---
title: "Title: Hong Kong Stock Market Intraday | Three Major Indices Fluctuate Lower, SMIC Rises Against the Trend After Earnings, Gold and Resource Stocks Plunge Collectively"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286497331.md"
description: "On the morning of May 15th, affected by the general pullback of Chinese concept stocks overnight, the three major indices of the Hong Kong stock market collectively declined, with the Hang Seng Tech Index falling over 1.6%. The market showed a sharp divergence: Semiconductor Manufacturing International Corporation attracted capital against the trend due to its better-than-expected first-quarter performance and strong second-quarter guidance, maintaining its position at the top of the trading volume list; however, third-generation semiconductor stocks saw significant declines. Meanwhile, influenced by the better-than-expected U.S. PPI data and rising interest rate expectations, the strong U.S. dollar continued to suppress commodity pricing, leading to a collective pullback in gold and resource stocks; large-cap tech stocks exhibited mixed performance"
datetime: "2026-05-15T02:33:05.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286497331.md)
  - [en](https://longbridge.com/en/news/286497331.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286497331.md)
---

# Title: Hong Kong Stock Market Intraday | Three Major Indices Fluctuate Lower, SMIC Rises Against the Trend After Earnings, Gold and Resource Stocks Plunge Collectively

**Market Overview**

▪ During the trading session, the three major indices of the Hong Kong stock market collectively weakened;

▪ The Hang Seng Index closed at 26,126.000 points, down 1.00%;

▪ The Hang Seng Tech Index closed at 4,991.050 points, down 1.68%;

▪ The State-Owned Enterprises Index closed at 8,749.670 points, down 1.23%.

**Sector Performance and Popular Stocks**

**The semiconductor sector experienced sharp differentiation, with SMIC leading the rise against the trend due to performance catalysts**

▪ Semiconductor Manufacturing International Corporation (00981.HK) rose 1.89% to HKD 72.85, with a trading volume of approximately HKD 5.5 billion, ranking first in the market. The company's revenue in the first quarter increased by 8.1% year-on-year, and the revenue guidance for the second quarter is expected to grow by 14% to 16% quarter-on-quarter, with a high capacity utilization rate, strong fundamentals recognized by investors.

▪ Most semiconductor stocks declined, with Hua Hong Semiconductor (01347.HK) down 6.77%; Tianyue Advanced (02631.HK) plummeting over 10%; and Innovent Biologics (02577.HK) down 8.35%.

**Large tech stocks showed mixed performance, overall pressured by external sentiment**

▪ Tencent Holdings (00700.HK) rose 1.17% against the trend, closing at HKD 460.2, with a trading volume of nearly HKD 3 billion.

▪ Alibaba Group Holding Limited (09988.HK) fell 2.18%, continuing its adjustment after a spike following earnings yesterday; Meituan-W (03690.HK) fell 2.68%; Kuaishou-W (01024.HK) fell 1.83%.

**Gold and resource stocks collectively corrected**

▪ Zijin Mining (02899.HK) fell 3.82% to HKD 35.8;

▪ Zhaojin Mining Industry (01818.HK) fell 3.00% to HKD 24.54;

▪ Luoyang Molybdenum (03993.HK) fell 2.88% to HKD 19.25.

**Other Sector Performance**

▪ Lens Technology (06613.HK) rose over 5%, Xunqi (03317.HK) rose 3.65%, and WuXi Biologics (02269.HK) rose 2%.

▪ The biopharmaceutical sector was generally weak, with Kintor Pharmaceutical-B (02171.HK) down nearly 9% and Innovent Biologics (01801.HK) down over 6%.

**Macroeconomic Background**

▪ Inflation and interest rate hike expectations surged: The U.S. April PPI rose sharply by 6% year-on-year, and the core PPI increased by 5.2% year-on-year, both far exceeding market expectations. Following the data release, the market now estimates the probability of a 25 basis point rate hike by the Federal Reserve within the year has surged to about 50%. The strong dollar logic puts significant pressure on precious metals and resource prices.

▪ External market reflection: Overnight, U.S. stocks with Chinese concepts generally saw significant corrections, with the Nasdaq Golden Dragon China Index closing down 3.3%, directly dragging down the overall risk appetite and tech stock performance at the opening of the Hong Kong stock market today.

▪ Policy transition point: The outgoing Federal Reserve Chairman Jerome Powell will officially hand over to Christopher Waller today, and the transition and continuity of monetary policy have also triggered a wait-and-see sentiment in the short-term market

### Related Stocks

- [01347.HK](https://longbridge.com/en/quote/01347.HK.md)
- [688347.CN](https://longbridge.com/en/quote/688347.CN.md)
- [00981.HK](https://longbridge.com/en/quote/00981.HK.md)
- [688981.CN](https://longbridge.com/en/quote/688981.CN.md)

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