NewTimeSpace | Hong Kong Market Close: The Three Major Indices Continued to Strengthen, with the Hang Seng Index Closing Up 0.42%, While Themes Such as Electrical Equipment and Media Led the Gains

NewTimeSpace reported, on November 2, 2026, the three major Hong Kong indices continued to strengthen, with the Hang Seng Index up 0.42%, the Hang Seng TECH Index up 2.25%, and the Hang Seng China Enterprises Index up 0.56%. The turnover of the Hong Kong market was 204.8 billion HKD, somewhat lower than that of the previous trading day. Southbound funds saw a net selling of 4.469 billion HKD.

On the market, from an industry perspective. Themes such as electrical equipment, media, and hardware equipment led the gains. Themes such as banks, healthcare equipment & services, and construction led the declines.

Of which, 57 constituent stocks of the Hang Seng Index rose and 37 fell. On the upside, XIAOMI-W rose 6.12%, CATL rose 6.08%, and CHINA LIFE rose 3.85%. On the downside, BOC HONG KONG fell 5.70%, BANK OF CHINA fell 4.64%, and BYD ELECTRONIC fell 3.67%.

Among the Hang Seng TECH Index constituents, 25 rose and 4 fell. On the upside, HORIZONROBOT-W rose 8.05%, MINIMAX-W rose 4.77%, and XPENG-W rose 4.33%. On the downside, Z.AI fell 0.66%, NIO-SW fell 0.40%, and BIDU-W edged down 0.07%.

Among Hong Kong Stock Connect constituents, CHINA LIT soared 15.54%, XD INC soared 14.25%, and YOFC rose 11.49%. On the downside, FAMEGLOW plunged 26.36%, REALORD TECH plunged 17.33%, and BRAINAURORA-B plunged 17.18%.

China Galaxy Securities stated that as the US midterm elections approach, the landing of external uncertainties can ease the uncertainty premium, but the medium-term path of US Treasury yields still depends on inflation and the Fed, and the verification of the AI narrative still depends on corporate earnings delivery. Combined with the current panic over the return on AI capital expenditure (ROI), the large outflow of southbound funds, and the index sitting at a valuation bottom, the investment main line for Hong Kong stocks next week should adhere to the idea of defense first and waiting for an earnings breakthrough. It suggests paying attention to: (1) low-volatility dividend. (2) AI hardware and semiconductors in the earnings delivery period. (3) Domestic demand consumption and overseas-expansion manufacturing. (Source: China Galaxy Securities, 20261031, "As US Midterm Elections Approach, Where Do Hong Kong Stocks Go?")