Hong Kong Stock Mid-Session Review: Hang Seng Index Up 0.59%, Chip Sector Leads Gains

Stock News
10/24

The Hang Seng Index rose by 0.59%, increasing by 154 points to 26,122, while the Hang Seng Tech Index climbed by 1.22%. Trading volume in Hong Kong reached HKD 122.9 billion during the morning session. The "14th Five-Year Plan" aims to establish emerging pillar industries, strategically positioning for future industries. According to China Merchants Securities, the accelerating progress of domestic chip independence has led to significant gains in chip stocks. HUA HONG SEMI (01347) surged over 11%, and SMIC (00981) rose more than 5%. Lithium battery stocks also saw a collective rise, driven by market news lifting lithium prices, with lithium carbonate contracts returning above HKD 80,000. Ganfeng Lithium (01772) rose by 3.27%, and Tianqi Lithium (09696) gained 3.9%. KANAT OPTICS (02276) increased by over 5%, benefiting from a surge in demand for AI glasses as the company launches new products. XIAOZI CHENG TECH (09911) jumped 8.3%, reporting nearly HKD 5 billion in revenue for the first three quarters with innovative business growth around 70%. JINLI YONGMAG (06680) rose nearly 6%, showcasing significant improvements in profitability and highlighting its strategic assets in rare earth resources. Sands China (01928) increased by another 2%, with Citibank forecasting its EBITDA recovery to continue into the fourth quarter of this year and next year. Shangmei (02145) saw an increase of over 5%, with strong performance during the Double Eleven promotion as the company realizes the impact of its strategies. AVIC KONGGONG (02357) rose by 4%, showcasing its conceptual aircraft at the Zhuhai Airshow, with business spanning the aerospace industry chain. Chinese Literature Group (00772) gained 4.6%, launching four initiatives to develop a comics and drama ecosystem and actively promote the commercialization of intellectual property. Zhengli New Energy (03677) fell by 9%, marking a drop of over 25% in the last six trading days, recently announcing a plan to raise over HKD 500 million through a share placement.

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