"Hong Kong Stocks" Hang Seng Index rises 254 points in half a day, with insurance, brokerage, automotive, and pharmaceutical stocks up; Bright Smart resumes trading and surges 66%

AASTOCKS
2026.03.17 04:33

Oil prices fell from high levels, and the Dow Jones Industrial Average rose by 0.8%. The China-U.S. trade talks agreed to study the establishment of a mechanism to promote bilateral trade and investment cooperation. The Hong Kong stock market rose in the early session. The Hang Seng Index opened up 104 points and then expanded its gains, rising by as much as 416 points to a high of 26,250 points, closing up 254 points or 1% at 26,088 points; the National Index rose by 81 points or 0.9% to 8,898 points; the Hang Seng Tech Index rose by 68 points or 1.3% to 5,180 points. The total turnover of the market for the half day was HKD 140.178 billion.

Insurance and brokerage stocks rose, with China Taiping (00966.HK) up 3.8%, PICC (01339.HK), Ping An (02318.HK), Taikang (02601.HK), China Life (02628.HK), and ZhongAn Online (06060.HK) all rising over 2%. GF Securities (01776.HK) and CITIC SEC (06030.HK) rose by 5.3% and 7.1%, respectively, while Guotai Haitong (02611.HK), CICC (03908.HK), CITIC JianTou (06066.HK), and China Galaxy (06881.HK) rose by 3.4% to 4.1%. In other financial stocks, Bright Smart (01428.HK) announced that all conditions for Ant Group's investment have been met, expected to be implemented on the 30th of this month, with its stock price rising 65.9% to HKD 15.38. HSBC (00005.HK), AIA (01299.HK), and Hong Kong Exchanges and Clearing (00388.HK) rose by 0.8% to 1%, while Standard Chartered (02888.HK) rose by 2%.

Automobile stocks continued to be driven by market expectations of price increases in industry competition, with BYD (01211.HK) rising 2% to HKD 106.4, Xiaomi (01810.HK) rising 2.2% to HKD 35.96, and Li Auto (02015.HK) and Nio (09866.HK) rising 3.1%. Geely (00175.HK) and Chery (09973.HK) rose over 5%. Leapmotor (09863.HK) turned a full-year loss into a profit of 540 million RMB, with its stock price rising 4.7%. Automotive-related stock Hongteng (06088.HK) continued to rise by 4.6%. Battery stock CATL (03750.HK) reached a new high of HKD 685 after listing and then retreated, falling 2.4% for the half day.

According to reports, Alibaba (09988.HK) plans to launch enterprise-level AI intelligent applications this week, with Alibaba rising 2.5%. In other tech stocks, Tencent (00700.HK) and NetEase (09999.HK) rose by 0.1% and 0.6%, respectively, Meituan (03690.HK) rose 3.8% to HKD 81.3, Kuaishou (01024.HK) and JD.com (09618.HK) rose by 1.3% and 1.1%, respectively, while Bilibili (09626.HK) rose 2.1%, and Baidu (09888.HK) fell 1.5%. Ping An Good Doctor (01833.HK) and Kingsoft (03888.HK) rose by 3.9% and 4.1%, respectively, while Weimob (02013.HK) rose 3% Chip stocks Semiconductor Manufacturing International Corporation (00981.HK) rose 0.2%, while Hua Hong Semiconductor (01347.HK) fell 1.4%. AI stock Zhizhu (02513.HK) rose 0.5%, and Jingtai (02228.HK) and MiniMax (00100.HK) rose 3.2% and 4.2%. Mobile component stock QiuTai (01478.HK) dropped 4%, affected by Citigroup lowering its target price and downgrading its rating to "neutral."

Wire stocks Changfei Optical Fiber and Cable (06869.HK) fell 9.7% along with the broader market. At the GTC2026 conference, NVIDIA (NVDA.US) CEO Jensen Huang stated that copper remains important, and optics will be used for expansion in different dimensions, both of which are essential capabilities, attracting market attention.

Pharmaceutical stocks were favored, with Ying'en (09606.HK) and Junshi Biosciences (01877.HK) rising 7% and 6.7%, respectively. Sanofi (01530.HK), Junshi Biosciences (02367.HK), and WuXi AppTec (02268.HK) rose 5.1% to 5.6%. Kingsoft (01548.HK) and Kelun-Biotech (06990.HK) rose 4.2%, while WuXi AppTec (02359.HK) rose 3.5%. Consumer stocks rose, with Miniso (09896.HK), Pop Mart (09992.HK), and Li Ning (02331.HK) rising over 4%, and Anta (02020.HK), Yum China (09987.HK), and Damai Entertainment (01060.HK) rising 2.8% to 2.9%. Logistics stocks Jitu (01519.HK) and JD Logistics (02618.HK) also each rose over 3%.

Oil prices retreated from high levels, with PetroChina (00857.HK) and CNOOC (00883.HK) falling 1.3% and 3.2%, respectively. CNOOC Services (02883.HK), Sinopec Refining (02386.HK), and COSCO Shipping Energy (01138.HK) fell 3% to 3.3%. Commodity stocks stabilized, with Zijin Mining International (02259.HK) and Lingbao (03330.HK) rising 4.1% and 3.1%, respectively. Minmetals Resources (01208.HK), Luoyang Molybdenum (03993.HK), and Zhaojin Mining (01818.HK) rose 2.5%. Gold retail stock Laopu Gold (06181.HK) rose 3.2%.

Domestic property stocks Sunac (01918.HK) rose 5.1%, while Longfor (00960.HK) and Vanke (02202.HK) rose 3.7% and 2.7%, respectively. Local real estate stock Henderson Land (00012.HK) rose 3%. New energy stock Longyuan (00916.HK) fell 3.5%

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