[Hong Kong Stock Market Close] At the start of the second half of the year, the Hang Seng Index rose by 174 points; BYD and CSPC Pharmaceutical rose 8%; SMIC fell by 10%; 7709 and 7747 plunged more than 26% (updated continuously).

[Hang Seng Index/HSI/Hang Seng Index/Hang Seng Index/HSI/Hang Seng Index/Hong Kong Stocks/Night Trading/ADR] Hong Kong stocks kicked off the second half of the year, with the overall market rising by more than 100 points. On the first trading day of July, the Hang Seng Index opened 190 points higher, at 23,071 points, and at one point surged by as much as 454 points to a high of 23,335 points. The Hang Seng Index closed at 23,055 points, up 174 points; turnover was HK$369.63 billion. The Tech Index fell 0.4%, to 4,454 points. BYD (01211) and CSPC Pharmaceutical (01093) rose 8% each; SMIC (00981) dropped by 10%; and Yangtze Optical Fibre and Cable (06869) plunged 22%. XL CSOP Hynix (07709) and XL CSOP Samsung (07747) both fell by more than 26%.

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Live market performance:

[16:08] The Hang Seng Index closed at 23,055 points, up 174 points, with turnover of HK$369.63 billion. The Tech Index fell 0.4%, to 4,454 points. BYD (01211) and CSPC Pharmaceutical (01093) rose 8% each; SMIC (00981) dropped by 10%; and Yangtze Optical Fibre and Cable (06869) plunged 22%. XL CSOP Hynix (07709) and XL CSOP Samsung (07747) both fell by more than 26%.

[15:48] Yangtze Optical Fibre and Cable (06869) fell more than 22% at the close, hitting a low of HK$198.4.

[15:06] Near the end of trading, gains in Hong Kong stocks narrowed to about 80 points, retreating to below the 23,000-point level, at 22,959 points.

[14:38] [Tse Sui Luen’s granddaughter] Even the princes’ daughters have to cross the ocean to snatch goods! Bethany shows off ultra-stunning gemstone jewelry; netizens are going crazy praising it—demanding the brand—sell-outs are happening fast, pre-orders are needed.

[13:46] [AI + Hang Seng Index] Hang Seng Index Company teams up with the Cyberport community to develop AI to help design thematic indices. Lee Man-lung: Boosting index operations.

[13:38] The market’s advance further narrowed to nearly 150 points.

[13:28] SMIC International (00981) fell 10% in the afternoon, to a low of 80.1 yuan. XL CSOP Hynix (07709) fell more than 22%, while XL CSOP Samsung (07747) fell 25%.

[13:28] [Capital markets] In the first half of the year, Hong Kong ECM raised more than HK$346.3 billion, hitting a 5-year high. New share fundraising firmly stayed in the No. 2 spot globally.

[13:17] [1211] BYD rose to nearly 10% at one point. Its self-developed 4-nanometer chip “Xuanji A3” is expected to be installed on next year’s new vehicle model “Denza”.

[13:10] [Broker report] JPMorgan cuts its target price for Hong Kong utility stocks; expects stock prices to fluctuate within the third-quarter range—valuation is no longer cheap (with table).

[13:01] In the early afternoon, Hong Kong stocks were up about 210 points, at 23,091 points, with turnover of HK$217.6 billion. The Tech Index rose 0.2%, to 4,480 points.

[12:21] [AI + 1024] Kuaishou’s “Kuaishou Kling AI,” it is reported, is set to complete a funding round of RMB 23.4 billion, with Tencent participating; the valuation is estimated at RMB 140 billion.

[12:00] The Hang Seng Index rose 273 points in the first half of the session, to 23,154 points, with turnover of HK$213.39 billion. The Tech Index rose 0.6%, to 4,499 points. ATM rose 2% to 4%. Auto stocks and pharmaceutical stocks performed well: BYD (01211) rose more than 8%, while CSPC Pharmaceutical (01093) rose 7%. Chip stocks fell—SMIC International (00981) dropped nearly 9%, and HUA HONG Semiconductor (01347) fell nearly 10%. XL CSOP Hynix (07709) and XL CSOP Samsung (07747) fell 20% to 23%, respectively.

[11:53] CSPC Pharmaceutical (01093) rose more than 7%, and WuXi Biologics (02269) rose more than 3%. China Biopharmaceutical (01177) rose by half a percentage point.

[11:38] By midday close, the Hang Seng Index was up about 214 points, at 23,095 points, with turnover of HK$202.4 billion. The Tech Index rose 0.5%, to 4,493 points.

