On October 23, 2025, the Hong Kong market bounced back. All three major indices rose. The Hang Seng Index was up 1.25%. The H-shares and Technology Index also followed.

Power-related stocks stood out. Solar, wind, and equipment, etc. Pharmaceuticals are also doing well. Beauty, biotech, innovative drugs, and outsourcing are among the top.

Semiconductors are also rising across the board. Gold and non-ferrous metals also seem to be doing well.

However, large consumer stocks fell instead. Food, pork, dairy products, baby products. Hong Kong retail and luxury brands are also weak. Local consumption, online healthcare, and beer are also lackluster.

Food stocks are quite tough. Uni-President China has fallen by over 4%. China Want Want has also dropped by nearly 2%. It seems that the economic slowdown in mainland China is having an impact. Consumer sentiment also feels lukewarm.

However, there is also a sense of expectation for health foods. Companies dealing in organic and functional foods are attracting attention. There seems to be room for growth.