Major Hong Kong stock indices closed higher, buoyed by weaker-than-expected US jobs data that alleviated immediate concerns over further interest rate hikes.

The Hang Seng Index rose 1.28% or 295 points to close at 23,350.03, with the day's turnover reaching HK$304.95 billion. The Hang Seng TECH Index gained 1% to finish at 4,499 points, while the Hang Seng China Enterprises Index advanced 1.15% to 7,699.76.

Looking ahead, some analysts suggest the Hong Kong market could resume an upward trajectory in the second half of 2026, with one firm setting a target of 28,000 for the Hang Seng Index. However, risks remain from global geopolitical shifts, US monetary policy, supply chain restructuring, and inflation. For sector allocation, a focus on artificial intelligence, innovative pharmaceuticals, power equipment, and domestic consumption is recommended.

Key Market Movers

Blue-chip stocks were led higher by gains in the resources sector. Shares of Zijin Mining (02899) surged 9.01% to HK$30.72, contributing 23.27 points to the index, as weaker US employment data pushed COMEX gold above $4,200 per ounce. The World Gold Council noted that gold remains one of the top-performing assets over the past year, with prices expected to stabilize and continue reflecting global macroeconomic conditions.

Other notable blue-chip performers included Hansoh Pharmaceutical (03692), which rose 7.6% to HK$33.70, and BYD Company (01211), up 7.41% to HK$84.10. On the downside, SMIC (00981) fell 3.48% to HK$77.60, while Contemporary Amperex Technology Co., Limited (03750) edged down 0.81% to HK$675.50.

Top Performing Sectors

Robotics and automation stocks were standout performers after Unitree Robotics received approval for its IPO registration, fueling optimism for the sector's commercial prospects. Lifu Harmonic (03952) soared 44.95% to HK$94.00. Estun Automation (02715) jumped 33.09% to HK$25.50, and UBTECH Robotics (09880) climbed 17.6% to HK$108.90. Analysts view the IPO as a milestone for the commercialization of humanoid robots, with upstream components like reducers and sensors expected to benefit first from increased production.

Gold stocks rallied across the board following the disappointing US jobs report and dovish comments from a Federal Reserve official, which eased rate hike fears. Chifeng Jilong Gold Mining Co., Ltd. (06693) surged 19.13% to HK$30.26. Lingbao Gold Company Ltd. (03330) advanced 16.21% to HK$15.77, and Zhaojin Mining Industry Company Limited (01818) gained 10.24% to HK$19.17.

Copper producers also posted strong gains. China Nonferrous Mining Corporation Limited (01258) rose 10.02% to HK$12.52, while Zijin Mining (02899) was among the top gainers. MMG Limited (01208) increased 5.65% to HK$7.29. Analysts suggest the recent pullback in copper stocks was a valuation mispricing, with potential for a rebound driven by tight supply conditions and low inventories.

Notable Individual Stock Actions

Shares of Lifu Harmonic (03952) surged to reclaim their IPO price, closing at HK$94.00. The company is a key Chinese supplier of precision transmission components for robots and is one of only two domestic manufacturers to have delivered and mass-produced harmonic reducers for humanoid robots.

Yidu Tech (02158) continued its strong post-earnings performance, rising 6.16% to HK$5.17. The company reported its first annual profit for the fiscal year ending March 2026, with net profit exceeding the upper end of its guidance range.

In contrast, Poly Property Group (00119) fell 5.59% to HK$1.52 after issuing a profit warning. The company expects to report a significant loss for the first half of the year, compared to a profit a year ago, citing reduced revenue recognition and pressure on property sector margins.