--- title: "Hong Kong stocks close (08.12) | Hang Seng Index falls 0.83% as optical communication and domestic property stocks rebound strongly; Tingyi rises over 7% after earnings" type: "News" locale: "en" url: "https://longbridge.com/en/news/295635238.md" description: "The three major Hong Kong stock indices closed lower under pressure, with the Hang Seng Index down 0.83%, as the market awaits U.S. CPI data. In terms of individual stocks, TINGYI, LONGFOR GROUP, and CHINA RES LAND rebounded strongly due to positive earnings or sector news; meanwhile, Alibaba, NEW ORIENTAL, and Tencent saw general weakness among tech stocks. Optical communication and domestic property stocks performed well, while aluminum and gold stocks also showed some recovery" datetime: "2026-08-12T08:38:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/295635238.md) - [en](https://longbridge.com/en/news/295635238.md) - [zh-HK](https://longbridge.com/zh-HK/news/295635238.md) --- # Hong Kong stocks close (08.12) | Hang Seng Index falls 0.83% as optical communication and domestic property stocks rebound strongly; Tingyi rises over 7% after earnings According to Zhitong Finance APP, the market is waiting for the release of the U.S. July CPI data tonight, and the three major Hong Kong stock indices are under pressure again, with the Hang Seng Index falling nearly 1%. At the close, the Hang Seng Index dropped 0.83% or 212.65 points, closing at 25,440.17 points, with a total turnover of HKD 216.779 billion; the Hang Seng China Enterprises Index fell 0.96%, closing at 8,446.27 points; the Hang Seng Tech Index fell 0.99%, closing at 4,776.44 points. Galaxy Securities stated that as the peak period for interim report disclosures approaches, the market pricing logic is shifting from emotional recovery and capital rotation to fundamental verification and structural rebalancing, suggesting attention to: the technology sector. The global AI pricing logic is showing a trend from hardware infrastructure to application monetization; high dividend/yield assets; and directions with certainty in interim report performance. ## **Blue Chip Performance** Tingyi (Cayman Islands) Holding Corp (00322) rose after its earnings report. At the close, it was up 7.43%, closing at HKD 12.29, with a turnover of HKD 489 million, contributing 2.48 points. Tingyi reported its interim results for 2026, with revenue of RMB 40.545 billion in the first half of this year, a year-on-year increase of 1.1%; profit attributable to shareholders was RMB 2.433 billion, a year-on-year increase of 7.1%; adjusted profit attributable to shareholders was RMB 2.433 billion, a year-on-year increase of 15.2%. In other blue chip stocks, Longfor Group (00960) rose 8.78%, closing at HKD 6.94, contributing 2.03 points to the Hang Seng Index; CHINA RES LAND (01109) rose 6.97%, closing at HKD 35, contributing 11.26 points; New Oriental Education & Technology Group-S (09901) fell 3.26%, closing at HKD 42.68, dragging down the Hang Seng Index by 1.67 points; Alibaba-W (09988) fell 3.01%, closing at HKD 122.6, dragging down the Hang Seng Index by 60.46 points. ## **Popular Sectors** On the market, tech stocks generally weakened, with Alibaba down over 3% and Tencent falling 1.95% before its earnings report; domestic property stocks surged collectively, with Longfor rising nearly 9%; the AI industry chain's prosperity was validated, with optical communication and AI hardware rebounding, and Zhongji Xuchuang rising over 8%; aluminum stocks rose due to overseas supply disruptions; gold stocks generally warmed up as the market awaited U.S. July inflation data; on the other hand, some coal stocks and sports goods stocks weakened. **Optical communication and AI hardware stocks strengthened.** At the close, Zhongji Xuchuang (03308) rose 8.83%, closing at HKD 1,109; Changfei Optical Fiber and Cable (06869) rose 7.53%, closing at HKD 131.4; Huahong Group (01347) rose 7.13%, closing at HKD 142.8. After the market on August 11, Eastern Time, Lumentum announced its fourth-quarter results for fiscal year 2026, with revenue of USD 1.01 billion, a year-on-year increase of 109%, and adjusted earnings per share of USD 3.23, both exceeding market expectations; AI cloud service provider CoreWeave simultaneously disclosed second-quarter revenue of USD 2.58 billion, a year-on-year increase of 112%. In the conference call, Michael Hurlston stated that Lumentum is at the center of a long-term industry transformation, with current core optical device supply and demand being extremely imbalanced. According to a report on the AI server industry released by TrendForce, the expected annual growth rate of AI server shipments from the nine major global cloud service providers in 2026 has been revised up from 28% to nearly 31%, and it is estimated that total capital expenditure will significantly increase by about 90%, exceeding USD 886.7 billion **Chinese property stocks lead the way.