NewTimeSpace | Hong Kong Market Close: The three major indices closed mixed, with the Hang Seng Index up 0.07%; oil & petrochemicals and coal among the leading themes

newtimespace reported that on August 18, 2026, the three major Hong Kong stock indices closed mixed: the Hang Seng Index rose 0.07%, the Hang Seng TECH Index fell 0.90%, and the Hang Seng China Enterprises Index edged up 0.16%. The Hong Kong market's total turnover was HK$255.5 billion, higher than the previous trading day. Southbound funds recorded a net inflow of HK$14.001 billion.

On the market breadth, by sector: oil & petrochemicals, coal, and pharmaceuticals & biotech were among the leading gainers, while household products, semiconductors, and hardware equipment were among the leading decliners.

Among the Hang Seng Index constituents, 41 rose and 50 fell. WUXI BIO rose 5.24%, J&T EXPRESS-W surged 4.83%, and OOIL rallied 3.78%. On the downside, LENOVO GROUP tumbled 5.09%, CHINA LIFE slid 3.93%, and JD LOGISTICS fell 3.40%.

Among the Hang Seng TECH Index constituents, 8 rose and 22 fell. Z.AI plunged 13.30%, HUA HONG GRACE tumbled 7.86%, and HORIZONROBOT-W dropped 5.32%. On the gainers' side, ALIBABA-W rose 3.68%, XIAOPENG gained 1.37%, and XIAOMI rose 1.16%.

Among the Stock Connect (southbound) constituents, STARPLUS LEGEND soared 34.88%, LONKING rose 11.53%, and SANY INT'L gained 9.25%. On the downside, CHICMAX tumbled 22.77%, MARKETINGFORCE slid 15.97%, and GOFINTECH QUANT fell 15.50%.

Industrial Securities noted that the Hong Kong market has significantly recovered from the pessimistic pricing range seen at the end of June; as of August 14, the Hang Seng China Enterprises Index, the Hang Seng Index, and the Hang Seng TECH Index had each rebounded about 11%–12% from their cyclical lows, outperforming among major global equity markets. At the sector level, previously weaker sectors such as commerce & retail, computer, pharmaceuticals, non-ferrous metals, and consumer services led the rebound in magnitude.

The core driver of this rally remains the low-valuation repair, capital rebalancing, and reversal of extreme sentiment amid a phased shift in the industry narrative; a broad reversal driven by widespread earnings upgrades has not yet formed. In terms of allocation, it is recommended to position along the direction of improving earnings expectations, with a focus on sectors where earnings have been revised up but share prices have not yet been fully priced in. (Source: Industrial Securities, August 16, 2026, "Overseas Notes: Hong Kong Stocks Are Moving from Valuation Repair to Earnings Verification")

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