Hong Kong stocks closed (07.10) | The Hang Seng Index closed up 0.6%, and commercial aerospace concepts surged high computing power hardware stocks with the highest decline in the afternoon
The Zhitong Finance App learned that Hong Kong stocks showed a sharp upward downward trend today. The gains of the three major indices narrowed in the afternoon, and the Hengke Index turned down. At the close, the Hang Seng Index rose 0.6% or 144.94 points to 24175.12 points, with a full-day turnover of HK$339.592 billion; the Hang Seng State-owned Enterprises Index rose 0.52% to 8039.19 points; and the Hang Seng Technology Index fell 0.21% to 4721.66 points. Looking at the whole week, the Hang Seng Index rose 3.53%, the China Index rose 4.41%, and the Hengke Index rose 4.95%.
Guoxin Securities previously pointed out that in June, global marginal liquidity was tightened to a certain extent. With the US dollar index breaking through, the liquidity of Hong Kong stocks was weak. In terms of performance, the direction of AI is the most certain. Furthermore, we believe that the market may be slightly overinterpreting the logic of the Fed's interest rate hike. As non-farmers cool down and inflation gradually declines, commodities will also usher in opportunities for valuation repair.
Blue-chip stock performance
Changhe (00001) led the blue chip increase. At the close, it rose 7.53% to HK$70, with a turnover of HK$973 million, contributing 20.07 points to the Hang Seng Index. Changhe said it is currently negotiating the sale of its European perfume and cosmetics company Marionnaud. The group indicated that the potential buyer is BEHN, a company founded by David Konckier, CEO and major shareholder of Groupe Bogart, a French beauty and perfume group; Groupe Bogart is listed on Euronext Paris.
In terms of other blue-chip stocks, Yao Ming Kangde (02359) rose 4.09% to HK$155.1, contributing 4.52 points to the Hang Seng Index; Cinda Biotech (01801) rose 3.88% to HK$89.7, contributing 8.48 points to the Hang Seng Index; Ningde Era (03750) fell 7.92% to HK$587, dragging down the Hang Seng Index by 15.99 points; and SMIC (00981) fell 4.67% to HK$79.65, dragging down the Hang Seng Index by 25.01 points.
Popular sector aspects
On the market, most of the large science and network stocks flourished. Xiaomi rose more than 3%, and JD, Kuaishou, and Ali all rose more than 2%. The Chang10B rocket successfully achieved controlled recycling. The commercial space concept soared rapidly in the afternoon, and Junda shares once rose more than 30%; the new version of the National Essential Drug Catalogue was released, and most innovative drug concepts were outstanding; the first half of the year had excellent results, and non-ferrous stocks were generally active; pork concepts, automobile stocks, and domestic housing stocks were generally improving. On the other hand, computing power hardware stocks such as semiconductors, PCB concepts, and optical communications, which were strong recently, opened high and low today. GigaYi Innovation plummeted 21%, and Shenghong Technology fell nearly 13%.
1. Commercial space concepts soared in the afternoon. At the close, Junda shares (02865) rose 24.2% to HK$23.2; Goldwind Technology (02208) rose 8.4% to HK$10.58; and Asia Pacific Satellite (01045) rose 4.27% to HK$2.44.
According to the official WeChat account of the China Aerospace Science and Technology Corporation, at 12:15 on July 10, 2026, the Long March 10B carrier rocket was launched at the Hainan commercial space launch site. After the first and second stages of the rocket were separated for about 6 minutes, the first sub-stage returned vertically and successfully recovered at the offshore recycling platform. This marks that after the US, China has become the second country in the world to master high-capacity recyclable rocket technology, and the first country in the world to master carrier rocket network recycling technology. Everbright Securities said that the breakthrough in recyclable rocket technology is a key inflection point in commercial space moving towards large-scale commercial operations. The industrial logic will gradually unfold along the main line of “reducing the cost of recyclable rockets, speeding up deployment of satellite constellations, forming an integrated space-space network, and expanding downstream application scenarios”.
2. Most of the innovative drug concepts are bright. At the close, Collumbotai Biotech (06990) rose 8.74% to HK$516.5; Sansheng Pharmaceuticals (01530) rose 6.29% to HK$18.07; and Nuochengjianhua (09969) rose 4.25% to HK$13.98.
