--- title: "Hang Seng Index Soars 739 Points in Half-Day Session; ATMXJ Stocks Rally; Lao Pu Gold Jumps Over 8%; SK Hynix Leveraged ETF Plunges 17% Against the Trend | HK Market Open" type: "News" locale: "en" url: "https://longbridge.com/en/news/304384932.md" description: "The Hang Seng Index surged 739 points in the morning session, closing at 24,659. Technology stocks ATMXJ rallied collectively, led by Meituan, Alibaba, and Xiaomi. Auto stocks rose on favorable export data, with Li Auto gaining over 8%. Spot gold broke through $4,100, boosting gold-related stocks. Conversely, semiconductor and memory chip stocks fell against the trend amid concerns over tighter AI data center regulations, with the SK Hynix leveraged ETF dropping 17%" datetime: "2026-11-05T04:36:21.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/304384932.md) - [en](https://longbridge.com/en/news/304384932.md) - [zh-HK](https://longbridge.com/zh-HK/news/304384932.md) generator: "portal-rs" --- # Hang Seng Index Soars 739 Points in Half-Day Session; ATMXJ Stocks Rally; Lao Pu Gold Jumps Over 8%; SK Hynix Leveraged ETF Plunges 17% Against the Trend | HK Market Open The Hang Seng Index opened 397 points higher this morning and fluctuated upward, rising as much as 830 points to a high of 24,749. It closed the morning session at 24,659, up 739 points or 3.09%, with half-day turnover reaching HK$198.383 billion. The Hang Seng Tech Index rose 188 points or 4.79% to 4,124. Among blue-chip stocks, Lao Pu Gold (6181) rose 8.4%, becoming the best-performing blue-chip stock in the morning session. Major technology stocks performed well collectively. Meituan (3690) surged 8%; Alibaba (9988) rose 7.4%; Xiaomi (1810) gained 7%; Tencent (700) advanced 5.5%; and JD.com (9618) also rose 5.4%. These five stocks contributed a combined 355 points to the Hang Seng Index's gain. ## Auto Stocks Rise; Li Auto Gains Over 8% Auto stocks generally moved higher. Li Auto (2015) rose 8.2% in the morning session, making it the second-best performing blue-chip stock. Peers NIO (9866) rose 5.9%; Geely Automobile (175) gained 5.3%; and Leapmotor (9863) rose 5.22%. On the news front, data from the General Administration of Customs compiled by the China Association of Automobile Manufacturers showed that the total value of auto product imports and exports in September was $33.44 billion, an increase of 9.3% quarter-on-quarter and 34.3% year-on-year. Export value amounted to $30.97 billion, up 11.3% quarter-on-quarter and 47.2% year-on-year. ## Spot Gold Breaks $4,100; Gold Stocks Favored Spot gold stood above $4,100 per ounce today, mainly driven by favorable interest rate implications from the U.S. midterm election results. With the Democratic Party regaining control of Congress, the market expects marginal improvements in fiscal discipline and a weaker U.S. dollar, providing support for dollar-denominated gold. Gold stocks rose collectively: Zijin Gold International (2259) rose 6.2%; Zhaojin Mining Industry (1818) gained 5.7%; and Chifeng Gold (6693) rose 5%. ## Semiconductor and Data Center-Related Stocks Face Selling Pressure On the other hand, market concerns that the Democratic Party will tighten regulatory requirements for AI data centers dragged down semiconductor and data center-related stocks, with memory chip concepts weakening against the trend. Related leveraged ETFs in Hong Kong plunged sharply: CSOP SK Hynix Leveraged ETF (7709) fell 17%; CSOP Samsung Leveraged ETF (7747) dropped 12.3%; Montage Technology (6809) and GigaDevice (3986) fell 6.1% and 4.8%, respectively. * * * With the results of the U.S. midterm elections released, market concerns over political uncertainty eased. The three major U.S. stock indices rose together on Wednesday. The Dow Jones Industrial Average soared 1,569 points or 3.03% to 53,356; the S&P 500 rose 119 points or 1.58% to 7,688; and the Nasdaq Composite gained 364 points or 1.44% to 25,736. The Golden Dragon China Index, which reflects the performance of Chinese concept stocks, also rose 3.49% to 5,722. ## Democratic Victory May Halt Data Center Project Approvals However, the Democratic Party's significant victory may lead to a short-term halt in approvals for data center projects. Some AI-related stocks fell against the trend, with AI cloud computing service providers CoreWeave (CRWV) and Nebius (NBIS) dropping 9.9% and 6.7%, respectively. Memory stocks Micron Technology (MU) and Sandisk (SNDK) also fell 7% and 7.9%, respectively. Meanwhile, Tesla (TSLA) and SpaceX (SPCX), under Elon Musk, declined 3.3% and 3.8%, respectively. ## Tencent and Meituan Both Rise 3% at Open In the Hong Kong market, the Hang Seng Index opened 397 points or 1.66% higher at 24,316 this morning. Major tech internet stocks generally moved upward. Tencent (700) rose 3%; Alibaba (9988) gained 2.6%; JD.com (9618) rose 1.4%; Meituan (3690) increased 