NewTimeSpace | Hong Kong Market Close: The Three Major Indices Fluctuated and Rallied, with the Hang Seng Index Closing Up 1.67%, While Themes Such as Semiconductors and Pharmaceuticals & Biologics Led the Gains

NewTimeSpace reported, on November 4, 2026, the three major Hong Kong indices fluctuated and rallied, with the Hang Seng Index up 1.67%, the Hang Seng TECH Index up 1.77%, and the Hang Seng China Enterprises Index up 1.44%. The market turnover of the Hang Seng Index was 236.9 billion HKD, higher than that of the previous trading day. Southbound funds saw a net selling of 3.277 billion HKD.

On the market, from an industry perspective. Themes such as semiconductors, pharmaceuticals & biologics, and non-ferrous metals led the gains. Themes such as durable consumer goods, food & beverages, and telecommunications services led the declines.

Of which, 65 constituent stocks of the Hang Seng Index rose and 27 fell. On the upside, HUA HONG GRACE surged 15.75%, WUXI APPTEC surged 12.39%, and WUXI BIO rose 12.22%. On the downside, HENGAN INT'L fell 2.29%, CHINA RES BEER fell 1.93%, and TRIP.COM-S fell 1.87%.

Among the Hang Seng TECH Index constituents, 22 rose and 7 fell. On the upside, ILUVATAR COREX rose 11.89%, Z.AI rose 9.55%, and SMIC rose 8.96%. On the downside, LI AUTO-W fell 1.71%, NIO-SW fell 0.95%, and JD-SW fell 0.75%.

Among Hong Kong Stock Connect constituents, CREALIGHTS soared 26.32%, CCTC soared 19.70%, and INGENIC soared 18.25%. On the downside, BLOKS fell 6.10%, FAMEGLOW fell 5.36%, and ZHONGYU ENERGY fell 4.32%.

Zheshang International Financial Holdings Co., Limited pointed out in its outlook for the Hong Kong stock market that, on the fundamentals front, industrial enterprise profits continue to recover, the economic prosperity level has returned to the contraction range, showing a structural divergence of "corporate profit recovery and weak end demand"; on the policy front, the construction of the new-generation communications network and consumer subsidy policies continue to advance, providing support for the technology industry and consumption recovery; on the liquidity front, the stickiness of US inflation limits the room for monetary easing, the overseas high interest rate environment still poses pressure, and southbound funds continue to flow out substantially; on the sentiment front, the Hang Seng Index rose slightly last week, but the technology sector's correction continued, and market risk appetite remains cautious.

Zheshang International Financial Holdings Co., Limited stated that, in terms of sector allocation, it continues to be bullish on innovative drugs, AI computing power and the semiconductor industry chain, which benefit from industrial policy support and have high certainty of profit growth, but it is necessary to be alert to the correction risk of the technology hardware sector, which has seen large gains and high valuations; at the same time, against the backdrop of overseas interest rates remaining high and market volatility intensifying, banks, telecommunications, utilities and high-dividend central state-owned enterprises still have certain defensive value. (Source: "Hong Kong Market Strategy Weekly Report" by Zheshang International Financial Holdings Co., Limited, 20261104)