--- title: "Hong Kong Stock Market Review: The Hang Seng Index fell by 0.37%, while the Tech Index rose by 0.29%. The performance of tech stocks was mixed, with the semiconductor sector rising against the trend, while oil and gas stocks, as well as innovative drug concept stocks, remained sluggish" type: "News" locale: "en" url: "https://longbridge.com/en/news/289157944.md" description: "On June 9th, the three major Hong Kong stock indices fluctuated narrowly, with the Hang Seng Index falling by 0.37% and the Tech Index rising by 0.29%. The performance of technology stocks was mixed, with the semiconductor sector rising against the trend, while the oil and gas and innovative drug concepts remained sluggish. Real estate stocks Yuexiu and Poly announced sales data for the first five months; Jinhui Holdings plans to acquire a ship, Consun Pharma intends to acquire equity, GF Securities plans to issue bonds, China Newcity aims to develop an AI data center, and China Hongqiao received an increase in holdings from its controlling shareholder" datetime: "2026-06-09T08:25:39.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/289157944.md) - [en](https://longbridge.com/en/news/289157944.md) - [zh-HK](https://longbridge.com/zh-HK/news/289157944.md) --- # Hong Kong Stock Market Review: The Hang Seng Index fell by 0.37%, while the Tech Index rose by 0.29%. The performance of tech stocks was mixed, with the semiconductor sector rising against the trend, while oil and gas stocks, as well as innovative drug concept stocks, remained sluggish On June 9th, the three major indices of the Hong Kong stock market fluctuated within a narrow range throughout the day, with mixed closing trends. The Hang Seng Index fell by 0.37% to close at 24,565.9 points, the Hang Seng TECH Index rose by 0.29% to 4,769.61 points, the Hang Seng China Enterprises Index dropped by 0.2% to 8,324.59 points, and the Red Chip Index increased by 0.08% to 4,339.05 points. In the market, large technology stocks showed mixed performance. Alibaba fell by 1.43%, Tencent Holdings rose by 1.52%, JD Group increased by 0.44%, Xiaomi Group dropped by 0.66%, NetEase fell by 0.21%, Meituan rose by 1.25%, Kuaishou increased by 0.45%, and Bilibili fell by 2.92%. The semiconductor (core stocks) sector rose against the trend, with Tianxu Zhixin increasing by over 11%. Oil and gas stocks were sluggish, with Shandong Molong dropping by over 17%. Innovative drug concept stocks weakened, with WuXi AppTec falling by over 3%. **Individual Stock Dynamics** Yuexiu Property (00123.HK): Cumulative contract sales for the first five months totaled 37.014 billion yuan, a year-on-year decrease of approximately 27.0%. Sales in May were 11.303 billion yuan, a year-on-year increase of approximately 18.0%. Poly Property Group (00119.HK): Cumulative contract sales for the first five months totaled 19.6 billion yuan, a year-on-year decrease of 10.09%. Sales in May were 4.3 billion yuan, a year-on-year increase of 10.26%. Jieli Trading Treasure (08017.HK): Four new institutional clients were added in May; the number of registered users was approximately 910,900, a year-on-year increase of 6.7%; the number of users registered for new share subscriptions was approximately 119,500, a year-on-year increase of 10.3%. Jinhui Holdings (00137.HK): Two subsidiaries plan to invest a total of 68 million USD to acquire two vessels (core stocks). ConSun Pharma (01681.HK): Plans to acquire a 30% stake in Shanghai Huamao Pharmaceutical Co., Ltd. QingSong Health (02661.HK): A subsidiary signed a health management service cooperation agreement with Yingda Taihe Life Insurance. GF Securities (01776.HK): Plans to issue corporate bonds not exceeding 6 billion yuan. China New City (01321.HK): Plans to develop and construct an artificial intelligence data center project in France. China Hongqiao (01378): Received an increase of 21 million shares from the controlling shareholder China Hongqiao Holdings, at an average price of approximately 26.4641 HKD. AIA Group (01299.HK): Spent approximately 680 million HKD to repurchase 9.352 million shares, with a repurchase price of 71.95-74 HKD. Tencent Holdings (00700.HK): Spent 501 million HKD to repurchase 1.116 million shares, with a repurchase price of 443.4-457.6 HKD. Li Auto-W (02015.HK): Spent 150 million HKD to repurchase 2.6267 million shares, with a repurchase price of 57.09 HKD. WuXi AppTec (02359.HK): Spent 110 million HKD to repurchase 912,600 shares, with a repurchase price of 119.2-123.8 HKD Chuangfeng Holdings (02285.HK): Plans to repurchase company shares with a total value of up to HKD 150 million. SF Technology (09699.HK): Plans to repurchase up to HKD 400 million of H shares, which will be canceled in due course. The company intends to use its own funds to cover the costs of the proposed share repurchase. **Institutional Strategies** Huatai Securities: Against the backdrop of emerging overseas liquidity risks, from a short-term perspective, it is recommended to focus on varieties that have experienced heavy short-selling pressure during previous adjustments, while profit expectations stabilize, such as consumer discretionary, media (core stocks), and high-dividend defensive varieties, such as banks (core stocks). For the AI hardware chain, the firm believes that there are currently no strong absolute return and excess return conditions, with the next key window being the U.S. earnings season in July. CICC: In the first half of 2026, global markets are heading towards extreme differentiation, with the core main line being only AI technology. Behind this structural market is a reflection of the "K-shaped differentiation" of the credit cycle between China and the U.S., where technology is strong but domestic demand is weak. Looking ahead to the second half of the year, whether the "K-shaped differentiation" structural market continues or reverses fundamentally depends on two things: first, how far the technology trend can go, and second, whether there are external variables that could interrupt it. In terms of allocation strategy, technology remains the main line, and crowding is not a reason for reversal; U.S. Treasuries have both winning probability and odds, with high winning probability for the AI main line and high odds for the Hang Seng TECH. Orient Securities: In May, the growth rate of excavator sales exceeded expectations, and exports continued to maintain rapid growth, reflecting sustained high prosperity in exports. The firm believes that the competitiveness of Chinese construction machinery companies going overseas continues to strengthen, reflecting high efficiency in domestic manufacturing and operations, with minimal impact from exchange rates. Additionally, recent product prices have gradually increased, which the firm believes will also benefit long-term profitability improvement. The firm continues to be optimistic about investment opportunities in construction machinery going overseas. Citi Research: The price increase of electronic glass fabric has exceeded expectations and will soon (expected by the end of this month) translate into inflation in the average selling price of copper-clad laminates (CCL). The rise in copper-clad laminate prices is mainly driven by costs, with major cost components including copper, electronic glass fabric, and epoxy resin. 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