Hong Kong stocks opened strong in the first hour | All three major indices rose, with the Tech Index up 2.87%, led by semiconductor technology; Alibaba rose 3.89%, and SMIC rose 6.00%

LB Select
2025.10.21 02:34
portai
I'm PortAI, I can summarize articles.

The Hong Kong stock market performed strongly in the first hour of trading, with all three major indices opening higher and maintaining an upward trend. The Hang Seng Tech Index led the way, with the semiconductor and technology sectors showing outstanding performance. AI and consumer recovery drove strength across multiple sectors, with leading stocks Alibaba and SMIC showing significant gains. Southbound capital saw a substantial net inflow, focusing on technology, semiconductor, and financial leaders, further warming market sentiment. The stabilization of the renminbi and the recovery of mainland economic data provided support for the market's rise

Performance of the Three Major Indices in the First Hour of Trading

  • Hang Seng Index (HSI): Up 1.87%
  • Hang Seng China Enterprises Index (HSCEI): Up 2.08%
  • Hang Seng Tech Index (HSTECH): Up 2.87%
  • The market saw 1,079 stocks rise, 490 stocks fall, and 1,152 stocks remain flat.

Sector Performance in the First Hour of Trading

Retail Sector:

Supported by policy and boosted by consumer recovery data, institutional funds continued to flow in during the first hour of trading, leading to a noticeable short-term rebound in the sector.

  • Alibaba ( 9988.HK ): Up 3.89%, with a trading volume of HKD 7.819 billion in the first hour. The recovery in online consumption and policy support raised expectations for recovery, leading to significant inflows of main funds and driving up stock prices. Leading platforms benefit from industry growth, and the market is focused on valuation increases.
  • Pop Mart ( 9992.HK ): Down 1.54%, with a trading volume of HKD 1.476 billion in the first hour. Performance growth has slowed, putting short-term pressure on the stock, with noticeable reductions in institutional holdings and attention on the recovery of offline consumption. The market is focused on changes in the new product cycle.
  • Meituan ( 3690.HK ): Up 2.02%, with a trading volume of HKD 1.317 billion in the first hour. The restaurant delivery and instant retail business exceeded expectations, with significant support from northbound capital, and stable performance supporting valuation recovery.

Semiconductor Manufacturers Sector:

Benefiting from AI and domestic substitution expectations, northbound capital increased positions in mainstream targets during the first hour of trading, with active fund transactions.

  • SMIC ( 0981.HK ): Up 6.00%, with a trading volume of HKD 4.423 billion in the first hour. The opportunities for domestic AI chip production are prominent, and positive performance outlooks attract large net inflows. The market is optimistic about capacity expansion and technological upgrades.
  • Hua Hong Semiconductor ( 1347.HK ): Up 2.50%, with a trading volume of HKD 1.716 billion in the first hour. Policy-driven capacity expansion and accelerated domestic substitution globally, with strong downstream demand. Funds continue to increase allocations.
  • Geely Automobile ( 0175.HK ): Up 4.01%, with a trading volume of HKD 1.317 billion in the first hour. High growth in new energy vehicles and improved valuation expectations due to increased intelligence. Progress in transformation attracts continuous capital inflows.

Internet Content and Information Sector:

A strong rebound in the first hour of trading drove core assets higher, with funds continuously flowing to leading technology companies.

  • Tencent Holdings ( 0700.HK ): Up 2.39%, with a trading volume of HKD 4.192 billion in the first hour. Rapid recovery in gaming and fintech businesses, with strong fundamentals. Continuous net inflows from southbound funds support stock prices
  • Xiaomi Group ( 1810.HK ): Up 1.49%, trading volume in the first hour of opening was HKD 1.926 billion. Demand for IoT and smartphones is recovering, and AI ecosystem layout is accelerating. Industry recovery resonates with technology sentiment.
  • Ping An Insurance ( 2318.HK ): Up 3.51%, trading volume in the first hour of opening was HKD 1.178 billion. Improvement in insurance investment returns, advancement of life insurance reforms, and favorable policies catalyzing valuation recovery. Northbound capital continues to increase positions.

Market Focus

  • Macroeconomic Level: The Federal Reserve maintains high interest rate expectations, and high U.S. Treasury yields suppress external sentiment. RMB exchange rate stabilizes, coupled with China's CPI and export data exceeding expectations, significantly boosts market risk appetite in the first hour of opening.
  • Capital Flow: In the first hour of opening, southbound capital continues to net buy, exceeding HKD 2 billion, with funds concentrated on technology, semiconductor, and financial leaders. Alibaba and SMIC received net inflows of over HKD 2 billion each. Total trading volume of Hong Kong stocks in the first hour of opening was HKD 65.8 billion, significantly increased compared to the same period the previous day. Capital is positioning in industry leaders, reflecting an increased preference for growth sectors.

Top Ten Stocks by Trading Volume in the First Hour of Opening

  1. Alibaba ( 9988.HK ), latest price HKD 168.20, up 3.89%, trading volume HKD 7.819 billion
  2. SMIC ( 0981.HK ), latest price HKD 76.10, up 6.00%, trading volume HKD 4.423 billion
  3. Tencent Holdings ( 0700.HK ), latest price HKD 642.50, up 2.39%, trading volume HKD 4.192 billion
  4. Xiaomi Group -W ( 1810.HK ), latest price HKD 47.84, up 1.49%, trading volume HKD 1.926 billion
  5. Hua Hong Semiconductor ( 1347.HK ), latest price HKD 79.85, up 2.50%, trading volume HKD 1.716 billion
  6. China Life ( 2628.HK ), latest price HKD 25.22, up 7.22%, trading volume HKD 1.689 billion
  7. Pop Mart ( 9992.HK ), latest price HKD 268.20, down 1.54%, trading volume HKD 1.476 billion
  8. Meituan-W (3690.HK), latest price HKD 98.60, increase of 2.02%, trading volume HKD 1.317 billion
  9. Geely Automobile (0175.HK), latest price HKD 19.95, increase of 4.01%, trading volume HKD 1.317 billion
  10. Ping An Insurance (2318.HK), latest price HKD 56.20, increase of 3.51%, trading volume HKD 1.178 billion
Source: LB Select The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.