Hong Kong's three major stock indices all moved higher on September 4. By the market close, the Hang Seng Index climbed 1.74% to 25,650.87 points, the Hang Seng Tech Index advanced 2.27%, and the Hang Seng China Enterprises Index rose 2.02%.
On the market front, internet and technology stocks posted broad gains, with Lenovo surging over 6%, Meituan jumping more than 5%, and Baidu advancing over 4%. Pork-related stocks led the gains, with Muyuan Foods Group Co., Ltd. (牧原股份) rising more than 9%. AI application shares also strengthened, with MINIMAX at one point gaining over 11%. Meanwhile, the non-ferrous metals sector opened higher but pared gains by the close, as Tianqi Lithium fell more than 4%.
Pork-related stocks led the advance, with Muyuan Foods Group Co., Ltd. (牧原股份) exceeding a 9% rally. On September 4, the Ministry of Agriculture and Rural Affairs moved up the deadline for completing the current round of hog production capacity reduction to the end of the third quarter, prompting leading pig farming companies to accelerate output cuts. According to data from the National Bureau of Statistics, the national breeding sow herd stood at 37.8 million head as of the end of the second quarter of 2026, down 3.2% quarter-on-quarter, coming within just 0.8% of the 37.5 million head target set by the Ministry of Agriculture and Rural Affairs.
AI application shares strengthened, with MINIMAX briefly soaring over 11%. On September 3, HUMAIN, an artificial intelligence company under Saudi Arabia's Public Investment Fund (PIF), unveiled the first Arabic large language model, HUMAIN M3. Built on MiniMax's open-source flagship model MiniMax M3, the new model was further refined through post-training using more than one trillion tokens of Arabic language data. HUMAIN M3 is currently available in research preview through the HUMAIN Node platform.
The non-ferrous metals sector opened high but trended lower, with Tianqi Lithium declining over 4%. In the afternoon, the main contract for lithium carbonate futures experienced a sharp drop of more than 8%, falling to a low of 140,540 yuan per tonne, retreating more than 10% from the high of 160,000 yuan recorded at the end of last month. Recent weekly inventory data published by the Shanghai Nonferrous Metals Network showed that the pace of weekly destocking narrowed significantly while weekly output rose noticeably, which partly fueled bearish market sentiment.
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