---
title: "Hong Kong stocks closed (08.03) | Hang Seng Index rose 0.48% to above 26,000, Alibaba-W surged over 7%, and photovoltaic stocks performed strongly"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/294663387.md"
description: "Hong Kong stocks opened with a bang in August, with the three major indices fluctuating upward. The Hang Seng Index rose by 0.48%, surpassing 26,000. Alibaba-W increased by over 7%, releasing the Qianwen 3.8-Max large model; photovoltaic stocks like XINYI SOLAR performed strongly. Analyst Zhang Yidong believes that the Chinese stock market has entered a left-side layout window, and Hong Kong stocks may lead in stabilizing"
datetime: "2026-08-03T08:36:02.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/294663387.md)
  - [en](https://longbridge.com/en/news/294663387.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/294663387.md)
---

# Hong Kong stocks closed (08.03) | Hang Seng Index rose 0.48% to above 26,000, Alibaba-W surged over 7%, and photovoltaic stocks performed strongly

According to Zhitong Finance APP, Trump has once again made headlines, announcing that negotiations between the U.S. and Iran are about to resume. Hong Kong stocks welcomed a strong start in August, with the three major indices fluctuating higher throughout the day, and the Hang Seng Index surpassing the 26,000 mark. By the close, the Hang Seng Index rose 0.48% or 124.97 points, closing at 26,009.4 points, with a total turnover of HKD 255.179 billion; the National Enterprises Index rose 0.46%, closing at 8,652.15 points; the Hang Seng Technology Index rose 0.96%, closing at 4,875.61 points.

Renowned analyst Zhang Yidong pointed out that we are currently in a strategic layout window that seems "risky" but is actually "opportune," as we are in the aftermath of summer's cold winds. The hard-core assets of the Chinese stock market have gradually entered the left-side layout window and have begun the autumn market in August, especially as Hong Kong stocks may have already stabilized ahead of overseas markets. Since the adjustment began in mid-May, both A-shares and Hong Kong stocks have released some risks in advance, and the current market has basically confirmed the bottom area, transitioning into a phase of reduced volume and consolidation.

## **Blue Chip Performance**

Alibaba-W (09988) performed impressively. By the close, it rose 7.01%, closing at HKD 125.2, with a turnover of HKD 23.935 billion, contributing 130.61 points to the Hang Seng Index. Alibaba released Qianwen 3.8-Max, with a parameter scale of 24 trillion. Benchmark tests show its programming and general intelligence capabilities are comparable to Anthropic Fable5, with some indicators surpassing it, and it has demonstrated significant autonomous execution capabilities in long-range tasks such as chip design, quantitative research, and e-commerce simulation.

In other blue chip stocks, XINYI SOLAR (00968) rose 13.41%, closing at HKD 2.495, contributing 2.08 points to the Hang Seng Index; New Oriental-S (09901) rose 4.73%, closing at HKD 47.42, contributing 2.57 points; Shenzhou International (02313) fell 3.01%, closing at HKD 43.24, dragging down the Hang Seng Index by 1.71 points; Li Auto-W (02015) fell 2.9%, closing at HKD 51.85, dragging down the Hang Seng Index by 3.31 points.

## **Popular Sectors**

On the market, most large tech stocks were in the green, with Alibaba rising over 7%, Baidu rising nearly 4%, and Tencent and Kuaishou rising over 3%. The "anti-involution" trend continues to advance, with solar stocks strong throughout the day; China has newly approved 8 nuclear power units, making the nuclear power concept active; AI applications continue to rise, with Zhengce Yingxi rising over 13% after its announcement; wind power stocks, robotics concepts, paper industry stocks, and commercial aerospace are performing well. On the other hand, storage concepts saw significant declines; aluminum stocks, coal, and gaming stocks softened.

**1\. Solar stocks were strong throughout the day.** By the close, XINYI SOLAR (00968) rose 13.41%, closing at HKD 2.495; GCL-Poly Energy (03800) rose 11.48%, closing at HKD 0.68; Flat Glass Group (06865) rose 11.22%, closing at HKD 7.73; Xinte Energy (01799) rose 8.25%, closing at HKD 4.2.

