HSI1 24,642.51 +132.42 177.48B
HSCEI1 8,216.84 +51.06 51.28B
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HSI Up 156 Pts at Midday as NTES Gains 4%+; Optical Communications, Large Model, PCB and Chip Stocks Squeezed
2026-09-28 12:32:50
This morning (28th), the HSI opened up 44 pts and once soareds more than 200 pts. It closed midday at 24,666, up 156 pts or 0.64%, with half-day turnover reaching HKD94.785 billion. The HSCEI closed midday at 8,212, up 46 pts or 0.57%. The HSTECH closed midday at 4,288, down 23 pts or 0.54%.

Major tech stocks were in a mixed bag. NTES (09999.HK) mounted 4.42%, making it the best-performing blue chip. TENCENT (00700.HK) gained 0.87%. BABA-W (09988.HK) lost 1.48%, while XIAOMI-W (01810.HK) sank 0.77%.

Optical communications concept stocks came under pressure after a US senator proposed legislation related to optical modules, listing ZJ INNOLIGHT (03308.HK) and Eoptolink as restricted suppliers. ZJ INNOLIGHT tumbled 9.39%, YOFC (06869.HK) slumped 13.83%, and CIG (06166.HK) plunged 9.33%.

Several large AI models cut prices in September, weighing down Hong Kong-listed large model stocks. MINIMAX-W (00100.HK) plummeted 8.87%, Z.AI (02513.HK) declined 2.05%, and XUNCE (03317.HK) eroded 5.29%. Printed circuit board (PCB)-related stocks were broadly sold off. KB LAMINATES (01888.HK) and KINGBOARD HLDG (00148.HK) each crashed more than 7%, VGT (02476.HK) stumbled 9.49%, and HANS CNC (03200.HK) slid 7%.

Chip stocks were subdued as China may reportedly allow companies such as BABA-W (09988.HK) to purchase high-end chips from NVIDIA Corporation (NVDA.US). HUA HONG GRACE (01347.HK) fell off 4.8%, making it the worst-performing blue chip. SMIC (00981.HK) cratered 3.55%, MONTAGE TECH (06809.HK) lost 4.72%, ILUVATAR COREX (09903.HK) collasped 8.04%, and GIGADEVICE (03986.HK) shrank 5.67%.
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