--- type: "Topics" locale: "en" url: "https://longbridge.com/en/topics/43458266.md" description: "On Aug 18, a deep V-shaped reversal pushed the HSI to its third consecutive daily gain; Alibaba stood alone as the savior, while large models and chips suffered brutal selloffs.$Hang Seng Index(00HSI.HK)The market today was full of twists and turns—the index initially fell over 200 points in the morning session before staging a hard-fought recovery in the afternoon. The HSI closed at 25,471.15 (+17.92 pts, +0.07%), securing a narrow two-day winning streak. The tech-heavy HSTECH, however, had less luck, dropping 0.9% to 4,739.18 amid severe divergence within the sector.Large model concept stocks bled heavily today. Zhipu AI plunged over 13%, Xunce Technology and Kinwong Copper Clad Laminates fell more than 8%, and MINIMAX-W dropped over 4.5%. The AI application sector, which looked so promising yesterday, turned hostile today. The semiconductor segment also struggled: Hua Hong Semiconductor slid nearly 8%, while GigaDevice and Montage Technology fell over 6.5%. Those who chased the rally yesterday are now getting hit from both sides.The recovery was driven almost entirely by Alibaba. In the afternoon, Alibaba surged 5% intraday before settling at +3.68%, topping turnover with over HKD 15.1bn. Xiaomi flipped to a gain of over 1%, Baidu rose nearly 1%, while Tencent, Meituan, and JD.com remained in the red. Today’s narrative is clearly “Alibaba single-handedly saving the day”; without it, the HSI would have closed green (down).Gains were concentrated in a few key themes. Innovative drugs remained active: GenScript Biotech surged over 8% to a three-year high, and WuXi Biologics rose over 5%. Robotics concepts strengthened, with Estun and Goertek gaining over 8%; UneeQ Tech is set to list on the STAR Market tomorrow, prompting front-running by capital. Pork stocks stayed active throughout the day as domestic live hog prices continued to rebound, lifting Muyuan Foods over 4%. Shipping shares extended their strong run, with OOILCL rising for three straight days to an YTD high. Oil & gas names benefited from policy tailwinds, with CNOOC Services jumping over 5%.Northbound capital executed a major move today, net buying HKD 14bn. FANG ETF led with HKD 3.5bn inflows, followed by Alibaba (HKD 2.4bn) and SMIC (HKD 1.18bn). SMIC saw six consecutive days of net inflows, Tencent five, and Zhipu three. Domestic funds were deploying real cash to bottom-fish, albeit focusing on heavyweight names like Alibaba and SMIC.The quality of today’s deep V was decent. The intraday low touched 25,240, but northbound buying and Alibaba’s pull helped flip the index back into positive territory. However, the HSI peak remained capped at 25,471, facing resistance just as in recent sessions. With the HSTECH still falling, it signals that the tech correction isn’t over yet, and sector rotation will likely continue.My stance remains unchanged: keep positions under 30%, concentrated in AI applications and semiconductors. Given how badly Zhipu and Hua Hong sold off today, avoid catching falling knives in the short term—wait for stabilization first. Maintain core gold positions. Innovative drugs and robotics showed strength today; holders should stick with their positions." datetime: "2026-08-18T11:14:29.000Z" locales: - [en](https://longbridge.com/en/topics/43458266.md) - [zh-CN](https://longbridge.com/zh-CN/topics/43458266.md) - [zh-HK](https://longbridge.com/zh-HK/topics/43458266.md) author: "[唔割韭菜](https://longbridge.com/en/profiles/27383081.md)" --- # On Aug 18, a deep V-shaped reversal pushed the HSI… ### Related Stocks - [00981.HK](https://longbridge.com/en/quote/00981.HK.md) - [688981.CN](https://longbridge.com/en/quote/688981.CN.md) - [09988.HK](https://longbridge.com/en/quote/09988.HK.md) - [BABA.US](https://longbridge.com/en/quote/BABA.US.md) - [89988.HK](https://longbridge.com/en/quote/89988.HK.md) - [HSMD.SG](https://longbridge.com/en/quote/HSMD.SG.md) - [HBBD.SG](https://longbridge.com/en/quote/HBBD.SG.md) - [01347.HK](https://longbridge.com/en/quote/01347.HK.md) - [09618.HK](https://longbridge.com/en/quote/09618.HK.md) - [02715.HK](https://longbridge.com/en/quote/02715.HK.md) - [002747.CN](https://longbridge.com/en/quote/002747.CN.md) - [07299.HK](https://longbridge.com/en/quote/07299.HK.md) - [GLD.US](https://longbridge.com/en/quote/GLD.US.md) - [01810.HK](https://longbridge.com/en/quote/01810.HK.md) - [01548.HK](https://longbridge.com/en/quote/01548.HK.md) - [07500.HK](https://longbridge.com/en/quote/07500.HK.md) - [07300.HK](https://longbridge.com/en/quote/07300.HK.md) - [07200.HK](https://longbridge.com/en/quote/07200.HK.md) - [02800.HK](https://longbridge.com/en/quote/02800.HK.md) - [00HSI.HK](https://longbridge.com/en/quote/00HSI.HK.md) - [01888.HK](https://longbridge.com/en/quote/01888.HK.md) - [688836.CN](https://longbridge.com/en/quote/688836.CN.md) - [300024.CN](https://longbridge.com/en/quote/300024.CN.md) - [00700.HK](https://longbridge.com/en/quote/00700.HK.md) - [03690.HK](https://longbridge.com/en/quote/03690.HK.md) - [00316.HK](https://longbridge.com/en/quote/00316.HK.md) - [02513.HK](https://longbridge.com/en/quote/02513.HK.md) - [SOXS.US](https://longbridge.com/en/quote/SOXS.US.md) - [SOXL.US](https://longbridge.com/en/quote/SOXL.US.md) - [SOXX.US](https://longbridge.com/en/quote/SOXX.US.md) - [CP00062.US](https://longbridge.com/en/quote/CP00062.US.md) - [03986.HK](https://longbridge.com/en/quote/03986.HK.md) - [603986.CN](https://longbridge.com/en/quote/603986.CN.md) - [06809.HK](https://longbridge.com/en/quote/06809.HK.md) - [688008.CN](https://longbridge.com/en/quote/688008.CN.md) - [002714.CN](https://longbridge.com/en/quote/002714.CN.md) - [02883.HK](https://longbridge.com/en/quote/02883.HK.md) - [09888.HK](https://longbridge.com/en/quote/09888.HK.md) - [02269.HK](https://longbridge.com/en/quote/02269.HK.md) - [01415.HK](https://longbridge.com/en/quote/01415.HK.md) - [688347.CN](https://longbridge.com/en/quote/688347.CN.md) - [89618.HK](https://longbridge.com/en/quote/89618.HK.md) - [JD.US](https://longbridge.com/en/quote/JD.US.md) - [81810.HK](https://longbridge.com/en/quote/81810.HK.md) - [XIACY.US](https://longbridge.com/en/quote/XIACY.US.md) - [80700.HK](https://longbridge.com/en/quote/80700.HK.md) - [TCTZF.US](https://longbridge.com/en/quote/TCTZF.US.md) - [TCEHY.US](https://longbridge.com/en/quote/TCEHY.US.md) - [83690.HK](https://longbridge.com/en/quote/83690.HK.md) - [MPNGY.US](https://longbridge.com/en/quote/MPNGY.US.md) - [601808.CN](https://longbridge.com/en/quote/601808.CN.md) - [BIDU.US](https://longbridge.com/en/quote/BIDU.US.md) - [89888.HK](https://longbridge.com/en/quote/89888.HK.md) - [WXXWY.US](https://longbridge.com/en/quote/WXXWY.US.md) - [DULL.US](https://longbridge.com/en/quote/DULL.US.md) - [SHNY.US](https://longbridge.com/en/quote/SHNY.US.md) - [03037.HK](https://longbridge.com/en/quote/03037.HK.md) - [03115.HK](https://longbridge.com/en/quote/03115.HK.md) - [03419.HK](https://longbridge.com/en/quote/03419.HK.md) - [82800.HK](https://longbridge.com/en/quote/82800.HK.md) - [83115.HK](https://longbridge.com/en/quote/83115.HK.md) - [09115.HK](https://longbridge.com/en/quote/09115.HK.md) - [159920.CN](https://longbridge.com/en/quote/159920.CN.md) - [160924.CN](https://longbridge.com/en/quote/160924.CN.md) - [164705.CN](https://longbridge.com/en/quote/164705.CN.md) - [501302.CN](https://longbridge.com/en/quote/501302.CN.md) - [513210.CN](https://longbridge.com/en/quote/513210.CN.md) - [513600.CN](https://longbridge.com/en/quote/513600.CN.md) - [513660.CN](https://longbridge.com/en/quote/513660.CN.md) - [SSG.US](https://longbridge.com/en/quote/SSG.US.md) - [USD.US](https://longbridge.com/en/quote/USD.US.md) - [SOXW.US](https://longbridge.com/en/quote/SOXW.US.md) - [SOXM.US](https://longbridge.com/en/quote/SOXM.US.md) ## Comments (2) - **幸运星 · 2026-08-19T08:42:48.000Z**: Indeed, it's been a bumpy ride 😭 Hey, do you guys experience lag when trading? I was about to exit, but got stuck. - **正在暴富** (2026-08-19T08:43:49.000Z): Try switching your 🪜, or use a proxy? api.lbkrs.com and api-gl.Ibkrs.com