction price HKD 140.90, up 8.30%, transaction amount HKD 5.2 billion ▪ Kuaishou-W (01024.HK) latest transaction price HKD 48.52, up 7.82%, transaction amount HKD 4.2 billion ▪ Changfei Optical Fiber and Cable (06869.HK) latest transaction price HKD 232.00, up 7.11%, transaction amount HKD 4.0 billion ▪ China National Offshore Oil Corporation (00883.HK) latest transaction price HKD 26.60, down 5.14%, transaction amount HKD 3.5 billion ▪ Pop Mart International (09992.HK) latest transaction price HKD 163.00, up 4.29%, transaction amount HKD 3.3 billion ▪ Contemporary Amperex Technology Co., Limited (03750.HK) latest transaction price HKD 662.00, down 1.05%, transaction amount HKD 3.3 billion ### Related Stocks - [601857.CN](https://longbridge.com/en/quote/601857.CN.md) - [00857.HK](https://longbridge.com/en/quote/00857.HK.md) - [02800.HK](https://longbridge.com/en/quote/02800.HK.md) - [02828.HK](https://longbridge.com/en/quote/02828.HK.md) - [01024.HK](https://longbridge.com/en/quote/01024.HK.md) - [09988.HK](https://longbridge.com/en/quote/09988.HK.md) - [00700.HK](https://longbridge.com/en/quote/00700.HK.md) - [01347.HK](https://longbridge.com/en/quote/01347.HK.md) - [06809.HK](https://longbridge.com/en/quote/06809.HK.md) - [00883.HK](https://longbridge.com/en/quote/00883.HK.md) - [09888.HK](https://longbridge.com/en/quote/09888.HK.md) - [03690.HK](https://longbridge.com/en/quote/03690.HK.md) - [00981.HK](https://longbridge.com/en/quote/00981.HK.md) - [07709.HK](https://longbridge.com/en/quote/07709.HK.md) - [07747.HK](https://longbridge.com/en/quote/07747.HK.md) - [SSNGY.US](https://longbridge.com/en/quote/SSNGY.US.md) - [06869.HK](https://longbridge.com/en/quote/06869.HK.md) - [01888.HK](https://longbridge.com/en/quote/01888.HK.md) - [06088.HK](https://longbridge.com/en/quote/06088.HK.md) - [06166.HK](https://longbridge.com/en/quote/06166.HK.md) - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) - [LITE.US](https://longbridge.com/en/quote/LITE.US.md) - [COHR.US](https://longbridge.com/en/quote/COHR.US.md) - [GLW.US](https://longbridge.com/en/quote/GLW.US.md) - [01088.HK](https://longbridge.com/en/quote/01088.HK.md) - [09992.HK](https://longbridge.com/en/quote/09992.HK.md) - [300750.CN](https://longbridge.com/en/quote/300750.CN.md) - [81024.HK](https://longbridge.com/en/quote/81024.HK.md) - [BABA.US](https://longbridge.com/en/quote/BABA.US.md) - [89988.HK](https://longbridge.com/en/quote/89988.HK.md) - [HBBD.SG](https://longbridge.com/en/quote/HBBD.SG.md) - [TCEHY.US](https://longbridge.com/en/quote/TCEHY.US.md) - [80700.HK](https://longbridge.com/en/quote/80700.HK.md) - [HTCD.SG](https://longbridge.com/en/quote/HTCD.SG.md) - [TCTZF.US](https://longbridge.com/en/quote/TCTZF.US.md) - [688347.CN](https://longbridge.com/en/quote/688347.CN.md) - [688008.CN](https://longbridge.com/en/quote/688008.CN.md) - [HPCD.SG](https://longbridge.com/en/quote/HPCD.SG.md) - [600938.CN](https://longbridge.com/en/quote/600938.CN.md) - [80883.HK](https://longbridge.com/en/quote/80883.HK.md) - [89888.HK](https://longbridge.com/en/quote/89888.HK.md) - [BIDU.US](https://longbridge.com/en/quote/BIDU.US.md) - [83690.HK](https://longbridge.com/en/quote/83690.HK.md) - [MPNGY.US](https://longbridge.com/en/quote/MPNGY.US.md) - [HMTD.SG](https://longbridge.com/en/quote/HMTD.SG.md) - [HSMD.SG](https://longbridge.com/en/quote/HSMD.SG.md) - [688981.CN](https://longbridge.com/en/quote/688981.CN.md) - [SMSN.UK](https://longbridge.com/en/quote/SMSN.UK.md) - [601869.CN](https://longbridge.com/en/quote/601869.CN.md) - [603083.CN](https://longbridge.com/en/quote/603083.CN.md) - [NVD.DE](https://longbridge.com/en/quote/NVD.DE.md) - [601088.CN](https://longbridge.com/en/quote/601088.CN.md) - [HPPD.SG](https://longbridge.com/en/quote/HPPD.SG.md) - [HCCD.SG](https://longbridge.com/en/quote/HCCD.SG.md) - [03750.HK](https://longbridge.com/en/quote/03750.HK.md) ## Related News & Research - [Hedge Funds Launch Biggest Tech Stock Pullback In Over 10 Years— What's Going On?](https://longbridge.com/en/news/285067715.md) - [Marc Andreessen's custom AI prompt calls for blunt, aggressive answers](https://longbridge.com/en/news/285236675.md) - [Rocket Doctor AI Inc. GAAP EPS of $0.10, revenue of $1.73B](https://longbridge.com/en/news/285110335.md) - [I'm hearing skepticism that is keeping people out of tech stocks, says Jim Cramer](https://longbridge.com/en/news/285455238.md) - [Dan Ives Picks His Favorite Tech Stock Outside the Mag 7: Palantir](https://longbridge.com/en/news/285090881.md)