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Tech Index Soars 1.8%, Technology and Semiconductor Sectors Surge, Traditional Sectors Decline

On June 30, Hong Kong stocks displayed a significant structural divergence. The Hang Seng Index and the Hang Seng China Enterprises Index both fell by 0.63% and 0.62%, respectively, while the Hang Seng Tech Index surged by 1.8%. The technology and semiconductor sectors became the core driving forces behind the Hang Seng Tech Index's strong performance, while traditional cyclical sectors faced noticeable pressure, becoming the main contributors to the declines in the Hang Seng Index and the China Enterprises Index. Specifically, major technology stocks continued their rebound from yesterday, with Baidu rising by 5%, Tencent by 2.28%, Meituan by 1.26%, and JD.com also showing gains. The semiconductor sector, PCB concept stocks, and optical communication concepts saw renewed explosions, with ASMPT rising by 10%, SMIC by 5.4%, and Changfei Optical Fiber Cable by 6.68%, while Hua Hong Semiconductor also strengthened and reached a historical high. AI application concepts were equally strong, with Zhizhu rising over 7%, Yidu Tech up by 6.4%, and Lenovo Group increasing by over 8%. On the other hand, gold stocks fell sharply as spot gold and silver continued to decline, with several stocks like Everest Gold hitting new lows for the year. Energy sectors such as oil and coal stocks performed poorly throughout the day, while airline stocks, domestic banks, and property stocks all experienced declines. (Gelonghui)

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