NewTimeSpace | Hong Kong Market Close: The Three Major Indices Moved Mixed, with the Hang Seng Index Closing Up 0.51%, While Themes Such as Oil and Petrochemicals and Real Estate Investment Led the Gains

NewTimeSpace reported, on October 26, 2026, the three major Hong Kong indices moved mixed, with the Hang Seng Index up 0.51%, the Hang Seng TECH Index down 0.36%, and the Hang Seng China Enterprises Index up 0.59%. The Hang Seng Index recorded a turnover of 175.8 billion HKD, somewhat lower than that of the previous trading day. Southbound funds saw a net selling of 2.275 billion HKD.

On the market, from an industry perspective. Themes such as oil and petrochemicals, real estate investment, and coal led the gains. Themes such as semiconductors, non-ferrous metals, and hardware equipment led the declines.

Of which, 58 constituent stocks of the Hang Seng Index rose and 32 fell. On the upside, PETROCHINA rose 5.78%, LINK REIT rose 4.10%, and SINOPEC CORP rose 4.04%. On the downside, ZIJIN MINING fell 5.84%, HUA HONG GRACE fell 4.74%, and CMOC fell 4.53%.

Among the Hang Seng TECH Index constituents, 10 rose and 20 fell. On the downside, MINIMAX-W fell 7.20%, LENOVO GROUP fell 3.98%, and XPENG-W fell 3.83%. On the upside, MEITUAN-W rose 3.35%, Z.AI rose 1.30%, and HORIZONROBOT-W rose 1.19%.

Among Hong Kong Stock Connect constituents, BAIGE DIGITAL soared 27.81%, ONEROBOTICS soared 14.23%, and EVERG SERVICES rose 12.21%. On the downside, ABLE DIGITAL plunged 12.16%, KEYTOP PARKING fell 11.96%, and KINWONG fell 11.84%.

China Galaxy Securities stated that, in the window of the Fed's interest rate meeting, although the conditions for a systemic reversal are not in place, the structural opportunities after the oversold are concentrated in the two lines of dividend and innovative drugs. The participation value of the technology sector depends on the degree of market sentiment repair after the Fed's resolution is implemented. It suggests paying attention to: (1) low-volatility dividend. Within the dividend theme, the focus is shifting from high dividend yield to sustainable dividend capacity, and operating assets are more favored than pure high-yield stocks; it suggests paying attention to operating assets such as railways and highways, and ports. (2) Innovative drugs and CXO sectors. Next week coincides with the crossover window of the conclusion of the ESMO annual meeting and the intensive disclosure of third-quarter reports, and the innovative drug sector has the dual support of event catalysts and performance verification. (3) Technology sector. The core issue of market concern is no longer the space for computing power demand, but whether the return on AI capital expenditure under a high interest rate environment can cover financing costs. It suggests paying attention to optical modules/optical fibers, PCB, high-speed connectivity, AI servers, domestic AI chips and wafer foundry, power supply facilities, and the progress of major players' models. (China Galaxy Securities, 20261024, "Strategy Weekly Report: In the Window of the Fed's Resolution, Can Hong Kong Stocks See Sentiment Repair?")