"Hong Kong Stocks" Hang Seng Index closed down 393 points, commodity stocks weak, chip stocks' decline narrowed

The market is waiting for the U.S. to announce new non-farm payroll data later, and the Asia-Pacific stock markets generally fell. The Hong Kong stock market declined, with the Hang Seng Index opening down 80 points and the decline significantly expanding in the afternoon, dropping 542 points to a low of 25,086 points, closing down 393 points or 1.5% at 25,235 points; the National Index fell 159 points or 1.8%, closing at 8,757 points; the Hang Seng Tech Index fell 95 points or 1.7%, reporting 5,402 points. The total market turnover for the day was HKD 201.528 billion.

In the technology sector, Alibaba-W (09988.HK) fell 3%, Tencent (00700.HK) and Meituan-W (03690.HK) fell 1.1% and 1.4%, Kuaishou-W (01024.HK) fell 0.5%, NetEase-S (09999.HK), Baidu-SW (09888.HK), Bilibili-W (09626.HK), and JD-SW (09618.HK) fell between 1.8% and 2.6%. Dongfang Zhenxuan (01797.HK), Weimob (02013.HK), Tencent Music-SW (01698.HK), and Kingsoft Cloud (03896.HK) fell between 3.2% and 3.4%, SenseTime-W (00020.HK) fell 6.1%. In the chip sector, SMIC (00981.HK) and Hua Hong (01347.HK) fell 1.9% and 1.5%. In the telecommunications equipment sector, ZTE (00763.HK) fell 4%, and in the wire sector, Changfei Optical Fiber (06869.HK) fell 9.2%.

In the automotive sector, BYD (01211.HK) fell 1.5%, Xiaomi-W (01810.HK), Li Auto-W (02015.HK), and Geely (00175.HK) fell over 2%. In the battery sector, CATL (03750.HK) fell 2.5%. In the consumer sector, China Feihe (06186.HK), Hisense Home Appliances (00921.HK), Yum China (09987.HK), Maoyan (01896.HK), and Uni-President China (00220.HK) fell between 2.2% and 2.6%. In the pharmaceutical sector, CSPC (01093.HK), Sinopharm (01099.HK), Heng Rui (01276.HK), Weigao (01066.HK), and CanSino (06185.HK) fell between 2% and 2.6%, and Fosun Pharma (02196.HK) fell 5.8%.

Interest rate-sensitive stocks fell, and in the commodity sector, Jiangxi Copper (00358.HK), Chalco (02600.HK), Minmetals Resources (01208.HK), and Hongqiao (01378.HK) fell between 2.3% and 3.3%. In the gold sector, Zhaojin (01818.HK), Zijin (02899.HK), China Gold International (02099.HK), Shandong Gold (01787.HK), and Lingbao (03330.HK) fell between 3.4% and 4.4%. In the utilities sector, CLP (00006.HK) and Cheung Kong Infrastructure (01038.HK) fell 2.7% and 4.4% In the financial sector, HSBC Holdings (00005.HK) closed flat at HKD 116.2, while Hong Kong Exchanges and Clearing (00388.HK) and AIA Group (01299.HK) fell by 1.9% and 1.1%, respectively. The mainland stock market softened, with domestic insurance stocks such as China Pacific Insurance (02328.HK), China Life Insurance (02628.HK), and PICC (01339.HK) dropping between 3% and 4.1%. Real estate stocks like Longfor Group (00960.HK), R&F Properties (01109.HK), and China Overseas Land & Investment (00688.HK) each fell over 2%. Reports indicate that Vanke (02202.HK) plans to propose to creditors the payment of CNY 60 million in due interest, while also seeking to postpone the repayment of principal by one year; Vanke rose by 2.9% to HKD 3.59.

In other stocks, Xinyi Solar (00968.HK) and Goldwind (02208.HK) fell by 3% and 3.8%, respectively. Shipping stock Seaspan (01308.HK) opened 14.9% higher in the morning but quickly reversed, closing down 2.5% at HKD 26.86. Pacific Basin Shipping (02343.HK) fell by 3.8%. The newly listed stock GuoXia Technology (02655.HK) closed at HKD 43.8, up 117.9% from its listing price of HKD 20.1