--- title: "Hong Kong Stock Midday Review: The Hang Seng Index fell 1.13%, and the Tech Index fell 2.21%, both hitting new lows for the period. Pharmaceutical stocks rose against the trend, while technology stocks, gold, and artificial intelligence concept stocks declined" type: "News" locale: "en" url: "https://longbridge.com/en/news/290509928.md" description: "The Hong Kong stock market midday review on June 23 shows that the Hang Seng Index fell by 1.13% and the Tech Index fell by 2.21%, both hitting new lows for the period. Technology stocks broadly declined, while pharmaceutical stocks rose against the trend, and gold and AI concept stocks fell. In terms of new stocks, HJ Science fell sharply by 46% on its first day, while SENIOR MATERIAL rose by over 30%. Individual stock updates include CCB issuing 30 billion capital bonds, REGINA MIRACLE issuing a profit warning, and CHINA HK POWER issuing a profit alert" datetime: "2026-06-23T04:25:39.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/290509928.md) - [en](https://longbridge.com/en/news/290509928.md) - [zh-HK](https://longbridge.com/zh-HK/news/290509928.md) --- # Hong Kong Stock Midday Review: The Hang Seng Index fell 1.13%, and the Tech Index fell 2.21%, both hitting new lows for the period. Pharmaceutical stocks rose against the trend, while technology stocks, gold, and artificial intelligence concept stocks declined On June 23, the three major Hong Kong stock indices opened higher but fluctuated downward, with low-level oscillations before noon. By the end of the morning session, the Hang Seng Index fell 1.13% to 23,500.21 points, the Hang Seng TECH Index dropped 2.21% to 4,448.93 points, and the National Enterprises Index decreased 1.2% to 7,819.7 points, all three hitting new recent adjustment lows; the Red Chip Index fell 1.34% to 3,906.49 points. On the market, large technology stocks fell broadly, with Alibaba down 3.01%, Tencent Holdings down 3.65%, JD Group down 4.65%, Xiaomi Group down 3.79%, NetEase down 1.74%, Meituan down 3.06%, Kuaishou down 3.65%, and Bilibili down 4.83%; pharmaceutical (core stocks) were active against the trend, with Shandong Xinhua Pharmaceutical Co., Ltd. rising over 11%; gold stocks continued to decline, with Zijin Mining International falling nearly 6%; the artificial intelligence sector collectively dropped, with Zhizhu falling over 11%. Two new stocks were listed today, with HJ SCIENCE-B plunging 46% on its first day and SENIOR MATERIAL rising over 30%. **Individual Stock Dynamics** China Aircraft Leasing (01848.HK): Plans to purchase sixteen aircraft. The announcement stated that the company's two wholly-owned special purpose entities have entered into agreements with the seller China Aircraft Global Limited, with the transaction expected to be completed on or before June 24, 2026. REGINA MIRACLE (02199.HK): Issued a profit warning, expecting a year-on-year increase of no less than 45% in consolidated net profit attributable to shareholders for the year ending March 31, 2026, mainly due to a significant increase in profits from the joint venture (Victoria's Secret China). Nanxuan Holdings (01982.HK): For the year ending March 31, 2026, revenue is approximately HKD 4.6234 billion, a year-on-year increase of 6.2%; net profit is approximately HKD 300 million, a year-on-year decrease of 12.2%. CHINA HK POWER (00931.HK): Issued a profit warning, expecting a loss of approximately HKD 130 million to HKD 160 million for the year ending March 31, 2026. Hopson Development Holdings (01813.HK): Requested a further extension of the hearing to December 14. CCB (core stock) (00939.HK): Completed the issuance of HKD 30 billion perpetual capital bonds. HuaiBei Green Gold Co., Ltd. (02450.HK): Is planning to conduct business cooperation for a marble mine project located in Henan Province. Kejia Pharmaceutical-B (02171.HK): The National Medical Products Administration approved the new drug listing application for Claudin18.2 CAR-T cell therapy product Kailimei®. Kangzheng Pharmaceutical (00867.HK): The application for the listing permit of the Class 1 new drug recombinant fully human bispecific antibody for rabies virus, Slewemi Monoclonal Antibody Injection, has been approved in China. Shiyao Group (01093.HK): Its subsidiary Shiyao Innovation has submitted its latest listing application to the Stock Exchange Beisen Holdings (09669.HK): Plans to repurchase HKD 150 million to 200 million of its own shares. Tencent Holdings (00700.HK): Spent HKD 500.6 million to repurchase 1.154 million shares at a repurchase price of HKD 428.6-438. Xiaomi Group-W (01810.HK): Spent approximately HKD 152 million to repurchase 6.42 million shares at a repurchase price of HKD 23.6-23.78. Li Auto-W (02015.HK): Spent approximately HKD 49.9625 million to repurchase 990,900 shares at a repurchase price of HKD 49.82-50.75. **Institutional Strategies** Huatai Securities: For Hong Kong stocks overall, the central reversal still depends on the progress of major AI companies and the catalyst of consumer recovery. It is currently not the right time, but the short-term technical rebound previously expected by the firm has also been suppressed by the ever-increasing short-selling power, showing obvious characteristics of a "one-day tour" rebound. Looking ahead, short-term attention should be paid to high short-selling and marginal improvement in profit expectations for sectors such as media (core stocks) and innovative drugs. Guosheng Securities: In terms of securities, the A-share market is currently actively trading, providing solid support for the upward trend of the industry’s fundamentals. The current sector valuations are at historical bottom levels, making sector allocation cost-effective. In the insurance sector, since April, the A-share market has significantly warmed up, and the certainty of subsequent investment income recovery has increased. The current valuation of the insurance sector is still at historical lows, with ample room for recovery, and the left-side allocation value of the insurance industry is viewed positively. Guosheng Securities: Maintains an "overweight" rating for the pig farming industry. As the effects of capacity control gradually become apparent, the supply and demand of pigs will transition from overall surplus to a tight balance, and pig prices are expected to begin a trend of rising. It is recommended to focus on two main lines: first, nationally leading enterprises with cost advantages and abundant cash flow; second, regionally advantageous second-tier enterprises with sufficient capacity elasticity. Guoxin Securities: In the medium to long term, the interest rate hike expectations triggered by oil prices and the capital siphoning in the AI sector have not undermined the macro narrative of rising gold prices. The supporting points for gold, such as the global debt crisis, de-dollarization trends, central bank strategic gold purchases, and the normalization of geopolitical risks, remain intact. 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