NewTimeSpace | Hong Kong Market Close: The Three Major Indices Fluctuated and Strengthened, with the Hang Seng Index Closing Up 0.23%, While Themes Such as Semiconductors and Hardware Equipment Led the Gains

NewTimeSpace reported, on October 28, 2026, the three major Hong Kong indices fluctuated and strengthened, with the Hang Seng Index up 0.23%, the Hang Seng TECH Index up 1.40%, and the Hang Seng China Enterprises Index up 0.32%. The Hang Seng Index recorded a full-day turnover of 181.4 billion HKD, higher than that of the previous trading day. Southbound funds saw a net selling of 804 million HKD.

On the market, from an industry perspective. Themes such as semiconductors, hardware equipment, and machinery led the gains. Themes such as consumer services, daily consumer retail, and durable consumer goods led the declines.

Of which, 37 constituent stocks of the Hang Seng Index rose and 56 fell. On the upside, HUA HONG GRACE rose 8.44%, LENOVO GROUP rose 6.26%, and SMIC rose 5.43%. On the downside, NEW ORIENTAL-S fell 7.33%, CLP HOLDINGS fell 2.32%, and AIA fell 2.21%.

Among the Hang Seng TECH Index constituents, 20 rose and 9 fell. On the upside, MINIMAX-W rose 4.65%, SENSETIME-W rose 4.52%, and SUNNY OPTICAL rose 3.87%. On the downside, JD HEALTH fell 1.83%, NETEASE fell 1.34%, and TRIP.COM-S fell 1.09%.

Among Hong Kong Stock Connect constituents, BRAINAURORA-B soared 52.30%, SENASIC soared 24.73%, and MANYCORE TECH soared 20.64%. On the downside, DEEPEXI TECH plunged 23.09%, GUANGDONG INV fell 8.71%, and ABLE DIGITAL fell 5.80%.

Zheshang International Financial Holdings Co., Limited pointed out in its outlook for the Hong Kong stock market that, on the fundamentals front, the fundamentals of the Hong Kong stock market 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, US monetary policy in October still maintains a wait-and-see expectation, and southbound funds in Hong Kong stocks saw a large single-week outflow; on the sentiment front, the market extended its decline with pessimistic sentiment, and a signal of stabilization has not yet been confirmed.

Zheshang International Financial Holdings Co., Limited stated that, in terms of sector allocation, it 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, 20261026)