On October 7, 2024, the Hong Kong stock market saw significant gains across major indices. The Hang Seng Index (HSI) rose by 1.60%, the Hang Seng China Enterprises Index (HSCEI) increased by 2.14%, the Hang Seng Tech Index (HSTECH) surged by 3.05%, and the Hang Seng Composite Index (HSCCI) climbed by 3.54%.

The market was buoyed by strong performances in several sectors. The Asset Management & Custody Banks sector led the charge with a remarkable 26.93% increase, followed by Aerospace & Defense at 24.42%, Advertising at 20.16%, IT Consulting & Other Services at 15.45%, and Reinsurance at 13.16%.

Among individual stocks, BRAINHOLE TECH skyrocketed by an astonishing 275.94%, driven by the ongoing rally in semiconductor stocks, which have been bolstered by reduced semiconductor inventories in South Korea and positive outlooks from institutions. SENSETIME-W also saw a significant rise of 9.91%, while GALAXY ENT increased by 9.34%.

YUEXIU PROPERTY gained 6.98% after Morgan Stanley set a target price of HKD 5.48, citing the company's superior sales, profitability, and dividend prospects, supported by high-quality saleable resources and a strong land reserve pipeline.

Other notable gainers included CHINASOFT INT'L, which surged by 29.52%, and ZTE, which rose by 15.27%. CHINA JINMAO also performed well, increasing by 13.79%.

In the financial sector, CITIC saw a substantial increase of 12.88%, while CHINA RAILWAY rose by 11.30%. CHINA TAIPING gained 8.24%, and SMIC surged by 21.76%, continuing the strong performance of semiconductor stocks.

The brokerage sector also showed strength, with CICC rising by 23.11% and CMSC increasing by 28.54%.

Overall, the Hong Kong stock market experienced a robust trading day, with significant gains across various sectors and individual stocks, reflecting strong investor sentiment and positive market conditions.