NewTimeSpace | Hong Kong Market Close: The Three Major Indices Rebounded Collectively, with the Hang Seng Index Closing Up 0.60%, While Themes Such as Semiconductors and Hardware Equipment Led the Gains

NewTimeSpace reported, on September 18, 2026, the three major Hong Kong indices rebounded collectively, with the Hang Seng Index up 0.60%, the Hang Seng TECH Index surging 2.20%, and the Hang Seng China Enterprises Index up 0.61%. The Hang Seng Index's full-day total market turnover was 266.5 billion HKD, larger than that of the previous trading day. Southbound funds saw a net inflow of 1.193 billion HKD.

On the market, by industry. Themes such as semiconductors, hardware equipment, and daily consumer retail led the gains. Themes such as household products, paper & packaging, and building materials led the declines.

Among the Hang Seng Index constituents, 57 rose and 32 fell. On the upside, LENOVO GROUP rose 9.5%, LAOPU GOLD rose 5.5%, and HUA HONG GRACE rose 4.8%. On the downside, CHINA UNICOM fell 2.1%, and TENCENT fell 1.6%.

Among the Hang Seng TECH Index constituents, 24 rose and 4 fell. On the upside, MINIMAX-W surged 18.9%, ILUVATAR COREX surged 12.0%, LEAPMOTOR surged 6.6%, and SENSETIME-W rose 5.8%. On the downside, NETEASE fell 0.8%, SUNNY OPTICAL fell 0.7%, and BIDU-W edged down 0.2%.

Among Hong Kong Stock Connect constituents, XIZHI TECH-P surged 22.6%, YUNJI surged 21.8%, and AXERA surged 16.6%. 160 HEALTH plunged 26.2%, BLUE MOON GROUP fell 14.65%, and DELTON fell 7.9%.

Wanlian Securities pointed out that with the Fed's rate hike landing, overseas macro liquidity has tightened somewhat. On September 17, the Hong Kong Monetary Authority raised its base rate by 25bp to 4.25% in response to the Fed's policy change. Domestic liquidity remains accommodative, and going forward the performance of southbound funds and the transmission of Hong Kong's local monetary policy can be closely tracked, with continued attention to the interest rate adjustment plans announced by major Hong Kong banks and changes in the best lending rate.

Against the backdrop of tightening overseas liquidity and the release of the five-year plan, in terms of allocation for Hong Kong stocks it is suggested to focus on defense in the short term while also taking into account structurally strong directions. Attention is suggested on: (1) assets with valuation advantages, high dividends and stable cash flow, which have relative return and defensive attributes; (2) companies with a relatively high earnings realization rate and relatively stable cash flow; (3) continued allocation to leading enterprises in the AI industry chain as a medium- to long-term main line. (Source: "Strategy Flash Report: Fed Rate Hike Tightens Liquidity, Watch the Funding-Side Performance of the Hong Kong Stock Market" by Wanlian Securities, 20260918)

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