morning trading session on the Hong Kong stock market commenced with an overall pattern of fluctuation and divergence on July 14th.
At the index level, the morning's performance displayed pronounced divergence. The Hang Seng Index saw a slight opening decline and subsequently traded lower, starting at 24,181.52 points, reflecting a 0.13% decrease. The Hang Seng Tech Index also showed weakness, opening at 4,664.61 points, down 0.25%, continuing its recent sideways trend.
In terms of sectors, the market continued its structural rally, with significant variations in performance across different areas. Traditional cyclical industries began to rebound, as the oil and gas sector surged on the back of favorable commodity price support, driving strong buying sentiment. The PCB sector maintained its warming trend, emerging as the morning's key bullish track, with individual stocks in the sector rising collectively. In contrast, the gold sector, known for its safe-haven属性, continued to falter, while consumer, new energy, and automotive sectors also weakened, putting noticeable downward pressure on the broader market. Additionally, internal divergence within the technology sector intensified, failing to generate a unified upward force to spur a market rebound.
At the individual stock level, the market exhibited clear strength disparities, with shifts in hotspots evident. Oil and gas leader Shandong Mianlong (HK00568) soared prominently, nearly hitting a 15% gain, leading the entire Hong Kong stock market. The PCB sector staged a strong breakout, with core holdings Jianthao Multilayer Board (HK01888) jumping 5%, and Microchip Technology opening over 3% higher, guiding the sub-sector's rally. Among tech stocks, performance was evenly split, with Xiaomi Group slightly up and Baidu weakly opening, shedding more than 3%. XPeng Motors also experienced a minor decline. Furthermore, the rare earth, photovoltaic, and military themes that were hot yesterday faced collective rest today, as previous popular tracks entered a phase of adjustment.
Daily Economic News