The Hang Seng Index climbed 0.44%, up 100 points, to 23,193, while the Hang Seng Tech Index slipped 0.37%. Morning trading turnover in Hong Kong reached HK$93 billion.
Oil stocks posted the strongest gains, leading the blue-chip pack. With the probability of a fresh round of conflict between the United States and Iran rising, geopolitical risks continue to lend solid support to oil prices. CHINA OILFIELD (ASX: 02883) jumped 7%, SINOPEC CORP (ASX: 00386) rose 3.7%, PetroChina advanced 4%, and CNOOC gained 2%.
Baige Online surged more than 30% to a record high, as its MaaS business maintained steady growth and its AI risk-control large model accelerated its large-scale rollout.
Pharmaceutical distribution stocks rebounded on favorable policies from multiple government departments encouraging industry mergers and acquisitions and diversified operations. Sinopharm Group rose over 6%. Livzon Pharmaceutical gained more than 10% after announcing a generous dividend and a shareholder return plan for the next three years.
Woan Robotics climbed over 14%, as catalysts for the physical AI industry were released in a concentrated manner and the company's "one brain, multiple forms" commercialization accelerated.
Optical communication concept stocks were among the biggest decliners. The market continued to focus on the outlook for AI capital expenditure, with institutions suggesting that earnings could drive a valuation recovery. Cambridge Technology fell 6%, Yangtze Optical Fibre and Cable dropped 5%, and Zhongji Innolight declined 3.6%.
Gao Xin Retail dropped more than 6% after issuing a profit warning, expecting its interim loss to widen to between 500 million and 550 million yuan.
Gold stocks fell collectively. Chifeng Gold declined 3.7% after its results, as spot gold briefly fell below $3,980 per ounce. Lens Technology dropped 7.6%, with increased exchange losses weighing on its performance and third-quarter net profit attributable to shareholders halving year-on-year.
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