I. Market Overview
Hong Kong shares closed broadly higher on Feb 9, with the three major indices finishing firmly in the green amid strength in AI chips, new listings and selective consumption names. The Hang Seng Index (HSI) rose 1.76% to 27,027.16, the Hang Seng China Enterprises Index (HSCEI) gained 1.52% to 9,168.33, and the Hang Seng Tech Index (HSTECH) advanced 1.34% to 5,417.60. Investor appetite was supported by the blockbuster debut of Montage Technology (06809) and continued momentum in Chinese AI names. Sector breadth improved markedly, with publishing, internet infrastructure, heavy electrical equipment, metals and leisure leading gains, while telecoms-linked and selected staples trailed.
Total market turnover reached HKD 255.14 billion. Additional highlights from intraday media: Chinese AI stocks extended gains (Knowledge Atlas, MiniMax, Fourth Paradigm higher), gold miners rose broadly, storage-related plays outperformed, and consumer-themed movers (e.g., Pop Mart) advanced. New listing interest remained robust as Montage Technology surged after a heavily oversubscribed offering.
II. Sector Performance
Large-cap Tech Stocks
Large-cap tech closed mostly higher: Tencent +2.28% (HKD 560.00), Alibaba +1.87% (HKD 157.90), Baidu +3.19% (HKD 142.20), SMIC +4.07% (HKD 70.35), while Kuaishou -2.74% (HKD 69.30) and Meituan -0.38% (HKD 91.05) lagged.
Top Performing Sectors
- Publishing (+7.70%): Sentiment buoyed by content/AI-related names and broader risk-on tone.
- Internet Services & Infrastructure (+6.36%): Follow-through buying as Chinese AI stocks extended gains intraday.
- Heavy Electrical Equipment (+5.89%): Equipment leaders rallied; Dongfang Electric featured among top gainers.
Bottom Performing Sectors
- Research & Consulting Services (-2.84%): Weakness on profit-taking after recent strength.
- Security & Alarm Services (-2.73%): Defensive pockets underperformed in a risk-on session.
- Food Distributors (-2.37%): Select staples and distributors lagged broader market gains.
III. Top 10 Gainers in Hong Kong Market Today
| Stock Name | Ticker | Price (HKD) | Daily Change |
|---|---|---|---|
| ZHONGMIAO-100 | 01471 | 39.52 | 101.12% |
| MONTAGE TECH | 06809 | 175.00 | 63.72% |
| KNOWLEDGE ATLAS | 02513 | 276.80 | 36.22% |
| CHONGQING M&E | 02722 | 2.63 | 17.41% |
| BAO PHARMA-B | 02659 | 129.60 | 16.76% |
| YOFC | 06869 | 104.70 | 15.31% |
| XUNCE | 03317 | 60.55 | 14.46% |
| DONGFANG ELEC | 01072 | 28.70 | 14.34% |
| FIT HON TENG | 06088 | 5.42 | 14.11% |
| CHINA EAST EDU | 00667 | 6.21 | 13.32% |
Filter: Market cap > USD 1B.
IV. Top 10 Losers in Hong Kong Market Today
| Stock Name | Ticker | Price (HKD) | Daily Change |
|---|---|---|---|
| REALORD GROUP | 01196 | 14.81 | -15.47% |
| JINXUN RESOURCE | 03636 | 37.66 | -4.90% |
| CHINA QINFA | 00866 | 3.88 | -4.67% |
| SHIYUE DAOTIAN | 09676 | 9.06 | -4.23% |
| EASTROC | 09980 | 258.00 | -3.87% |
| BJ ENT WATER | 00371 | 2.86 | -3.38% |
| ALLIED GROUP | 00373 | 2.97 | -3.26% |
| KUAISHOU-WR | 81024 | 61.30 | -3.16% |
| EDDING GENOR | 06998 | 2.76 | -3.16% |
| CHINA TELECOM | 00728 | 4.92 | -2.96% |
Filter: Market cap > USD 1B.
V. Closing Summary
1. Index performance and market context: Hong Kong equities strengthened for the session, led by AI chips, cyclicals and select consumer names. By the close, the HSI rose 1.76% to 27,027.16, the HSCEI added 1.52% to 9,168.33, and the HSTECH climbed 1.34% to 5,417.60. Turnover was a healthy HKD 255.14 billion, signaling improved participation. Intraday reports pointed to firm risk appetite across Asia and a supportive backdrop from overnight gains in U.S. large-cap tech and semis. Breadth was strong with most industry groups advancing, while defensives (telecoms, utilities-linked) and parts of staples underperformed.
2. Large-cap tech and AI: Heavyweights were broadly firmer. Tencent (+2.28%), Alibaba (+1.87%), Baidu (+3.19%), and foundry names like SMIC (+4.07%) outperformed, aided by headlines that Chinese AI stocks extended gains (Knowledge Atlas, MiniMax, Fourth Paradigm higher). Platform names were more mixed, with Kuaishou (-2.74%) and Meituan (-0.38%) lagging. Storage and semiconductor-linked momentum also spilled over as “storage shares” rose earlier in the day and a high-profile AI chip IPO drove incremental interest in the value chain.
3. Notable movers: New listing Montage Technology (06809) surged 63.72% on debut after a >700x retail oversubscription, reinforcing appetite for AI chip enablers. Other standouts included Knowledge Atlas (+36.22%), YOFC (+15.31%), Dongfang Electric (+14.34%), and China East Education (+13.32%). On the downside, Realord Group fell 15.47%, while China Qinfa (-4.67%) and Eastroc (-3.87%) weighed within their groups. Precious metals names advanced intraday (gold miners broadly higher), aligning with a sectoral uptick in the gold/silver complex. Consumer-themed “new consumption” movers (e.g., Pop Mart) also posted gains.
4. Sector and IPO developments: Sector leadership was anchored by Publishing (+7.70%), Internet Services & Infrastructure (+6.36%) and Heavy Electrical Equipment (+5.89%), reflecting follow-through interest in AI-adjacent software/infrastructure and equipment beneficiaries. Bottom groups included Research & Consulting Services (-2.84%), Security & Alarm Services (-2.73%) and Food Distributors (-2.37%). The strong reception for Montage Technology underscores resurgent demand for quality listings in AI hardware and data center ecosystems. Additionally, intraday disclosures spotlighted long-term capital activity in healthcare (GIC stake in Ascletis), reinforcing selective confidence in innovative pharma pipelines.
Sources: Public market data, summarized media reports
Disclaimer: This content is for reference only and does not constitute investment advice.