The main contract for polysilicon futures hit the daily limit in the afternoon, closing at 35,890 yuan/ton. On July 31, the State Administration for Market Regulation conducted price compliance guidance for the photovoltaic industry in Yancheng, Jiangsu Province, implementing the decisions of the Central Committee of the Communist Party of China and the State Council on deeply rectifying "involutionary" competition, promoting photovoltaic companies to shift from "price competition" to "quality competition," and facilitating the high-quality development of the photovoltaic industry Previously, the group standard "Cost Accounting Model Guidelines for the Photovoltaic Industry," led by the China Photovoltaic Industry Association, was officially released, marking a gradual shift in cost management in the photovoltaic industry from individual enterprise accounting to a standardized and verifiable approach across the entire industry chain.

**2\. Nuclear Power Concept Performs Brightly.** As of the close, Dongfang Electric (01072) rose 9.29% to HKD 23.52; Shanghai Electric (02727) rose 5.59% to HKD 3.4; China General Nuclear Power (01816) rose 2.77% to HKD 2.97.

On July 31, the State Council's executive meeting reviewed and approved 8 nuclear power units. The approved nuclear power projects include 4 projects with a total of 8 units, specifically: 2 units of the second phase of the China National Nuclear Corporation's Zhejiang Jin Qimen Nuclear Power, 2 units of the first phase of Liaoning Zhuanghe Nuclear Power, 2 units of the third phase of China General Nuclear Power's Guangdong Taipingling Nuclear Power, and 2 units of the first phase of State Power Investment Corporation's Shandong Laiyang Nuclear Power. It is estimated that the total investment for the newly approved projects will exceed 170 billion yuan. Among them, the 3rd and 4th units of Jin Qimen Nuclear Power and the 5th and 6th units of Taipingling Nuclear Power will adopt the "Hualong One" technology integration solution version 2.0.

**3\. AI Application Directions Continue to Rise.** As of the close, Minglue Technology-W (02718) rose 15.62% to HKD 53; Kingdee International (00268) rose 3.9% to HKD 8.655; Kuaishou-W (01024) rose 3.02% to HKD 45.02.

Recently, the "software eating the world" theory has gradually been corrected, with the US stock software index continuing to recover, and AI security and AI infrastructure software stocks experiencing significant increases. Notably, there has been continuous news from the large model side, with MiniMax releasing a new generation of multimodal generative model MiniMax H3 on July 31; on the same day, ByteDance launched a new generation of video creation model Seedance 2.5. Meanwhile, the official version of DeepSeek-V4-Flash was released, continuing to gain traction over the weekend. Additionally, OpenAI has lowered the calling prices for GPT-5.6 Terra and GPT-5.6 Luna, significantly reducing the access threshold.

**4\. Storage Concept Declines Significantly.** As of the close, Southern 2x Long SK Hynix (07709) fell 16.65% to HKD 35.44; Lattice Semiconductor (06809) fell 7.51% to HKD 248.8; Zhaoyi Innovation (03986) fell 7.49% to HKD 424.6.

On August 3, the South Korean KOSPI index closed down 5.13% at 6257.41 points. Among them, SK Hynix and Samsung Electronics both fell nearly 9%. Last Friday, the KOSPI index recorded a historic increase of 18%, with SK Hynix's stock price rising by 30%. According to exchange data, foreign capital became the largest net seller of KOSPI index constituent stocks in the early trading on Monday; retail investors bought in, while local funds also sold. In addition, the latest research report from Guojin Strategy pointed out that from the perspective of chip clearing, the domestic AI chain's clearing signal is weaker compared to overseas, thus the rebound seems more like a "repair after a sharp decline."

