Hong Kong Stocks Midday: Hang Seng Index Falls 2.87% in Morning Session, Blue-Chip Heavyweights Drag Index Lower

Stock News10-22 12:07

The Hang Seng Index dropped 2.87%, or 679 points, to 22,971, while the Hang Seng Tech Index declined 4.64%, according to market data. Morning trading turnover in Hong Kong reached HK$127.5 billion. The Hang Seng Tech Index hit its lowest level since September 2024.

Alibaba-W (09988) fell 5.93%, and Tencent (00700) dropped 3.35%.

BrainAurora-B (06681) surged over 48% as China achieved a new breakthrough in international standards for brain-computer interface technology. Zhaowei Electromechanical (02692) rose nearly 18% as Tesla's next-generation Optimus prepared for mass production, with the company's dexterous hand layout opening up market space. Maike Medicine-B (02335) gained 15% after adopting an H-share incentive plan and seeking to repurchase no more than 10% of its H-shares.

Copper stocks extended their declines. Labor risks at two major Chilean copper mines were resolved successively, while the U.S. copper tariff decision remained pending. China Nonferrous Mining (01258) fell 4.9%; Luoyang Molybdenum (03993) dropped 4.9%; Minmetals Resources (01208) declined 4.6%.

Optical communication concept stocks led the losses. North American cloud vendors entered earnings season, with the market continuing to focus on cloud capital expenditure. Zhongji Innolight (03308) fell 8.7%; Yangtze Optical Fibre and Cable (06869) dropped 10%.

Sands China (01928) declined over 5% as third-quarter adjusted property EBITDA fell 12% year-on-year.

Coal stocks accelerated their recent declines. Shanxi coal mines ramped up resumption of production, and the market worried that high coal prices would suppress downstream demand. China Shenhua Energy (01088) fell 3%; China Coal Energy (01898) dropped 3%.

Changguang Chencore (03277) dropped over 6%, hitting a new listing low, and has fallen nearly 20% since cornerstone investors' lock-up expiry.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment