Hong Kong stocks closed (08.03) | Hang Seng Index closed up 0.48% and stood at 20,000. Alibaba-W (09988) rose more than 7%, and PV stocks showed strong performance

The Zhitong Finance App learned that Trump has once again TACO and announced that the US-Iran negotiations are about to resume. Hong Kong stocks had a good start in August. The three major indices fluctuated higher throughout the day, and the Hang Seng Index reached the 26,000 mark. At the close, the Hang Seng Index rose 0.48% or 124.97 points to 26009.4 points, with a full-day turnover of HK$255.179 billion; the State-owned Enterprises Index rose 0.46% to 8652.15 points; and the Hang Seng Technology Index rose 0.96% to 4875.61 points.

Well-known analyst Zhang Yidong pointed out that it is currently in a strategic layout window similar to “danger” and “opportunity” in the aftermath of the cold summer wind. The hard-core assets of the Chinese stock market have gradually entered the left-hand layout window and began the fall market in August. In particular, Hong Kong stocks may have stabilized ahead of overseas markets. A-shares and Hong Kong stocks have released some of the risks ahead of schedule since they were first adjusted in mid-May. Currently, the market has basically confirmed the bottom area and has moved into a phase of shrinking, bottoming out and gaining momentum.

Blue-chip stock performance

Alibaba-W (09988) performed well. At the close, it rose 7.01% to HK$125.2, with a turnover of HK$23.935 billion, contributing 130.61 points to the Hang Seng Index. Alibaba released the Thousand Questions 3.8-Max, with a parameter scale of 2.4 trillion yuan. Benchmarks showed that its programming and general intelligence capabilities were comparable to Anthropic Fable 5, surpassed some indicators, and showed remarkable autonomous execution capabilities in long-range tasks such as chip design, quantitative research, and e-commerce simulation.

In terms of other blue-chip stocks, Xinyi Solar (00968) rose 13.41% to HK$2.495, contributing 2.08 points to the Hang Seng Index; New Oriental-S (09901) rose 4.73% to HK$47.42, contributing 2.57 points to the Hang Seng Index; Shenzhou International (02313) fell 3.01% to HK$43.24, dragging down the Hang Seng Index by 1.71 points; Ideal Automobile-W (02015) fell 2.9% to HK$51.85, dragging down the Hang Seng Index by 3.31 points.

Popular sector aspects

On the market, most of the large science and network stocks flourished. Ali rose more than 7%, Baidu rose nearly 4%, and Tencent and Kuaishou rose more than 3%. The “anti-internal roll” continues to advance, and photovoltaic stocks have been strong throughout the day; China has approved 8 new nuclear power units, and the nuclear power concept is active; AI applications continued to rise, rising more than 13% after rapid succession; wind power stocks, robotics concepts, paper stocks, commercial aerospace, etc. are improving. On the other side, storage concepts declined the most; aluminum stocks, coal, and gaming stocks weakened.

1. PV stocks were strong throughout the day. At the close, Xinyi Solar (00968) rose 13.41% to HK$2.495; GCL Technology (03800) rose 11.48% to HK$0.68; Follett Glass (06865) rose 11.22% to HK$7.73; and Xinte Energy (01799) rose 8.25% to HK$4.2.

The main polysilicon futures contract rose and stopped in the afternoon at 35,890 yuan/ton. On July 31, the General Administration of Market Regulation carried out price compliance guidance for the photovoltaic industry in Yancheng City, Jiangsu Province, implemented the decisions and arrangements of the Party Central Committee and the State Council to further rectify “internal” competition, promoted the transformation of photovoltaic companies from “price competition” to “quality competition”, and promoted the high-quality development of the photovoltaic industry. Earlier, the group standard “PV Industry Cost Accounting Model Rules”, led by the China Photovoltaic Industry Association, was officially released, marking a gradual shift in cost management in the photovoltaic industry from individual enterprise accounting to unified approval standards and verifiability throughout the entire industry chain.

2. The nuclear power concept is impressive. At the close, Dongfang Electric (01072) rose 9.29% to HK$23.52; Shanghai Electric (02727) rose 5.59% to HK$3.4; and CGN (01816) rose 2.77% to HK$2.97.

