Hong Kong's Hang Seng Index rose 0.72% by midday, adding 185 points to reach 25,853, while the Hang Seng Tech Index gained 0.37%. Midday trading volume in Hong Kong stocks reached 140.8 billion Hong Kong dollars.

Rising gold prices drove sector performance, with gold jewelry retailers strengthening. Laopu Gold (06181) surged over 8%, while Chow Sang Sang (01116) climbed more than 6%, Chow Tai Fook (01929) advanced 4.9%, and Luk Fook Group (00590) rose 3%.

Coal stocks continued their recent upward trend. Following a safety accident at Xiqu Coal Mine, production has been halted, reinforcing market expectations of sustained high safety inspections. Jinma Energy (06885) jumped 20%; Power Development (01277) gained 8%; China Coal Energy (01898) rose 4%; and Yankuang Energy (01171) added 3.9%.

CRO (Contract Research Organization) concepts led gains. WuXi AppTec (02359) received a preliminary injunction from a U.S. court, suspending the enforcement of the 1260H designation by the Department of Defense. WuXi AppTec (02359) rose 2.8%. Insilicon Medicine (03696) surged over 7%, as AI-driven drug development enters a demand validation phase, with the company offering end-to-end full-process coverage. Bote Yilian (02889) gained more than 7%, planning to acquire 70% of issued shares in Chengdu Mingyi Electronic Technology for no more than 1.4 billion yuan.

Guotai Junan International (01788) resumed trading, surging 36% after receiving a privatization proposal from Guotai Haitong at a 44% premium. Lygend Resources (02245) rose over 5% after the China Securities Regulatory Commission approved its Shenzhen Stock Exchange IPO registration, and all production lines of its RKEF Phase II KPS project have reached full capacity.

Maoyan Entertainment (01896) gained 7% as "Kung Fu Women's Football" extended its screening period to September 10, with box office revenue exceeding 2.2 billion yuan. Shunfeng Tongcheng (09699) rose over 6%, with first-half performance expected to improve, as the company deeply integrates into the AI ecosystem. GenScript Biotech (01548) gained more than 5%, with AIDD amplification experiments validating demand, and analysts optimistic about the strengthening of the "water seller" logic.

Zhongji Innolight (03308) fell over 6% again, as AAOI's expansion plan sparked market concerns, though the company responded that its July order guidance remains in effect. Shenzhen International (00152) dropped more than 10%, expecting a mid-term loss of up to 240 million Hong Kong dollars, dragged down by fair value changes in investment properties.