Hang Seng Index closes up 0.05%, chip stocks lead the gains | Hong Kong stock market closing review

On May 11th, the Hang Seng Index closed up 0.05%, and the Hang Seng Tech Index closed up 0.07%.

Chip stocks led the rally, Lianchuang Technology rose over 11%, SMIC rose over 4%, and Huahong Semiconductor rose over 2%.

Alibaba fell nearly 4%, Baidu fell nearly 3%, Tencent fell over 1%, Meituan slightly rose.

The gains in the optical communication sector slowed down, Cambridge Technology rose over 1%, and Longfei Optical Fiber Cable rose over 5%.

Gold stocks weakened, Chifeng Gold fell over 9%, Lingbao Gold and Zhufeng Gold both fell over 8%.

In terms of news, spot gold and COMEX gold futures prices both fell below $4,700 per ounce.

On May 11th, Jingxi International (02339.HK) resumed trading with an opening surge of over 80%, then slightly retreated, closing up 49.33% at HKD 6.690.

In news, on the evening of May 10th, Jingxi International announced potential changes in its controlling shareholder’s equity and the resumption of trading arrangements, with consumer electronics leader Luxshare Precision acquiring a stake to indirectly hold about 59.50% of Jingxi International. The company previously announced that trading of its shares would be suspended on the Hong Kong Stock Exchange from 9:00 a.m. on April 8, 2026, pending the publication of the announcement regarding the potential change in controlling shareholder’s equity; the company has applied to the exchange to resume trading from 9:00 a.m. on May 11, 2026.

On May 11th, the Hong Kong-listed new stock LeDun Robotics (01236.HK) opened 102% higher on its first day of listing, closing up 127.62%, with a closing price of HKD 60.

Shenzhen LeDun Robotics Co., Ltd. is one of the companies with a set of intelligent robot visual perception technology product matrices, covering multiple laser radar products for intelligent robots. The company’s intelligent visual perception products are installed in a wide range of robots (such as vacuum robots, lawn mowing robots, guest room service robots, restaurant delivery robots, inspection robots, and logistics robots). According to Zhuoshi Consulting data, based on 2024 revenue, LeDun Robotics is the world’s largest intelligent robot company centered on visual perception technology. By 2025, the number of intelligent robot devices equipped with its visual perception technology has exceeded 9 million units, with core products DTOF laser radar surpassing 4 million units, ranking first globally.

According to the allotment result announcement, it was subscribed 6707.66 times during the public offering phase and 9.54 times during the international offering phase.