Hong Kong stocks closed (10.16) | Hang Seng Index closed up 0.52%, gold, domestic housing stocks, etc., and Lenovo Group (00992) rebounded 8% to lead blue chips

The Zhitong Finance App learned that the three major indices of Hong Kong stocks fluctuated and declined after opening high today. The Hang Seng Index rose more than 1.3% in the intraday period, and the increase narrowed markedly at the end of the session. At the close, the Hang Seng Index rose 0.52% or 124.11 points to 24186.83 points, with a full-day turnover of HK$178.207 billion; the Hang Seng State-owned Enterprises Index rose 0.31% to 8128.25 points; and the Hang Seng Technology Index rose 1.16% to 4108.24 points. Looking at the whole week, the Hang Seng Index fell 0.10%, the China Index fell 0.24%, and the Hengke Index fell 2.13%.

Huatai Securities pointed out that the three factors that have recently caused significant fluctuations in Hong Kong stocks are changes in policy expectations, marginal tightening of overseas liquidity, and rising geopolitical risks. The first point may be the main reason; after adjustments, Hong Kong stocks are now or close to support levels, and it is recommended to focus on US bond interest rate sensitive industries and improved profit expectations in terms of allocation.

Blue-chip stock performance

Lenovo Group (00992) led the blue chip increase. At the close, it rose 8.01% to HK$28.06, with a turnover of HK$5,032 billion. Recently, Hwang In-hoon specifically named Lenovo Group in a public interview, saying that through Lenovo Group and other partners, Nvidia has a strong business layout in the enterprise market. It is also reported that the Lenovo Group has begun delivering Nvidia's next-generation Vera Rubin NVL72 rack-scale AI system globally and incorporating the complete Vera Rubin platform into Lenovo's AI cloud gigafactory solution.

In terms of other blue chips, New Oriental-S (09901) rose 5.90% to HK$48.14; BeiGene (06160) rose 4.36% to HK$225; China Resources Land (01109) rose 3.33% to HK$31.06; and China Life (02628) fell 2.88% to HK$23.62.

Popular sector aspects

On the market, most Kewang stocks are flourishing. Kuaishou officially released Kling 4.0. At one point, the stock price rose more than 6%, while Ali rose more than 2%; first-tier existing housing sales reform rules were implemented, and domestic housing stocks showed impressive performance; pharmaceutical and innovative pharmaceutical stocks rebounded strongly; gold stocks were driven higher by a recovery in gold prices; AI hardware, military stocks, etc. picked up; and tobacco and sporting goods rose ahead. On the other side, the CRO concept dived in the afternoon, and insurance stocks, pork stocks, and lithium battery stocks declined.

Domestic housing stocks performed brilliantly. At the close, Longhu Group (00960) rose 6.21% to HK$5.045; Seashell-W (02423) rose 4.54% to HK$47.46; China Resources Land (01109) rose 3.33% to HK$31.06; and Vanke Enterprise (02202) rose 2.10% to HK$2.43.

On October 15, Shenzhen and Hangzhou issued implementation rules for the reform of the commercial housing sales system on the same day. The “local version” of the 8.28 New Deal fell to two more cities; in addition to Beijing, Shanghai, Guangzhou, Wuhan, and Tianjin, which had previously been implemented, 7 key cities across the country have come up with plans, and the four first-tier cities in the north have gathered together. Shen Wan Hongyuan pointed out that in September, the National Standing Committee clearly studied and introduced policies for stabilizing real estate and issuing interest rate discount policies for housing purchases. Under supply-side contraction, demand-side policies began to gain strength, and comprehensively, the establishment of housing price bottoms in core cities such as Shanghai will be further strengthened.

Most innovative drug stocks rose. At the close, Yingen Biotech (09606) rose 10.89% to HK$170; Conoa-B (02162) rose 7.62% to HK$81.95; and Genting Xinyao (01952) rose 5.68% to HK$32.36.

Recently, many multinational pharmaceutical companies have continued to step up AI+ drug research and development, and many overseas AI pharmaceutical collaborations have been implemented. On October 15, AstraZeneca announced that it had reached a strategic cooperation with AI drug development company Insitro with a total value of about 1.86 billion US dollars, focusing on the two major indications of fatty hepatitis and cardiomyopathy related to metabolic dysfunction. Meanwhile, the 2026 European Society of Medical Oncology (ESMO) Annual Meeting is approaching. ESMO's annual conference will be held from October 23 to 27 in Madrid, Spain. The chairman's special session on Chinese research will occupy 5 seats. Various innovative assets of domestic pharmaceutical companies will release core data in the form of LBA (Delayed Release Summary).

