--- title: "Hong Kong Stocks Intraday: Three Major Indices Fluctuate and Decline, Semiconductor Sector Stumbles, AI Infrastructure Breaks Through Against the Trend" type: "News" locale: "en" url: "https://longbridge.com/en/news/285674490.md" description: "In the afternoon of May 8, Hong Kong's three major indices fluctuated lower. Rising US Treasury yields and wait-and-see sentiment ahead of the non-farm payrolls data suppressed market risk appetite, leading to a collective pullback in semiconductors and large-cap Majority Stake stocks. Capital showed clear risk-averse and structural switching logic: the optical communication sector, catalyzed by Nvidia, and gold resource stocks supported by central bank purchases remained resilient, while high-performing consumer leaders like Pop Mart attracted huddling together for warmth from investors amidst the weakness" datetime: "2026-05-08T06:33:04.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285674490.md) - [en](https://longbridge.com/en/news/285674490.md) - [zh-HK](https://longbridge.com/zh-HK/news/285674490.md) --- # Hong Kong Stocks Intraday: Three Major Indices Fluctuate and Decline, Semiconductor Sector Stumbles, AI Infrastructure Breaks Through Against the Trend **Market Overview** ▪ Hong Kong stocks continued their weak performance in the afternoon, with the three major indices fluctuating 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 SOE Index closed at 8,844.10 points, down 0.85%. **Sector Performance and Hot Stocks** **Semiconductor Sector Plunges Across the Board, Valuations Under Continuous Pressure in High-Interest Rate Environment** ▪ HUA HONG SEMI (01347.HK) fell 9.97% to HK$127.3; SMIC (00981.HK) fell 5.41% to HK$72.6; ▪ GigaDevice (03986.HK) fell 6.65%; Montage Technology (06809.HK) fell 4.64%; ▪ Affected by the violent fluctuations in overseas tech stocks, market divergence emerged regarding the short-term earnings recovery slope of the foundry segment, causing earlier profit-taking chips to exit rapidly amid the volatility. **Optical Communication Sector Strengthens Against the Trend Driven by Catalysts, AI Hardware Demand Spills Over from Computing to Connectivity** ▪ YOFC (06869.HK) surged 4.73% to HK$243.8; Cambridge Industries Group (06166.HK) rose 2.58%; ▪ Nvidia CEO Jensen Huang's assertion that "optical connectivity is core to AI infrastructure" has reignited market expectations for accelerated profit release in the fiber optic cable and optical module segments, highlighting the sector's overall resilience. **Gold and Resource Stocks Rise Moderately, Global Central Bank Allocation Demand Provides Solid Support** ▪ Zijin Gold International (02259.HK) rose 3.45%; Zijin Mining (02899.HK) rose 1.36%; CMOC Group (03993.HK) rose 1.42%; ▪ As the People's Bank of China continues to increase its gold reserves for the 18th consecutive month, coupled with global physical gold ETF funds turning into net inflows, the allocation preference of risk-averse capital towards resource-related Majority Stake stocks remains dominant. **Consumer Internet and Select Stocks Show Active Performance** ▪ Pop Mart (09992.HK) rose 3.45% to HK$167.8; Kuaishou-W (01024.HK) rose 2.69%; Baidu Group-SW (09888.HK) rose 4.08%; ▪ Health 160 (02656.HK) skyrocketed over 49% in the afternoon; Meitu (01357.HK) rose nearly 9%. **Macro Background** ▪ Rising Expectations of Liquidity Tightening: The overnight 30-Year Treasury Yield once again broke through the key 5% level, which not only suppressed risk appetite for global growth stocks but also caused the Hong Kong market, highly sensitive to discount rates, to undergo another liquidity pricing adjustment. ▪ Gaming Ahead of Key Data Release: With the US April non-farm payrolls data due tonight, market concerns that an overheated labor market could further delay the Federal Reserve's rate cut timing led long-position capital to significantly reduce exposures in the afternoon to avoid potential volatility. ▪ Structural Shift in AI Investment Logic: Capital is gradually shifting from the single concept of chip foundries to AI downstream applications with higher certainty (such as Meitu and Baidu) and physical layer infrastructure (such as YOFC), reflecting the market's extreme pursuit of "earnings realization" in a weak pattern. **Top 10 Market Turnover** ▪ Tracker Fund of Hong Kong (02800.HK) Last traded at HK$26.46, down 1.12%, turnover HK$8.9 billion ▪ Tencent Holdings (00700.HK) Last traded at HK$470.00, down 1.55%, turnover HK$8.0 billion ▪ CSOP Hang Seng TECH Index ETF (03033.HK) Last traded at HK$4.948, down 