Hong Kong Market Midday Review: Hang Seng Index Edges Up 0.11% as Gold Stocks Rally

Hong Kong's Hang Seng Index rose 0.11% in the morning session, gaining 28 points to close at 25,881 points. The Hang Seng Tech Index advanced 1.09%. Turnover for the morning session reached 143 billion Hong Kong dollars.

Gold stocks posted broad gains across the board. Optimistic expectations for US-Iran talks led to a sharp drop in oil prices, while a weaker US dollar and government bonds supported the precious metals market. CHINAGOLDINTL (02099) surged over 10%; LINGBAO GOLD (03330) rose 9%; CHIFENG GOLD (06693) gained 6.7%; and DRAGON MINING (01712) jumped over 39%.

APAC RESOURCES (01104) climbed more than 8%, anticipating a mid-term profit attributable to shareholders of approximately 1.3 billion to 1.9 billion Hong Kong dollars.

HAIZHI TECH GP (02706) soared over 49% after a strong performance by Palantir significantly exceeded expectations, validating Haizhi's technical roadmap and business logic through overseas benchmarks. DEEPEXI TECH (01384) extended its rally by over 11%, as the company has officially reached a turning point to profitability, with its AI revenue surging more than threefold in the first half of the year.

Driven by a robust AI-demand cycle, memory chip stocks continued to see high activity. GIGADEVICE (03986) rose 8%. Analysts suggest the supply shortage in the memory market could persist until 2027.

MINIMAX-W (00100) gained over 12%, after its H3 open-source initiative attracted more than 100 partners within 24 hours.

Autonomous driving concept stocks maintained their upward momentum. The official release of a national safety standard for autonomous driving systems has led brokerages to believe that the L2 segment has bottomed out and is poised for a rebound. ZHEJIANG SHIBAO (01057) rose 13%; MINIEYE (02431) gained 9.9%. 51WORLD (06651) climbed over 7%, as the first mandatory standard for autonomous driving is expected to open the simulation track, where the company's unique positioning could allow it to fully benefit.

ESTUN (02715) rose 4.9%, proposing to acquire Estun Co., Ltd. for 487 million yuan to further expand its product matrix.

COSCO SHIP ENGY (01138) gained more than 5%, as expectations for the reopening of the Strait of Hormuz heat up, potentially raising the central value of VLCC freight rates.

Optical module stocks were battered by rumors of a US ban. ZJ INNOLIGHT (03308) fell over 5%; CIG (06166) dropped 5.68%.