"Hong Kong Stocks" Hang Seng Index rises 150 points in half a day, chip and gold-related stocks decline, oil stocks and domestic bank stocks rise

China and the U.S. announced more details on trade agreements, including the suspension of export controls on rare earths, leading to fluctuations in Hong Kong stocks. The Hang Seng Index opened up 92 points, rose by as much as 168 points to a high of 26,075 points, and narrowed its gains to 13 points at 25,920 points. The half-day trading range was 155 points, closing up 150 points or 0.6% at 26,057 points; the National Index rose 62 points or 0.7% to 9,231 points; the Hang Seng Tech Index fell 14 points or 0.24% to 5,893 points. The total turnover of the market for the half day was HKD 132.1 billion.

The U.S. White House indicated that China would terminate investigations into NVIDIA (NVDA.US), with chip stocks SMIC (00981.HK) and Hua Hong (01347.HK) falling 4.1% and 4.4%, respectively. In other tech stocks, Tencent (00700.HK) and Alibaba (09988.HK) fell 0.6% and 1.5%, JD.com (09618.HK) fell 0.2%, while Meituan (03690.HK), Baidu (09888.HK), Kuaishou (01024.HK), and Bilibili (09626.HK) rose less than 1%. NetEase (09999.HK) rose 1.2%, and Xiaomi (01810.HK) rose 3.5%. Meitu (01357.HK) and Ping An Good Doctor (01833.HK) rose 5.5% and 4.7%, while New Oriental (09901.HK) and Sunny Optical (02382.HK) fell over 2%.

After car manufacturers announced monthly sales data, individual stocks showed mixed developments, with Nio (09866.HK) and XPeng (09868.HK) rising 2.9% and 3.8%. BYD (01211.HK) and Geely (00175.HK) fell 2.4% and 3.6%, respectively. Battery stock CATL (03750.HK) fell 2.1%, while lithium stocks Ganfeng (01772.HK) and Tianqi (09696.HK) fell 2.9% and 3.1%. In consumer stocks, WH Group (00288.HK) rose 5.4%, U-PRESID CHINA (00220.HK) and Hengan (01044.HK) rose 3.3%, and Pop Mart (09992.HK) rose 2.6%. Extraordinary Holdings (00933.HK) invested HKD 500 million to increase its stake in Li Ning (02331.HK), which rose 1.5%.

Jiangsu Hengrui Medicine (02617.HK) granted Neurocrine (NBIX.US) exclusive development and commercialization rights for NLRP3 inhibitors, with its stock price rising 5%. In other pharmaceutical stocks, CanSino (09926.HK) and Genscript (01548.HK) rose 5.6% and 5%, respectively, while Innovent Biologics (01801.HK) and Rongchang (09995.HK) rose over 4%. WuXi AppTec (02359.HK) fell 4.1% In terms of financial stocks, HSBC (00005.HK) closed flat at HKD 108.1, Hong Kong Exchanges and Clearing (00388.HK) rose by 0.2%, AIA (01299.HK) increased by 4%, and FWD (01828.HK) saw a 37% rise in new business sales in the first three quarters at constant exchange rates, but its stock price fell by 0.3%. The four major domestic banks, China Construction Bank (00939.HK), Industrial and Commercial Bank of China (01398.HK), Bank of China (03988.HK), and Agricultural Bank of China (01288.HK) rose between 1.9% and 3.1%. Among brokerage stocks, CITIC Securities (06030.HK), China International Capital Corporation (03908.HK), and Huatai Securities (06886.HK) fell by over 2%.

With the implementation of the new gold tax policy in mainland China, retail gold stocks such as Lao Pu Gold (06181.HK), Chow Tai Fook (01929.HK), Chow Sang Sang (00116.HK), and Luk Fook (00590.HK) dropped by 7% to 8.4%. Gold mining stocks like Zhaojin Mining (01818.HK) and Shandong Gold (01787.HK) fell by 1.9%, while China Gold International (02099.HK) and Zijin Mining (02899.HK) decreased by 3.2%. OPEC+ decided to suspend production increases starting next year, leading to gains in oil stocks such as CNOOC (00883.HK) and PetroChina (00857.HK), which rose by 3.2% and 2.7%, respectively.

Coal stocks Yanzhou Coal (01171.HK) and China Coal (01898.HK) increased by 5% and 3.4%. Resource stocks like China Minmetals (01208.HK), Jiangxi Copper (00358.HK), and Luoyang Molybdenum (03993.HK) fell by 3.9% to 4.9%. Shipping stocks such as Seaspan (01308.HK) rose by 4.1%, while Pacific Basin Shipping (02343.HK) and China COSCO Shipping Holdings (01919.HK) increased by 3.5% and 2.4%