"Hong Kong Stocks" The Hang Seng Index rose 59 points throughout the day, commodity stocks rebounded, and HSBC created a high

AASTOCKS
2026.02.03 08:36

The commodity market and external stock markets rose, and Hong Kong stocks fluctuated positively today. The Hang Seng Index opened up 220 points, initially rising 350 points to a high of 27,126 points before declining, at one point falling 343 points to a low of 26,431 points. Before noon, it regained lost ground, closing up 59 points or 0.2% at 26,834 points; the National Index fell 27 points or 0.3% to close at 9,053 points; the Hang Seng Tech Index fell 59 points or 1.1% to close at 5,467 points. The total market turnover for the day was HKD 335.152 billion.

In the tech sector, Tencent (00700.HK) opened flat this morning but fell 6.3% at one point to a low of HKD 561. The decline narrowed slightly afterward, closing at HKD 581, down 2.9%, with a turnover of HKD 37.562 billion. Baidu (09888.HK) dropped 3.6%. Alibaba (09988.HK) and Meituan (03690.HK) fell 1.4% and 1.7%, respectively, while Kuaishou (01024.HK) and Bilibili (09626.HK) fell 4.5% and 2.6%. NetEase (09999.HK) rose 0.3%, and JD.com (09618.HK) fell 0.7%. There are rumors that China's financial industry and online value-added services may face an increase in VAT rates, with the gaming industry's tax rate possibly rising from 6% to 32%. Official media cited authoritative experts and industry insiders stating that the rumors are not credible.

In addition, New Oriental (09901.HK) and GDS Holdings (09698.HK) rose 6.4% and 4.6%, respectively, while Weimob (02013.HK) fell 4.4%. In the chip sector, SMIC (00981.HK) fell 2.4%, Hua Hong (01347.HK) rose 4.2%, and Naura Technology (02676.HK) rose 10.2%. Chip equipment stock ASMPT (00522.HK) rose 4.4%. Mobile component stocks Goertek (01415.HK) and Q Technology (01478.HK) rose 9.4% and 6.2%, respectively.

AI stock CloudWalk (09678.HK) had a 17.7% discount in a placement raising HKD 307 million, with its stock price falling 6.5%. Zhizhu (02513.HK), Inspur (03696.HK), and MINIMAX (00100.HK) surged 8.3% to 14.5%. Wire stock Yangtze Optical Fibre and Cable (06869.HK) rose 12.2%. Power equipment stocks Dongfang Electric (01072.HK) and Harbin Electric (01133.HK) rose 4% and 8.7%, respectively.

In the automotive sector, BYD (01211.HK), XPeng (09868.HK), Xiaomi (01810.HK), and Nio (09866.HK) fell between 1.1% and 1.5%. Heavy-duty vehicle stocks Weichai (02338.HK) and Sinotruk (03808.HK) rose 7.1% and 5.6%, respectively, while automotive parts stock Hongteng rose 9.6%, and lithium stocks including Ganfeng (01772.HK) rose 5.7%. Pharmaceutical stocks CSPC (01093.HK) rose 8.1%, while WuXi Biologics (02269.HK) and BeiGene (06160.HK) rose 3.1% and 3.9%, respectively. Airline and gaming stocks rose, with China Southern Airlines (01055.HK) and Melco International (00200.HK) rising 5.4% and 5.9%, respectively, while China Eastern Airlines (00670.HK) rose 7.4%, and Air China (00753.HK), Galaxy Entertainment (00027.HK), and Wynn Macau (01128.HK) rose between 3.9% and 4.4% Commodity prices rose during the Asian session, with China Silver (00815.HK), Zijin Mining International (02259.HK), Lingbao (03330.HK), Minmetals Resources (01208.HK), and Luoyang Molybdenum (03993.HK) rising by 5.8% to 6.4%, and Zijin Mining International (02259.HK) up by 7.8%. Jiangxi Copper (00358.HK), Zijin (02899.HK), Shandong Gold (01787.HK), Zhaojin (01818.HK), and China National Gold International (02099.HK) increased by 3.6% to 4.6%.

Bank stocks rose, with HSBC Holdings (00005.HK) and Bank of China Hong Kong (02388.HK) up by 3.1% and 2.1%, respectively, while Standard Chartered (02888.HK) rose by 4.5%. The mainland stock market rebounded, with domestic insurance stocks China Pacific Insurance (00966.HK) and China Life (02628.HK) rising by 2.5% and 2.9%. Brokerage stocks Huatai (06886.HK) plan to issue CNY 10 billion zero-coupon convertible bonds, with the stock price falling by 8.2%. In other financial stocks, Hong Kong Exchanges and Clearing (00388.HK) fell by 0.5%, while AIA (01299.HK) rose by 0.4%. Local property stocks Henderson Land (00012.HK), Sino Land (00083.HK), and Swire Properties (01972.HK) rose by 2.8% to 3.3%. Utility stocks Hong Kong and China Gas (00003.HK) and MTR Corporation (00066.HK) rose by 2.9% and 3%. Local conglomerate stocks CK Hutchison (00001.HK) and Swire A (00019.HK) rose by 4.1% and 4%

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