Hong Kong Market Midday Review: Hang Seng Tech Index Rises 1.6%, Semiconductors Perform Well! Hua Hong Semiconductor Up 12%, SMIC Up Over 6%, and Xiaomi Up 4%
Claron Financial August 22nd | The Hong Kong market's three major indices rose in the morning session, with the Hang Seng Tech Index rising as high as 1.8% before closing up 1.61%, while the Hang Seng Index and Enterprise Index gained 0.32% and 0.53%, respectively. Market sentiment has warmed significantly.
On the market, large-cap tech stocks mostly trended upwards, with Xiaohongshu gaining nearly 4%, Xiaomi up near 2%, Tencent up 1.43%, Alibaba up 1.3%, and JD.com and Meituan slightly lower; two news releases sparked semiconductors, led by Hua Hong Semiconductor's rise of nearly 12% and SMIC's gain of over 6%; sporting goods stocks continued to climb, with Li Ning posting a near-7% gain and setting a new high price stage; the Apple industry chain kicked off its multi-year upgrade cycle, sending Apple concept stocks surging; military, auto, gaming, stable currency concept, and paper stocks all rose.
On the other hand, news that Boeing is negotiating with China to sell over 500 aircraft caused aviation stocks to plummet. China National Aviation (601111) fell over 6%, performing the worst, while heavy infrastructure, brain-computer interface concept, coal, casino, solar panel, and oil stocks were weak. (Claron Financial)