[11:24] [New stock IPO] PricewaterhouseCoopers raised its forecast for this year’s Hong Kong IPO fundraising to HK$380 billion.

[11:16] The market’s advance further narrowed to about 160 points.

[11:03] Gold stocks moved higher: Zijin Mining (02899) rose more than 5%; Zijin Gold International (02259) rose 10%; Zhaojin Mining (01818) rose more than 7%; and Lingbao Gold (03330) rose more than 13%.

[10:50] [Subsidiary of HKEX] Reportedly, LME is considering easing rules, including allowing outdoor storage of aluminum, to overcome Hong Kong’s limited space.

[10:24] The market’s rally eased, with the Hang Seng Index recently up about 250 points. Auto stocks led the way—BYD (01211) rose more than 8%.

[10:12] [AI + Pharmaceuticals] Insilico Medicine and Takeda have reached an AI-enabled drug discovery collaboration. The transaction value is up to RMB 4.7 billion. After the stock price rose by 10%, it then turned lower.

[09:53] Zhipu (02513) fell nearly 10%, dropping to the 1,900 yuan level. MINIMAX (00100) fell more than 6%, while Xunce (03317) rose more than 15%.

[09:47] SMIC International (00981) fell 8%, XL CSOP Hynix (07709) fell 18%, and XL CSOP Samsung (07747) dropped 20%.

[09:45] Alibaba (09988) and Xiaomi (01810) rose 4%. Tencent (00700) rose 3%, and Meituan (03690) rose more than 7%.

[09:43] After the opening of Hong Kong stocks, gains expanded to more than 400 points, reclaiming the 23,300-point level.

[09:29] Auto stocks performed well: BYD (01211) rose more than 4%, Geely (00175) rose more than 2%, Xiaomi (01810) rose more than 3%, and NIO, Xpeng, and Li Auto rose 0.4% to 4%.

[Electric vehicles] One article to understand June’s performance of new energy vehicle companies: BYD sales exceed 400,000 units; Leapmotor deliveries exceed 90,000 vehicles (updates continuously).

[09:27] [New stock IPO] Anker Innovations 668 began trading at 99.3 yuan, with a low pricing that is less than 0.1%; each lot saw a slight loss of 2 yuan.

[09:22] The Hang Seng Index opened 190 points higher, at 23,071 points, with turnover of HK$72.6 billion. The Tech Index rose 1.3%, to 4,528 points. Alibaba (09988) rose more than 2%, Tencent (00700) rose 3%, SMIC International (00981) fell nearly 6%. South Korean stocks fell, and XL CSOP Hynix (07709) and XL CSOP Samsung (07747) fell 15%.

[Asia-Pacific stocks] The KOSPI index fell more than 6% and the Nikkei 225 index fell more than 2%, weighed down by Meta’s plan to sell computing power and Apple’s plan to procure from ChangXin Memory Technologies and Yangtze Memory Technologies.

[09:13] Hang Seng Index futures rose by about 220 points in night trading, to 23,034 points.

[08:06] [9988] Alibaba and a payments company will pay more than HK$4.6 billion to close the U.S. investigation into illegal drug sales.

[07:45] Hong Kong stocks were closed for the July 1 holiday. ADR performance was strong: Baidu’s U.S. stocks were up 5% versus Hong Kong; JD.com’s U.S. stocks were up 4% versus Hong Kong; Alibaba’s U.S. stocks were up 3% versus Hong Kong; and after auto stocks released their data, they moved higher—BYD’s ADR was up 6% versus Hong Kong; XPeng’s U.S. stocks were up 5% versus Hong Kong; and Li Auto’s U.S. stocks were up 4% versus Hong Kong.

More Hong Kong ADR and China concept stock quotes:

[07:30] A delegation of Iranian negotiators said that the U.S. violated the understanding and commitments and would establish a supervisory group to review U.S. violations; additionally, Fed Chair Kevin Warsh said in remarks at a meeting of the European Central Bank that the Fed would open up a new route, but he refused to provide guidance on interest rates. Market investment sentiment is cautious; U.S. stocks have seen sharp swings. After the Dow rose 423 points, it reversed and fell. The Dow closed at 52,305 points, down 13 points. The S&P 500 retreated 0.22%, and the Nasdaq fell 0.66%.

Watch U.S. stocks’ closing performance:

For the Hong Kong stock market’s previous session, see: [Hong Kong night trading + ADR + Northbound Capital] Hong Kong ADRs performed well, auto stocks were strong, and Alibaba’s U.S. stocks rose 3% versus Hong Kong.