On December 8, Hong Kong's stock market witnessed dramatic volatility, with the Hang Seng Index closing down 1.23% at 25,765.36 points. The Hang Seng Tech Index remained flat, while the Hang Seng China Enterprises Index fell 1.25%. Total market turnover reached HK$206.2 billion, with southbound capital recording a net inflow of HK$1.54 billion.
Sector performance was mixed, with biotechnology and banking stocks among the biggest decliners. In contrast, ground transportation and semiconductor-related stocks led the gains. Notable individual stock movements included China Construction Bank dropping 4.01%, China Merchants Bank falling 3.54%, and Industrial and Commercial Bank of China declining 3.48%. Innovent Biologics saw a significant 6.96% decrease.
The lithium battery sector showed strong performance, with Ganfeng Lithium surging 6.95% in late trading. Tianqi Lithium rose 3.16%, Hongqiao Group gained 3.23%, CATL advanced 3.28%, and BYD edged up 0.15%. Huatai Securities research suggests lithium battery production may increase month-on-month in December, with improving industry conditions and rising capacity utilization potentially leading to price hikes.
China Goldstone experienced extreme volatility, swinging over 70% before ultimately closing down 5.97% at HK$0.63. The stock had surged over 40% in morning trading before reversing course to fall more than 28% in the afternoon. Recent filings show directors An Junjie and Zeng Yanqun increased their holdings on November 12, following the completion of a share placement at HK$0.178 per share.
Southbound investors showed strong interest in Xiaomi Corporation, with net purchases totaling HK$1.173 billion on December 8. This marks the seventh consecutive day of net buying, bringing the total to HK$6.2386 billion. Xiaomi repurchased 4.8 million shares for HK$204 million the same day, with prices ranging between HK$42.14 and HK$42.72.
New listing ABLE DIGITAL (02687.HK) soared 87.26% to HK$126.40 on its debut, after pricing its IPO at HK$67.50 per share. The education technology provider's Hong Kong public offering was oversubscribed by 4,813.4 times.
Separately, Hong Kong Exchanges and Clearing announced enhancements to its OTC clearing company's collateral arrangements, effective January 2, 2026. The changes include daily interest calculations based on reference rates, with initial fees set at 0.8% annually, gradually decreasing to 0.5% by 2029.
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