State-owned enterprise China New Investment subscribed for the first share of China Securities State-new Strategic Port Hong Kong Stock Connect CSI Central State-Owned Enterprises Dividend ETF, and the Hong Kong stock market rose driven by the concept of China Securities State-new Strategic Port. The Hang Seng Index opened high by 140 points and expanded its gains, rising 537 points to 18,448 points and closing at 18,430 points, up 514 points or 2.9% the entire day; The National Index rose 219 points or 3.5%, closing at 6,587 points; Hang Seng Tech Index rose 135 points or 3.7%, closing at 3,832 points. The total turnover of the market throughout the day was 112.758 billion yuan, and the net inflow of southbound trading of Shanghai, Shenzhen, and Hong Kong Stock Connect was 2.571 billion and 2.65 billion yuan respectively.
Mainland real estate stocks rose with the concept of China Securities State-new Strategic Port. Among the China mainland banking stocks, Bank of China (00939.HK), Agricultural Bank of China (01288.HK), ICBC (01398.HK), and CCB (03988.HK) rose 3.2% to 3.7%, while China Merchants Bank (03968.HK), Postal Savings Bank of China (01658.HK), and Bank of Communications (03328.HK) rose more than 4%. In the oil stocks, Sinopec (00386.HK) rose 3.4%, while PetroChina (00857.HK) and CNOOC (00883.HK) rose 4.5% and 5.8% respectively, and China Oilfield Services (02883.HK) of the oil service stocks rose 4.8%.
Coal industrial concept stocks rose. In the main building materials stocks, China National Building Material (03323.HK) rose 3.2%, and mainland real estate stocks China Overseas Land (00688.HK) and Shimao Property (01109.HK) rose 3.7% and 3%, respectively. Telecommunications stocks China Unicom (00762.HK) rose 3.1%. Infrastructure stocks China State Construction Engineering (01800.HK) rose 3.4%. Shares of China National Pharmaceutical Group Corp (01177.HK) and China National Medicines Corporation Ltd. (01099.HK) rose 3.3% and 5.7% respectively.
Network technology stocks rose. Alibaba (09988.HK), Tencent (00700.HK), and NetEase (09999.HK) rose 2.9% to 3.4%. Meituan (03690.HK) and Xiaomi (01810.HK) rose 5.6% and 6.3% respectively, while JD.com (09618.HK) and Baidu (09888.HK) rose 2% and 2.3%. Bilibili (09626.HK) received an investment rating upgrade and target price adjustment from Morgan Stanley, citing the Three Kingdoms mobile game becoming a 'hit', causing a surge of nearly 19% in stock price. Weimob Inc. (02013.HK), Tencent Music Entertainment Group (01698.HK), Alibaba Health Information Technology Ltd. (00241.HK), and PA Gooddoctor Ltd. (01833.HK) also rose 3.9% to 5.3%.
AI concept stocks Lenovo Group (00992.HK) rose by 9%, while CStone Pharmaceuticals (00020.HK) and Meitu (01357.HK) also surged by 6.7% and 8.9%, respectively. Car stocks Geely (00175.HK), NIO Inc. (02015.HK), CACC (02333.HK), and XPeng Inc. (09868.HK) rose 3.9% to 5.3%, while BYD Company Limited (01211.HK) rose 1.9%.
Metal resource stocks rose with the concept of China Securities State-new Strategic Port. Zijin Mining Group Co., Ltd. (02899.HK) and Jiangxi Copper Company Limited (00358.HK) rose 2.9% and 3.6%, while Zhaojin Mining Industry Company Limited (01818.HK), China National Gold Group Corporation (02099.HK), and Lingbao Gold Group Company Ltd. (03330.HK) rose 4.4% to 4.5%, and MMG Limited (01208.HK) and China Molybdenum Co Ltd (03993.HK) rose more than 5%.
In other stocks, HSBC Holdings plc (00005.HK) rose 0.9%, Hong Kong Exchanges and Clearing Limited (00388.HK) and AIA Group Limited (01299.HK) rose 2.8% and 2%, respectively.