"Hong Kong Stocks" Hang Seng Index closed up 446 points, Tencent and Alibaba surged in the afternoon, HSBC reached a new high

AASTOCKS
2025.12.12 08:38

The Central Economic Work Conference pointed out that strengthening internal capabilities to cope with external challenges is essential, continuing to implement a moderately loose monetary policy, flexibly and efficiently utilizing various policy tools such as reserve requirement ratio cuts and interest rate reductions, focusing on stabilizing the real estate market, actively and orderly resolving local government debt risks, deeply implementing special actions to boost consumption, and clearing unreasonable restrictions in the consumption sector. The Hong Kong stock market rose as the Dow Jones Industrial Average reached a new high in the U.S. market. The Hang Seng Index opened 230 points higher this morning (12th) and the gains expanded, rising by 475 points to a high of 26,006 points, closing up 446 points or 1.75% at 25,976 points; the National Index rose 145 points or 1.6%, closing at 9,079 points; the Hang Seng Tech Index rose 103 points or 1.9%, closing at 5,638 points. The total turnover of the market for the day was HKD 242.657 billion.

In the technology sector, Alibaba-W (09988.HK) and Tencent (00700.HK) rose by 2.3% and 2.4%, respectively, while NetEase-S (09999.HK) rose by 4.2%. Meituan-W (03690.HK), Kuaishou-W (01024.HK), and Bilibili-W (09626.HK) rose by 0.9% to 1.1%, and Baidu-SW (09888.HK) rose by 1.8%. JD-SW (09618.HK) was reported to be recruiting talent in the edge AI chip field, and the stock rose by 1.1%. Additionally, Meitu (01357.HK) and China Literature (00772.HK) rose by 6.7% and 5.8%, respectively, while SenseTime-W (00020.HK) and Alibaba Health (00241.HK) rose by 4.7% and 4.3%. In the mobile component sector, AAC Technologies (02018.HK) rose by 3.6%, while chip stocks SMIC (00981.HK) rose by 0.6%, and Hua Hong (01347.HK) fell by 0.7%. Telecommunications equipment stock ZTE (00763.HK) rebounded by 4%, with ZTE planning to spend up to RMB 1.2 billion to repurchase ZTE (000063.SZ) A shares. Wire stock Yangtze Optical Fibre and Cable (06869.HK) rose by 7.8%.

Stocks related to intelligent driving performed well, with Horizon-W (09660.HK) and Hesai-W (02525.HK) rising by 3.8% and 3.7%, respectively, and Pony.ai-W (02026.HK) rising by 5%. Automotive stocks Nio-SW (09866.HK), Geely (00175.HK), and Li Auto-W (02015.HK) rose by over 2%, while Xiaomi-W (01810.HK) and BYD (01211.HK) rose by 1.8% and 1.2%. Battery stock CATL (03750.HK) rose by 1.6%.

Gold prices rose significantly, with Zijin (02899.HK), China Gold International (02099.HK), Shandong Gold (01787.HK), and Zhaojin (01818.HK) rising by 3.4% to 3.8%. Silver prices hit a new high, with China Silver Group (00815.HK) rising by 5.8%. In the resource sector, Hongqiao (01378.HK), Jiangxi Copper (00358.HK), Minmetals Resources (01208.HK), and Chalco (02600.HK) rose by 3.8% to 4.3% Interest-sensitive real estate stocks rose, with New World (00017.HK), Wharf Real Estate Investment (01997.HK), and Sun Hung Kai Properties (00016.HK) up 3% to 3.5%, and utility stock CK Infrastructure (01038.HK) up 4.5%.

In the financial sector, HSBC (00005.HK) rose 2.9% to HKD 117.3, reaching a high of HKD 117.9 during the day, setting a historical high excluding dividends. Standard Chartered (02888.HK) rose 3.4%, while Hong Kong Exchanges and Clearing (00388.HK) and AIA (01299.HK) rose 0.3% and 2.2%, respectively. Domestic insurance stocks China Pacific Insurance (00966.HK) and Ping An Insurance (02318.HK) rose 3.5% and 3.7%, while China Life (02628.HK) and China Taiping (02601.HK) rose over 5%. Brokerage stocks China Galaxy (06881.HK) rose 7%, while Citic Securities (06030.HK) and GF Securities (01776.HK) rose 4.2% to 5.5%. Domestic banks saw Agricultural Bank of China (01288.HK) drop 3%.

Domestic demand and consumer stocks rose, with Trip.com (00780.HK) up 4.5%, and DaMai Entertainment (01060.HK) and Maoyan (01896.HK) up 3.6% and 3.5%, respectively. Haidilao (06862.HK), Mengniu (02319.HK), Miniso (09896.HK), and Prada (01913.HK) rose 2.7% to 2.9%, while Yum China (09987.HK) and Li Ning (02331.HK) rose 2.5%. Logistics stocks Jitu-W (01519.HK) and ZTO Express-W (02057.HK) rose 5.3% and 4.4%. Pharmaceutical stocks CanSino (09926.HK), Kangji Medical (00867.HK), Innovent Biologics (09969.HK), and Ascletis Pharma (03759.HK) rose 5.1% to 6%

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