Hang Seng Rises 143 Points as Alibaba, SMIC Lead Rally; Yuanxun Energy Soars 115% on Debut
SingTao · 2 SOURCESabout 4 hours ago1 MIN
Summary
The Hang Seng Index opened sharply higher on Monday morning, November 9, 2026, driven by broad gains in tech stocks. Alibaba and SMIC led the rally with approximately 2.2% gains each, while Tencent rose 1.3% and Meituan added 0.3%. The star performer was debutant Yuanxun Energy Storage, which opened at HK$21, representing a remarkable 114.7% jump from its listing price of HK$9.78.
Key Points
- Hang Seng Index opened at 24,625, up 143 points, and extended gains to rise 150 points or 0.61% to 24,632
- Alibaba (9988) climbed 2.2% and SMIC (981) gained 2.2%; Tencent (700) rose 1.3% and Meituan (3690) added 0.3%
- Main board turnover reached HK$13 billion in early trading, with the Tech Index rising 41 points or 1.01% to 4,119
- Wu Xing Energy Storage (9621) debuted at HK$21, up 114.7% from its IPO price of HK$9.78
- Xiaomi (1810) rose nearly 2% amid reports of establishing an International Business Division for its automotive unit
Why It Matters
The strong opening reflects renewed investor confidence in Hong Kong's tech sector, particularly in AI, semiconductors, and new energy. Nvidia's CEO scandal and the ongoing US-China tech tensions, including potential legislation targeting AI and data centers, suggest the sector will face continued regulatory scrutiny while maintaining market momentum .
The strong opening reflects renewed investor confidence in Hong Kong's tech sector, particularly in AI, semiconductors, and new energy. Nvidia's CEO scandal and the ongoing US-China tech tensions, including potential legislation targeting AI and data centers, suggest the sector will face continued regulatory scrutiny while maintaining market momentum .