The Economic Information Daily reported on the 8th: Demand remained strong in the reissuance auction of US$39 billion 10-year US Treasury bonds, with the bid-to-cover ratio rising to 2.77 times, the highest level in nearly 10 years. With ongoing risks in overseas bond markets and the resumption of trading in Stock Connect after the A-share market holiday, despite net inflows exceeding 5.2 billion yuan in the morning session, the downward trend in Hong Kong stocks continued. AI hardware, Apple-related, and banking stocks declined significantly. The Hang Seng Index fell below the 24,000 level in the morning session, closing at 23,963, down 167 points or 0.7%. The Hang Seng China Enterprises Index stood at 8,059, down 22 points or 0.3%. The Hang Seng Tech Index was at 4,113, down 80 points or 1.9%. Turnover on the main board reached 106.3 billion yuan in the morning session, already exceeding the full-day turnover levels of the past three days.
Ongoing concerns over potential windfall tax hikes in the UK and large-scale layoffs in HSBC's (00005) UK wealth management division caused the stock to fall 4% in the morning session, closing at HK$143.9, marking its second consecutive day of decline with a cumulative drop of 5.82%. Peer Standard Chartered (02888) dropped 4.43% to HK$219.8; among local Hong Kong banks, BOCHK (02388) fell 2.51% to HK$49.62, while BEA (00023) declined 2.79% to HK$18.15.
Two AI hardware-related concept stocks simultaneously initiated new fundraising activities. Cambridge Industries (06166) launched a placement and issued convertible bonds, falling 4.99% to HK$108.6. After just three months since its last placement, Biren Technology (06082) launched another placement, plunging 8.19% to HK$31.62. Other AI hardware stocks also declined: Yangtze Optical Fibre & Cable (06869) plunged 7.68% to HK$165.9, Hua Hong Semiconductor (01347) tumbled 7.22% to HK$97.7, Lenovo Group (00992) dropped 5.75% to HK$33.14, SMIC (00981) fell 5.09% to HK$57.8, and Kingboard Laminate (01888) declined 5.13% to HK$50.85.
Apple-related stocks were hit: Sunny Optical (02382) plunged 6.07% to HK$61.1, AAC Technologies (02018) fell 5.18% to HK$37.7, BYD Electronics (00285) dropped 4.72% to HK$22.62, and FIH Mobile (02038) declined 2.9% to HK$14.04. On the news front, Microsoft (US.MSFT) unveiled its new Surface laptop powered by NVIDIA chips capable of supporting both general computing and AI computing, priced from $2,599—about $400 lower than Apple's entry-level 16-inch MacBook Pro.
Tech and internet stocks were under pressure: Kuaishou (01024) dropped 2.69% to HK$28.9, Baidu (09888) fell 2.6% to HK$82.55, Tencent (00700) declined 1% to HK$416.4, Alibaba (09988) dropped 0.76% to HK$104.6, and Meituan (03690) fell 0.14% to HK$70.05. Large model concept stocks were sold off: Zhipu (02513) declined 6.32% to HK$652, while MiniMax (00100) plunged 9.99% to HK$216.2.
Following the end of the National Day holiday, major property developers expressed optimism about holiday sales performance: China Overseas (00688) rose 4.21%, leading Hang Seng gains at HK$13.61, while R&F Properties (01109) gained 3.76% to HK$30.88, Longfor (00960) rose 2.66% to HK$5.41. However, Vanke (02202) fell 4.29% to HK$2.675, and Country Garden (02007) dropped 1.07% to HK$0.185. Domestic consumption stocks also gained: Tingyi (00322) rose 3.32% to HK$12.14, Midea Group (00300) gained 3.15% to HK$93.3, Budweiser APAC (01876) climbed 1.85% to HK$5.78, and China Resources Beer (00291) rose 1.78% to HK$18.9.
The top three most actively traded stocks in the Hang Seng Index were Tencent, Alibaba, and AIA (01299); AIA closed at HK$70.35, up 2.3%. The top three most actively traded stocks in the H-share and Tech indices were Tencent, Alibaba, and SMIC. (ey)
Ongoing concerns over potential windfall tax hikes in the UK and large-scale layoffs in HSBC's (00005) UK wealth management division caused the stock to fall 4% in the morning session, closing at HK$143.9, marking its second consecutive day of decline with a cumulative drop of 5.82%. Peer Standard Chartered (02888) dropped 4.43% to HK$219.8; among local Hong Kong banks, BOCHK (02388) fell 2.51% to HK$49.62, while BEA (00023) declined 2.79% to HK$18.15.
Two AI hardware-related concept stocks simultaneously initiated new fundraising activities. Cambridge Industries (06166) launched a placement and issued convertible bonds, falling 4.99% to HK$108.6. After just three months since its last placement, Biren Technology (06082) launched another placement, plunging 8.19% to HK$31.62. Other AI hardware stocks also declined: Yangtze Optical Fibre & Cable (06869) plunged 7.68% to HK$165.9, Hua Hong Semiconductor (01347) tumbled 7.22% to HK$97.7, Lenovo Group (00992) dropped 5.75% to HK$33.14, SMIC (00981) fell 5.09% to HK$57.8, and Kingboard Laminate (01888) declined 5.13% to HK$50.85.
Apple-related stocks were hit: Sunny Optical (02382) plunged 6.07% to HK$61.1, AAC Technologies (02018) fell 5.18% to HK$37.7, BYD Electronics (00285) dropped 4.72% to HK$22.62, and FIH Mobile (02038) declined 2.9% to HK$14.04. On the news front, Microsoft (US.MSFT) unveiled its new Surface laptop powered by NVIDIA chips capable of supporting both general computing and AI computing, priced from $2,599—about $400 lower than Apple's entry-level 16-inch MacBook Pro.
Tech and internet stocks were under pressure: Kuaishou (01024) dropped 2.69% to HK$28.9, Baidu (09888) fell 2.6% to HK$82.55, Tencent (00700) declined 1% to HK$416.4, Alibaba (09988) dropped 0.76% to HK$104.6, and Meituan (03690) fell 0.14% to HK$70.05. Large model concept stocks were sold off: Zhipu (02513) declined 6.32% to HK$652, while MiniMax (00100) plunged 9.99% to HK$216.2.
Following the end of the National Day holiday, major property developers expressed optimism about holiday sales performance: China Overseas (00688) rose 4.21%, leading Hang Seng gains at HK$13.61, while R&F Properties (01109) gained 3.76% to HK$30.88, Longfor (00960) rose 2.66% to HK$5.41. However, Vanke (02202) fell 4.29% to HK$2.675, and Country Garden (02007) dropped 1.07% to HK$0.185. Domestic consumption stocks also gained: Tingyi (00322) rose 3.32% to HK$12.14, Midea Group (00300) gained 3.15% to HK$93.3, Budweiser APAC (01876) climbed 1.85% to HK$5.78, and China Resources Beer (00291) rose 1.78% to HK$18.9.
The top three most actively traded stocks in the Hang Seng Index were Tencent, Alibaba, and AIA (01299); AIA closed at HK$70.35, up 2.3%. The top three most actively traded stocks in the H-share and Tech indices were Tencent, Alibaba, and SMIC. (ey)
