China and the U.S. agreed to mutually reduce tariffs for 90 days and cancel retaliatory tariffs, leading to a significant rise in the Hong Kong stock market. The Hang Seng Index opened 316 points higher and further increased after announcing relevant details in the afternoon, reaching a high of 23,685 points with an increase of 817 points, closing up 681 points or 3% at 23,549 points; the National Index rose 250 points or 3%, closing at 8,559 points; the Hang Seng TECH Index rose 267 points or 5.2%, closing at 5,447 points. The total market turnover for the day was 322.426 billion HKD.
Export-related stocks surged, with Techtronic Industries (00669.HK) and Shenzhou (02313.HK) rising by 6.7% and 3.5%. Home Appliances stocks, HAIER SMARTHOME (06690.HK) and HISENSE HA (00921.HK), increased by 8.3% and 10%, and Midea (00300.HK) rose by 4.1%. Smartphone-related stocks Gawei (01415.HK) rose by 18.5%, and Sunny Optical (02382.HK), AAC Technologies (02018.HK), Qutai (01478.HK), Hongteng (06088.HK), and BYD Electronics (00285.HK) rose between 13.4% and 15.4%. Personal computer manufacturer LENOVO GROUP (00992.HK) rose by 9.6%. Photovoltaic stocks XINTE ENERGY (01799.HK), GCL TECH (03800.HK), and XINYI SOLAR (00968.HK) rose by 6% to 6.3%.
In the Technology sector, Alibaba (09988.HK), JD.com (09618.HK), Kuaishou (01024.HK), and Bilibili (09626.HK) rose by over 6%, while Tencent (00700.HK) and Baidu (09888.HK) rose by 4.6% and 5%, respectively. NetEase (09999.HK) and Meituan (03690.HK) increased by 3.2% and 2.5%, while Xiaomi (01810.HK) dropped by 1.5%. Additionally, Weimob (02013.HK) rose by 7.7%, and Chinasoft (00354.HK), GDS Holdings (09698.HK), ALI HEALTH (00241.HK), and Kingsoft Cloud (03896.HK) rose between 5.7% and 6.9%. SenseTime (00020.HK), Horizon Robotics (09660.HK), and Chinasoft (00354.HK) increased by over 4%, while SMIC (00981.HK) rose by 3.4%. In the automotive sector, XPeng (09868.HK) rose by 10.6%, while NIO (09866.HK) and Li Auto (02015.HK) and BYD (01211.HK) all rose by over 7%.
Tourism-related stocks performed well, with China Southern Airlines (01055.HK), China Eastern Airlines (00670.HK), Trip.com (09961.HK), and SAMSONITE (01910.HK) rising by 5.2% to 6.3%. Air China (00753.HK) rose by 4.1%. Casino stocks, Melco International (00200.HK) and Silver (00027.HK), rose by 6.9% and 4.2%, respectively. In other Consumer stocks, MINISO (09896.HK) rose by 4.7%, while NONGFU SPRING (09633.HK) and Budweiser (00291.HK) rose by 3.5%. Some pharmaceutical stocks declined, with Stone Pharma (01093.HK) experiencing a 4.2% drop after its new drug SYH2046 received FDA approval for clinical trials. Kangfang Bio (09926.HK), Hansen (03692.HK), and INNOVENT BIO (01801.HK) fell by 5.7% to 7.4%, while BEIGENE (06160.HK) dropped by 9%.
In the financial sector, HSBC (00005.HK), AIA (01299.HK), and Hong Kong Stock Exchange (00388.HK) rose by 2.7% to 3.4%, while Standard Chartered (02888.HK) rose by 4.1%, and China Merchants Bank (03968.HK) and CHINA TAIPING (00966.HK) increased by 5.8% and 6.2%, respectively. Mainland Real Estate stocks, Xuhui (00884.HK) and Agile (03383.HK), rose by over 6%, while New World (01030.HK), Vanke (02202.HK), and Longhu (00960.HK) rose by over 4%. Property management stocks, Beifeng (06098.HK), rose by 7.6%.
Gold stocks fell, with SD GOLD (01787.HK) and Zhaojin (01818.HK) dropping by 6.4% and 7.5%, while Lingbao (03330.HK) dropped by 11.2%. Other Commodity stocks rose, with MMG (01208.HK), Chinalco (02600.HK), and Luoyang Molybdenum (03993.HK) increasing by over 6%, and oil stocks CNOOC (00883.HK) and Sinopec (00386.HK) rising over 2% alongside the increase in oil prices.
