"Hong Kong Stocks" Hang Seng Index rises 290 points in half a day, HSBC, AIA, and Alibaba lead the gains, Zijin Mining up 4%

U.S. stocks are watching the tech sector's quarterly results, with the Dow Jones rebounding 0.6% on the evening of the 26th. Hong Kong stocks rose in the early market. The Hang Seng Index opened 97 points higher and then expanded its gains, rising by 423 points to a high of 27,188 points, closing up 290 points or 1.1% at 27,055 points; the National Index rose 78 points or 0.9% to 9,226 points; the Hang Seng Tech Index rose 11 points or 0.2% to 5,737 points. The total turnover of the market for the half-day was HKD 134.768 billion.

Financial stocks led the gains, with HSBC Holdings (00005.HK) rising 2% to HKD 133.6, Hong Kong Exchanges and Clearing (00388.HK) up 1.5%, and AIA (01299.HK) up 3.5% to HKD 85.95. Among the domestic banks, China CITIC Bank (00998.HK) and Agricultural Bank of China (01288.HK) rose 2.4% and 2.6%, respectively, while Industrial and Commercial Bank of China (01398.HK) rose 1.9%. Among domestic insurance stocks, China Life (02628.HK) rose 3.6%, while China Pacific Insurance (00966.HK), PICC (01339.HK), Ping An (02318.HK), and Taikang (02601.HK) rose between 1.7% and 2.5%.

Alibaba (09988.HK) launched a new reasoning model Qwen3-Max-Thinking, with performance comparable to GPT-5.2 and Gemini 3 Pro, and the stock rose 2.2%. Sunny Optical Technology (02382.HK) submitted a listing application for the spin-off of its automotive-related optical business, and the stock rose 0.4%. JD.com (09618.HK) subsidiary JD Property Development submitted a new listing application, with the stock price falling 1.4%.

In other major tech stocks, Tencent (00700.HK) rose 1.1%. Meituan (03690.HK) and Baidu (09888.HK) fell 0.5% and 0.2%, respectively, while NetEase (09999.HK) fell 1.2%. Kuaishou (01024.HK) and Bilibili (09626.HK) rose 0.6% and 5.5%. Among chip stocks, SMIC (00981.HK) fell 1.1%, while Hua Hong Semiconductor (01347.HK) rose 1%. There were reports of further price increases for memory chips, leading chip equipment stock ASMPT (00522.HK) to rise 5.6%. Mobile component stock Q Technology (01478.HK) rose 3.3%. Cloud service providers Kingsoft Cloud (03896.HK) and GDS Holdings (09698.HK) rose 6.8% and 6.6%, respectively, while AI stocks Inspur Intelligent (03696.HK) and MINIMAX (00100.HK) rose 9.3% and 8.2%.

In the automotive sector, BYD (01211.HK) and Xiaomi (01810.HK) rose 0.2% and 0.5%, respectively, while Chery (09973.HK) fell 2.5%. Automotive radar system provider Hesai (02525.HK) fell 5.7%, and robotics stock Youjiang (02432.HK) fell 3.1%. Pharmaceutical stocks Junshi Biosciences (01877.HK) and Yiming Biosciences (09606.HK) rose 5.9% and 4.5%, respectively. Hansoh Pharmaceutical (03692.HK) issued HKD 4.68 billion in zero-coupon convertible bonds, with the stock price falling 3.6%. Online treatment management Ark Health (06086.HK) saw a nearly 12% discount in its old-to-new placement, with the stock price plunging 18.8% Zijin Mining International (02259.HK) spent RMB 28 billion to fully acquire United Gold, with its stock rising 10.6%, and Zijin (02899.HK) up 4.1%. Other commodity stocks fell back, with China Silver Group (00815.HK) down 4.9%, Shandong Gold (01787.HK), Zhaojin (01818.HK), and Jiangxi Copper (00358.HK) dropping over 2%. Real estate stocks saw Hang Lung Properties (00101.HK) retreating 4.4%, New World (00017.HK) rising 2.6%, and domestic property stock Runhua (01109.HK) up 2.3%.

In other stocks, Anta (02020.HK) spent over EUR 1.5 billion to acquire a 29% stake in Puma, becoming the largest shareholder, with its stock rising 1.4%. Conant Optical (02276.HK) raised nearly HKD 1.4 billion through a placement at a discount of over 11%, with its stock up 4.2%. China General Nuclear Power Corporation Mining (01164.HK) and Maanshan Iron & Steel (00323.HK) fell 4.9% and 4%, respectively, while Harbin Electric (01133.HK) rose 7.2%