Hong Kong's three major stock indices closed in positive territory on Friday.

The benchmark Hang Seng Index advanced 1.14% to finish at 23,616.32 points.

The Hang Seng Tech Index gained 0.94%, while the Hang Seng China Enterprises Index rose 1.46%.

Technology and internet stocks were broadly higher.

Shares of KUAISHOU-W surged more than 7%.

Meituan and Tencent both added over 4%, while Bilibili climbed more than 2%.

Pork-related stocks were among the top gainers, with Muyuan Foods Co., Ltd. rising over 3%.

Power equipment stocks were active, with Dongfang Electric Corporation jumping more than 6%.

In contrast, the optical communication and PCB sectors suffered significant losses.

Changfei Optical Fiber & Cable Co., Ltd. plummeted over 14%, and Kingboard Laminates Holdings Ltd. tumbled more than 12%.

Pork Stocks Gain Ground

Pork-related stocks performed well, led by Muyuan Foods Co., Ltd. which gained over 3%.

After two months of decline, hog prices have staged a notable rebound in July, with the upward trend continuing.

The main continuous futures contract for live hogs rose by more than 3% during early trading on Friday, reaching 12,700 yuan per ton, its highest level since September of 2025.

Spot prices also moved higher.

The national average price for standard outbred hogs reached 5.34 yuan per 500 grams on July 5th, an increase of 0.10 yuan from the previous day.

Prices rose in 21 regions, with only one region recording a decline.

The recovery in hog prices has directly boosted market expectations for improved profitability among pig farming and processing companies.

Power Equipment Sector Shows Strength

Power equipment stocks were active, with Dongfang Electric Corporation climbing over 6%.

The surge in demand for AI computing power, combined with the acceleration of global power grid upgrades, is driving the power equipment industry into a new growth cycle.

The latest report from the International Energy Agency estimates that global investment in electricity supply and infrastructure will approach $1.6 trillion by 2026.

Within this, investment in power grids is expected to be close to $550 billion, representing a year-on-year increase of nearly 20%.

Optical Communication and PCB Shares Tumble

The optical communication and PCB sectors experienced a collective sharp decline.

Changfei Optical Fiber & Cable Co., Ltd. plunged more than 14%, and Kingboard Laminates Holdings Ltd. dropped over 12%.

Semiconductor industry research firm SemiAnalysis published a series of articles on social media on Friday morning, indicating that Nvidia's Kyber NVL144 rack architecture may face delays.

The firm stated, "Just three months after Jensen Huang showcased Kyber NVL144 at GTC, the product has encountered a significant setback and has been delayed by more than 12 months, pushing its launch to 2028."

The research firm attributed the product delay to "significant challenges remaining in the manufacturing process of the PCB's midplane."