"Hong Kong Stocks" Hang Seng Index rises 605 points in half a day, with export, technology, and commodity stocks up; AI and robotics stocks pull back

The U.S. Supreme Court rejected Trump's reciprocal tariffs, leading to a significant rise in Hong Kong stocks in the early market. The Hang Seng Index opened up 385 points, once rising 742 points to a high of 27,156 points, and at midday rose 605 points or 2.3% to 27,019 points; the Hang Seng China Enterprises Index rose 224 points or 2.5% to 9,183 points; the Hang Seng Tech Index rose 173 points or 3.3% to 5,384 points. The total turnover of the market at midday was HKD 106.45 billion.

Export stocks such as Techtronic Industries (00669.HK) and Shenzhou International (02313.HK) rose 3.4% and 4.2%, respectively, while QuanFeng (02285.HK) rose 5.3%. Mobile component stocks BYD Electronic (00285.HK) and Sunny Optical (02382.HK) rose 3.5% and 4%, while Q Technology (01478.HK) and AAC Technologies (02018.HK) rose 6.8% and 5.1%. Pharmaceutical stocks WuXi Biologics (02269.HK) and WuXi AppTec (02359.HK) rose 3% and 2.2%, respectively, while Kanglong Chemical (03759.HK) rose 3.6%. E-commerce stocks Alibaba-W (09988.HK) and JD.com-SW (09618.HK) rose 3.6% and 4.2%.

The decline of the U.S. dollar triggered a rise in commodity stocks, with Shandong Gold (01787.HK), Zhaojin Mining (01818.HK), Zijin Mining (02899.HK), and Lingbao Gold (03330.HK) rising 5.1% to 5.8%. China Silver (00815.HK), China Gold International (02099.HK), and Zijin Gold International (02259.HK) rose 6.4% to 6.9%. Jiangxi Copper (00358.HK) and Minmetals Resources (01208.HK) rose 5% and 7.1%. Gold retail stock Lao Pu Gold (06181.HK) rose 3.2%.

In other technology stocks, Tencent (00700.HK) rose 3.4%, with a turnover of HKD 6.877 billion, making it the most active stock; Meituan-W (03690.HK) rose 6.9%, while NetEase-S (09999.HK), Kuaishou-W (01024.HK), Bilibili-W (09626.HK), and Baidu-SW (09888.HK) rose between 2.5% and 3.2%. In the chip sector, SMIC (00981.HK) and Hua Hong Semiconductor (01347.HK) rose 4.5% and 4.8%. Innovent Biologics (02577.HK) and Bairun (06082.HK) rose 7.9% and 8.9%. Chip equipment stock ASMPT (00522.HK) rose 5.7%. Wire stock Changfei Fiber Optics (06869.HK) rose 15.8%. Automotive stocks BYD (01211.HK), Li Auto-W (02015.HK), Leapmotor (09863.HK), Nio-SW (09866.HK), and Seres (09927.HK) rose between 3.3% and 4.3%, while Xiaomi-W (01810.HK) rose 2.8% Lithium stock Ganfeng (01772.HK) and battery stock Zhongchuang Xinhang (03931.HK) rose 7.9% and 5.5%.

AI model stocks retreated, with Zhipu (02513.HK) apologizing for issues related to the GLM Coding Plan, causing the stock to drop 23.7%. MiniMax-WP (00100.HK) fell 10.5%. Robotics stocks Yujian (02432.HK) and Youbixuan (09880.HK) also each dropped over 4%.

In the financial sector, HSBC (00005.HK) rose 0.7% to HKD 135.2, Hong Kong Exchanges and Clearing (00388.HK) and AIA (01299.HK) rose 1.9% and 2.9%. Domestic banks China Construction Bank (00939.HK), Agricultural Bank of China (01288.HK), Industrial and Commercial Bank of China (01398.HK), and China Merchants Bank (03968.HK) rose 1.6% to 2.2%. Domestic insurance stocks PICC (01339.HK) and ZhongAn (06060.HK) rose 3.3% and 5.2%.

Kian Tai Group reported a profit alert, with Kian Tai Group (00148.HK) rising 5.9% and Jicengban (01888.HK) rising 5.8%.

In other stocks, sportswear stocks Anta (02020.HK) and Li Ning (02331.HK) rose 3% and 3.3%, while retail stock Miniso (09896.HK) rose 3%. In the duty-free sector, China Duty Free Group (01880.HK) retreated 8.3%. In the environmental energy-related stocks, Xinyi Solar (00968.HK), China General Nuclear Power (01816.HK), and Fuyao Glass (06865.HK) rose 3.5% to 4.2%, while Goldwind (02208.HK) rose 5.6%