HK Close | HSI Rises Above 23,000 While HSTECH Gains 3.2%. SMIC Jumps 6%; Baidu, Meituan Gain over 5%; Alibaba Jumps 4%; Tencent Rises 2%

I. Market Overview

The Hong Kong market closed broadly higher on 29 June, buoyed by a powerful rebound in technology shares. The benchmark Hang Seng Index (HSI) finished at 23,026.68, up 354.82 points or 1.57%. The Hang Seng China Enterprises Index (HSCEI) gained 144.50 points, or 1.94%, to 7,605.34, while the more domestically-focused Hang Seng Composite Index (HSCCI) added 0.49% to 3,767.54. The standout performer was the Hang Seng Tech Index (HSTECH), which closed at 4,393.01 after a robust 3.23% advance, driven by strength in internet, semiconductor and AI-linked counters.

Investor participation remained active, with total market turnover reaching HK$315.38 billion. Intraday news flow highlighted sharp rallies in heavyweight internet platforms, chip makers and AI application developers, supporting risk appetite and helping the main index reclaim the psychologically important 23,000-point level.

II. Sector Performance

Large-cap Tech Stocks

Major technology constituents recorded widespread gains. MEITUAN-W (03690) +5.29%, BIDU-SW (09888) +5.62%, BILIBILI-W (09626) +5.61% and JD HEALTH (06618) +6.07% all closed higher, while LENOVO GROUP (00992) fell 9.21%, making it one of the session’s rare large-cap laggards.

Top Performing Sectors

• Transaction & Payment Processing Services +13.11%

• IT Consulting & Other Services +8.43%

• Diversified Support Services +7.21%

Bottom Performing Sectors

• Oil & Gas Storage & Transportation -5.51%

• Security & Alarm Services -5.12%

• Home Improvement Retail -3.67%

III. Top 10 Gainers in Hong Kong Market Today

Filter: Market cap>HKD10B

IV. Top 10 Losers in Hong Kong Market Today

Filter: Market cap>HKD10B

V. Closing Summary

The three major Hong Kong indices ended the 29 June session solidly higher, with the HSI up 1.57%, the HSCEI rising 1.94%, and the tech-heavy HSTECH advancing 3.23%. Turnover of HK$315.38 billion points to active participation as investors reacted to upbeat sentiment around AI and semiconductor themes.

Large-cap technology names were key drivers: MEITUAN-W +5.29%, BIDU-SW +5.62%, BILIBILI-W +5.61%, JD HEALTH +6.07%, and TENCENT +2.04%. Media reports during the session highlighted a surge of over 4% in the Hang Seng Tech Index and noted strong demand for AI-related plays, while LENOVO GROUP ‑9.21% stood out on the downside amid profit-taking pressure.

Semiconductor and AI application counters were particularly strong. News flow cited robust rallies in chip makers such as GIGADEVICE and HUA HONG GRACE, while AI-linked names HORIZONROBOT-W and XUNCE featured among the day’s best performers. The strength coincided with reports of new global semiconductor price hikes and South Korea’s announcement of large-scale chip-sector projects.

Sector data underscored the day’s risk-on tone: Transaction & Payment Processing, IT Consulting, and Diversified Support Services each rose more than 7%, reflecting optimism toward digital-economy themes. Conversely, Oil & Gas Storage, Security Services, and Home Improvement Retail softened. Biotech stocks also drew attention after intraday reports of double-digit gains in TRANSTHERA-B and other healthcare names, hinting at rotation into high-growth niches.

Sources: Public market data, summarized media reports

Disclaimer: This content is for reference only and does not constitute investment advice.