Hong Kong’s Hang Seng Index rises 2% to 25,580.01

Hong Kong’s Hang Seng Index rises 2% to 25,580.01

The Hong Kong stock market experienced robust midday gains on August 29, with all three major indices rising. The Hang Seng Index (800000.HK) surged by 0.63%, the Hang Seng TECH Index (800700.HK) increased by 0.56%, and the Hang Seng China Enterprises Index (800100.HK) rose by 0.68% [1].

As of the midday close, 1,098 stocks in the Hong Kong market rose, 947 fell, and 1,124 remained unchanged. Technology stocks led the charge, with Baidu Group-SW (800100.HK) increasing by 3.18%, JD.com Group-SW (800100.HK) rising by 2.60%, and Alibaba-W (800100.HK) climbing by 0.69%. Gold stocks also performed exceptionally well, with Lingbao Gold (800100.HK) surging by 15.62% and China Gold International (800100.HK) rising by 10.23%. Biotechnology stocks saw a significant increase, with Rongchang Bio (800100.HK) rising by 13.30% and Wuxi Bio (800100.HK) climbing by 6.64%.

Non-ferrous metal stocks and pharmaceutical stocks also showed strong performances, with Jiangxi Copper Co. (800100.HK) rising by 10.18% and Innovent Bio (800100.HK) increasing by 6.89%. Semiconductor stocks, however, generally declined, with Shanghai Fudan (800100.HK) falling by 5.88% and Hua Hong Semiconductor (800100.HK) decreasing by 5.51%.

Individual stocks also made notable gains, with TRIP.COM-S (09961.HK) increasing by over 5% and reaching a new high for the year. ANGELALIGN (06699.HK) rose by over 7% and MEDBOT-B (02252.HK) increased by over 8%. BEIGENE (06160.HK) surged by over 4% and CATL (03750.HK) rose by over 7%. ZHAOJIN MINING (01818.HK) reached a record high, rising over 6%, and ZIJIN MINING (02899.HK) increased by over 4%. VOBILE GROUP (03738.HK) rose by over 8% and DONGYUE GROUP (00189.HK) increased by over 4%.

The top 10 half-day trading volumes were led by the aforementioned stocks, showcasing significant investor interest.

References:
[1] https://news.futunn.com/en/post/61365476/hong-kong-stock-market-midday-review-all-three-major-indices