Hong Kong Stock Morning Review | Hang Seng Index fell 1.27% in midday trading, Hong Kong's local banking sector rebounded higher

The Zhitong Finance App learned that the Hong Kong Stock Hang Seng Index fell 1.27% to 318 points to 24,891 points; the Hang Seng Technology Index fell 1.69%. Hong Kong stocks traded HK$117.1 billion at noon.

The war in the Middle East boosted oil prices, causing concerns about inflation, and the forecast for US interest rate hikes during the year is heating up again. Net interest spreads on bank stocks are expected to rise. Bank of Hong Kong stocks reversed the market this morning. Daxin Finance (00440) rose by more than 6.95%; Daxin Bank Group (02356) rose 5.56%; Bank of East Asia (00023) rose 6.17%; and BOCHK (02388) rose more than 4%.

Recently, supporting policies related to brain-computer interfaces have been intensively introduced, and Brain Action Aurora-B (06681) has increased by more than 11%.

Xinjiang Xinxin Mining (03833) rose another 9%, and the prices of electrolytic nickel and cathode copper rose. Net profit is expected to increase nearly 2.6 times in the first half of the year.

Modern Animal Husbandry (01117) rose another 8%. The profit before tax for the first half of the year is expected to be no less than 43 million yuan, turning a year-on-year loss into a profit.

Smart Spectrum (02513) rose 7.6%, GLM 5.2 AI lost control at critical rescue sites, and the company continued to make up for underlying capabilities.

Wutong International (00613) rose more than 6%. It is estimated that shareholders should account for about HK$600 million in profit in the first half of the year, a sharp increase of 555% over the previous year.

Lanqi Technology (06809) rose more than 5% and plans to buy back 300 million yuan to 600 million yuan of A shares through centralized bidding transactions.

Old gold stores (06181) fell more than 7%. Expectations of interest rate hikes heated up to suppress gold prices, and many stores were no longer in full queue.

Jiantao Laminate (01888) fell by more than 9%. Recently, many shareholders have frequently reduced their holdings.

Domestic housing stocks declined collectively. Listed housing companies lost up to 50 billion dollars in half a year, and market transactions were relatively lackluster in the off-season. R&F Real Estate (02777) fell 4.39%; Sunac China (01918) fell 3.57%.