Hong Kong's benchmark Hang Seng Index slipped 0.85% in morning trading, shedding 211 points to close the session at 24,742. The Hang Seng Tech Index also retreated, falling 0.79%. Turnover for the morning session reached HK$118.8 billion.
Quanfeng Holdings (02285) surged more than 22% on heavy volume after the company appointed Joseph Galli Jr., a former executive at Techtronic Industries, as its new Chief Executive Officer. Huayan Robot (01021) skyrocketed over 31% before the midday break, driven by its inclusion in the Hong Kong Stock Connect program this week. Analysts suggest the company's core motion control technology could see a valuation re-rating.
Tongyuankang Pharma-B (02410) advanced 5.78% after the chairman increased his stake, signaling long-term confidence. The company's innovative EGFR-TKI drug recently received critical approval. Duodian Shuzhi (02586) gained more than 5%, supported by controlling shareholder Zhang Wenzhong's share purchase and robust first-half performance in its AI-driven retail core solutions business.
Changfeng Pharma (02652) climbed over 7% as clinical trial approvals for ICF001 across multiple indications were secured, paving the way for accelerated Phase I studies both domestically and internationally.
Copper mining stocks suffered significant pullbacks amid a sharp drop in copper prices, triggered by uncertainty surrounding proposed US copper tariffs. Jiangxi Copper Co Ltd (00358) plunged more than 10%, while Luoyang Molybdenum (03993) dropped 10%, leading losses among blue-chip stocks. MMG Ltd (01208) also fell sharply, down 9.46%.
Lithium stocks also took a beating in morning trade. Adjustments to the SMM lithium carbonate inventory methodology led to a one-time surge of over 90,000 tonnes in reported stockpiles. Tianqi Lithium (09696) declined 7%, while Ganfeng Lithium (01772) fell 5%.
Robot concept stocks extended their recent losing streak. Unitree Robotics shares dropped below the 500 yuan mark, pushing its total market value under 200 billion yuan. Johnson Electric Holdings (00179) slipped 3%, Lens Technology (06613) declined 1.3%, and Sanhua Intelligent Controls (02050) fell 2.4%.
Sun Hung Kai Properties (00016) tumbled over 8% following its earnings release, despite reporting a 4.6% year-on-year increase in underlying profit for fiscal 2026. Lao Pu Gold (06181) continued to slide, losing more than 6% as second-quarter results were impacted by falling gold prices. The company noted that near-term sales performance remains closely tied to gold price movements.
CATL (03750) declined 2.67% amid concerns that automakers are accelerating efforts to reduce reliance on the battery giant. However, Morgan Stanley remains optimistic about its market share prospects.
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