The following day (the 12th), the three major U.S. stock indices showed mixed performances. Continuous attacks in Saudi Arabia led to an increase in oil prices; the Dow Jones Industrial Average closed up 0.38%, while the Nasdaq and the S&P 500 Index fell by 0.44% and 0.06% respectively.
This morning (the 13th), the Hang Seng Index opened down by 99 points, and its decline later widened to nearly 300 points. It once fell below the 24,000 mark during the session. The Hang Seng Index closed at 24,176 points for the half-day session, down 95 points or 0.39%; the main board's half-day trading volume was 101.781 billion yuan. The Hang Seng Tech Index closed at 4,105 points, down 64 points or 1.54%; the State-Owned Enterprises Index closed at 8,121 points, down 46 points or 0.57%.
Leading tech stocks led the decline, with JD.com (-SW (09618. HK)) falling 3.69%, after Bank of America Securities and Sumitomo Mitsui Securities lowered their target prices; Meituan-W (03690. HK), Alibaba-W (09988. HK), Baidu-W (09888. HK), Kuaishou-W (01024. HK), and NetEase (09999. HK) all fell more than 1%; Tencent (00700. HK) fell 0.89%.
Yangtze Memory Technologies plans to launch a new architecture memory product by the end of the year, which dragged down foreign chip stocks the following day. Huahong Hongli (01347.HK) fell by 5.45%, marking the worst performance among blue-chip stocks for the day; SMIC (00981.HK) fell by 1.42%; Lanqi Technology (06809.HK) fell by 4.4%; GigaDevice Technology (03986.HK) fell by 3.3%; SK Hynix, which is listed in Hong Kong, saw its most leveraged (2x) product (07709.HK) plummet by 18.16%; and Samsung Electronics' most leveraged (2x) product (07747.HK) fell by 16.46%.
International financial stocks performed well against the market trend: HSBC (00005.HK) rose by 1.08%; AIA Insurance (01299.HK) rose by 0.76%; Standard Chartered (02888.HK) rose by 1.87%, with Goldman Sachs raising its target price to HK$282. Several major domestic bank stocks reached new highs, but some showed mixed performance: Bank of China (03988.HK) fell slightly by 0.08%; Industrial and Commercial Bank of China (01398.HK) fell by 0.26%; China Construction Bank (00939.HK) rose by 0.05%; Agricultural Bank of China (01288.HK) rose by 0.53%.
Biotech and pharmaceutical stocks were generally under pressure, with KingMed Biotechnology (01548. HK) falling 12.43%; WuXi AppTec (02269. HK) falling 4.37%; WuXi AppTec Group (02268. HK) falling 6.15%; JingTai Holdings (02228. HK) falling 5.73%; CanSino Biologics (06185. HK) falling 4.53%; Innovent Biologics (01801. HK) falling 1.14%.
Gambling stocks rebounded, with Galaxy Entertainment (00027. HK), which was listed as the industry's top choice by Morgan Stanley, closing up 2.72% for the best performance among blue-chip stocks; Sands China (01928. HK) rose 2.44%; MGM China (02282. HK) increased by 1.8%; and Melco International Development (00200. HK) rose 2.29%.
As for the remaining blue-chip stocks, Haidilao (06862. HK) fell by 4.74% after the company lent over 100 million yuan to its major shareholder Zhang Yong, which led Citibank to lower its target price; CATL (03750. HK) fell by 2.59%; PetroChina (00857. HK) rose by 1.78%; Lenovo Group (00992. HK) fell by 1.79%.
PCB stocks under pressure, JianTao laminated boards (01888. HK) fell 3.46%; JianTao Group (00148. HK) fell 3.43%. In the field of optical communication concept stocks, Zhongji Xuchuang (03308. HK) once fell 5.5%, with its stock price dropping to a new low of 853 yuan since listing, and the decline narrowed to 1% at noon; Changfei Optical Fibre and Cable (06869. HK) fell 1.86%.
In terms of individual stocks, Minhua (01999. HK) tumbled by 13.82%, and the company is expected to earn about 70% to 90% less in the medium term.
(mn / da ) (Hong Kong stock quotes are delayed by at least 15 minutes. Short selling data is as of 16:25 on 2026-10-13.)