3%; and Xiaomi (1810) also rose over 4%. ## Hua Hong Semiconductor Drops Over 5% Before Earnings; Lenovo Falls 5% Among blue-chip stocks, Techtronic Industries (1099) surged 10% at the open, and Sino Biopharmaceutical (9961) rose over 4%, making them among the better performers. Conversely, semiconductor stock Hua Hong Semiconductor (1347), which released its earnings today, fell 5.5%; peer SMIC (981) dropped 3%; another AI-related blue-chip, Lenovo (922), fell 5%; and PetroChina (857) also declined 5.5%. Some AI hardware stocks also faced selling pressure. Cambridge Industries Group (6166) fell 5.7%; GigaDevice (3986) dropped 4.5%; Montage Technology (6809) fell 4.6%; and the two leading AI large model companies, Zhipu AI (2513) and Minimax (100), declined 4.3% and 3.4%, respectively. ## Dajin Heavy Industry Plans H-Share Buyback In individual stock news, Dajin Heavy Industry (1081) plans to buy back H-shares. The quantity will not exceed 10% of the total number of issued H-shares on the day the Shareholders' Meeting approves the "General Mandate for Repurchase of H-Shares." The daily buyback price will not be more than 5% higher than the average closing price of H-shares in the five trading days preceding the buyback date. The stock opened at HK$22.28, up 2%. Regarding Southbound capital flows, there was a net sell-off of HK$3.277 billion in Hong Kong stocks yesterday. SMIC (981), Zhongji Innolight (3308), and Hua Hong Semiconductor (1347) saw net inflows of HK$1.185 billion, HK$557 million, and HK$543 million, respectively. Meanwhile, TRACKER FUND (2800), Xiaomi (1810), and Kingboard Laminates (1888) experienced net outflows of HK$5.979 billion, HK$237 million, and HK$186 million, respectively. ### Related Stocks - [02800.HK](https://longbridge.com/en/quote/02800.HK.md) - [03037.HK](https://longbridge.com/en/quote/03037.HK.md) - [03115.HK](https://longbridge.com/en/quote/03115.HK.md) - [07200.HK](https://longbridge.com/en/quote/07200.HK.md) - [07300.HK](https://longbridge.com/en/quote/07300.HK.md) - [07500.HK](https://longbridge.com/en/quote/07500.HK.md) - [00HSI.HK](https://longbridge.com/en/quote/00HSI.HK.md) - [07709.HK](https://longbridge.com/en/quote/07709.HK.md) - [07747.HK](https://longbridge.com/en/quote/07747.HK.md) - [.DJI.US](https://longbridge.com/en/quote/.DJI.US.md) - [.IXIC.US](https://longbridge.com/en/quote/.IXIC.US.md) - [.SPX.US](https://longbridge.com/en/quote/.SPX.US.md) - [01347.HK](https://longbridge.com/en/quote/01347.HK.md) - [00175.HK](https://longbridge.com/en/quote/00175.HK.md) - [01810.HK](https://longbridge.com/en/quote/01810.HK.md) - [01818.HK](https://longbridge.com/en/quote/01818.HK.md) - [01888.HK](https://longbridge.com/en/quote/01888.HK.md) - [02015.HK](https://longbridge.com/en/quote/02015.HK.md) - [02259.HK](https://longbridge.com/en/quote/02259.HK.md) - [03690.HK](https://longbridge.com/en/quote/03690.HK.md) - [06181.HK](https://longbridge.com/en/quote/06181.HK.md) - [00669.HK](https://longbridge.com/en/quote/00669.HK.md) - [06693.HK](https://longbridge.com/en/quote/06693.HK.md) - [00700.HK](https://longbridge.com/en/quote/00700.HK.md) - [09618.HK](https://longbridge.com/en/quote/09618.HK.md) - [00981.HK](https://longbridge.com/en/quote/00981.HK.md) - [09863.HK](https://longbridge.com/en/quote/09863.HK.md) - [09866.HK](https://longbridge.com/en/quote/09866.HK.md) - [00992.HK](https://longbridge.com/en/quote/00992.HK.md) - [09961.HK](https://longbridge.com/en/quote/09961.HK.md) - [09988.HK](https://longbridge.com/en/quote/09988.HK.md) - [603986.CN](https://longbridge.com/en/quote/603986.CN.md) - [688008.CN](https://longbridge.com/en/quote/688008.CN.md) - [002487.CN](https://longbridge.com/en/quote/002487.CN.md) - [300308.CN](https://longbridge.com/en/quote/300308.CN.md) - [CRWV.US](https://longbridge.com/en/quote/CRWV.US.md) - [MU.US](https://longbridge.com/en/quote/MU.US.md) - [NBIS.US](https://longbridge.com/en/quote/NBIS.US.md) - [SNDK.US](https://longbridge.com/en/quote/SNDK.US.md) - [TSLA.US](https://longbridge.com/en/quote/TSLA.US.md) ## Related News & Research - [HSI Gains 142 Pts at Midday on Hopes for Mainland Market Rescue Measures; CATL , XIAOMI-W Each Jump Over 6%; CHINA LIFE Rises Nearly 5% After Results](https://longbridge.com/en/news/303898985.md) - [HSI Opens Up 397 pts; PETROCHINA Opens Down 5%+; TENCENT, MEITUAN-W Soar 3%+](https://longbridge.com/en/news/304369072.md) - [HSI Gains 98 Pts for Day as XIAOMI-W and CATL Jump 6%; Mainland Banks Face Post-results Selling Pressure](https://longbridge.com/en/news/303927156.md) - [HSI Down 263 pts; HSTI Down 72 pts; BABA Down over 3%](https://longbridge.com/en/news/304575729.md) - [HSI Closes Midday at 23,529, Up 3 pts; HSTI Closes Midday at 3,828, Down 39 pts; WUXI APPTEC Up over 5%; MENGNIU DAIRY Hit New Highs](https://longbridge.com/en/news/304207978.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**