- The Hong Kong Hang Seng Index opened 124 points higher at 25,635 on the morning of August 26, driven by broader gains across major tech shares and corporate earnings reports.
- Major technology firms rebounded, including BABA-W which rose over 1% following reports of stakeholder share increases, while INNOVENT BIO surged over 6% after reporting a 50% growth in 1H profit.
- International oil prices declined by more than 2% following a temporary security passage arrangement in the Strait of Hormuz, causing oil stocks like CNOOC and PETROCHINA to open lower.
- At the midday close, the Hang Seng Index dropped 544 points or 2.1% to 25,465, while the Hang Seng Tech Index fell 183 points or 3.8% to 4,582.
- Major heavyweights recorded significant declines, with BABA down over 9%, XIAOMI down over 4%, and TENCENT down over 3%.
- Other index constituents also faced downward pressure, though selective stocks like PING AN and SINOPEC CORP posted modest gains.
