Hong Kong stocks rose 99 points repeatedly in the first half of the day; HSBC rebounded by more than 2% SK Hynix with double leverage ETF soared nearly 20%
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As the Federal Reserve began its interest rate meeting, U.S. semiconductor stocks continued to lead the gains the night before, driving Hong Kong stocks to show a positive trend this morning. The Hang Seng Index closed at 23,140 points at noon, up 99 points or 0.43%. Tech, chip, and some AI related stocks rose, while HSBC rebounded by more than 2%, but gaming stocks and individual stocks came under pressure.
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The Federal Reserve began its interest rate meeting, and the next evening (the 27th), semiconductor stocks continued to lead the gains, with the Nasdaq closing up 1.18% and the Dow Jones rising slightly by 15 points. This morning (the 28th), Hong Kong stock market performance was mixed. After opening higher by 42 points, there was a shift towards selling pressure that led to a decline, and there was intense contention around the 23,000 level. The half-day range was only 134 points. The Hang Seng Index closed at 23,140 points, up 99 points or 0.43%; the main board's half-day trading volume was 97.991 billion yuan; the State-owned Enterprises Index closed at 7,806 points, up 39 points or 0.51%; the Hang Seng Technology Index closed at 3,868 points, up 68 points or 1.8%.

In terms of leading technology stocks, Alibaba-W (09988. HK) closed higher by 2.37% in the first half of the day; Baidu-W (09898. HK) rose nearly 3%; Tencent (00700. HK) and Meituan-W (03690. HK) each increased by 0.8%; Xiaomi-W (01810. HK) also rose by 0.7%.

In terms of some blue-chip stocks, HSBC (00005. HK) saw a sharp drop of over 5% following its earnings report yesterday, but then attracted funds to buy on dips and closed up 2.46% at 137.6 yuan; Pop Mart (09992. HK) opened lower by 6.06% this morning but managed to recover some ground, closing with only a slight decline of 0.76%. After the company announced its third-quarter results, several major banks lowered their target prices for the stock; AIA (01299. HK) faced pressure and fell 2.55%; New Oriental-S (09901. HK) was the worst-performing blue-chip stock of the day, dropping 8.15%.

Chip stocks continued to recover, with Huahong Hongli (01347. HK) rising nearly 6%; SMIC (00981. HK) increasing by 4.32%; Hanqi Technology (06809. HK) surging 8.82%. Bank of America Securities pointed out that Rambus ( RMBS.US) has strong performance and is expected to benefit from it; Tiannian Zhixin (09903. HK) rose 3.71%; GigaDevice Technology (03986. HK) increased by 6.73%. SK Hynix exceeded expectations in its earnings for the last quarter and also announced a shareholder reward plan of 100 trillion Korean won. SK Hynix' products with the highest daily leverage (2x) (07709. HK) soared 19.18%; Samsung Electronics' products with the highest daily leverage (2x) (07747. HK) also rose 18.69%.

The AI sector continues to perform well, with Zhispu (02513. HK) rising by 4.45%; MINIMAX-W (00100. HK) rising by over 7.55%; Xunce (03317. HK) rising by 2%. Some AI hardware stocks also saw gains, with Jiantao Circuit Board (01888. HK) rising by 7.47%; Jiantao Group (00148. HK) rising by 5.81%; Zhongji Xuchuang (03308. HK) rising by 7.17%; and Changfei Optical Fiber (06869. HK) rising by 8.97%.

Computers and consumer electronics stocks rose; Lenovo Group (00992. HK) increased by 6.7%; Sunny Optical (02382. HK) rose by 5.05%; Pharmaceutical stocks performed well, with WuXi AppTec (02359. HK) and WuXi Biologics (02269. HK) both rising by over 3% in the first half of the day. Metals and mining stocks were strong, with Zijin Mining (00899. HK) rising by nearly 4% in the first half of the day; Lao Pu Gold (06181. HK) gained 3.04%.

UBS said weak demand for high-end gambling dragged down Macau's gambling revenue, and gaming stocks were under pressure today. Galaxy Entertainment (00027. HK), Sands China (01928. HK), SJM International (00200. HK), MGM China (02282. HK), and Macau Casino (00880. HK) all fell more than 2%, while Melco Resorts Macau (01128. HK) fell 3.22%.

In terms of individual stocks, ASMPT (00522.HK) turned from loss to profit in the third quarter, earning 533 million yuan. Its stock price opened higher by nearly 50% but then fell back, dropping 1.65% within half a day; DripTech (01384.HK) plummeted 22.56% to close at 8.735 yuan.

(mn / ad ) (Hong Kong stock quotes are delayed by at least 15 minutes. Short selling data is as of 16:25 on 2026-10-28. US stock quotes are real-time streaming quotes; except for market stocks, OTC, data is delayed by at least 15 minutes.)

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