Market Overview
▪ Hong Kong stocks closed with slight gains across the three major indices;
▪ The Hang Seng Index closed at 26,213.780 points, up 1.22%;
▪ The Hang Seng Tech Index closed at 4,969.200 points, up 0.80%;
▪ The SOE Index closed at 8,800.750 points, up 0.80%.
Sector Performance and Hot Stocks
Semiconductor Sector Surges, Leading the Market Amid AI Computing Demand
▪ Montage Technology (06809.HK) surged 16.56% to HK$321
▪ GigaDevice (03986.HK) rose over 14% to HK$531.5
▪ Hua Hong Semiconductor (01347.HK) rose nearly 9%
▪ SMIC (00981.HK) rose 5.58% to HK$74.75, with turnover reaching HK$16.19 billion.
Gold and Non-Ferrous Resource Sector Stands Out
▪ Zijin Gold International (02259.HK) surged 7.6% to HK$161.4;
▪ CMOC Group (03993.HK) rose over 5%;
▪ Zijin Mining (02899.HK) rose nearly 5%;
▪ Ganfeng Lithium (01772.HK) followed with a 2.72% gain.
Mainland Property and Financial Sectors Rebound Collectively
▪ Significant capital inflow into property leaders, with China Overseas Land &amp; Investment (00688.HK) rising nearly 7%
▪ China Resources Land (01109.HK) rose over 6.5%, with combined turnover for the two stocks exceeding HK$2.5 billion
Financial Sector Benefits from Easing Rate Hike Expectations
▪ HSBC Holdings (00005.HK) rose over 3%
▪ China Life Insurance (02628.HK) and China Construction Bank (00939.HK) saw broad gains.
AI Concepts Active, But Tech Weights Show Divergent Trends
▪ Meitu (01357.HK) surged over 10%
▪ Baidu Group-SW (09888.HK) rose nearly 5%. However, large-cap weights faced pressure
▪ Tencent Holdings (00700.HK) fell 2.12% to HK$462.2, with turnover of HK$18.77 billion, topping the market;
▪ BYD Company (01211.HK) fell over 2%; Meituan-W (03690.HK) fell over 1%.
Macro Background
▪ Technology and Computing Theme: AMD's Q1 earnings exceeded expectations, with data center revenue surpassing Intel's for the first time. Coupled with Infineon's raised full-year sales outlook and comments from Micron Technology executives about AI driving the memory industry into &#34;crazy expansion,&#34; multiple positive industry factors resonated to push the semiconductor sector higher. Furthermore, NVIDIA CEO Jensen Huang's optimistic remarks further boosted market confidence in AI applications and asset value re-rating.
▪ Geopolitical Situation and Risk-Off Sentiment: Geopolitical disturbances continued, including the halt of Trump's &#34;Freedom Plan&#34; and uncertainty regarding navigation in the Strait of Hormuz. Combined with a sharp short-term rise in the yen, market risk-off sentiment heated up rapidly, directly driving up precious metal and non-ferrous resource prices and lifting related sectors.
Top 10 Market Turnover
▪ Tencent Holdings Latest price HK$462.20, down 2.12%, turnover HK$18.8 billion
▪ SMIC Latest price HK$74.75, up 5.58%, turnover HK$16.2 billion
▪ Tracker Fund of Hong Kong Latest price HK$26.32, up 1.15%, turnover HK$15.5 billion
▪ Alibaba-W Latest price HK$134.20, up 2.29%, turnover HK$14.6 billion
▪ Hang Seng China Enterprises Index ETF Latest price HK$90.18, up 0.71%, turnover HK$7.5 billion
▪ Xiaomi Corporation-W Latest price HK$30.66, up 0.66%, turnover HK$6.1 billion
▪ Hua Hong Semiconductor Latest price HK$129.50, up 8.82%, turnover HK$5.8 billion
▪ CATL Latest price HK$668.50, up 2.06%, turnover HK$5.5 billion
▪ YOFC Latest price HK$216.20, down 4.25%, turnover HK$5.3 billion
▪ CSOP SK Hynix 2x Leveraged ETF Latest price HK$71.56, up 19.27%, turnover HK$5.0 billion

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Hong Kong stocks closed on May 6 with all three major indices in the green, led by the Hang Seng Index which rose 1.22%. Driven by a surge in global AI computing demand and better-than-expected earnings from overseas giants like AMD, the semiconductor sector exploded, with SMIC and Montage Technology delivering standout performances. Additionally, rising risk-off sentiment pushed the gold and non-ferrous resource sectors higher, while the mainland property and financial sectors also saw a collective rebound. However, significant divergence emerged among tech heavyweight stocks: Tencent Holdings attracted over HK$18.7 billion in turnover, topping the market, but its share price retreated

Market Pulse

HUA HONG SEMI

HSBC HOLDINGS

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SMIC

HK Stocks Close | Three Major Indices Rise Collectively; Semiconductor and Gold Sectors Lead Gains, Tech Weights Show Divergent Trends