Hong Kong stocks fell on the first day after the holiday: Hang Seng Index and Hang Seng Technology Index both dropped more than 2%. Technology, energy, and real estate sectors all declined, while Evergrande's resumption of trading saw an increase of approximately 28%.

On Tuesday, October 3rd, the Hong Kong stock market weakened after the holiday, with the Hang Seng Index closing down 2.69%, hitting a new low since November last year. The Hang Seng Technology Index fell 2.63%, and the State-owned Enterprise Index fell 3.24%.

The market focus was on the resumption of trading for two stocks in the Evergrande Group. China Evergrande defied the trend and surged more than 40% at one point. Across the board, various sectors experienced a general decline, with energy, biomedicine, real estate, and automobile sectors leading the losses.

The total turnover of the market was HKD 86.1 billion, significantly higher than the previous trading day's HKD 67.7 billion.

China Evergrande Resumes Trading and Rises Against the Trend

Today, the Evergrande Group resumed trading. As of the time of writing, China Evergrande opened with a 9% increase and continued to rise, with the increase reaching over 40% at one point. It closed at a 28% increase, after falling from its peak. Last week, the stock had fallen more than 40%, while Evergrande Property fell more than 3%.

In terms of news, China Evergrande and Evergrande Property announced that they had applied to the Stock Exchange of Hong Kong to resume trading at 9:00 am on October 3rd. It is worth noting that Evergrande Auto, another one of the "three pillars" of the Evergrande Group, has not yet announced the resumption of trading.

Real Estate Stocks Decline

Real estate stocks and property management service stocks fell, with Sunac China falling nearly 7%, Country Garden falling over 7%, Longfor Group falling over 6%, China Overseas Development falling 3%, and China Resources Land falling about 9%.

Most Technology and Automobile Stocks Decline

Most technology stocks declined, with Meituan and JD Health falling over 4%, and JD, Baidu, and Ctrip following suit.

Automobile stocks collectively declined, with BYD's September sales increasing by 43% YoY, but its stock price fell by 3% at one point. Great Wall Motors fell over 5%, NIO fell over 5%, and XPeng fell 0.64%.

Energy Stocks Lead the Decline

Affected by the decline in international oil prices, energy stocks fell. The three major oil companies collectively declined, with PetroChina falling about 5%, Sinopec falling over 5%, CNOOC falling over 3%, and Ganfeng Lithium falling over 7%.