Tech giants' rise boosted Nasdaq and S&P 500 to record highs. The Hang Seng Index opened up 25 points and rose 107 points to 18,043 points in early trading before falling back. It fell 81 points to 17,854 points in the afternoon and closed down 20 points or 0.1% to 17,915 points; The National Index fell 5 points or 0.1% to 6,368 points; The Hang Seng Tech Index fell by 12 points or 0.3% to 3,697 points. The total turnover of the market for the day was HKD 92.342 billion, with a net inflow of RMB 3.755 billion and RMB 4.222 billion through southbound transactions of Shanghai, Shenzhen and Hong Kong Stock Connect.
In the financial sector, HSBC (00005.HK) rose 0.5%, HKEX (00388.HK) and AIA (01299.HK) fell 0.5% each, and HKEX implemented bad weather suspension arrangements from September 23. CHEUG (00688.HK) and LONGFOR (00960.HK) fell by 2.5% and 3.2% respectively. The Baltic Dry Index remained high for a month, and shipping stocks including COSCO SHIPPING HOLDINGS (01919.HK), HAI PHONG (01308.HK) and ORIENT OVERSEAS INTERNATIONAL (00316.HK) rose by 3.9% to 5.5%.
Bajun sold over 1.34 million H shares of BYD COMPANY LIMITED (01211.HK), reducing its stake to 6.9%, and BYD's stock rose 0.1%. Zijin Mining (02899.HK) plans to raise a net of HKD 3.87 billion by offering a discount of approximately 5% on new shares, and issuing USD 2.0 billion convertible bonds, the stock fell 1.5%.
AI concept was popular, and chip stocks rose with overseas markets, SMIC (00981.HK) and HUA HONG SEMICONDUCTOR (01347.HK) rose by 3.2% and 3.8% respectively. Smartphone parts maker Sunwoda Electronic (02382.HK) discussed edge AI development on Investor's Day and its stock price rose 3.8%. Daiwa Securities released a report mentioning Apple AI beneficiary stocks, and AAC Technologies (02018.HK) was named and rose 2.5%. In addition, FIT HON TENG (02038.HK) and NETDRAGON (06088.HK) rose by 5.6% and 16.6%, respectively. Lenovo Group (00992.HK) also rose 3.6%.
In the network technology sector, Credit Suisse mentioned that Netease (09999.HK)'s "Fantasy Westward Journey" mobile game's self-adjusting system ecology caused negative effects and the stock fell 3.1%. Alibaba (09988.HK) fell 0.6%, Tencent (00700.HK) and Meituan (03690.HK) fell 1.1% and 1.5%, respectively. JD.com (09618.HK) and Kuaishou Technology (01024.HK) fell 0.2%, Baidu (09888.HK) fell 2.5%, and Bilibili (09626.HK) rose 3.1%. Auto stocks Ideal Motors (02015.HK) and Leapmotor (09863.HK) fell 3.1% and 3%, respectively. For consumer stocks, 759 Store (09922.HK) fell 4.1%, Haidilao (06862.HK), Yum China (09987.HK), and Tsingtao Brewery (00291.HK) fell more than 2%.
CHINA HONGQIAO GROUP LIMITED (01378.HK) rose by 4.4%, the largest rise among blue chips. Jingjin Financial (01468.HK) plans to raise HKD 247 million through a premium of 29.5% for new shares, and the stock rose 8.3% before closing down 3.6%. New stock Wuhan DDMC Culture Co Ltd (02881.HK) listed for the first day and it closed at 7.02 yuan, a 27.6% increase from the listing price of 5.5 yuan.