On October 10, 2025, the Hong Kong stock market closed lower. The Hang Seng Index fell by 1.73%, the Hang Seng China Enterprises Index dropped by 1.80%, and the Hang Seng Tech Index declined by 3.27%.

Ganfeng Lithium down 11%; Zijin Gold, Wuxi Bio, SMIC down over 7%; Baidu, Alibaba, NIO down around 5%; Jiangxi Copper, Hua Hong Semi, XPeng down over 4%.

Golden Leaf International Group surged by 330.00% on its first day of listing, opening 500% higher and attracting significant market attention. The company is a local electromechanical engineering contractor in Hong Kong.

Shanghai Zhida Technology Development also had a strong debut, rising by 192.14% on its first day of trading, opening 183% higher. The stock was oversubscribed by over 11,000 times, earning the title of "oversubscription king."

CATL experienced a significant decline of 7.18% after both Morgan Stanley and JPMorgan downgraded the stock ratings. The downgrades were influenced by the upcoming expiration of the lock-up period and concerns about the energy storage industry's transition to higher quality development in China.

NAYUKI rose by 4.03% as the company opened its first store in the US, achieving a three-day sales record of nearly USD 87,000. The company plans to accelerate its overseas expansion with a second store in New York's Long Island.