NewTimeSpace | Hong Kong Market Close: The Three Major Indices Opened Higher and Moved in a Choppy Range, with the Hang Seng Index Closing Up 0.25%, While Themes Such as Banking, Industrial Trade & Commerce and Conglomerates Led the Gains

NewTimeSpace reported, on October 12, 2026, the three major Hong Kong indices opened higher and moved in a choppy range, with the Hang Seng Index up 0.25%, the Hang Seng TECH Index down 0.67%, and the Hang Seng China Enterprises Index up 0.25%. The full-day market turnover was 162.6 billion HKD, lower than that of the previous trading day. Southbound funds saw a net buying of 2.603 billion HKD.

On the market, by industry. Themes such as banking, industrial trade & commerce, conglomerates, and environmental protection led the gains. Themes such as hardware equipment, semiconductors, and non-ferrous metals led the declines.

Among them, 35 constituent stocks of the Hang Seng Index rose and 58 fell. On the upside, OOIL rose 4.4%, CM BANK rose 3.1%, and JD-SW rose 2.8%. On the downside, LAOPU GOLD fell 7.9%, XIAOMI-W fell 5.5%, and HUA HONG GRACE fell 5.0%.

Among the Hang Seng TECH Index constituents, 12 rose and 18 fell. On the downside, Z.AI fell 3.5%; HORIZONROBOT-W fell 2.9%, and SUNNY OPTICAL fell 2.8%. On the upside, LEAPMOTOR rose 4.3%, TENCENT MUSIC-SW rose 3.1%; and NETEASE rose 2.9%.

Among Hong Kong Stock Connect constituents, YUNJI rose 18.6%, SERES rose 15.2%, and HQVT rose 14.1%. On the downside, TH MEDICAL-B plunged 50.4%, JOHNSON ELEC H fell 20.1%, and UISEE TECH fell 15.8%.

CGS stated that expectations for the reform of the Hang Seng TECH Index are expected to keep fermenting, the prosperity of the AI industry chain is supported by substantive orders, and coupled with the post-holiday return of southbound funds, the structural window for going long remains. However, the US CPI/PPI data are about to be released, and high US Treasury yields are suppressing valuations, so position flexibility needs to be maintained. It is suggested to pay attention to: (1) the technology sector. Strong AI demand drives both volume and price increases in PCBs, and the shortage-driven price increases of upstream copper-clad laminates continue; NVIDIA's new-generation AI system has been put into production and application, and the prosperity of the industry chain is supported by substantive orders. Pay attention to optical modules/optical fibers, PCBs, high-speed interconnects, AI servers, domestic AI chips and wafer foundry, power supporting facilities, and the progress of major companies' models. (2) The innovative drugs and CXO sector. The window period of the ESMO Annual Congress in October (23rd to 27th) is a clear catalyst, and the core data of many Chinese innovative drug companies will be disclosed in a concentrated manner. (3) Low-volatility dividends. Banking, utilities, telecommunications, and energy serve as defensive base positions to hedge against the interest rate risk of US inflation data exceeding expectations. (Source: "Can Hong Kong Stocks Sustain the Rebound Under Interest Rate Disturbances?" by CGS, 20261010)