Hong Kong Stock Closing | Tech Index Rose Nearly 3% During the Day, GigaDevice Single-Day Gain Exceeded 18%

Hong Kong stocks rose across all three major indices today. At the close, the Hang Seng Index increased by 1.45%, closing at 25,834.02 points; the Technology Index rose by 2.69%, ending at 5,111.78 points; and the H-shares Index gained 1.67%, finishing at 8,816.32 points.

Note: Performance of the Hang Seng Index

Note: Performance of the Technology Index

Among them, the Hang Seng Tech Index performed the best, with a single-day increase of up to 2.96%, significantly outperforming other major indices.

Market Trends: Middle Eastern Capital May Reallocate to the Hong Kong Market

According to multiple reports, industry insiders indicate that recently some Middle Eastern clients have inquired about investing in the Hong Kong stock market and establishing family offices in Hong Kong.

Other knowledgeable market participants say that Middle Eastern investors who moved to Singapore or Dubai years ago are now considering reallocating some of their businesses or assets to Hong Kong.

Today’s Market

Against the backdrop of all three major Hong Kong indices strengthening, stocks in storage chips, new-style tea drinks, new energy vehicles, and AI applications led the gains; meanwhile, traditional safe-haven stocks such as gold, non-ferrous metals, and energy generally pulled back, with market risk appetite significantly increasing.

Institutions Expect Continued Growth in Storage Industry Prosperity: GigaDevice Surges Over 18%

At the close, GigaDevice (03986.HK) rose 18.41%, and Lianchuang Technology (06809.HK) increased by 7.98%.

Market research firm Counterpoint Research reports that due to ongoing supply-demand imbalance, global DRAM and NAND flash memory prices surged significantly around the Lunar New Year, with several products increasing over 130% month-on-month. The firm predicts that the supply shortage will persist at least until the second half of 2027, and the storage sector’s prosperity is expected to continue rising.

Most tea stock shares strengthen, with Tea Ba Dao leading

At the close, Tea Ba Dao (02555.HK) rose 6.39%, Mixue Group (02097.HK) up 5.40%, and Gu Ming (01364.HK) increased by 5.02%.

Tea Ba Dao’s rise was prominent; the company expects an adjusted net profit of 792 million to 852 million yuan in 2025, up 22.79% to 32.09% year-on-year; net profit is forecasted at 780 million to 840 million yuan, up 62.50% to 75.00%, demonstrating strong growth momentum.

February New Energy Penetration Rate Rebounds MoM: BYD Gains Nearly 8%

At the close, BYD (01211.HK) rose 7.80%, NIO-SW (09866) up 5%, and Li Auto-W (02015.HK) increased by 2.95%.

CICC analysis indicates that, affected by the recovery period after the 2026 new energy vehicle tax subsidy adjustments and the Spring Festival holiday, China’s retail sales of passenger cars in February totaled 1.034 million units, down 25.4% year-on-year. However, the new energy penetration rate rose to 44.9% month-on-month, with exports continuing strong momentum, accounting for nearly 50% of new energy exports. The institution expects that with the Beijing Auto Show in April and new vehicle launches, market prosperity will gradually recover.

AI Application Stocks Continue to Rise: Zhipu Surges Over 14%

At the close, Zhipu (02513.HK) increased 14.15%, Chuangmeng TianDi (01119.HK) up 6.38%, and Horizon Robotics-W (09660.HK) rose 5.38%.

Zhipu announced on March 16 the release of its first general large model optimized for lobster farming scenarios, GLM-5-Turbo, with a 20% API price increase and the launch of lobster packages for individuals and enterprises, boosting sector enthusiasm.

Gold Stocks Continue to Decline: Chifeng Gold Falls Over 6%

At the close, Chifeng Gold (06693.HK) dropped 6.50%, Shandong Gold (01787.HK) down 4.36%, and Zijin Gold International (02259.HK) fell 3.51%.

JPMorgan Chase analysts noted that after the Iran conflict erupted, gold prices did not rise but fell, mainly due to multiple factors such as soaring energy prices boosting inflation expectations, Federal Reserve rate cut expectations, and the dollar’s rebound.

Additionally, the World Gold Council data shows that in January 2026, global central bank gold purchases slowed significantly compared to 2025, with some central banks temporarily halting gold purchases.

Meanwhile, non-ferrous metal stocks also declined. At the close, Lijin Resources (02245.HK) fell 5.50%, China Aluminum (02600.HK) down 4.92%, and Jiangxi Copper (00358.HK) decreased 3.84%.

Market News Pressures Oil Stocks: CNOOC International Falls Over 2%

At the close, CNOOC International (00346.HK) declined 2.15%, CNOOC Limited (00883.HK) down 1.08%, and Kunlun Energy (00135.HK) fell 0.71%.

WTI crude oil futures prices retreated from previous highs, with news of the U.S. attempting to form the “Hormuz Alliance” to control the Strait of Hormuz exerting some downward pressure on oil prices.

Individual Stock Movements

Mak Kee Koi Chung Surges Over 140% After Announcing Over 100 Million Investment from Ma Liyang

Mak Kee Koi Chung (01716.HK) surged 140.36%, closing at HKD 3.99. The company previously announced that its former controlling shareholder, Blackpaper Limited, sold 65% of its shares—about 175.5 million shares—for HKD 122 million, at a price of HKD 0.6963 per share. After completion, the buyer must make a mandatory full takeover offer, with a cash offer price of HKD 0.6963 per share, representing a 42.45% discount to the pre-suspension price. Post-offer, the acquirer plans to maintain the company’s listing status.

Xiaomi Group Gains Nearly 6% as New SU7 Launches Soon

Xiaomi Group-W (01810.HK) rose 5.64%, closing at HKD 35.20. Xiaomi Automotive announced that the new generation SU7 will be officially launched at 19:00 on March 19.