Hong Kong Stock Market Midday Review | Indices Rise Broadly, Zhipu Soars 32% Leading the AI Sector, Resilience of Tech Giants Evident

LB Select
2026.04.01 04:02

Today, Hong Kong stocks showed steady performance at noon, with all three major indices rising. The Hang Seng Index increased by 1.97% to 25,276.65 points, while the Hang Seng Tech Index and the China Enterprises Index recorded gains of 1.58% and 1.55%, respectively. On the market, artificial intelligence concept stock Zhipu (2513.HK) became the market focus with an astonishing increase of 31.87% and a trading volume exceeding HKD 3.6 billion, driving the TMT sector to become collectively active; internet giants Tencent Holdings and Alibaba also strengthened, demonstrating the defensive resilience of core assets

Market Overview

▪ In the afternoon session, all three major indices of the Hong Kong stock market fell.

▪ As of the afternoon, the Hang Seng Index reported 25,276.65 points, up 1.97%, with still some downward space from the previous high.

▪ The Hang Seng Tech Index closed at 4,723.47 points in the afternoon, up 1.58%, failing to reach a new high.

▪ The China Enterprises Index reported 8,503.98 points in the afternoon, up 1.55%.

Sector Performance

▪ The new economy and internet sectors showed structural opportunities against the market trend, with Tencent Holdings rising 2.56%, the latest transaction price at HKD 496.40, as funds continued to flow in during the morning session, becoming a leader in resilience. Alibaba-W rose 2.86%, the latest transaction price at HKD 122.40, with funds showing active positioning, indicating that some mainstream tech leaders are gaining attention despite pressure.

▪ The artificial intelligence and innovative technology concepts performed impressively, with Zhizhu rising 31.87% during the session, the latest transaction price at HKD 914.50, with a transaction volume of HKD 3.656 billion, frequent large trades, and strong capital lifting performance far exceeding other sectors, driving activity in TMT and related upstream and downstream.

▪ The energy and traditional cyclical sectors faced significant pullback pressure, with China National Offshore Oil Corporation down 1.29% and BYD Company down 2.74%, indicating a general contraction in market risk appetite, with some cyclical and new energy leaders under short-term pressure and significant outflows of main funds.

▪ The TMT consumer and high-growth sectors showed clear differentiation, with Pop Mart rising 3.48%, the latest transaction price at HKD 148.60, with short-term capital inflow. In contrast, Meituan-W fell 2.35%, while Yangtze Optical Fibre and Cable rose slightly by 1.48%, showing that funds maintain a certain focus on high-growth and thematic targets, but volatility at high levels has intensified.

▪ In the semiconductor and hardware sector, SMIC rose 3.65%, the latest transaction price at HKD 52.55, with funds focusing on foundational technology manufacturing. Although the sector overall did not stop the market's decline, structural opportunities are still being explored by funds.

Macroeconomic Background

▪ Recently, macro indicators in the Hong Kong stock market have shown that changes in the annual import rate are receiving attention, reflecting the impact of external demand fluctuations on the local market. Investors need to closely monitor policy dynamics and changes in the global economic environment, which directly affect the trend of Hong Kong stocks, and it is recommended to pay attention to industry rotation and foreign trade sector performance in the short term.

Popular Stocks

▪ Tencent Holdings rose 2.56%, with a transaction volume of HKD 4.851 billion. Continuous capital inflow allowed it to rise against the market downturn, demonstrating the resilience of core assets.

▪ Zhizhu surged 31.87% during the session, the latest transaction price at HKD 914.50, with a transaction volume of HKD 3.656 billion. This stock became the biggest highlight of the day, with main funds aggressively accumulating, strongly driving the overall tech sentiment.

▪ Alibaba-W rose 2.86%, the latest transaction price at HKD 122.40, with a transaction volume of HKD 3.687 billion. The tech leader received incremental funds, performing well under short-term pressure.

▪ SMIC rose 3.65%, the latest transaction price at HKD 52.55, with a transaction volume of HKD 1.998 billion. Funds are focusing on high-end manufacturing, with active short-term performance ▪ Pop Mart rose by 3.48%, with a transaction amount of HKD 2.817 billion. The strength of consumer growth is reflected, attracting event-driven funds for speculation.

Market Transaction Amount TOP10

▪ Tencent Holdings (700.HK) rose by 2.56%, with a transaction amount of HKD 4.851 billion, latest transaction price HKD 496.40

▪ Alibaba-W (9988.HK) rose by 2.86%, with a transaction amount of HKD 3.687 billion, latest transaction price HKD 122.40

▪ Zhipu (2513.HK) rose by 31.87%, with a transaction amount of HKD 3.656 billion, latest transaction price HKD 914.50

▪ Yangtze Optical Fibre and Cable (6869.HK) rose by 1.48%, with a transaction amount of HKD 3.099 billion, latest transaction price HKD 185.70

▪ China National Offshore Oil Corporation (883.HK) fell by 1.29%, with a transaction amount of HKD 2.979 billion, latest transaction price HKD 27.64

▪ Pop Mart (9992.HK) rose by 3.48%, with a transaction amount of HKD 2.817 billion, latest transaction price HKD 148.60

▪ Xiaomi Group-W (1810.HK) rose by 0.31%, with a transaction amount of HKD 2.717 billion, latest transaction price HKD 31.86

▪ BYD Company (1211.HK) fell by 2.74%, with a transaction amount of HKD 2.421 billion, latest transaction price HKD 102.90

▪ Meituan-W (3690.HK) fell by 2.35%, with a transaction amount of HKD 2.081 billion, latest transaction price HKD 81.00

▪ Semiconductor Manufacturing International Corporation (981.HK) rose by 3.65%, with a transaction amount of HKD 1.998 billion, latest transaction price HKD 52.55

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