Hong Kong Stocks Midday Review: Hang Seng Index Rises 0.49%, ChiNext Index Rises 0.93%! Steel Stocks Strong, Innovative Drug Continues to Rise, Lingling Pharmaceutical Rises 11%, Xiaolai Falls Over 6%, Heartbeat Company Rises 25%, Maanshan Iron and Steel
August 5, news, Hong Kong stocks rose across the board. As of mid-day closing, the Hang Seng Index rose 0.27%, reporting 24,799.67 points, the Hang Seng Technology Index rose 0.33%, and the State-owned Enterprises Index rose 0.19%. On the trading floor, tech stocks fluctuated, with Lenovo rising over 3%, Bilibili rising over 2%, Alibaba falling in front; paper stocks rose, with Chenming Paper Co., Ltd. rising over 8%; steel stocks strong, Maanshan Iron and Steel Co., Ltd. rose over 9%; innovative drug concept remained lively, Lingling Pharmaceutical Co., Ltd. rose over 11%; automotive sector retreated, Xiaolai fell over 6%.
Paper stocks rose, with Chenming Paper Co., Ltd. rising over 8%. The paper industry is experiencing a wave of price increases. Leaders such as Jilong Paper Co., Ltd., Liwen Paper Co., Ltd., and Shanbao International Co., Ltd. have recently issued price adjustment notices, announcing that they will increase the prices of multiple products starting from August 1st. This is the fourth round of price increases in the packaging paper industry since July, showing a clear increase in frequency.
Steel stocks strong, Maanshan Iron and Steel Co., Ltd. rose over 9%. A research report by Credit Suisse Securities notes that although the steel industry is currently facing supply and demand imbalances and other challenges, the overall profitability of the industry is expected to remain stable or even rise slightly as a series of "stable growth" policies are deepened. Against this background, the steel industry's total supply and demand situation is likely to maintain stability.
Innovative drug concept continues to rise, Lingling Pharmaceutical Co., Ltd. rose over 11%. China Galaxy Securities notes that the pharmaceutical sector has undergone a significant structural adjustment, with estimates of a longer-term trend towards repair. Under the policy background of supporting the development of commercial insurance, there is likely to be marginal improvement on the payment side, benefiting innovative drugs. Continuous optimism for innovative medicine and expected to continue rising in the second half of 2025.
Automotive sector retreated, Xiaolai fell over 6%. The sales report of the new forces in the automotive industry for July has just been released, and the market situation is once again presenting a new change. Rongtai achieved its first monthly sales breakthrough of over 50,000 units, topping the list; Xiaomi also broke through 30,000 units for the first time, setting a new high; Xiaolai ranked third on the list, with only 21,100 units delivered.
Source: Sina News