HK Close | Tech Resilience Offsets Broad Market Dip Amid Surge in Oil-Linked and AI Names

I. Market Overview

The Hong Kong market finished mixed on 4 August. The benchmark Hang Seng Index (HSI) closed at 25,852.92, down 0.60% (-156.48 points), while the Hang Seng China Enterprises Index (HSCEI) settled at 8,574.26, slipping 0.90% (-77.89 points). The broader Hang Seng Composite Index (HSCCI) fell 0.73% to 4,145.41. In contrast, the technology-heavy Hang Seng Tech Index (HSTECH) edged higher by 0.21% to 4,885.61, reflecting selective strength in semiconductor and AI-related counters despite a generally softer tone in the wider market.

Total market turnover reached a healthy HKD 257.82 billion, indicating active participation around sector rotations. Investor focus gravitated toward semiconductor makers and newly listed biotech names, while pockets of weakness emerged in consumer discretionary and selected auto names.

II. Sector Performance

Large-cap Tech Stocks

Performance was mixed. Chipmakers outshone peers, with SMIC +4.98% to HKD 65.30 and Hua Hong Grace +6.55% to HKD 135.10. AI specialist SENSETIME-W +1.99% also advanced. On the downside, MINIMAX-W ‑6.88% to HKD 230.20 and electric-vehicle maker XPENG-W ‑4.16% to HKD 47.00 weighed on sentiment.

Top Performing Sectors

• Oil & Gas Refining & Marketing +13.28%

• Internet Services & Infrastructure +8.69%

• IT Consulting & Other Services +6.66%

Bottom Performing Sectors

• Hypermarkets & Super Centers -4.67%

• Metal & Glass Containers -4.49%

• Reinsurance -3.28%

III. Top 10 Gainers in Hong Kong Market Today

Filter: Market cap>HKD10B

IV. Top 10 Losers in Hong Kong Market Today

Filter: Market cap>HKD10B

V. Closing Summary

1. The Hong Kong equities market ended the session with modest losses for its main benchmarks, as the HSI fell 0.60% and the HSCEI slipped 0.90%, while the HSTECH managed a 0.21% uptick. Trading activity remained brisk, with total turnover of HKD 257.82 billion, suggesting active rotation rather than wholesale risk aversion.

2. Within large-cap technology, semiconductor names provided support. SMIC’s 4.98% rise and Hua Hong Grace’s 6.55% jump lifted the tech gauge, counterbalancing declines in electric-vehicle makers such as XPENG-W -4.16% and LI Auto-W -2.70%. Newsflow from Dow Jones highlighted that Alibaba released a new AI model, underpinning selective buying in platform companies and helping the stock climb in overseas trading, though its Hong Kong-listed shares closed modestly higher at HKD 125.80 (+0.48%).

3. Among individual movers, biotech debutant TH MEDICAL-B surged 23.65%, topping the gainers list, while AI software newcomer MINIMAX-W fell 6.88% after recent strength. Elsewhere, oil-linked counters benefited from sector enthusiasm, whereas consumer-oriented names such as SUNART RETAIL -5.11% lagged.

4. Sector rotation was evident. The Oil & Gas Refining & Marketing group jumped 13.28%, mirroring a Reuters report on energy majors amid elevated fuel-price debate. Digital infrastructure themes also found favor, with Internet Services & Infrastructure +8.69%. Conversely, defensive retail sub-sectors such as Hypermarkets & Super Centers -4.67% underperformed, reflecting caution toward consumer spending. No major IPOs priced today, but brisk activity in newly listed biotech and AI names signals ongoing appetite for growth stories.

Sources: Public market data; Reuters; Dow Jones; MT Newswires

Disclaimer: This content is for reference only and does not constitute investment advice.