--- title: "HK Stocks Close | Major Indices Diverge, Semiconductor Sector Surges, GigaDevice Jumps Nearly 17%" type: "News" locale: "en" url: "https://longbridge.com/en/news/287029066.md" description: "As HK stocks closed on May 20, the broader market trended weaker amid soaring global long-term bond yields and developments among tech giants. The three major indices showed divergent performance, with the Hang Seng Tech Index bucking the trend to edge up 0.34%. On the trading floor, the semiconductor sector exploded collectively under multiple positive catalysts, with SMIC recording over HK$18.8 billion in turnover, while HUA HONG SEMI and GigaDevice both posted double-digit gains. Additionally, Alibaba's release of its self-developed AI chip spurred activity in computing power concepts, whereas gold resource stocks and certain tech majority stake stocks generally pulled back under pressure from the high-interest-rate environment" datetime: "2026-05-20T08:13:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/287029066.md) - [en](https://longbridge.com/en/news/287029066.md) - [zh-HK](https://longbridge.com/zh-HK/news/287029066.md) --- # HK Stocks Close | Major Indices Diverge, Semiconductor Sector Surges, GigaDevice Jumps Nearly 17% **Market Overview** ▪ HK stocks closed with significant divergence among the three major indices; ▪ The Hang Seng Index closed at 25,651.120 points, down 0.57%; ▪ The Hang Seng Tech Index closed at 4,873.820 points, up 0.34%; ▪ The SOE Index closed at 8,605.130 points, down 0.40%. **Sector Performance and Hot Stocks** **Semiconductor Sector Surges Collectively, Entire Supply Chain Strengthens** ▪ GigaDevice (03986.HK) jumped 16.86% to close at HK$703.5; HUA HONG SEMI (01347.HK) surged 14.15% to close at HK$133.1; ▪ SMIC (00981.HK) rose 9.49% to close at HK$75.0, with full-day turnover reaching HK$18.9 billion; ▪ Tianyue Advanced (02631.HK) rose 7.49%, and Montage Technology (06809.HK) rose 5.10%. **AI Chips and Computing Power Concepts Active, Hardware Ecosystem Continues to Expand** ▪ Shanghai Electric (02727.HK) rose 7.36% to close at HK$5.25; Kingboard Laminates (01888.HK) rose 4.87%; Lenovo Group (00992.HK) rose 3.70%. ▪ In terms of news, Alibaba Cloud officially released its self-developed AI chip "Zhenwu M890" and its flagship model Qwen3.7-Max, further boosting market expectations for computing power hardware. **Gold and Resource Stocks Under Pressure, Pulling Back** ▪ Lao Pu Gold (06181.HK) fell 8.22% to close at HK$489.2; ▪ Zijin Gold International (02259.HK) fell 4.81%, and Zijin Mining (02899.HK) fell 2.10%. **Most Tech Majority Stake Stocks and Auto Stocks Closed Lower** ▪ Bilibili (09626.HK) fell 4.93%, Kuaishou-W (01024.HK) fell 2.82%; ▪ Alibaba-W (09988.HK) and Tencent Holdings (00700.HK) both fell 0.83%; ▪ BYD Company (01211.HK) fell 3.89%. **Significant Volatility in Small-Cap Stocks** ▪ Topcnc (07688.HK) skyrocketed 81.89% to close at HK$48.0; Haichang Ocean Park (02255.HK) rose 19.18%; Wuyi Shijie (06651.HK) rose 12.66%. **Macro Background** ▪ Global AI Capex Boom: Intel's CEO disclosed that the yield rate for its 18A process is steadily improving. Coupled with Alibaba Cloud's release of its self-developed AI chip, and massive AI plans by OpenAI and NVIDIA landing in Singapore, the construction of global computing power infrastructure continues to accelerate, providing strong earnings guidance and sentiment support for the semiconductor and computing power sectors. The market is highly focused on NVIDIA's Q1 earnings report this Thursday. ▪ Pressure from High Macro Interest Rates: Global long-term bond yields continue to climb, with the US 30-year Treasury yield hitting a high of 5.20% (a new high since 2007). Hawkish statements from Federal Reserve officials have intensified market concerns about the "end of the era of cheap money." The high-interest-rate environment has directly dampened rate cut expectations, exerting clear pressure on precious metal pricing (gold pullback) and high-valuation growth stocks (tech majority stake stocks and new energy vehicles). **Top 10 Market Turnover** ▪ SMIC (00981.HK) Latest price HK$75.00, up 9.49%, turnover HK$18.9 billion ▪ Tracker Fund of Hong Kong (02800.HK) Latest price HK$25.82, down 0.62%, turnover HK$13.2 billion ▪ Hang Seng China Enterprises Index ETF (02828.HK) Latest price HK$88.26, down 0.52%, turnover HK$9.0 billion ▪ Tencent Holdings (00700.HK) Latest price HK$456.20, down 0.83%, turnover HK$7.9 billion ▪ Alibaba-W (09988.HK) Latest price HK$132.20, down 0.83%, turnover HK$7.9 billion ▪ CSOP Hang Seng TECH Index ETF (03033.HK) Latest price HK$4.766, up 0.13%, turnover HK$7.4 billion ▪ HUA HONG SEMI (01347.HK) Latest price HK$133.10, up 14.15%, turnover HK$7.3 billion ▪ CSOP 2X Daily Leveraged SK Hynix ETF (07709.HK) Latest price HK$81.64, up 0.62%, turnover HK$6.7 billion ▪ Xiaomi Corporation-W (01810.HK) Latest price HK$30.08, down 1.83%, turnover HK$3.0 billion ▪ Zijin Mining (02899.HK) Latest price HK$32.70, down 2.10%, turnover HK$3.0 billion ### Related Stocks - 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