** As of the close, Yuexiu Property (00123) rose 9.99% to HKD 3.91; Longfor Group (00960) rose 8.78% to HKD 6.94; China Resources Land (01109) rose 6.97% to HKD 35. Recently, Beijing has introduced policies to optimize purchase restrictions and provident fund loan policies, further boosting market expectations and residents' actual purchasing power during the off-season. Kaineng Securities pointed out that Beijing has once again shortened the social security years required for non-Beijing residents to purchase homes and increased the provident fund loan limit, sending a clear signal that the loosening of purchase restrictions in Shanghai and Shenzhen is likely to follow. Guojin Securities believes that the new policies for Beijing's real estate market were implemented after the Politburo meeting proposed "increasing counter-cyclical adjustment efforts" and before the traditional peak season of "Golden September and Silver October," carrying strong policy signal significance. Incremental policies in real estate may become an important lever for macro policy strengthening in the second half of the year. **Aluminum stocks perform well.** As of the close, Innovation Industry (02788) rose 6.63% to HKD 19.14; Aluminum Corporation of China (02600) rose 2.69% to HKD 8.78; China Hongqiao (01378) rose 1.66% to HKD 24.44. Disruptions in overseas supply have pushed London aluminum to a seven-week high, as Norway's Hydro announced that its Alunorte plant in Brazil has reduced alumina production to 50% of capacity due to "natural gas supply" issues. Public information shows that the Alunorte plant has a designed annual capacity of 6.3 million tons and is known as "the largest alumina plant outside of China." Alumina is a key raw material for aluminum smelting. Notably, negotiations between the U.S. and Iran have stalled, and the prospects for reopening the Strait of Hormuz remain bleak, leading to continued concerns over aluminum supply. **Gold stocks generally rise.** As of the close, Zhenfeng Gold (01815) rose 9.51% to HKD 1.785; Chifeng Jilong Gold Mining (06693) rose 3.74% to HKD 38.3; Shandong Gold (01787) rose 2.49% to HKD 23.04. Tonight at 8:30, the U.S. July CPI data will be a key test for whether the Federal Reserve will raise interest rates in September. Considering last week's unexpectedly weak non-farm payroll report, a weak CPI could further prompt financial markets to reduce bets on the Fed raising interest rates this year. This month, gold futures have accumulated an increase of about 8%, with last week recording the best weekly performance since January, rising by 7.1%. CITIC Futures believes that if the July CPI is significantly below market expectations, it will drive gold prices further up; if it rebounds significantly beyond expectations, it may reignite inflation concerns, limiting gold's upward momentum. ## **Popular volatile stocks** **Yuewen Group (00772) surged after earnings.** **As of the close,** **it rose 10.13% to HKD 22.84.** Yuewen Group's revenue for the first half of this year was HKD 3.53 billion, a year-on-year increase of 10.7%. Revenue from short dramas and AI comic dramas reached HKD 430 million, a year-on-year increase of 2.3 times. The proportion of hit short dramas reached four times the market average; the IP derivative business also maintained strong growth, with GMV reaching HKD 780 million in the first half, a year-on-year increase of over 60% **MINIMAX-W (00100) receives positive ratings from major institutions.** **As of the close,** **up 8.96%, at HKD 357.4.** Daiwa pointed out that the company focuses on competitive model capabilities and cost-effectiveness, making it one of the few pure AI large model listed companies benefiting from the commercialization trend of AI in China. The recent weakness relative to the company's fundamentals and growth prospects provides an attractive entry point, and the upward catalysts over the next 12 months should support a valuation reassessment. **China General Nuclear Power Corporation New Energy (01811) under pressure after profit warning.** **As of the close, down 8.65%, at HKD 2.06.** China General Nuclear Power Corporation New Energy expects a year-on-year decline of approximately 49.8% in profit attributable to shareholders for the first half of the year. This is mainly due to a decrease in the on-grid electricity price and power generation of wind power projects, as well as a reduction in other income and losses. Excluding the impact of one-time sale gains, the expected profit attributable to equity shareholders for the period is anticipated to decline by approximately 41.3% year-on-year. **China Tower Corporation (00788) declines after earnings report.** **As of the close, down 4.17%, at HKD 9.315.** China Tower Corporation announced its interim results, with operating revenue of RMB 48.693 billion for the first half of the year, a year-on-year decrease of 1.8%. The profit attributable to the parent company was RMB 7.489 billion, a year-on-year increase of 30.1%, but operating cash flow decreased by RMB 21.544 billion to RMB 7.135 billion year-on-year. 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