NewTimeSpace | Hong Kong Market Close: The Three Major Indices Fluctuated and Weakened, with the Hang Seng Index Closing Down 1.43%, While Themes Such as Coal, Oil and Petrochemicals Strengthened Against the Trend

NewTimeSpace reported, on October 8, 2026, the three major Hong Kong indices fluctuated and weakened, with the Hang Seng Index down 1.43%, the Hang Seng TECH Index down 2.89%, and the Hang Seng China Enterprises Index down 0.89%. The full-day total market turnover was 207.3 billion HKD, markedly larger than that of the previous trading day. Southbound funds saw a net buying of 6.477 billion HKD.

On the market, by industry. Themes such as coal, oil and petrochemicals, and consumer durables strengthened against the trend. Themes such as semiconductors, hardware equipment, and media led the declines.

Among the Hang Seng Index constituents, 37 rose and 56 fell. On the downside, HUA HONG GRACE fell 9.2%, LENOVO GROUP fell 8.1%, and WEICHAI POWER fell 8.0%. On the upside, CHINA OVERSEAS rose 3.8%, CHINA RES LAND rose 2.8%, and CHINA SHENHUA rose 3.1%.

Among the Hang Seng TECH Index constituents, 4 rose and 26 fell. On the downside, MINIMAX-W fell 13.7%, SUNNY OPTICAL fell 7.7%, and Z.AI fell 7.6%. On the upside, MIDEA GROUP rose 2.6%, HAIER SMARTHOME rose 2.4%, and JD-SW edged up 0.3%.

Among Hong Kong Stock Connect constituents, DIAGENS-B surged 21.8%, SHANDONG MOLONG surged 16.1%, and UNITEDENERGY GP surged 12.7%. On the downside, BRETON plunged 25.3% and DEEPZERO plunged 20.6%.

CGS pointed out that AI industry data and earnings expectations provide numerator-side support for the Nasdaq against high interest rates. Against the backdrop of the long-end US Treasury yield once rising above 5%, most traditional industries lacking a strong earnings hedge like AI have borne valuation pressure. At present, the main investment line for Hong Kong stocks is short-term repair trading plus a structurally defensive base position. The core contradiction in the market lies between the liquidity repair expectations brought by the return of southbound funds and the suppression of valuations by high overseas interest rates. During the week, attention should be paid to the minutes of the Fed's September monetary policy meeting and the 10-year US Treasury auction, in search of clues on the interest rate path. A mid-term reversal has not yet been confirmed, the market lacks catalysts for a trending upward move, and the rebound is more structural. (Source: "Hong Kong Stocks Usher in a Phased Rally" by CGS, 20261006)

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