Hong Kong's three major stock indexes showed mixed performance at midday trading on September 21. The Hang Seng Index rose 0.56% to 24,889.76 points, while the Hang Seng Tech Index slipped 0.13%. The Hang Seng China Enterprises Index advanced 0.7%.
In terms of sector performance, internet technology stocks saw more gainers than losers. XIAOMI-W (01810.HK) climbed over 3%, while BABA-W (09988.HK), TENCENT (00700.HK), and BIDU-W (09888.HK) each rose more than 1%. However, Lenovo fell over 5%.
Where the action is
Innovative drug concept stocks rallied strongly, with 康方生物 (Akeso) surging more than 8%. On September 20, the deputy director of China's National Medical Products Administration stated at a State Council Information Office press conference that the government will support the pharmaceutical industry's scale expansion, consolidation, and high-end development. Officials encouraged pharmaceutical companies to build smart factories and green facilities, and pledged continued support for regional pharmaceutical development in the Beijing-Tianjin-Hebei region, the Yangtze River Delta, the Guangdong-Hong Kong-Macao Greater Bay Area, and the Chengdu-Chongqing economic zone. The goal is to cultivate three to five internationally competitive biopharmaceutical industry innovation clusters. The government also plans to support greater openness and international cooperation in the medical field, encouraging foreign companies to bring original drugs and high-end medical equipment into domestic production, while also supporting Chinese enterprises in expanding overseas to benefit global health outcomes.
Shipping stocks were also active, with 德翔海运 (TS Lines) gaining more than 5%. Market reports indicate that on September 18, Maersk confirmed it had signed contracts to build 26 large container vessels. These ships, each with a capacity of 18,600 TEU, will be equipped with dual-fuel engines capable of running on liquefied natural gas, with deliveries scheduled between 2029 and 2030. Maersk has not yet disclosed the specific shipyard or order value. Industry analysts suggest this move signals that Maersk is expanding its fleet size again after years of a conservative shipbuilding strategy focused primarily on replacing aging vessels.
On the downside, the application software sector led declines, with 智谱 (Zhipu) falling over 4%. In response to community feedback regarding security concerns with its ZCode product, Zhipu has open-sourced ZCode today and stated that it has completed a comprehensive rectification, apologizing to all users. The company made an explicit commitment that it has not retained any of the code or data mentioned in community feedback, nor has it ever used such material for model training. After completing the rectification, the company invited the China Academy of Information and Communications Technology and NSFOCUS to conduct security audits. Zhipu has now released ZCode as open-source software, handing the code over to community oversight. Going forward, the company will establish a routine product security vulnerability response mechanism, continuously accept developer feedback, and offer rewards based on the severity of reported issues.
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