Hong Kong stocks opened the first trading session after the holiday with a robust advance on May 4. The Hang Seng Index started trading up more than 2%, while the Hang Seng Tech Index climbed back above the 5,000-point level. At the time of writing, technology stocks were standout performers, with semiconductors, discretionary consumption, and real estate sectors leading the gains. In contrast, petrochemicals, coal, and pharmaceutical biology sectors experienced adjustments.
Semiconductor stocks attracted the highest attention. Tianshu Zhixin, which listed early this year, gapped up over 15% in morning trading, hitting a new high of HK$555.5 per share. Companies such as Montage Technology, Hua Hong Semiconductor, and SMIC all rose more than 4%.
The hardware equipment sector saw broad gains, with optical communication stocks particularly shining. Xizhi Technology, which went public just before the holiday, surged over 20%, once again approaching the HK$1,000 per share mark. Cambridge Technology Holdings jumped more than 10% after recently reporting first-quarter results showing a net profit attributable to shareholders of RMB 118 million, a year-on-year increase of 276.44%. Global optical fiber leader Changfei Optical Fiber & Cable also climbed over 6%.
In addition, discretionary consumption concept stocks like Alibaba, Meituan, Mingminghenmang, and JD Group were among the top gainers. The real estate sector moved higher amid fluctuations, with China Vanke at one point rising over 12%. Companies such as KE Holdings, Henderson Land, and Jinhui Holdings followed the upward trend.
Automotive stocks showed a mixed performance. Li Auto gained nearly 4%, while XPENG Group opened higher but then retreated, still finishing up over 2%. NIO opened down 4% but narrowed its loss to 0.77% by the close.
Comments