NewTimeSpace | Hong Kong Market Close: The three major indices opened higher but closed lower, with the Hang Seng Index ending down 0.39%, and themes such as non-ferrous metals and non-bank financials rising against the trend

NewTimeSpace (newtimespace.com) reported that on September 3, 2026, the three major Hong Kong indices opened higher but closed lower: the Hang Seng Index fell 0.39%, the Hang Seng TECH Index fell 1.08%, and the Hang Seng China Enterprises Index fell 0.77%. The Hang Seng Index's full-day turnover was HK$199.4 billion, lower than the previous trading day. Southbound funds recorded a net inflow of HK$3.395 billion.

On the market breadth, by sector: themes such as non-ferrous metals, non-bank financials, and transportation rose against the trend, while themes such as coal, paper and packaging, and consumer discretionary retail led the declines.

Among the Hang Seng Index constituent stocks, 42 rose and 50 fell. On the downside, TRIP.COM-S fell 5.41%, CHOW TAI FOOK fell 4.22%, and WHARF REIC fell 3.28%. On the upside, SBP GROUP rose 6.27%, CSPC PHARMA rose 4.80%, and CHINA RES MIXC rose 3.59%.

Among the Hang Seng TECH Index constituent stocks, 7 rose and 23 fell. On the downside, TONGCHENGTRAVEL fell 4.50%, JD HEALTH fell 2.70%, and KUAISHOU-W fell 2.62%. On the upside, MINIMAX-W rose 3.62%, HUA HONG GRACE rose 1.96%, and HAIER SMART HOME rose 1.53%.

Among the Stock Connect constituent stocks, XUANZHUBIO-B surged 18.23%, HAICHANG HLDG surged 15.57%, and ABLE DIGITAL surged 12.70%. MeiG Intelligent Link fell 9.58%; PATEO fell 8.82%; and CF PHARMTECH fell 7.09%.

In its Hong Kong market outlook, China Zheshang International Financial Holdings stated that, on fundamentals: the domestic economy remains in a bottoming-out phase, with severe internal structural divergence within the economy; on policy: technological innovation and expanding domestic demand are the focus of subsequent policies; on liquidity: expectations of US rate cuts are under short-term pressure, while southbound funds increased their positions against the market trend this week; on sentiment: the market has pulled back from a phase high, and short-term market sentiment has turned cautious.

In terms of sector allocation, it favors sectors with relatively strong prosperity that also benefit from favorable policies, such as New Energy, innovative drugs, and AI technology; the undervalued central and state-owned enterprise (SOE) dividend sector with steady earnings and share prices that benefit from favorable policies; and Hong Kong local banks, telecom, and utility dividend stocks whose fundamentals are relatively independent and that benefit from the rate-cut cycle. (Source: China Zheshang International Financial Holdings, "Hong Kong Market Strategy Weekly Report," September 3, 2026)

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