Hong Kong's three major stock indices ended with mixed results on April 27. At the close, the Hang Seng Index fell 0.2% to 25,925.55 points, while the Hang Seng Tech Index rose 0.77%, and the HSCEI declined 0.22%. In sector performance, technology stocks were divided, with Baidu gaining over 3% and NetEase up more than 1%, while Tencent dropped 3%, and Alibaba, Bilibili, and JD.com each fell over 1%. Apple-related concept stocks strengthened, with Cowell E surging over 13%. The semiconductor sector rallied sharply, with Montage Technology jumping more than 13%. In contrast, the nonferrous metals sector weakened, as Lingbao Gold declined over 3%.
Apple concept shares advanced, led by Cowell E's rise of over 13%. Apple is scheduled to release its earnings report after the U.S. market closes on April 30, drawing significant attention. Additionally, innovation expectations were ignited by reports of Apple's foldable iPhone: multiple sources indicate that Apple's first foldable phone is planned for launch in September 2026. This is viewed as Apple's most significant design overhaul in nearly a decade, potentially reshaping the landscape of the high-end smartphone market.
The semiconductor sector experienced substantial gains, with Montage Technology climbing over 13%. The recent preview release of DeepSeek V4 prompted analysis from Kaiyuan Securities, which noted that V4-Pro demonstrated outstanding performance in several core benchmarks, rivaling top-tier closed-source models. Evaluation feedback suggests its user experience surpasses that of Sonnet 4.5, with delivery quality approaching Opus 4.6's non-thinking mode. Its fully open-source strategy and extreme cost control are pressuring global AI manufacturers to reconsider their high-cost technological approaches, accelerating subsequent model iterations. This development may also pave the way for successful adoption of domestic models and chips, potentially accelerating the international expansion of Chinese tokens.
The nonferrous metals sector weakened, with Lingbao Gold falling over 3%. A key factor suppressing the rebound in gold prices was an important speech by Federal Reserve Governor Waller at Auburn University this Friday. Waller explicitly stated that, due to the blockade of the Strait of Hormuz and surging energy prices, he expects the March PCE price index to rise significantly to 3.5%, far exceeding the 2% target. He warned that if inflation driven by high energy prices becomes "entrenched," the Fed will have to maintain current high interest rates for a longer period, and might even take further action if inflation spirals out of control. Waller emphasized that discussions about interest rate cuts within the year would only be possible if geopolitical conflicts quickly subside and inflation returns to a downward trajectory. This stance directly dampened the market's previously overly optimistic expectations for rate cuts.
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