NewTimeSpace | Hong Kong Market Close: Three Major Indices Close Lower, Hang Seng Index Down 0.48%; Semiconductors and Defence & Military Themes Strengthen Against the Trend
NewTimeSpace reported,On September 29, 2026, the three major Hong Kong indices closed lower: the Hang Seng Index fell 0.48%, the Hang Seng TECH Index fell 1.08% and the Hang Seng China Enterprises Index fell 0.46%. Full-day total market turnover was HKD 184.63 billion, up from the previous trading day. Southbound capital recorded a net inflow of HKD 14.63 million.
By industry, real estate, semiconductors and defence and military industry were among the themes that strengthened against the trend, while autos and software services led the declines.
Among Hang Seng Index constituents, 39 advanced and 53 declined. On the decliners side, GEELY AUTO fell 7.4%, BUD APAC 4.8%, NEW ORIENTAL-S 2.9% and LI AUTO-W 2.6%; on the gainers side, LONGFOR GROUP rose 5.9%, CHINA OVERSEAS 3.7% and CHINA RES LAND 3.4%.
Among Hang Seng TECH Index constituents, 7 advanced and 22 declined. On the decliners side, NIO-SW fell 5.1%, XPENG-W 4.1% and LEAPMOTOR 3.9%; on the gainers side, ILUVATAR COREX rose 7.6%, NETEASE 1.6% and JD HEALTH 1.4%.
Among Stock Connect constituent stocks, DEEPZERO surged 15.6%, AKESO 15.5% and ANDRE JUICE 11.5%; on the decliners side, PATEO plunged 18.5%, ZHIDA TECH 12.6% and DIAGENS-B 9.6%.
China Zheshang International Financial Holdings noted that domestic macro policy remains broadly supportive, with stabilising investment and expanding domestic demand still the main levers; technological innovation and new quality productive forces remain the medium-term focus; overseas interest rates stay elevated and southbound capital continues to flow in on a net basis; the market is oscillating at high levels, with short-term risk appetite still cautious.
On sector allocation, the institution said it favours AI technology, innovative drugs and new energy, which benefit from Hong Kong's Five-Year Plan and the support of industry prosperity; it also watches state-owned enterprise dividend sectors with stable earnings and lower valuations; with overseas interest rates at high levels, telecoms, utilities and some high-dividend local financial stocks still offer defensive value. (Source: China Zheshang International Financial Holdings, Hong Kong Stock Market Strategy Weekly)
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