"Hong Kong Stocks" The Hang Seng Index opened high at 385 points, with technology, export, and resource stocks rising, while AI model stocks retraced

AASTOCKS
2026.02.23 01:34

The U.S. Supreme Court rejected Trump's reciprocal tariffs, leading to a surge in e-commerce stocks last Friday (20th), with Hong Kong stocks significantly opening higher in the morning. The Hang Seng Index opened up 385 points or 1.5%, at 26,798 points; the National Index opened up 131 points or 1.5%, at 9,091 points; the Hang Seng Tech Index opened up 92 points or 1.8%, at 5,303 points.

E-commerce stocks Alibaba-W (09988.HK) and JD-SW (09618.HK) opened up 2% and 2.1%, respectively, while Kuaishou-W (01024.HK) opened up 3.2%. In other tech stocks, Tencent (00700.HK) opened up 1.3% at HKD 529, Meituan-W (03690.HK) opened up 3%, NetEase-S (09999.HK) opened up 5.2%, and Baidu-SW (09888.HK) opened up 0.9%. In the chip sector, SMIC (00981.HK) and Hua Hong (01347.HK) opened up 1% and 1.5%. AI model stocks retreated, with Zhipu (02513.HK) apologizing for issues related to the GLM Coding Plan, and the stock opened down 13.8% at HKD 625. MiniMax-WP (00100.HK) opened down 10% at HKD 873.

Export stocks Kintor (00669.HK) opened up 2.6%, and Shenzhou (02313.HK) opened up 3.8%. Pharmaceutical stocks Wuxi Biologics (02269.HK) and WuXi AppTec (02359.HK) opened up 2.9% and 2.2%. In the automotive sector, Geely (00175.HK), BYD (01211.HK), Xiaomi-W (01810.HK), and Nio-SW (09866.HK) opened up between 0.8% and 1.4%.

Commodity prices rose, leading to related stocks opening higher. Shandong Gold (01787.HK) and Zhaojin (01818.HK) opened up 2.4% and 2.6%, respectively, while Zijin (02899.HK) and China Silver (00815.HK) opened up 3% and 3.3%, and China Gold International (02099.HK) opened up 3.9%. Resource stocks Jiangxi Copper (00358.HK) opened up 1.9%, while Hongqiao (01378.HK) and Luoyang Molybdenum (03993.HK) opened up 2.7% and 3.3%, respectively, and Minmetals Resources (01208.HK) opened up 4.1%.

In the financial sector, HSBC (00005.HK) opened up 0.5% at HKD 135, while Hong Kong Exchanges and Clearing (00388.HK) and AIA (01299.HK) opened up 2.2% and 2.5%. Domestic insurance stocks Ping An (02318.HK), China Pacific Insurance (02328.HK), and China Life (02628.HK) opened up between 2.2% and 2.4%. Domestic bank stocks ICBC (01398.HK) opened up 1.7%.

In other stocks, sportswear stock Li Ning (02331.HK) opened up 2.5%. Travel platform Trip.com-S (09961.HK) opened up 2.2%

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