HSI1 23,026.68 +354.82 315.38B
HSCEI1 7,605.34 +144.50 95.65B
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HSI Bounces Back 482 pts Midday; BIDU-SW, MEITUAN-W Leap 7%+; Pharmas Rally; LENOVO GROUP Slumps ~10% Against Trend
2026-06-29 12:22:20
Hong Kong stocks arrested their recent days of weakness on index futures settlement day, with the HSI rebounding from a more than one-year trough. The index opened up 155 pts this morning (29th), extended gains in early trading and reclaimed the 23,000 level. At midday, the HSI closed at 23,153, up 482 pts or 2.13%, with turnover reaching HKD172.926 billion. The HSTECH settled at 4,412, up 156 pts or 3.68%, while the HSCEI ended at 7,670, up 209 pts or 2.81%.

Active bellwethers broadly thrived in the morning session. BIDU-SW (09888.HK) surged over 7% on market talk that it may demerge Kunlunxin for a Hong Kong listing, targeting a valuation of USD50 billion. NTES-S (09999.HK) spiked 5.12%, as BofA Securities estimated its conversion to dual primary listing to accelerate earnings and revenue growth in 2H. MEITUAN-W (03690.HK) rallied 7.47%; BABA-W (09988.HK) climbed 6.15%; TENCENT (00700.HK) jumped up nearly 4%; and XIAOMI-W (01810.HK) advanced 3.36%.

LENOVO GROUP (00992.HK) was the worst-performing blue chip at midday, closing at HKD21.18, down 9.64%. SUNNY OPTICAL (02382.HK) fell off 2.71%. HSBC HOLDINGS (00005.HK) edged down 1.15%.

The pharmaceutical and biotechnology sector leapfrogged. CSPC PHARMA (01093.HK) proliferated 10.46%, making it the best-performing blue chip. REMEGEN (09995.HK) surged 15.4%, INNOVENT BIO (01801.HK) shot up 7.52%, AKESO (09926.HK) swelled 13%, SBP GROUP (01177.HK) soared 7.04%, HENGRUI PHARMA (01276.HK) elevated 7.8%, WUXI BIO (02269.HK) mounted 6.9%, while FOSUN PHARMA (02196.HK) and BEONE MEDICINES (06160.HK) each spiked 5.5%.
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AASTOCKS Financial News
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