HSI Falls 108 Points; Hansoh Pharma Surges 14% on Strong Results, Chip and PCB Stocks Rally
SingTao · 1 SOURCESabout 2 hours ago2 MIN
Summary
The Hang Seng Index reversed early gains to trade lower on Thursday morning, with the benchmark falling 108 points or 0.42% to 25,544 as concerns over potential US interest rate hikes dimmed sentiment. While blue chip Hansoh Pharmaceutical led gainers with a 14% surge after delivering robust first-half results, the broader market faced headwinds from overnight weakness on Wall Street. Tech stocks showed mixed performance, though AI-related names continued to attract buying interest amid the sector's momentum.
Key Points
- The HSI opened 121 points higher at 25,774 but quickly turned negative, falling as much as 152 points to 25,500 before settling at 25,544 with turnover reaching HK$125.3 billion
- Hansoh Pharmaceutical (3692) reported H1 net profit of 4.26 billion yuan, representing a 35.82% year-on-year increase, with revenue of 8.3 billion yuan rising 11% and innovative drugs accounting for over 85% of total sales
- Baidu (9888) announced voluntary conversion to dual primary listing status, expected to take effect by September 7, with shares rising 6.66% to HK$96.95
- Chip stocks rallied following Nvidia's strong Q2 results and above-forecast FY2028 guidance, with Lanji's Technology (6809) surging 10.29%, Xianqi Weizhuang (9630) gaining 7.86%, and GigaDevice (3986) rising 6.85%
- US core PCE inflation came in at 3.3% year-on-year and 0.2% month-on-month in July, both meeting expectations but raising rate hike concerns ahead of Fed Chair Powell's Jackson Hole speech
Why It Matters
The divergent performance between defensive healthcare names like Hansoh Pharma and rate-sensitive tech stocks underscores ongoing market uncertainty as investors weigh domestic earnings strength against external monetary policy risks. The AI sector's resilience, evidenced by continued buying in Zhipu and MiniMax despite broader market weakness, suggests sustained institutional interest in China's technology transformation even as macroeconomic headwinds persist .
The divergent performance between defensive healthcare names like Hansoh Pharma and rate-sensitive tech stocks underscores ongoing market uncertainty as investors weigh domestic earnings strength against external monetary policy risks. The AI sector's resilience, evidenced by continued buying in Zhipu and MiniMax despite broader market weakness, suggests sustained institutional interest in China's technology transformation even as macroeconomic headwinds persist .