--- title: "Hong Kong Stock Market Midday Review | Three major indices collectively decline, SMIC rises over 4% against the trend after earnings, semiconductor and pharmaceutical sectors plummet" type: "News" locale: "en" url: "https://longbridge.com/en/news/286505882.md" description: "On May 15th, at the midday close, the three major indices of the Hong Kong stock market collectively weakened, with the Hang Seng Tech Index falling over 1%. On the market, the semiconductor sector showed significant divergence, with SMIC surging over 4% against the trend due to strong performance and second-quarter guidance, while third-generation semiconductors and Korean chip leveraged ETFs plummeted sharply. In addition, boosted by expectations of mass production of humanoid robots, AI application concept stocks such as UBTECH performed actively; on the other hand, pharmaceutical and some technology heavyweight stocks declined simultaneously, with market risk aversion sentiment significantly rising" datetime: "2026-05-15T04:13:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286505882.md) - [en](https://longbridge.com/en/news/286505882.md) - [zh-HK](https://longbridge.com/zh-HK/news/286505882.md) --- # Hong Kong Stock Market Midday Review | Three major indices collectively decline, SMIC rises over 4% against the trend after earnings, semiconductor and pharmaceutical sectors plummet **Market Overview** ▪ The Hong Kong stock market closed lower at midday, with all three major indices declining; ▪ The Hang Seng Index closed at 26,160.03 points, down 0.87%; ▪ The Hang Seng Tech Index closed at 5,012.55 points, down 1.25%; ▪ The China Enterprises Index closed at 8,759.97 points, down 1.11%. **Sector Performance and Hot Stocks** **SMIC's Strong Guidance Catalyzes Semiconductor Sector to Lead Gains Against the Trend** ▪ Semiconductor Manufacturing International Corporation (00981.HK) surged 4.20% to HKD 74.5, with half-day trading exceeding HKD 8.2 billion. The company reported an 11% year-on-year revenue growth in the first quarter, with strong guidance for the second quarter, maintaining an "Overweight" rating from Morgan Stanley; ▪ Gigadevice Semiconductor (03986.HK) rose 3.15% to HKD 541. **AI Application Concepts Active, Humanoid Robots in High Demand** ▪ UBTECH Robotics (09880.HK) rose 6.92% to HKD 114.4; XunCe (03317.HK) rose 4.36%; ▪ Zhiyuan (02513.HK) rose 1.47%, Horizon Robotics-W (09660.HK) rose 1.12%. The expectation of Tesla's humanoid robot production and a more than 40% increase in global computing power rental prices continue to boost demand on the application side. **Semiconductor Upstream and Overseas Chip Leveraged ETFs Plunge** ▪ TianYue Advanced (02631.HK) plummeted 10.10% to HKD 115.7; InnoCare Pharma (02577.HK) fell 7.08%; ▪ HuaHong Semiconductor (01347.HK) fell 3.78%, Lanqi Technology (06809.HK) fell 2.82%; ▪ Related leveraged ETFs collectively plummeted, with Southern Double Long Samsung Electronics (07747.HK) down 9.03% and Southern Double Long SK Hynix (07709.HK) down 8.99%. **Pharmaceuticals and Some Tech Stocks Generally Weakened** ▪ Kintor Pharmaceutical-B (02171.HK) plummeted 10.40%, Alibaba Health (00241.HK) fell 6.39%, Innovent Biologics (01801.HK) fell 5.25%; ▪ Bilibili-W (09626.HK) fell 6.65%, Mao Geping (01318.HK) fell 6.53%, Alibaba-W (09988.HK) fell 2.32%. **Macroeconomic Background** ▪ On the news front, there is a significant divergence between the fundamentals and valuation logic within the semiconductor industry chain. On the industrial side, SMIC's high capacity utilization and price increase trend reflect the strong resilience of the domestic AI GPU supply chain; meanwhile, the approaching mass production of Tesla's robots, combined with a more than 40% increase in computing power rental prices, has directly ignited speculation around AI applications and their implementation. ▪ In terms of macroeconomics and liquidity, the overnight yield on the U.S. 30-year Treasury bond broke 5%, marking the first time since 2007. The strong rise in long-term interest rates has significantly suppressed risk appetite for high-valuation sectors, leading to large-scale profit-taking in previously high-performing semiconductor upstream material stocks and overseas chip leveraged ETFs **Market Trading Volume TOP10** ▪ Yingfu Fund (02800.HK) Latest trading price HKD 26.34, down 0.83%, trading volume HKD 12.2 billion ▪ SMIC (00981.HK) Latest trading price HKD 74.50, up 4.20%, trading volume HKD 8.2 billion ▪ Southern Hang Seng Technology (03033.HK) Latest trading price HKD 4.898, down 1.25%, trading volume HKD 6 billion ▪ Tencent Holdings (00700.HK) Latest trading price HKD 457.80, up 0.64%, trading volume HKD 5.9 billion ▪ Alibaba-W (09988.HK) Latest trading price HKD 134.70, down 2.32%, trading volume HKD 4.6 billion ▪ Hua Hong Semiconductor (01347.HK) Latest trading price HKD 122.20, down 3.78%, trading volume HKD 4.4 billion ▪ Southern Double Long SK Hynix (07709.HK) Latest trading price HKD 95.56, down 8.99%, trading volume HKD 3.9 billion ▪ Hang Seng China Enterprises (02828.HK) Latest trading price HKD 89.82, down 1.08%, trading volume HKD 3.8 billion ▪ Changfei Fiber Optic Cable (06869.HK) Latest trading price HKD 234.20, down 7.72%, trading volume HKD 2.1 billion ▪ Xiaomi Group-W (01810.HK) Latest trading price HKD 31.08, down 2.02%, trading volume HKD 1.9 billion ### Related Stocks - 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