Hong Kong Stock Midday Review | Hang Seng Index rose 0.12% in the morning session, with the Macau sector leading the gains
The Hong Kong Hang Seng Index rose 0.12% in the morning session, reporting 26,576 points, with a turnover of HKD 179 billion. Gaming stocks performed strongly, with August Macau gaming revenue exceeding expectations; Wynn Macau, MELCO INT'L DEV, and Sands China all rose over 5%. Weimob Group rose over 10%, Ganfeng Lithium rose over 10%, and Yangtze Optical Fibre and Cable rose over 12%. Most stablecoin concept stocks rose, with HYGEIA HEALTH rising over 6%. Tesla-related news caused Sanhua Intelligent Control to drop over 7%
According to Zhitong Finance APP, the Hang Seng Index rose 0.12%, up 31 points, closing at 26,576 points; the Hang Seng Tech Index rose 0.62%. The Hong Kong stock market saw a turnover of HKD 179 billion in the morning session.
Gaming stocks led the gains, with August Macau gaming revenue slightly exceeding expectations, and gaming companies generally anticipating strong demand during the National Day holiday. WYNN MACAU (01128) rose 5.41%; MELCO INT'L DEV (00200) rose 5.85%; Sands China (01928) rose 5%.
Weimob Group (02013) rose over 10% again, as the company plans to raise over HKD 1.5 billion through a placement, with Wuji Capital becoming the largest single shareholder.
Ganfeng Lithium (01772) rose over 10%, stating that its energy storage cell production capacity is currently fully utilized.
Changfei Optical Fiber and Cable (06869) rose over 12% to a new high, with the market favoring hollow-core fiber optics; the company stated that the related business has not yet had a significant impact on financial data.
Hongteng Precision (06088) rose over 16%, as it plans to build an electric vehicle charging station factory in Saudi Arabia, accelerating its AI multi-product layout.
China Rare Earth Holdings (03788) rose nearly 9% again, with the Mt Bundy project reserves increasing; the company plans to spin off Rare Earth Gold for a listing in Hong Kong.
Most stablecoin concepts rose, as Hong Kong is implementing a stablecoin issuer system, which may present development opportunities for third-party payment institutions. Duodian Smart (02586) rose 4%; Yao Cai Securities Financial (01428) rose 5.85%; OSL Group (00863) rose 5%.
HYGEIA HEALTH (06078) rose over 6%, as founder Zhu Yiwen increased his holdings by 1.6648 million shares.
SenseTime-W (00020) rose over 3%, as Goldman Sachs raised the company's ToC business expansion expectations, with generative AI driving the development of X innovation business.
Musk denied the order of 10,000 Tesla robots, and Sanhua Intelligent Control (02050) fell over 7%.
FORTIOR (01304) fell nearly 5% again, as shareholder Shanghai Huaxin plans to reduce its stake by no more than 3% of the company's shares
