Hong Kong Stock Midday Review | Hang Seng Index fell 1.1% in the morning session, optical communication concept stocks broadly declined
The Hong Kong Hang Seng Index fell 1.1% to 24,294 points in the morning session, while the Hang Seng TECH Index dropped 1.69%. Tencent, telecommunications stocks, and Mabwell rose against the trend, with Mabwell increasing by over 17%. Optical communication concept stocks were affected by the sharp decline in U.S. stocks and news of technical delays, with YOFC falling by 10%. In addition, bank stocks continued to decline, coal stocks fell, while PRADA surged over 7% due to its foray into the aerospace industry
According to Zhitong Finance APP, the Hong Kong Hang Seng Index fell by 1.1%, down 271 points, closing at 24,294 points; the Hang Seng TECH Index dropped by 1.69%. The turnover of Hong Kong stocks in the morning session was HKD 170 billion.
The user limit for the WeChat HarmonyOS beta has been raised, and Tencent (00700) rose over 3%.
Telecom stocks rose in the morning session. China Unicom (00762) increased by 3.7%, and China Telecom (00728) rose by 2.4%. Media reports indicate that China plans to invest approximately RMB 2 trillion over the next five years to build data centers across the country.
Aerospace Holdings (00031) rose over 4%, stating that it currently has SiC power module-related products and has achieved small batch shipments.
Zhenjiu Lidu (06979) rose over 3% again, with institutions indicating that the company's actual operations are expected to exceed expectations, with a net profit margin in the first half of the year likely approaching 20%.
Pop Mart (09992) rose over 3%, with its dessert brand POP BAKERY set to open its first store in Qinhuangdao.
Shandong Molong (00568) rebounded over 11%, as the conflict between the U.S. and Iran reignited, leading to U.S. retaliatory strikes on Iran.
Mabwell Biologics-B (02493) rose over 17% against the trend, as the clinical trial application for the 9MW5211 injection was approved by the National Medical Products Administration.
Prada (01913) rose over 7%, as the company ventured into the aerospace industry, with the inner layer LCVG of the next-generation lunar spacesuit entering the final testing phase.
Coal stocks generally fell, as supply guarantee policies reversed expectations of supply contraction, with institutions still optimistic about medium to long-term coal prices. China Qinfa (00866) fell by 5.7%; Yanzhou Coal Mining (01171) dropped by 5.8%.
Optical communication concept stocks fell broadly. A SemiAnalysis report indicated delays in two key technologies, leading to a sharp decline in U.S. optical communication stocks overnight. Hongteng Precision (06088) fell by 8.5%; YOFC (06869) dropped by 10%; Huiju Technology (01729) fell by 8.6%.
Hong Kong bank stocks continued to decline. Standard Chartered Group (02888) fell by 6.9%; HSBC Holdings (00005) dropped by 5.49%. The market has recently been closely monitoring the issue of mainland investors opening accounts in Hong Kong banks
