Hong Kong Market Mid-Day Report: Hang Seng Index Up 0.09%, Semiconductors and Biotech Stocks Rally, Apple Concepts Strong!
Glon.com August 12 | The Hong Kong market saw its three major indexes moving in different directions this morning, with the Hang Seng Index rising 0.09% and trading around the 25,000 point level. The state-owned enterprise index rose 0.17%, while the Hang Seng Technology Index fell 0.39%.
On the market, large-cap technology stocks were generally weak, with companies like Quick Hands falling nearly 7%, Alibaba Group declining by 1.35%, and Baidu, Meituan, and Tencent moving downward. Xiaomi and JD.com saw small gains; meanwhile, generative AI technology is driving explosive growth in global computing demand, making semiconductor chips a key area to watch, with semi-conductor chip stocks rising more than 3%. Institutions are looking favorably on Apple's additional investments in the US, pushing up Apple concepts; BYD Electronics and Hongteng Precision set new highs.
On the other hand, rare earth concept stocks fell, biotech stocks stagnated, and innovative pharmaceuticals exhibited high-opening-low-closing patterns. Application software, military industry, paper, solar, education, and steel stocks all saw declines.(Glon.com)