On March 20, Hong Kong stocks opened lower and continued to decline throughout the day. By the close, the Hang Seng Index fell by 0.88%, and the Hang Seng TECH Index fell by 2.48%. Throughout the day, southbound funds had a net sell-off of over HKD 21 billion.
Major technology stocks fell broadly, with Xiaomi down over 8%, Alibaba down over 6%, and Baidu and Meituan down nearly 2%.
<img src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/OFCFW06JxFKsShtoqOpNsxupacyt5T5HmOJ1YGVaTM3hwAA/641?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/OFCFW06JxFKsShtoqOpNsxupacyt5T5HmOJ1YGVaTM3hwAA/641"/>
Lithium battery stocks strengthened, with CATL up over 8%, and Zhongchuang Innovation and Ganfeng Lithium up over 5%.
<img src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/OxuYaIw2N2IOt3u8Y0kEsQZ9RwndbG2BA_iUU42zcGz3QAA/641?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/OxuYaIw2N2IOt3u8Y0kEsQZ9RwndbG2BA_iUU42zcGz3QAA/641"/>
New energy vehicle concept stocks rose, with GEELY AUTO up over 5%, and Great Wall Motors, BYD Electronics, and Li Auto-W also rising.
<img src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/OvNoQqTmQPCsxAwoTO-bvC4zVUoayX59uAh7Md-9L7I78AA/641?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/OvNoQqTmQPCsxAwoTO-bvC4zVUoayX59uAh7Md-9L7I78AA/641"/>
Some photovoltaic solar concept stocks rose, with Xiehe New Energy up over 3%, and Sunshine Energy and Junda Co., Ltd. also rising.
<img src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/O2F73pLWO-FcZL4EsBiBtNYspdrkl9D4nBwIv-ljMGh4AAA/641?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/O2F73pLWO-FcZL4EsBiBtNYspdrkl9D4nBwIv-ljMGh4AAA/641"/>
<h4>Individual Stock Movements</h4>
<h4>The 2026 Fiber Optic Communication Conference will be held, and YOFC rose over 5%</h4>
On March 20, YOFC rose over 5%. According to Shanghai Securities News, the 2026 Fiber Optic Communication Conference and Exhibition (OFC) will be officially held at the Los Angeles Convention Center, with optical communication giants such as Lumentum, Coherent, and AAOI all in attendance. This year's OFC signals that the explosive growth in AI computing power demand is forcing data centers to completely restructure their optoelectronic network architecture.
<h4>Musk's team is expected to ship photovoltaic equipment in the first week of May, and Junda Co., Ltd. rose over 16% during the day</h4>
On March 20, Junda Co., Ltd. rose over 16% during the day, but by the close, the increase narrowed to 1.25%. According to Caixin, sources revealed that Musk's Space X team previously purchased equipment from a leading heterojunction equipment manufacturer in China, with the order expected to ship in the first week of May. Exports of semiconductor-like products require approval from relevant departments and are currently in progress. It is reported that Musk's photovoltaic orders are mainly divided into Space X (S chain) and Tesla (T chain), with planned application scenarios for space and ground, respectively. Additionally, sources indicated that the T chain cooperation orders are still under negotiation, involving multiple TOPCon equipment manufacturers

STECH

00175

601869

On March 20th, Hong Kong stocks opened lower and continued to decline, with the Hang Seng Index falling by 0.88% and the Hang Seng TECH Index dropping by 2.48%. Southbound funds had a net sell-off of over HKD 21 billion. Technology stocks fell broadly, with Xiaomi down over 8% and Alibaba down over 6%. Lithium battery stocks performed strongly, with CATL rising over 8%. New energy vehicle concept stocks rose, with GEELY AUTO up over 5%. Some photovoltaic solar concept stocks increased, with Xiehe New Energy rising over 3%. YOFC rose over 5% due to news from the 2026 Fiber Communication Conference

- On March 20, Hong Kong stocks closed lower, with the Hang Seng Index dropping by 0.88% and the Hang Seng Tech Index falling by 2.48%.  
- Significant outflows occurred, with over HKD 21 billion in net selling from southbound funds, while major tech stocks like Xiaomi and Alibaba saw declines exceeding 6%.  
- In contrast, lithium battery and new energy vehicle stocks rallied, with notable gains from Ningde Times and Geely Automotive as the 2026 Optical Fiber Communication Conference in Los Angeles drew attention to rising AI computing demands.

腾讯新闻 - 财经

Hang Seng TECH Index

GEELY AUTO

YOFC

Hua Xia CSI New Energy Vehicles ETF

Dacheng Hang Seng Technology ETF(QDII)

KraneShares 2x Long BABA Daily ETF

Huaan Hang Seng Technology ETF(QDII)

China Southern Hang Seng TECH ETF(QDII)

CSOP HS TECH

Penghua SSE STAR New Energy ETF

Hwabao WP CSI Intelligent Electric Vehicle ETF

China Southern CSI New Energy ETF

Huatai-PB CSOP Hang Seng Technology ETF(QDII)

E Fund Hang Seng Technology ETF(QDII)

BABA-W

Alibaba

Hong Kong Stock Market Review: Hang Seng TECH Index fell over 2%, southbound funds net sold over HKD 21 billion