1.24%, turnover HK$7.8 billion ▪ Hang Seng China Enterprises Index ETF (02828.HK) Last traded at HK$90.88, down 0.57%, turnover HK$6.1 billion ▪ SMIC (00981.HK) Last traded at HK$72.60, down 5.41%, turnover HK$6.0 billion ▪ Pop Mart (09992.HK) Last traded at HK$167.80, up 3.45%, turnover HK$5.8 billion ▪ Alibaba-W (09988.HK) Last traded at HK$138.30, down 1.85%, turnover HK$5.4 billion ▪ HUA HONG SEMI (01347.HK) Last traded at HK$127.30, down 9.97%, turnover HK$5.3 billion ▪ YOFC (06869.HK) Last traded at HK$243.80, up 4.73%, turnover HK$4.2 billion ▪ XL II CSOP SK Hynix (07709.HK) Last traded at HK$78.18, up 1.69%, turnover HK$4.2 billion ### Related Stocks - [01347.HK](https://longbridge.com/en/quote/01347.HK.md) - [06869.HK](https://longbridge.com/en/quote/06869.HK.md) - [02824.HK](https://longbridge.com/en/quote/02824.HK.md) - [GDXU.US](https://longbridge.com/en/quote/GDXU.US.md) - [JNUG.US](https://longbridge.com/en/quote/JNUG.US.md) - [SGDM.US](https://longbridge.com/en/quote/SGDM.US.md) - [518850.CN](https://longbridge.com/en/quote/518850.CN.md) - [SGDJ.US](https://longbridge.com/en/quote/SGDJ.US.md) - [GDXJ.US](https://longbridge.com/en/quote/GDXJ.US.md) - [09824.HK](https://longbridge.com/en/quote/09824.HK.md) - [NUGT.US](https://longbridge.com/en/quote/NUGT.US.md) - [RING.US](https://longbridge.com/en/quote/RING.US.md) - [02800.HK](https://longbridge.com/en/quote/02800.HK.md) - [02828.HK](https://longbridge.com/en/quote/02828.HK.md) - [03033.HK](https://longbridge.com/en/quote/03033.HK.md) - [00700.HK](https://longbridge.com/en/quote/00700.HK.md) - [09988.HK](https://longbridge.com/en/quote/09988.HK.md) - [03690.HK](https://longbridge.com/en/quote/03690.HK.md) - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) - [GLW.US](https://longbridge.com/en/quote/GLW.US.md) - [09992.HK](https://longbridge.com/en/quote/09992.HK.md) - [01024.HK](https://longbridge.com/en/quote/01024.HK.md) - [00981.HK](https://longbridge.com/en/quote/00981.HK.md) - [688008.CN](https://longbridge.com/en/quote/688008.CN.md) - [603986.CN](https://longbridge.com/en/quote/603986.CN.md) - [06166.HK](https://longbridge.com/en/quote/06166.HK.md) - [06886.HK](https://longbridge.com/en/quote/06886.HK.md) - [601688.CN](https://longbridge.com/en/quote/601688.CN.md) - [02259.HK](https://longbridge.com/en/quote/02259.HK.md) - [02899.HK](https://longbridge.com/en/quote/02899.HK.md) - [601899.CN](https://longbridge.com/en/quote/601899.CN.md) - [03993.HK](https://longbridge.com/en/quote/03993.HK.md) - [603993.CN](https://longbridge.com/en/quote/603993.CN.md) - [09888.HK](https://longbridge.com/en/quote/09888.HK.md) - [01299.HK](https://longbridge.com/en/quote/01299.HK.md) - [02656.HK](https://longbridge.com/en/quote/02656.HK.md) - [002865.CN](https://longbridge.com/en/quote/002865.CN.md) - [01357.HK](https://longbridge.com/en/quote/01357.HK.md) - [07709.HK](https://longbridge.com/en/quote/07709.HK.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) - [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) - [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) - [688347.CN](https://longbridge.com/en/quote/688347.CN.md) - [NVD.DE](https://longbridge.com/en/quote/NVD.DE.md) - [HPPD.SG](https://longbridge.com/en/quote/HPPD.SG.md) - [81024.HK](https://longbridge.com/en/quote/81024.HK.md) - [HSMD.SG](https://longbridge.com/en/quote/HSMD.SG.md) - [688981.CN](https://longbridge.com/en/quote/688981.CN.md) - [06809.HK](https://longbridge.com/en/quote/06809.HK.md) - [03986.HK](https://longbridge.com/en/quote/03986.HK.md) - [601869.CN](https://longbridge.com/en/quote/601869.CN.md) - [603083.CN](https://longbridge.com/en/quote/603083.CN.md) - [HTSC.UK](https://longbridge.com/en/quote/HTSC.UK.md) - [89888.HK](https://longbridge.com/en/quote/89888.HK.md) - [BIDU.US](https://longbridge.com/en/quote/BIDU.US.md) - [81299.HK](https://longbridge.com/en/quote/81299.HK.md) - [AAGIY.US](https://longbridge.com/en/quote/AAGIY.US.md) - [02865.HK](https://longbridge.com/en/quote/02865.HK.md) ## Related News & Research - [LIVE MARKETS-In gold, we trust?](https://longbridge.com/en/news/285521171.md) - [K.J. Harrison & Partners Inc Sells 6,800 Shares of Agnico Eagle Mines Limited $AEM](https://longbridge.com/en/news/285539365.md) - [International Tower Hill Mines Files 2026 First Quarter Financial Results | THM Stock News](https://longbridge.com/en/news/285773639.md) - [Swedbank AB Decreases Holdings in Newmont Corporation $NEM](https://longbridge.com/en/news/285530631.md) - [SNAPSHOT-Vietnam dong, gold rates - May 8](https://longbridge.com/en/news/285656557.md)