Hong Kong stocks closed lower | All three major indices fell, with the Tech Index dropping 4.13% leading the decline, technology and semiconductor sectors plummeted; Alibaba fell 4.16%, SMIC crashed 7.31%

LB Select
2025.10.17 08:00
portai
I'm PortAI, I can summarize articles.

The three major indices of the Hong Kong stock market fell sharply today, with the Hang Seng Tech Index leading the decline by over 4%. The technology and semiconductor sectors dropped, influenced by fluctuations in external markets and weak demand, with leading stocks Alibaba and SMIC showing significant declines. More than 1,600 stocks in the entire market fell, indicating a sharp decrease in investors' risk appetite. Funds are flowing heavily into defensive and high-dividend sectors, with macroeconomic uncertainty and global liquidity becoming important variables affecting the market

Current Situation of the Three Major Indices

  • Hang Seng Index (HSI.HK): down 2.51%
  • Hang Seng China Enterprises Index (HSCEI.HK): down 2.70%
  • Hang Seng Tech Index (HSTECH.HK): down 4.13%

A total of 339 stocks rose, 1689 stocks fell, and 690 stocks closed flat.

Technology Sector

The technology sector faced significant pressure today, mainly due to the sharp decline in international tech stocks and a decrease in market risk appetite, with mainstream funds continuing to flow out, leading to a short-term risk-averse sentiment.

  • Alibaba (9988.HK): down 4.16%, with a turnover of HKD 19.389 billion. The company's e-commerce growth outlook has been downgraded, facing both restructuring and cost pressure, with funds continuing to flow out of the sector.
  • Tencent Holdings (700.HK): down 1.85%, with a turnover of HKD 10.145 billion. Short-term growth in gaming and advertising businesses is under pressure, and the decline in external tech stocks has raised investor concerns, suppressing stock prices due to fund outflows.
  • Meituan (3690.HK): down 4.30%, with a turnover of HKD 6.483 billion. Weak recovery in consumer demand, slowdown in commission and delivery businesses, and downward revisions of industry expectations have intensified market caution.

Semiconductor Sector

The semiconductor sector suffered a heavy blow, impacted by global demand contraction and inventory pressure, with continuous fund outflows from the sector, facing significant short-term adjustment pressure.

  • SMIC (981.HK): down 7.31%, with a turnover of HKD 11.372 billion. Weakening global demand for semiconductors and downgraded profit expectations, along with supply chain and dollar fluctuations, further exacerbate performance pressure.
  • Hua Hong Semiconductor (1347.HK): down 7.24%, with a turnover of HKD 5.148 billion. International market volatility, declining mid-to-low-end demand, and export restrictions have dragged down performance, with heightened risk-averse sentiment among investors.
  • ZTE Corporation (763.HK): down 12.97%, with a turnover of HKD 3.578 billion. Export and new product promotion face bottlenecks, and confidence is affected by policy and trade frictions, leading to continued reduction in long positions.

Retail Sector

The retail sector is on a downward trend, with weakened consumer confidence and disappointment in the pace of economic recovery, leading to intensified fund outflows.

  • Pop Mart (9992.HK): down 4.37%, with a turnover of HKD 4.302 billion. Weak demand for cultural and creative consumption, along with a decline in retail in mainland China, is impacting profitability, increasing investor caution
  • BYD Company Limited ( 1211.HK ): down 4.00%, trading volume HKD 2.999 billion. The decline in new energy subsidies affects industry growth, and discrepancies in exports and orders drag down performance, with the latest sales guidance falling short of expectations.
  • Xiaomi Group ( 1810.HK ): down 3.65%, trading volume HKD 11.738 billion. Slowing smartphone shipments and intensified overseas competition, along with declining demand for consumer electronics, lead to continued capital reduction.

Market Focus

  • The market continues to focus on the Federal Reserve's policy path and global liquidity tightening, with rising interest rate trends and expectations for funding costs.
  • Consumer and technology sentiment in mainland China and Hong Kong has declined, reflecting ongoing pressures on macroeconomic recovery, leading to increased investor caution.
  • Overseas tech giants' earnings reports fall short of expectations, compounded by geopolitical and liquidity disturbances, which resonate to suppress the valuation performance of growth and cyclical sectors, with capital flowing into safe-haven assets.

Top Ten Stocks by Trading Volume

  1. Alibaba ( 9988.HK ), closing price HKD 154.50, down 4.16%, trading volume HKD 19.389 billion
  2. Xiaomi Group ( 1810.HK ), closing price HKD 45.96, down 3.65%, trading volume HKD 11.738 billion
  3. SMIC ( 981.HK ), closing price HKD 68.50, down 7.31%, trading volume HKD 11.372 billion
  4. Tencent Holdings ( 700.HK ), closing price HKD 608.50, down 1.85%, trading volume HKD 10.145 billion
  5. Meituan ( 3690.HK ), closing price HKD 94.50, down 4.30%, trading volume HKD 6.483 billion
  6. Hua Hong Semiconductor ( 1347.HK ), closing price HKD 75.55, down 7.24%, trading volume HKD 5.148 billion
  7. Pop Mart ( 9992.HK ), closing price HKD 275.60, down 4.37%, trading volume HKD 4.302 billion
  8. ZTE Corporation ( 763.HK ), closing price HKD 37.44, down 12.97%, trading volume HKD 3.578 billion
  9. Hong Kong Stock Exchange ( 388.HK ), closing price HKD 414.60, down 2.31%, trading volume HKD 3.141 billion
  10. BYD Company Limited (1211.HK), closing price HKD 103.30, down 4.00%, trading volume HKD 2.999 billion
Source: LB Select The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.