Gold stocks rebounded across the board. At the close, Lingbao Gold (03330) rose 8.40% to HK$18.33; Tongguan Gold (00340) rose 5.18% to HK$2.54; Zhaojin Mining (01818) rose 4.48% to HK$18.19; and Shandong Gold (01787) rose 4.22% to HK$18.77.

The US PPI data and consumption data released yesterday are still hot, driving the market to revise bets on the Fed's interest rate hike expectations in October. However, adjustments in technology stocks triggered safe-haven funds flowing into US bonds. At the same time, Fed officials were relatively cautious about immediate interest rate hikes. US bond yields and the US dollar index fell from high levels, easing the pressure on gold price adjustments in the previous period. Furthermore, Walsh today declined to reveal the direction of future interest rate decisions, and said he did not think he should prejudge the direction of the policy meeting, nor did he think he should announce the actions he might take at the remaining meetings of the year ahead of time.

AI hardware stocks are generally picking up. At the close, Lanqi Technology (06809) rose 4.55% to HK$211.2; Jiantao Laminate (01888) rose 3.13% to HK$39.48; and GigaYi Innovation (03986) rose 1.25% to HK$339.2.

Market fears about the financing risks of AI companies have cooled down. According to reports, Hwang In-hoon said at the Stockholm event that CoreWeave's financial strength continues to improve and capital costs are falling. He is optimistic about the company and believes that there is no need for Nvidia to provide financial support. Furthermore, after the market on October 15, a number of technology companies issued a number of favorable announcements, covering share repurchases and increases in holdings, three-quarter performance forecasts, R&D progress, qualification certification, etc., sending positive signals to the market in multiple dimensions.

Cement stocks generally rose today. At the close, Huaxin Construction (06655) rose 5.22% to HK$15.73; Conch Cement (00914) rose 2.97% to HK$16.64; Western Cement (02233) rose 3.28% to HK$1.73; and China Building Materials (03323) rose 2.20% to HK$3.02.

Recently, cement prices rose intensively in the three provinces of Xiangqiong and Guangdong, supported by the recovery of rush demand in the fourth quarter and erroneous production peaks. Leading enterprises in Shaoyang, Hengyang, and Zhangjiajie in Hunan announced an increase of 30 yuan/ton; 4 brands in Haikou and Sanya in Hainan increased by 30 yuan/ton; and brands such as Tabai and Runfeng in Shantou, Meizhou, and Shanwei in Guangdong, increased 20 yuan/ton. Furthermore, Guangdong Province issued a rectification notice in response to the problem of overproduction by cement clinker companies, requiring that accurate daily production monitoring be carried out to curb the phenomenon of overproduction capacity.

Popular exotic stocks

Fudan, Shanghai (01385) is happy. At the close, it was up 13.11% to HK$24.84.

Shanghai Fudan expects net profit of about 950 million yuan to 1.15 billion yuan for the first three quarters of 2026, an increase of 187.63% to 248.18% over the previous year, and revenue of about 3.45 billion yuan to 3.65 billion yuan, an increase of about 14.07% to 20.68% over the previous year; the company will adhere to technological innovation and product iteration, and continue to expand product application boundaries.

McFTSE (02556) rose significantly. At the close, it was up 9.85% to HK$47.72.

On the evening of October 15, Maifushi disclosed the business situation for the first three quarters of 2026. The company's AI application business revenue increased by about 114% compared to the same period in 2025, and revenue from precision marketing services increased by about 32% year-on-year. The company implemented the “full-stack token factory” strategy and launched a variety of new AI native products.

Junsheng Electronics (00699) AH rose sharply. At the close, it was up 7.65% to HK$10.56.

On October 15, local time, Tesla officially released the Roadster electric supercar. This “flying car” ignites related concepts. It is reported that Joyson Electronics is supplying integrated battery management (BMS), DC voltage conversion (DC/DC), and power distribution unit (PDU) products for foreign eVTOL companies.

The volume of Conoa-B (02162) increased. At the close, it was up 7.62% to HK$81.95.

Conoah's product Kangyueda® (IL-4Rα monoclonal antibody, spoxibizumab) achieved total revenue of about 660 million yuan in the first three quarters of 2026, an increase of about 227% over the previous year. The core driver was actual market demand and a sharp increase in the number of admitted hospitals.

Ganfeng Lithium (01772) is clearly under pressure. At the close, it was down 6.41% to HK$23.96.

Ganfeng Lithium achieved revenue of 36.159 billion yuan in the first three quarters, up 147.24% year on year; net profit to mother was 5,012 billion yuan, up 19540.50% year on year. Among them, Ganfeng Lithium's net profit for the third quarter was 755 million yuan, down 68% month-on-month from 2.42 billion yuan in the second quarter.