HSI1 23,093.37 +158.69 249.78B
HSCEI1 7,756.25 +67.06 87.14B
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HSI Gains 132 Pts at Half-day in Choppy Trade, XIAOMI-W (01810.HK) Jumps 5%, CATL (03750.HK) Ends 7-Day Losing Streak, LENOVO GROUP (00992.HK) Slides Another 3% Against Market
2026-10-23 12:39:52
US stocks showed mixed performance overnight (22nd). US 10-year Treasury yields plunged, with the DJIA rising 11 pts while the Nasdaq closed down 2.6%. Hong Kong stocks opened 93 pts higher this morning (23rd), reclaiming the 23,000 mark. However, the market was volatile in early trading and once turned lower by more than 100 pts, hitting a trough of 22,803 before stabilizing. The HSI closed the half-day at 23,066, up 132 pts or 0.58%, with main board turnover at HKD125.648 billion. The HSCEI stood at 7,760, up 71 pts or 0.93%, while the HSTECH rose 32 pts or 0.86% to 3,826.

The three major ATM stocks declined against the market trend. BABA-W (09988.HK) fell another 0.46% this morning after losing the HKD100 mark yesterday. TENCENT (00700.HK) dropped 0.47%, while MEITUAN-W (03690.HK) slipped 0.21%. Among other tech stocks, KUAISHOU-W (01024.HK) gained 1.05%, JD-SW (09618.HK) added 1.73%, while XIAOMI-W (01810.HK) rebounded sharply by 5.04%, making it the best-performing blue chip at midday.

As presales for the Double 11 shopping festival kicked off, consumer and domestic demand stocks attracted capital inflows. MAO GEPING (01318.HK) surged 6.13%, BLOKS (00325.HK) rose 6.41%, MNSO (09896.HK) gained 4.12%, and POP MART (09992.HK) advanced 2.18%. NONGFU SPRING (09633.HK) and MENGNIU DAIRY (02319.HK) both climbed more than 3%.

CATL (03750.HK) ended its seven-session losing streak. After opening down 3.66% this morning, the stock reversed course and gained 4.43% by midday. GANFENGLITHIUM (01772.HK) rose 1.1%, while CALB (03931.HK) advanced 2.09%.

Among AI model stocks, MINIMAX-W (00100.HK) rebounded from its post-listing low, rising 4.11% by midday. The company open-sourced the MiniMax M3.1 Flash model weights, while Citi was optimistic on the surge in AI short drama supply in Mainland China.

Meta Platforms, Inc. (META.US)'s capital expenditure sparked market concerns over AI investment and returns, dragging chip stocks lower alongside external markets. HUA HONG GRACE (01347.HK) fell 2.7%, SMIC (00981.HK) dropped 1.58%, MONTAGE TECH (06809.HK) declined 1.25%, and ILUVATAR COREX (09903.HK) slid 2.39%.

Among other blue chips, LENOVO GROUP (00992.HK) tumbled another 3.28% to HKD22.38, making it the worst-performing blue chip. Despite issuing a positive profit alert, CHOW TAI FOOK (01929.HK) still fell nearly 3% by midday, with UBS saying its second fiscal quarter sales were weak. CHINA TELECOM (00728.HK) dropped nearly 1% after Citi said its 3Q net profit missed expectations. HANSOH PHARMA (03692.HK) gained 3.58%.

Spot gold once fell below USD4,000 per ounce, weighing on gold miners. ZIJIN GOLD INTL (02259.HK) and LINGBAO GOLD (03330.HK) both fell more than 2%, while SD GOLD (01787.HK) slipped nearly 1% and ZIJIN MINING (02899.HK) edged down 0.14%. ZIJIN MINING announced yesterday that it had officially completed the controlling stake acquisition settlement of Chifeng Gold, obtaining control of the company. Chifeng Gold rose 1.2% by midday.

EVERG SERVICES (06666.HK) fell 7.4% by midday to HKD1.07, with turnover surging to HKD41.27 million. REALORD TECH (01196.HK), which plunged nearly 90% yesterday, closed the half-day at HKD0.34, rebounding 23.64% with turnover of HKD654 million after more than 81 million shares held by its executive director were forcibly sold yesterday. (mn/da)~

AASTOCKS Financial News
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This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.