Hong Kong equities experienced a turbulent session on August 14, with the Hang Seng Index dropping 1.10% to close at 25,116.85 points. The Hang Seng Tech Index fell 1.77% to 4,707.62 points, while the Hang Seng China Enterprises Index slid 1.02% to 8,340.83 points. Total market turnover reached 254.179 billion Hong Kong dollars, down from 263.71 billion in the previous trading session. Southbound capital saw a net outflow of 1.316 billion Hong Kong dollars.
Among Hang Seng Index constituents, 27 stocks advanced while 63 declined. JD Logistics fell 13.69%, JD.com dropped 10.41%, and CK Asset Holdings slid 6.44%, leading the blue-chip decliners. CK Asset Holdings reported first-half 2026 revenue of 40.306 billion Hong Kong dollars, up 58.77% year-on-year, with net profit reaching 8.683 billion Hong Kong dollars, a 37.78% increase. However, the stock was sold off after the results announcement, as the absence of a special dividend was seen as potentially disappointing the market.
On the upside, Semiconductor Manufacturing International Corp (SMIC) rose 4.81% after reporting a 261.7% year-on-year increase in second-quarter net profit, with revenue surpassing $3 billion. The Ministry of Finance also introduced preferential corporate income tax policies for the integrated circuit industry, benefiting the sector. China Telecom gained 4.07%, and MTR Corporation added 2.85%.
In the Hang Seng Tech Index, only 5 stocks advanced while 25 declined. MINIMAX-W fell 12.69%, and Hua Hong Semiconductor dropped 11.55% despite hitting record second-quarter sales revenue, as its third-quarter revenue guidance fell short of expectations, leading to bearish views from investment banks. Gainers included Tencent Music Entertainment-SW, up 2.0%, NetEase, rising 1.0%, and XPeng Inc-W, adding 0.3%.
CHINAGOLDINTL opened higher and continued to climb, briefly surging 15.38% against the market trend, before closing at 214.60 Hong Kong dollars per share, up 14.64%. On August 14, the company announced its 2026 interim results, with both revenue and profit hitting record highs. First-half sales revenue reached $914 million, a 57.5% increase year-on-year, while net profit attributable to shareholders soared approximately 153.31% to about $507 million.
The company also announced that management has approved a proposal from its wholly-owned subsidiary to advance the next phase of development for the Tibet Jiama Copper-Polymetallic Mine. The plan aims to expand the combined processing capacity of the concentrator from the current 50,000 tonnes per day to approximately 160,000 tonnes per day. This initiative is still subject to the completion of a pre-feasibility study, as well as subsequent internal reviews, necessary regulatory approvals, and statutory procedures before implementation.
The gold sector showed overall strength today, with most stocks in the sector following CHINAGOLDINTL's upward trend.