The National Health Commission, the National Administration of Traditional Chinese Medicine, and the National Administration for Disease Control and Prevention jointly issued the “National Essential Medicines Catalogue (2026 Edition)” on July 9. What has received the most attention from the market is that innovative drugs were included in the national essential drugs catalogue in batches for the first time. According to Gong Xiangguang, director of the Department of Pharmacy and Administration of the National Health Commission, this adjustment attempt included innovative drugs in the scope of selection. After expert technical consultation, review and verification, a total of 16 innovative drugs were included in the new catalogue, including 4 new domestically produced Class I drugs. It is worth noting that in the first half of 2026, China Innovative Pharmaceutical's external licensing (BD) transaction amount was nearly 100 billion US dollars, reaching 99.7 billion US dollars, which is close to 73% of the 135.7 billion US dollars for the full year of 2025.
3. Non-ferrous stocks were active. At the close, Lingbao Gold (03330) rose 6.67% to HK$15.35; Jiangxi Copper (00358) rose 3.65% to HK$31.22; China Hongqiao (01378) rose 3.08% to HK$20.74; and Zijin Mining (02899) rose 1.97% to HK$30.
Zhongfu Industrial, Western Mining, and Jiangxi Copper recently announced that net profit for the first half of the year is expected to increase by more than 80% year-on-year. According to the latest data from the National Bureau of Statistics, from January to May 2026, the profit of the non-ferrous metal smelting and rolling processing industry increased by 117.1% year on year. The growth rate ranked first among the major industries in the statistics, leading the entire industry significantly. According to the Huatai Securities Research Report, the sharp decline in A-share leaders in this round is essentially a reduction in valuation rather than damage to EPS. The bank pointed out that the commodity boom in the A-share non-ferrous sector is at a high level, but valuations are at a historically low level. Compared to overseas pricing, A-share chameleons may have limited room for decline, and upward flexibility or considerable, which is a typical high-odds trading window.
Popular exotic stocks
The two IPOs were listed on the same day. At the close, Jinghe Integrated (02249) closed at HK$32.3; Binhua Shares (06745) fell 18.68% to HK$2.83.
On July 10, two A-share companies belonging to the semiconductor wafer manufacturing and integrated chemical circuit were listed simultaneously on the main board of the Hong Kong Stock Exchange. They are Jinghe Integrated and Binhua Co., Ltd. Among them, Binhua Co., Ltd. experienced a break when it opened, and the intraday decline widened to 24% at one point; the crystal consolidation opened high and went low, and eventually settled flat.
Peger Biopharmaceutical-B (02565) was strong throughout the day. At the close, it was up 28.93% to HK$7.13.
Peger Biotech announced that it has signed a memorandum of understanding with the US NASDAQ listed company Rani Therapeutics. The two sides plan to use Rani's proprietary Ranipill® platform for oral delivery and pre-clinical development around a number of innovative candidate assets in the Peger Bio Obesity and Metabolic Disease pipeline, and explore R&D, production and commercialization cooperation for related products in markets outside of China.
Zero Sports Auto (09863) climbed significantly. At the close, it was up 6.79% to HK$37.74.
This morning, Zero Sports Auto announced that in the first half of this year, the total number of zeros sold in the Italian pure electric vehicle market reached 24,269 units, a year-on-year increase of 1448.8%; the pure electric market share reached 29.4%, ranking first in the industry; among them, the Zero Sports T03 became the best-selling pure electric model in Italy in the first half of the year, and the Zero Sports B10 also won the market segment championship. In addition, the Zero Sport A05s, the first sedan in the Zero Sports A series, was officially unveiled.
Huaqin Technology (03296) AH shares rose sharply. At the close, it was up 5.74% to HK$70.
According to a report by Blue Whale Technology, the reporter learned exclusively from people familiar with the matter that Step Star will launch an AI smart phone and the listed company Huaqin Technology will be responsible for OEM production. Also, according to people familiar with the matter, Huaqin Technology and Step Star have a deep partnership, and it is not a simple OEM model. According to reports, the Huaqin Technology supernode project is expected to begin shipping in the second quarter of this year and begin large-scale delivery in the second half of this year.
Zhaoyi Innovation (03986) opens high and goes low. At the close, it fell 21.05 percent to HK$742.5.
On July 13 (next Monday), Zhaoyi Innovation H shares will soon welcome the lifting of the ban on restricted shares by Cornerstone Investors. According to the data, a total of 18 shareholders have been unbanned, and a total of 14.3943 million shares have been unbanned. Zhaoyi Innovation recently disclosed that net profit attributable to shareholders of listed companies for the first half year of 2026 is estimated to be around 6.9 billion yuan, an increase of about 1099% over the previous year.