"Hong Kong Stocks" The Hang Seng Index continued to decline by 215 points in the first half of the day, with domestic property, self-driving, Xinyi-related, and new consumption stocks under pressure, while Chinese biotech stocks rose against the trend

Investors are waiting for the results of this week's Federal Reserve meeting, with the Dow Jones Industrial Average falling 215 points on Monday (the 8th). In Hong Kong stocks, the Hang Seng Index opened 15 points higher and once rose 54 points to a high of 25,820 points, but the upward momentum weakened, and it fell 244 points to a low of 25,521 points. It closed at 25,549 points, down 215 points or 0.8%; the National Index fell 101 points or 1.1%, closing at 8,981 points; the Hang Seng Tech Index fell 74 points or 1.3%, closing at 5,587 points. The total market turnover for the half day was HKD 107.76 billion.

The U.S. Congress is expected to pass a bill restricting Chinese biotech companies from obtaining government funding contracts, leading biotech stocks to perform well against the trend. WuXi Biologics (02269.HK) rose 3%, making it the best-performing blue-chip stock, while its parent company WuXi AppTec (02359.HK) also rose 0.9%. China Biologic Products (01177.HK) rose 0.7%. Sirnaomics (02257.HK) rose 13.4%. Genscript Biotech (01672.HK) saw positive results in its ASC30 obesity treatment study, with its stock price rising nearly 16%.

In the tech sector, a passenger was injured in an accident involving a self-driving taxi from Haier in mainland China, causing Baidu-SW (09888.HK) to drop 2.3%. Alibaba-W (09988.HK) fell 0.5%. Tencent (00700.HK) fell 0.7%, with Tencent QQ announcing the return of its classic PC mode. Xiaomi-W (01810.HK) fell 2.7%, following personnel adjustments in the group, with Wang Xiaoyan, the president of the China region, also serving as the general manager of the sales operation department. Bilibili-W (09626.HK), Kuaishou-W (01024.HK), and Meituan-W (03690.HK) fell between 1.4% and 2.6%. Lenovo (00992.HK) fell 0.9%, and JD-SW (09618.HK) fell 0.3%.

U.S. President Trump announced that Nvidia (NVDA.US) is allowed to sell H200 chips to China, causing semiconductor stocks SMIC (00981.HK) and Hua Hong Semiconductor (01347.HK) to drop 2.4% and 2.8%, respectively. Data center stock GDS Holdings (09698.HK) rose 4.1%. SenseTime (00020.HK) rose 1.4%.

Brilliance China (01114.HK) rose 7.3%, with Citigroup reiterating its "Buy" rating and raising the target price to HKD 4.8. Other automotive stocks Nio (09866.HK), XPeng (09868.HK), Li Auto (02015.HK), Geely (00175.HK), and BYD (01211.HK) fell between 0.7% and 2%.

Heavyweight financial stock HSBC (00005.HK) rose 0.6%. AIA (01299.HK) fell nearly 0.1%. The Hong Kong Stock Exchange (00388.HK) launched the "HKEX Technology 100 Index" to track 100 tech companies listed in Hong Kong and optimized the collateral arrangements for over-the-counter settlement companies, with its stock price falling 0.6% Chinese property stocks were weak, with Longfor Group (00960.HK) down 4.1%, Sunac China (01109.HK) and China Overseas (00688.HK) down 2.7% and 2.6%, respectively, and Vanke (02202.HK) down 2%. Among the three major oil companies, PetroChina (00857.HK), CNOOC (00883.HK), and Sinopec (00386.HK) all fell by more than 2%.

Wanguo Gold (03939.HK) was added to the Hong Kong Stock Connect eligible securities list by the Shenzhen Stock Exchange, with its stock price dropping 6.4%. Xinyi Glass (00868.HK) fell 6.2%, making it the worst-performing blue-chip stock, while its affiliate Xinyi Solar (00968.HK) also dropped 4.3%. Zijin Mining fell 4.1%. Pop Mart (09992.HK) declined by over 4%.

China Metallurgical Group (01618.HK) divested non-core assets to cash out over 60 billion RMB, with its stock price plunging over 18%. (jl/)