The three principal indices of the Hong Kong stock market all witnessed a synchronized decline. Specifically, the Hang Seng Tech Index registered a 3.27% drop, the Hang Seng China Enterprises Index experienced an 1.8% fall, and the Hang Seng Index saw a 1.73% decrease. Additionally, southbound funds engaged in net selling, totaling HK$399 million.
On the trading floor, major tech stocks with large market capitalizations generally exhibited a downward trend. Meanwhile, popular sectors, including semiconductor chips, lithium batteries, and gold, also experienced a retreat. Individual stocks such as Ganfeng Lithium, CATL, and SMIC saw notable declines. In stark contrast, consumer concept stocks, particularly those in the catering industry, bucked the trend and rallied. Furthermore, the majority of stocks in sectors like building materials, gas, and coal demonstrated active performance.
The market debut of two new stocks was particularly noteworthy. Golden Leaf International Group soared by 330%, while Zhida Technology witnessed a 192.14% rise.
Turning to the news front, Xiaocaiyuan posted exceptional performance during the National Day holiday. In the early morning, the spot price of gold dipped below $3,960 per ounce. Meanwhile, the lithium market is currently grappling with intense supply and demand dynamics.
Looking ahead, Founder Securities is of the opinion that the upward trajectory of the Hong Kong stock market has not yet reached its conclusion, and the anticipated "Red October" rally remains a prospect to watch for.