On July 31, the Executive Meeting of the State Council reviewed and approved 8 nuclear power units. The total number of nuclear power projects approved this time is 4, with a total of 8 units, as follows: CNNC Zhejiang Jinqimen Nuclear Power Phase II 2 units; Liaoning Zhuanghe Nuclear Power Phase I 2 units; CGN Guangdong Taipingling Nuclear Power Phase III 2 units; and China Power Investment Corporation Shandong Laiyang Nuclear Power Phase 1 units. According to estimates, the total investment in these newly approved projects will exceed 170 billion yuan. Among them, Jinqimen Nuclear Power Unit 3 and Taipingling Nuclear Power Unit 5 and 6 will use version 2.0 of the “Hualong 1” technology integration scheme.

3. The direction of AI applications continues to rise. At the close, Mingluo Technology-W (02718) rose 15.62% to HK$53; Kingdee International (00268) rose 3.9% to HK$8.655; and Kuaishou-W (01024) rose 3.02% to HK$45.02.

Recently, the “software devouring theory” was gradually revised, the US stock software index continued to recover, and AI Security and AIInfra Software stocks ushered in a sharp rise. It is worth noting that news from big models continues. MiniMax released MiniMax H3, a new generation multi-modal generation model on July 31; on the same day, ByteDance launched the next-generation video creation model Seedance 2.5. Meanwhile, the official version of DeepSEEK-v4-Flash was released, and the process continued over the weekend. Additionally, OpenAI lowered call pricing for GPT-5.6 Terra and GPT-5.6Luna, significantly lowering the access threshold.

4. The storage concept dropped a lot. At the close, Nanfang doubled down, Hynix (07709) fell 16.65% to HK$35.44; Lanqi Technology (06809) fell 7.51% to HK$248.8; and GigaYi Innovation (03986) fell 7.49% to HK$424.6.

On August 3, Korea's KOSPI index closed down 5.13% to 6257.41 points. Among them, SK Hynix and Samsung Electronics both fell by nearly 9%. Korea's KOSPI index rose by a record 18% last Friday, with SK Hynix shares rising 30%. According to exchange data, foreign investors became the biggest net seller of KOSPI index constituent stocks in early trading on Monday; retail investors bought, and local funds also sold. Furthermore, the latest research report on Guojin Strategy points out that from the perspective of clearing chips, the domestic AI chain's clearance signal is weaker than overseas, so the rebound is more like a “recovery after a sharp decline.”

Popular exotic stocks

Angel of the Times (06699) skyrocketed . At the close, it was up 17.96% to HK$94.25.

Time Angel announced that in the first half of 2026, the group expects total revenue of about US$229 million to US$231 million, an increase of 41.9% to 43.1% year on year; net profit of about US$24 million to US$25.4 million, an increase of 69.0% to 78.9% year on year. The total number of cases of invisible correction was about 316,600, an increase of 40.2% over the previous year.

Xunce (03317 ) had a strong performance. At the close, it was up 13.53% to HK$117.5.

Xunce Technology expects revenue for the first half of the year to reach 967 million yuan, a year-on-year increase of 389%, a record high for the same period; net profit to mother reached 72.51 million yuan, and adjusted net profit of 67 million yuan, all of which turned losses into profits. The high increase in performance mainly benefits from the centralized release of enterprise AI demand, accelerated business expansion across industries, and additional revenue brought about by TokenOS deployment and increased token call volume.

Lenovo Holdings (03396) had a positive profit. At the close, it rose 10.56% to HK$14.55.

Lenovo Holdings expects net profit attributable to the company's equity holders to be no less than RMB 2 billion in the first half of this year, an increase of no less than 186% over the same period last year. This expected increase is mainly due to the recovery in the capital market, and the investment business of the company's industrial incubation and investment sector turned losses into profits.

MINIMAX-W (00100 ) climbed again. At the close, it was up 7.2% to HK$247.2.

The MiniMax H3 model is officially open source. MiniMax H3 is a general purpose full modal generation system. It uniformly understands the multi-modal context of text, images, video, and audio, and can produce video up to 2K resolution, up to 15 seconds long, with native stereo audio.

IFBH (06603) reached a record low. At the close, it fell 15.42% to HK$5.21.

IFBH announced that in the first half of 2026, the company's net profit is expected to plummet 65% to 75% year on year, and revenue will drop 40% to 50% year on year. The company attributed the main causes to geopolitical tension and weak consumer sentiment across categories.