Hong Kong stock indices closed with divergent performance on Monday, July 13, with the Hang Seng Index edging up 0.16% to 24,213.72 points while the Hang Seng Tech Index fell 0.96% to 4,676.43 points. The mixed session was driven by a sharp selloff in storage and technology stocks, offset by gains in oil-related equities amid Middle East geopolitical tensions. Market turnover reached HK$309.515 billion, reflecting heightened trading activity across sectors.
Hong Kong Stocks Close Mixed on July 13
The Hang Seng Index closed Monday at 24,213.72 points, up 0.16%, while the Hang Seng China Enterprises Index gained 0.33% to 8,065.97 points. The Hang Seng Tech Index underperformed throughout the session, declining 0.96% to close at 4,676.43 points. Total market turnover reached HK$309.515 billion.
Storage and Technology Stocks Lead Declines
Storage concept stocks suffered heavy losses, with 兆易創新 falling over 15%. Leveraged ETFs tracking major chipmakers also plunged, with 南方兩倍做多海力士 dropping 33% and 南方兩倍做多三星電子 declining 20%. PCB concept stocks also retreated collectively, led by 建滔集團, which tumbled 19.18% after major shareholder Hallgain reduced its stake. 建滔積層板 fell over 18%. AI large model concept stock MINIMAX-W declined more than 17%, and automotive sector name 賽力斯 dropped over 13%.
Oil Stocks Rally on Middle East Tensions
Oil-related stocks rose collectively as crude oil geopolitical premiums increased due to Middle East conflicts and Iran sanctions. 山東墨龍 surged 11.18%, while 中海油田服務 and 中石油 also posted gains. Among blue-chip stocks, 中國宏橋, 龍湖集團, and 華潤啤酒 led gainers with advances exceeding 3.2%.
Analysts Highlight Central Bank Support and Sector Opportunities
CITIC Securities noted that the central bank stated it will continue to increase the allocation ratio of foreign exchange reserves in Hong Kong assets, which has strongly supported the recent rebound momentum of Hong Kong stocks. Zhongtai International expressed optimism about the new national essential medicine catalog's support for innovative drugs and recommended attention to related pharmaceutical leaders. Huatai Strategy advised investors to shift from simple valuation repair to focus on fundamentals and earnings visibility, seeking oversold rebound opportunities.
FAQ
What was the performance of Hong Kong stocks on July 13?
The Hang Seng Index rose 0.16% to 24,213.72 points, the Hang Seng China Enterprises Index gained 0.33% to 8,065.97 points, and the Hang Seng Tech Index fell 0.96% to 4,676.43 points. Market turnover reached HK$309.515 billion.
Why did storage and technology stocks decline sharply on July 13?
Storage concept stocks led declines, with 兆易創新 falling over 15% and leveraged ETFs tracking chipmakers dropping 20-33%. PCB stocks also retreated, with 建滔集團 falling 19.18% after shareholder Hallgain reduced its stake, and 建滔積層板 declining over 18%.
What did CITIC Securities say about Hong Kong stock market support?
CITIC Securities stated that the central bank indicated it will continue to increase the allocation ratio of foreign exchange reserves in Hong Kong assets, which has strongly supported the recent rebound momentum of Hong Kong stocks.