## **Popular Volatile Stocks**

**Angelalign (06699)** **gapped up significantly**. As of the close, it rose 17.96%, closing at HKD 94.25.\*\*

Angelalign announced that in the first half of 2026, the group expects to achieve total revenue of approximately USD 229 million to USD 231 million, an increase of 41.9% to 43.1% year-on-year; net profit is expected to be approximately USD 24 million to USD 25.4 million, an increase of 69.0% to 78.9% year-on-year. The total number of invisible orthodontic cases is approximately 316,600, an increase of 40.2% year-on-year.

**XunCe (03317)** **performed strongly**. **As of the close, it rose 13.53%, closing at HKD 117.5.**

XunCe Technology expects revenue in the first half to reach CNY 967 million, a year-on-year increase of 389%, setting a historical high for the same period; net profit attributable to the parent company is expected to be CNY 72.51 million, with adjusted net profit of CNY 67 million, both turning losses into profits. The significant growth in performance is mainly attributed to the concentrated release of enterprise AI demand, accelerated expansion of cross-industry business, and new revenue from TokenOS deployment and Token usage growth.

**Legend Holdings (03396) issued a profit warning**, **as of the close, it rose 10.56%, closing at HKD 14.55.**

Legend Holdings expects to achieve a net profit attributable to equity holders of no less than CNY 2 billion in the first half of this year, representing an increase of no less than 186% compared to the same period last year. This expected growth is mainly due to the recovery of the capital market and the profitability of the company's industrial incubation and investment sector.

**MINIMAX-W (00100)** **climbed again**. **As of the close, it rose 7.2%, closing at HKD 247.2.**

The MiniMax H3 model has officially been open-sourced. MiniMax H3 is a general-purpose multimodal generation system. It can uniformly understand multimodal contexts composed of text, images, videos, and audio, and can generate videos with a maximum resolution of 2K, lasting up to 15 seconds, with native stereo audio.

**IFBH (06603) hit a new low.** **As of the close, it fell 15.42%, closing at HKD 5.21.**

IFBH issued a profit warning, expecting the company's net profit in the first half of 2026 to plummet by 65% to 75% year-on-year, with revenue expected to decline by 40% to 50% year-on-year. The company attributes the main reasons to geopolitical tensions and weak consumer sentiment across the entire category

### Related Stocks

- [YINN.US](https://longbridge.com/en/quote/YINN.US.md)
- [BABA.US](https://longbridge.com/en/quote/BABA.US.md)
- [BABO.US](https://longbridge.com/en/quote/BABO.US.md)
- [BABU.US](https://longbridge.com/en/quote/BABU.US.md)
- [BABC.US](https://longbridge.com/en/quote/BABC.US.md)
- [BABX.US](https://longbridge.com/en/quote/BABX.US.md)
- [BABW.US](https://longbridge.com/en/quote/BABW.US.md)
- [BBYY.US](https://longbridge.com/en/quote/BBYY.US.md)
- [KBAB.US](https://longbridge.com/en/quote/KBAB.US.md)
- [09988.HK](https://longbridge.com/en/quote/09988.HK.md)
- [00968.HK](https://longbridge.com/en/quote/00968.HK.md)
- [00HSI.HK](https://longbridge.com/en/quote/00HSI.HK.md)
- [03115.HK](https://longbridge.com/en/quote/03115.HK.md)
- [02800.HK](https://longbridge.com/en/quote/02800.HK.md)
- [07200.HK](https://longbridge.com/en/quote/07200.HK.md)
- [07300.HK](https://longbridge.com/en/quote/07300.HK.md)
- [07500.HK](https://longbridge.com/en/quote/07500.HK.md)

## Related News & Research

- [DeepSeek's new AI model is by far the cheapest of well-known models to run, research firm says](https://longbridge.com/en/news/294645417.md)
- [Moonshot has Nvidia chip cluster from Alibaba computing deal, Bloomberg News reports](https://longbridge.com/en/news/294536715.md)
- [Apple’s Tim Cook warns Siri AI roll-out in China will take time](https://longbridge.com/en/news/294446718.md)
- [Futures Little Changed Amid Corporate Earnings](https://longbridge.com/en/news/294065610.md)
- [EU urged to act against unexpected duty charges on e-commerce parcels](https://longbridge.com/en/news/293918119.md)