Hong Kong Stock Market Mid-Day Review: Hang Seng Index Rises 0.18%, "Anti-Cramping" Concept Sector Strong, Innovative Pharmaceuticals Open Lower!
Glorion Daily, August 6th | As the mid-day trading session approached, Hong Kong's three major indices collectively turned upward with a short-term rally, with the Hang Seng Index rising 0.18% to once again hit above 25,000 points. The state-owned enterprise index fell by 0.03%, while the tech sector index rose by 0.03%
On the market, large-cap tech stocks had mixed performances. Alibaba rose by 2%, Tencent by 1.79%, JD.com turned red, while Meituan, Baidu, and Xiaomi fell more than 1%. The "anti-cramping" concept sector saw a surge in prices, with paper-making stocks continuing to rise sharply, led by Langji Paper's massive gain of over 11%. Steel and coal stocks also rose significantly. China Shenhua Energy (601088) even set a new record high price; Apple's iPhone 17 series release date has been scheduled for September 9th, causing Apple concept stocks to generally rise strongly, with oil and gold stocks performing actively.
On the other hand, food and beverage stocks fell significantly. Weighted stock Baidu fell more than 4%, Nine Fresh, Hai Di Lao, and Innovative Pharmaceuticals opened lower, with brain-computer interface concept stocks, gaming stocks, internal silver stocks, and semiconductor stocks all falling together.