On December 1, Hong Kong's three major indices collectively rose. By midday close, the Hang Seng Index increased by 0.81% to 26,068.05 points, while the Hang Seng Tech Index climbed 0.99%, and the HSCEI rose 0.64%.
Sector-wise, most tech stocks advanced, with Alibaba up over 3%, NetEase gaining more than 2%, and JD.com and Baidu rising over 1%. In contrast, Xiaomi fell 2%, and Meituan dropped over 1%.
Gold and non-ferrous metal stocks broadly rallied, with Jiangxi Copper and China Gold International surging over 8%. Oriental Securities noted that amid tightening mid-term supply-demand dynamics and rising inflation expectations, gold and copper may see a year-end rally starting in December, presenting investment opportunities in related sectors.
Apple concept stocks strengthened, with Sunny Optical soaring over 6%. Guotai Haitong Securities highlighted Apple's accelerated AI development, which could exceed expectations and drive upgrades in smartphones and AR glasses.
Chip stocks were active, with ZTE Corporation surging over 11%. ZTE announced limited sales of its engineering prototype, Nubia M153, featuring a preview version of its AI phone assistant, Doubao.
Cryptocurrency-related stocks declined, with Huajian Medical plunging over 15%. The People's Bank of China recently reiterated risks associated with stablecoins, citing concerns over money laundering and illegal cross-border fund flows.
Comments