NewTimeSpace | Hong Kong Market Close: The Three Major Indices Continued to Weaken, with the Hang Seng Index Closing Down 3.03%, While Themes Such as Hardware Equipment and Semiconductors Led the Declines

NewTimeSpace reported, on October 22, 2026, the three major Hong Kong indices continued to weaken, with the Hang Seng Index down 3.03%, the Hang Seng TECH Index down 5.03%, and the Hang Seng China Enterprises Index down 3.20%. The full-day turnover of the Hong Kong market was 256.1 billion HKD, notably higher than that of the previous trading day. Southbound funds saw a net selling of 9.218 billion HKD.

On the market, from an industry perspective. Sector themes weakened across the board, with themes such as hardware equipment, semiconductors, and enterprise services leading the declines.

Of which, 1 constituent stock of the Hang Seng Index rose and 94 fell. On the downside, LENOVO GROUP plunged 10.92%, HUA HONG GRACE fell 9.46%, and INNOVENT BIO fell 8.42%. On the upside, MIDEA GROUP rose 0.54%.

Among the Hang Seng TECH Index constituents, 1 rose and 29 fell. ILUVATAR COREX fell 8.80%, HORIZONROBOT-W fell 8.50%, and Z.AI fell 7.10%. On the upside, the rising stock was also MIDEA GROUP of the Hang Seng Index.

Among Hong Kong Stock Connect constituents, BRAINAURORA-B soared 27.15%, ZHAOWEI soared 21.29%, and KEYTOP PARKING rose 10.00%. On the downside, REALORD TECH plunged 89.81%, DEEPEXI TECH plunged 34.01%, and QUANTGROUP plunged 21.97%.

Zheshang International Financial Holdings Co., Limited said in its outlook for the Hong Kong stock market that fundamentals are bottoming out and stabilizing, but domestic demand and financing demand still need further improvement; on the policy front, continued efforts are providing support for economic growth; on the liquidity front, stronger US inflation does not change the wait-and-see expectation for October monetary policy; on the sentiment front, after a phase of adjustment, risk appetite has become cautious, and the market may continue to maintain range-bound trading and structural opportunities in the short term.

In terms of sector allocation, the company is bullish on innovative drugs, AI semiconductors and others that have high industry prosperity and are backed by industrial trends and policy catalysts; at the same time, it pays attention to the state-owned and central SOE dividend sector with stable profits and low valuations; against the backdrop of high overseas interest rates, telecommunications, utilities, and some local financial stocks with high dividends still have defensive value. (Source: "Hong Kong Market Strategy Weekly Report" by Zheshang International Financial Holdings Co., Limited, 20261020)