Hang Seng Tech Index falls 1.63%, auto sector gains strength | Hong Kong stock market closing review

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On April 2, Hong Kong stocks fluctuated and moved lower, the Hang Seng Index closed down 0.7%, and the Hang Seng Tech Index fell 1.63%.

Weighted tech stocks fell, Xiaomi Group fell more than 3%, and Alibaba fell more than 3%.

AI application stocks led the decline, Zhipu fell nearly 15%, and MINIMAX-W fell more than 10%.

Chip stocks generally fell across the board, Shanghai Fudan fell more than 7%, HuaHong Semiconductor fell more than 5%, and SMIC fell more than 3%.

The auto sector strengthened, Chery Automobile rose more than 15%, Geely Automobile rose more than 8%, and Great Wall Motors rose more than 7%.

On the news front, according to Cailian Press, data on March deliveries for multiple new energy vehicle companies showed a clear rebound. Leapmotor delivered 50,029 vehicles in March, up 34.87% year over year and up 78.25% month over month, continuing its leading position among “new forces”; Li Auto delivered 41,053 new vehicles in March, with year-on-year and month-on-month growth of 11.94% and 55.38%, respectively. Also exceeding quarterly guidance was NIO: in March, NIO completed deliveries of 35,486 vehicles, up 135.96% year over year and up 70.63% month over month.

The oil and petrochemical sector surged, Changying Group (Holdings) rose more than 18%, Shandong Molong rose more than 16%, and Yuanheng Gas, Baijin Oil Service, and others also rose.

On the news front, according to CCTV News, on April 2, U.S. President Trump said that in the past the United States did not need the Strait of Hormuz, and it does not need it now. In addition, Trump said that once an agreement cannot be reached, the U.S. will launch a fierce attack on all power plants in Iran. Trump also said the U.S. is carrying out close monitoring and control of these facilities via satellites. If any abnormal movement is detected by the other side, the U.S. will immediately launch missiles to deliver a “destructive” strike.

Individual stock movements

Brainwave Aurora-B once surged more than 14% during intraday trading

On April 2, Brainwave Aurora-B once surged more than 14% during intraday trading, closing up 2.86%. On the news front, Brainwave Aurora-B released an announcement on the morning of April 2, stating that the company has recently officially become a strategic cooperation unit of the Beijing Frontier Brain-Computer Interface Research Institute.

Changfei Optical Fiber Cable once rose to nearly 8% during intraday trading

On April 2, Hong Kong’s fiber optic concept stocks strengthened again. Changfei Optical Fiber Cable once rose to nearly 8% during intraday trading. As of 13:08, the stock was up 4.14%.

On the news front, recently, Changfei Optical Fiber Cable released its 2025 performance showing that in 2025, the company achieved revenue of 14.252 billion yuan, up 16.85% year over year, and net profit attributable to the parent of 814 million yuan, up 20.40% year over year. Among them, in the fourth quarter, the company achieved net profit attributable to the parent of 344 million yuan, up 234.23% year over year.

March sales up 15% year over year; Chery Automobile rose more than 15%

On April 2, Chery Automobile traded higher amid fluctuations, closing up 15.26%. On the news front, Chery Automobile announced on April 1 that its March monthly vehicle sales were 228,000 vehicles, up 15% year over year; cumulative sales for the first quarter totaled 566,000 vehicles.