Hong Kong Stock Midday Review | Hang Seng Index rose 1.45% in the morning session, strong performance in gold and non-ferrous resources sectors

Zhitong
2025.10.02 04:03
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The Hong Kong Hang Seng Index rose 1.45% in the morning session, reporting 27,245 points, with a turnover of HKD 124 billion. Gold stocks surged across the board due to risk aversion and interest rate cut expectations, with CHI SILVER GP rising over 30%. Lithium stocks performed strongly, with TIANQI LITHIUM rising over 13%. Photovoltaic stocks generally rose, with Xinyi Solar increasing over 10%. Chip stocks continued their upward trend, with SMIC rising over 9%. Kuaishou-W rose over 7%, and Galaxy Entertainment Group increased over 7%. New Ming China plummeted over 83% in the morning session

According to Zhitong Finance APP, the Hang Seng Index rose by 1.45%, gaining 390 points to close at 27,245 points; the Hang Seng Tech Index increased by 2.66%. The Hong Kong stock market saw a turnover of HKD 124 billion in the morning session.

Gold stocks surged across the board, driven by risk aversion and expectations of interest rate cuts pushing up gold prices. CHI SILVER GP (00815) rose over 30%; Zijin Mining International (02259) increased by over 12%; Chifeng Jilong Gold Mining (06693) rose by 6.18%.

Lithium stocks strengthened in the morning session. TIANQI LITHIUM (09696) rose over 13%, and Ganfeng Lithium (01772) increased by over 10%. On Tuesday, U.S. Eastern Time, U.S. Energy Secretary Chris Wright stated that the U.S. government would hold a small stake in Canadian mining giant Lithium Americas. Stimulated by this news, Lithium Americas' stock price surged over 40% in after-hours trading.

The Hang Seng Biotechnology Index rose over 2%. Among the constituent stocks, Kelun-Biotech (06990) increased by over 7%; Innovent Biologics (02096) rose by over 5%, and Sinopharm Group (01801) increased by over 4%.

In September, prices for polysilicon materials, silicon wafers, batteries, and photovoltaic modules all rose, but the price increase in upstream materials was higher than that in downstream products. Photovoltaic stocks generally rose, with Xinyi Solar (00968) gaining over 10% during the session, and Flat Glass Group (06865) increasing by over 6%.

Chip stocks continued to rise, with institutions stating that a new era of domestic AI chips has begun. SMIC (00981) rose over 9% to reach a new high, Shanghai Fudan (01385) increased by 4.39%; Hua Hong Semiconductor (01347) rose by 5.56%.

Kuaishou-W (01024) rose over 7%, as its recent K2.5 Turbo base model capabilities were upgraded, with AI driving continuous efficiency improvements in its core business.

Galaxy Entertainment Group (03918) rose over 7%, with total gaming revenue in the first three quarters increasing by 29.6% year-on-year.

Sanyou Clover Biotech-B (02197) rose over 21%, having previously announced the initiation of Phase I clinical trials for its respiratory combined vaccine candidate.

New Ming China (02699) plummeted over 83% in the morning session, with multiple large-scale transfer records appearing in September

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