--- title: "Hang Seng Index rises 108 points to close at 24,557; SUNNY OPTICAL surges 6%, HSBC HOLDINGS gains 4%; \"Three Barrels of Oil\" fall against the trend" type: "News" locale: "en" url: "https://longbridge.com/en/news/304977775.md" description: "The Hang Seng Index rose 108 points to close at 24,557, with Main Board turnover nearing HK$178.2 billion. Influenced by easing US-Iran tensions and falling oil prices, Hong Kong-listed AI concept stocks performed well across the board, with ILUVATAR COREX and BIREN TECH posting significant gains; SUNNY OPTICAL rose 6%, and HSBC HOLDINGS gained 4%. Traditional internet and technology stocks showed weak performance, with Alibaba and Tencent edging lower. The \"Three Barrels of Oil\" declined against the market trend due to falling oil prices, with PetroChina, CNOOC, and Sinopec dropping 3.5%, 2.6%, and 1.6% respectively. The Hang Seng TECH Index rose 1.1%" datetime: "2026-11-10T08:23:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/304977775.md) - [en](https://longbridge.com/en/news/304977775.md) - [zh-HK](https://longbridge.com/zh-HK/news/304977775.md) generator: "portal-rs" --- # Hang Seng Index rises 108 points to close at 24,557; SUNNY OPTICAL surges 6%, HSBC HOLDINGS gains 4%; "Three Barrels of Oil" fall against the trend (Economic Information Network Special Report on the 10th) Following the Republican Party's setback in the midterm elections, US President Trump has adopted a noticeably more moderate stance toward Iran, raising hopes that the US-Iran stalemate may ease. Overnight, oil prices plunged sharply, while US stocks rallied. Asian markets generally followed suit. The Hang Seng Index opened more than 100 points higher, experienced volatile movements in the early session, rose by over 200 points at one point during trading, but saw its gains narrow to just 23 points at another. The Hang Seng Index closed at 24,557, up 108 points or 0.4%, with Main Board turnover approaching HK$178.2 billion. The Hang Seng China Enterprises Index closed at 8,265, up 5 points or less than 0.1%. The Hang Seng TECH Index closed at 4,084, up 43 points or 1.1%. Net outflow of Southbound Connect funds totaled HK$2.739 billion. The Philadelphia Semiconductor Index surged nearly 7% overnight, leading Hong Kong-listed AI concept stocks to perform strongly across the board. Lenovo Group (00992) rose 2.5% to HK$19.11; SMIC (00981) gained 2.6% to HK$47.24; Hua Hong Semiconductor (01347) advanced 3.8% to HK$74.55; Kingboard Laminates (01888) rose 2.4% to HK$28.26; YOFC (06869) climbed 5.7% to HK$89.70; GigaDevice (03986) increased 3.1% to HK$303; Montage Technology (06809) jumped 6.1% to HK$190.8; ILUVATAR COREX (09903) soared 15.5% to HK$70.1; and BIREN TECH (06082) rose 9.1% to HK$21.08. Anthropic, one of the leading large-model AI companies in the US, reportedly launched its IPO roadshow on Tuesday. MiniMax (00100) rose 10.1% to HK$173.1, and Zhipu AI (02513) gained 11.1% to HK$482. As capital flocked to AI concept stocks, traditional internet and technology stocks underperformed. Alibaba (09988) fell 2.9% to HK$101.6; Tencent (00700) dipped 0.1% to HK$417.8; JD.com (09618) dropped 0.2% to HK$112.1; and Meituan (03690) edged up 0.5% to HK$75.5. Due to falling oil prices, the "Three Barrels of Oil" declined against the broader market trend. PetroChina (00857) fell 3.5% to HK$10.07; CNOOC (00883) dropped 2.6% to HK$22.76; and Sinopec (00386) decreased 1.6% to HK$4.75. With Democrats controlling both the Senate and the House of Representatives, US foreign relations are expected to return to normalcy, supporting international financial stocks. HSBC HOLDINGS (00005) rose 4.4% to HK$143.3; Standard Chartered (02888) gained 5.1% to HK$231; Bank of China (Hong Kong) (02388) advanced 1.4% to HK$51.5; and AIA (01299) rose 1% to HK$79.35. Apple's iPad and MacBook received approval in mainland China for added AI features, boosting Apple-related stocks. SUNNY OPTICAL (02382) rose 5.8% to HK$66.65; AAC Technologies (02018) gained 3.8% to HK$38.54; Cowell e Holdings (01415) surged 8.5% to HK$22.84; FIT Hon Teng (06088) rose 5.3% to HK$2.68; and Lens Technology (06613) increased 3.2% to HK$14.66. WuXi AppTec (02359) was removed by the US Department of Defense from the Section 1260H list of Chinese military companies. After opening 6% higher in the morning, its gains narrowed, closing with a modest rise of 1.2% at HK$200.4. Its affiliate WuXi Biologics (02269) rose 1.4% to HK$49.62, and WuXi XDC (02268) gained 2.4% to HK$73.15. The three most actively traded constituents of the Hang Seng Index were Alibaba, Tencent, and Xiaomi (01810). Alibaba recorded turnover of HK$10.711 billion; Tencent had turnover of HK$6.323 billion; Xiaomi closed at HK$30.6, up HK$0.5 or 1.7%, with turnover of HK$3.155 billion. The two top gainers in the Hang Seng Index were SUNNY OPTICAL and Li Auto (02015). SUNNY OPTICAL recorded turnover of HK$509 million. Li Auto closed at HK$50.35, up HK$2.23 or 4.6%, with turnover of HK$654 million. The two biggest decliners in the Hang Seng Index were Aluminum Corporation of China (Chalco) (02600) and Hongqiao Group (01378). Chalco closed at HK$6.97, down HK$0.36 or 4.9%, with turnover of HK$339 million. 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