--- title: "Hong Kong Stocks Intraday | Three Major Indices Fluctuate and Weaken, Semiconductor Sector Plunges, AI Applications and POP MART Buck the Trend" type: "News" locale: "en" url: "https://longbridge.com/en/news/285652850.md" description: "During intraday trading on May 8, Hong Kong's three major indices fluctuated lower, with both the Hang Seng Index and the Hang Seng Tech Index falling more than 1%. Affected by the sharp drop in US chip stocks overnight and geopolitical risks, Hong Kong's semiconductor sector plunged collectively, with HUA HONG SEMI and SMIC seeing significant declines. Meanwhile, market funds showed a clear shift from high to low valuations and structural gaming. AI application concept stocks performed actively, with MEITU surging more than 14%; toy trend leader POP MART rose more than 5% against the trend, driven by position adjustments by well-known investors, with extremely active trading" datetime: "2026-05-08T02:33:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285652850.md) - [en](https://longbridge.com/en/news/285652850.md) - [zh-HK](https://longbridge.com/zh-HK/news/285652850.md) --- # Hong Kong Stocks Intraday | Three Major Indices Fluctuate and Weaken, Semiconductor Sector Plunges, AI Applications and POP MART Buck the Trend **Market Overview** ▪ During intraday trading in Hong Kong stocks, the three major indices fluctuated lower; ▪ The Hang Seng Index closed at 26,278.62 points, down 1.31%; ▪ The Hang Seng Tech Index closed at 5,064.04 points, down 1.11%; ▪ The Hang Seng China Enterprises Index closed at 8,844.10 points, down 0.85%. **Sector Performance and Hot Stocks** **Semiconductor Sector Plunges Collectively, Supply Chain Expectations Under Pressure** ▪ HUA HONG SEMI (01347.HK) fell 7.64% to HK$130.6; SMIC (00981.HK) fell 4.89% to HK$73; ▪ GigaDevice (03986.HK) fell 5.73%; Iluvatar CoreX (09903.HK) fell 7.79%; Montage Technology (06809.HK) fell 1.96%; ▪ Related leveraged ETFs also declined, with XL II South SK Hynix (07709.HK) down 4.34% and XL II South Samsung (07747.HK) down 8.70%. **AI Application Concepts Active, Valuation Reshaping Driven by Improved Monetization Capabilities** ▪ MEITU (01357.HK) surged 14.41% to HK$5.4; Maifushi (02556.HK) rose 11.56%; Baidu Group-SW (09888.HK) rose 3.28%; ▪ Xunce (03317.HK) rose 2.22% to HK$267.4. Its high-value scenario Tokens gained market recognition, driving a 300% quarter-on-quarter surge in ARR, leading major banks to significantly raise target prices and presenting an opportunity for structural revaluation. **POP MART Surges Against the Trend Amid Pursuit by Long-Term Capital** ▪ POP MART (09992.HK) rose 5.43% to HK$171, with turnover nearing HK$3 billion, ranking second in the entire market; ▪ Well-known investor Duan Yongping revealed he had cleared his position in China Shenhua to invest in this stock, triggering high market attention on the overseas expansion logic of the toy trend leader. **Lithium Battery New Energy and Some Financial Heavyweights Weaken** ▪ Tianqi Lithium (09696.HK) fell 5.07%, Ganfeng Lithium (01772.HK) fell 4.38%, and CATL (03750.HK) fell 1.05%; ▪ AIA (01299.HK) fell nearly 3%, and HSBC Holdings (00005.HK) fell 2.87%. **Macro Background** ▪ In terms of news, overseas tech mapping and geopolitical disturbances were the core factors dominating today's Hong Kong stock market trends. ▪ Regarding tech mapping, the US chip sector weakened across the board overnight, with the Philadelphia Semiconductor Index closing down nearly 3%. Although Arm reported strong Q1 earnings, market concerns about AI chip supply outweighed the optimistic guidance, causing its stock price to plunge 10%, directly cooling sentiment in the Hong Kong semiconductor industry chain. ▪ Regarding geopolitical disturbances, the prospects for a US-Iran ceasefire agreement are once again in doubt. Geopolitical risks continue to disrupt global semiconductor supply chain expectations, prompting short-term funds to take profits and switch to AI applications and consumer sub-sector leaders with stronger certainty (such as POP MART) for structural gaming. **Top 10 Market Turnover** ▪ Tencent Holdings (00700.HK) Latest price HK$471.60, down 1.21%, turnover HK$3.79 billion ▪ POP MART (09992.HK) Latest price HK$171.00, up 5.43%, turnover HK$2.98 billion ▪ Tracker Fund of Hong Kong (02800.HK) Latest price HK$26.46, down 1.12%, turnover HK$2.89 billion ▪ SMIC (00981.HK) Latest price HK$73.00, down 4.89%, turnover HK$2.76 billion ▪ Alibaba-W (09988.HK) Latest price HK$139.10, down 1.28%, turnover HK$2.48 billion ▪ China Southern Hang Seng TECH Index ETF (03033.HK) Latest price HK$4.966, down 0.88%, turnover HK$2.16 billion ▪ XL II South SK Hynix (07709.HK) Latest price HK$73.54, down 4.34%, turnover HK$1.92 billion ▪ HUA HONG SEMI (01347.HK) Latest price HK$130.60, down 7.64%, turnover HK$1.74 billion ▪ Kuaishou-W (01024.HK) Latest price HK$49.40, up 2.07%, turnover HK$1.44 billion ▪ Yangtze Optical Fibre and Cable (06869.HK) Latest price HK$231.00, down 0.77%, turnover HK$1.32 billion ### Related Stocks - 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