Hong Kong's benchmark index edged higher in Thursday morning trade, with the Hang Seng Index rising 0.24%, or 62 points, to 25,533. Meanwhile, the Hang Seng Tech Index declined 0.82%. Turnover for the morning session reached HK$129.3 billion.

Hong Kong and China Gas (00003) led gains among blue-chip stocks, surging over 7% after reporting a 23% year-on-year increase in first-half net profit and declaring an interim dividend of HK$0.12 per share. Xiaomi Corp-W (01810) climbed more than 6% as its second-quarter results showed sequential improvement, with its smartphone business demonstrating resilience. iFlytek Medical Technology (02506) jumped 10% following a nearly 50% rise in first-half revenue, driven by robust growth in its AI diagnostic assistant segment. Zai Lab Ltd (09688) advanced 5% after argenx's FcRn-targeting therapy succeeded in Phase 3 trials, a drug for which Zai Lab holds Greater China rights. China Qinfa (00866) added nearly 8% after reporting first-half profit of no more than HK$290 million, with plans underway to build a bulk commodity exchange in Indonesia. Bama Tea (06980) rose over 9% on a 65.3% jump in first-half net profit and a net addition of 260 new stores year-on-year.

On the downside, Wasion Holdings (03393) fell over 3% after Wasion Information Technology posted a 33.68% decline in net profit attributable to shareholders for the first half of 2026. AI hardware names tumbled across the board as the market absorbed the debut of Unitree Robotics and its capital-siphoning effect. Estun Automation (02715) dropped more than 11%, while Dobot (02432) slid 10%. The sector-wide selloff comes as OpenAI reported slower second-quarter revenue growth and widening losses, alongside a pause in frontier model training. CIG (06166) plunged 12.18%, GigaDevice (03986) fell over 7%, YOFC (06869) dropped 9%, and Zhongji Innolight (03308) lost 9.73%.

Smartphone supply chain stocks also weakened collectively on reports that the iPhone 17 series could see global price increases before month-end, with hikes reaching nearly RMB 1,000 per unit. FIH Mobile (02038) declined 6%, Goertek Electronics (01415) fell 5%, and Lens Technology (06613) shed 4.8%. Hua Hong Semiconductor (01347) dropped more than 12% for a second consecutive session, with BofA flagging stretched valuations and Goldman Sachs noting third-quarter revenue guidance fell short of expectations.