Hong Kong stocks closed｜The three major indices collectively rose, benefiting from favorable external technology developments, with the semiconductor sector experiencing a strong surge

Market Overview

▪ On April 24, Hong Kong stocks closed with all three major indices rising;

▪ The Hang Seng Index closed at 25,978.07 points, up 0.24%, continuing to consolidate at a high level in the short term;

▪ The Hang Seng Tech Index closed at 4,902.20 points, rising 0.75% during the day, maintaining high volatility;

▪ The China Enterprises Index closed at 8,775.62 points, up 0.49%, overall remaining strong.

Sector Performance

▪ The semiconductor sector showed significant volatility during the day, driven by Intel's better-than-expected earnings and optimistic sentiment regarding AI applications in the industry, with market funds concentrating on high-growth leading companies. SMIC rose 10.01%, with a turnover of HKD 12.413 billion, while Hua Hong Semiconductor surged 15.18%, with a turnover of HKD 847 million, becoming the focus of market funds for the day. In the U.S. market, NVIDIA adjusted during the day, but AMD and ARM rose over 7% in pre-market trading, positively influencing Hong Kong stock sentiment. Some companies in the semiconductor sector showed divergence, with funds still focusing on companies with growth support.

▪ In other heavyweight sectors, consumer electronics such as YOFC recorded a decline of 5.41%, while BYD, Meituan, and Geely Auto weakened, indicating that funds are selecting structural opportunities amid sector rotation, with new energy and technology weights alternating under pressure.

Macroeconomic Background

▪ Recently, the Hong Kong stock market has focused on core macro indicators such as the year-on-year import rate, reflecting the activity level of international trade and the local economy. Data fluctuations directly affect foreign capital flows and sector valuation distribution, with investors continuously monitoring policy directions and global market linkages, highlighting structural market trends. In the industry, the better-than-expected earnings of leading U.S. semiconductor companies and optimistic judgments on the AI supply chain have warmed market sentiment, providing spillover benefits for Hong Kong's technology growth sector.

Popular Stocks

▪ GUOXIA TECH (2655.HK) rose 33.33%, entering the top ten gainers in Hong Kong stocks, with active trading. The rise was driven by speculative short-term trading, with no significant fundamental news disclosed, indicating strong speculative attributes of funds.

▪ AV CONCEPT HOLD (595.HK) surged over 20% in the short term, with active fund inflows. The rise had no important fundamental or merger benefits, highlighting the characteristics of fund speculation, with a clear preference for short-term funds in the market.

▪ KIN SHING HLDGS (1630.HK) surged over 20% in the short term, primarily driven by funds, with high attention from hot money. The company had no announcements or industry news, reflecting only short-term fund speculation.

▪ QINGDAO HLDGS (499.HK) rose 54.84%, ranking first in the gainers list. The company had no significant fundamental or policy news on that day, mainly driven by active funds in the market, and caution is needed for short-term profit-taking risks.

▪ PRODUCTIVE TECH (650.HK) rose 30.12%, entering the top ten gainers, primarily driven by funds, with no significant announcement information, and it is advised to be cautious of secondary market volatility risks.

Market Turnover TOP10

▪ SMIC (981.HK) latest transaction price HKD 64.30, up 10.01%, turnover HKD 12.413 billion

▪ Tencent Holdings (700.HK) latest transaction price HKD 493.40, down 0.36%, turnover HKD 911 million ▪ Hua Hong Semiconductor (1347.HK) latest transaction price HKD 108.10, increase of 15.18%, transaction amount HKD 847 million

▪ Alibaba -W (9988.HK) latest transaction price HKD 131.80, increase of 1.07%, transaction amount HKD 828 million

▪ YOFC (6869.HK) latest transaction price HKD 220.40, decrease of 5.41%, transaction amount HKD 342 million

▪ BYD Company (1211.HK) latest transaction price HKD 101.20, decrease of 2.22%, transaction amount HKD 300 million

▪ Meituan -W (3690.HK) latest transaction price HKD 82.45, decrease of 0.78%, transaction amount HKD 298 million

▪ Zhitu (2513.HK) latest transaction price HKD 935.00, decrease of 9.05%, transaction amount HKD 296 million

▪ China National Offshore Oil Corporation (883.HK) latest transaction price HKD 27.90, increase of 0.87%, transaction amount HKD 247 million

▪ Geely Automobile (175.HK) latest transaction price HKD 23.02, decrease of 2.70%, transaction amount HKD 243 million