"Hong Kong Stocks" Hang Seng Index rises 216 points in half a day, Tencent leads the surge in AI stocks

Iran has once again closed the Strait of Hormuz, and the Asia-Pacific stock markets continued to rise following the US stock market's increase last Friday (17th). The Hong Kong stock market opened higher, with the Hang Seng Index initially up 44 points and then expanding its gains, rising by 251 points to reach 26,411 points. It closed up 216 points or 0.8% at 26,376 points; the Hang Seng China Enterprises Index rose 68 points or 0.77% to 8,913 points; and the Hang Seng Tech Index increased by 38 points or 0.77% to 5,081 points. The total turnover of the market for the half-day was HKD 135.314 billion.

AI stocks were actively traded, with KNOWLEDGE ATLAS (02513.HK) and INSILICO (03696.HK) rising by 10.6% and 15%, respectively. Paradigm Intelligence (06682.HK) increased by 9.5%, MiniMax (00100.HK) and Yunzhisheng (09678.HK) rose by 3% and 6.8%. Cloud service providers Kingsoft Cloud (03896.HK) and GDS Holdings (09698.HK) increased by 3.8% and 4.3%.

The State Administration for Market Regulation imposed fines on seven e-commerce platforms for food safety violations, causing Meituan (03690.HK) and JD.com (09618.HK) to drop by 1.2% and 0.4%, while Alibaba (09988.HK) rose by 0.9%. In other tech stocks, Tencent (00700.HK) increased by 2.6%, Baidu (09888.HK), NetEase (09999.HK), and KUAISHOU-W (01024.HK) rose between 1.1% and 1.8%. In the chip sector, SMIC (00981.HK) and Hua Hong Semiconductor (01347.HK) rose by 1.3% and 4.3%. In the mobile components sector, Sunny Optical (02382.HK) and Lens Technology (06613.HK) rose by 4.2% and 4.8%, while AAC Technologies (02018.HK) increased by 2.6%. Robotics stocks UBTECH (09880.HK) and SOTY (02498.HK) fell by 3.8% and 2.4%.

In the optical communication sector, Cambridge Technology (06166.HK) fell by 5.4%, while Yangtze Optical Fibre and Cable (06869.HK) rose by 2.8%.

In the automotive sector, BYD (01211.HK) fell by 0.2%, Xiaomi (01810.HK) rose by 1.4%, Leapmotor (09863.HK) dropped by 6.3%, while autonomous driving stocks WeRide (00800.HK) and Pony.ai (02026.HK) each rose by over 4%. Battery stock CATL (03750.HK) increased by 0.7%. The mainland stock market rose, with domestic bank stocks such as China Construction Bank (00939.HK), CITIC Bank (00998.HK), Agricultural Bank of China (01288.HK), and China Minsheng Bank (01988.HK) each rising by over 2%. Domestic insurance stock ZhongAn Online (06060.HK) rose by 2%. In other financial stocks, HSBC Holdings (00005.HK) and Hong Kong Exchanges and Clearing (00388.HK) rose by 0.4% and 0.6%, respectively, while AIA Group (01299.HK) increased by 2% Crude oil prices rebounded, but PetroChina (00857.HK) fell 2.7%, while coal stocks Shenhua (01088.HK) and China Coal (01898.HK) dropped 2.1% and 2.9%, respectively. Among resource stocks, Aluminum Corporation of China (02600.HK) declined 3.3%, while energy transportation stock China Merchants Energy (01138.HK) rose 3.6%. Airline stocks China Eastern Airlines (00670.HK) and Air China (00753.HK) increased by 3.1% and 2.8%. In the photovoltaic sector, Xinyi Solar (00968.HK) and GCL-Poly Energy (03800.HK) surged by 7.2% and 6.2%, respectively, while photovoltaic glass manufacturer Flat Glass Group (06865.HK) rose 8.4%. Wind power stock Goldwind (02208.HK) increased by 4.8%.

Consumer stocks generally rose, with Li Ning (02331.HK) and Shenzhou International (02313.HK) up 2.6% and 3.7%, respectively. Damai Entertainment (01060.HK) rose 4.9%, while Miniso (09896.HK), Mao Geping (01318.HK), and Mixue (02097.HK) increased by 2% to 2.1%. Pop Mart (09992.HK) rose 0.6%.

Newly listed stocks were in demand, with Changguang Chuangxin (03277.HK) rising 5.6% to close at 442 million yuan, and Manycore Tech (00068.HK), one of the "Six Little Dragons of Hangzhou," surged 47% to close at 27.42 yuan, with a trading volume of 1.728 billion yuan