Hong Kong stocks closed (09.10) | The Hang Seng Index closed down 1.27% and fell below 20,000. Technology stocks were generally pressured and high-yield stocks such as the Bank of China reversed the market

The Zhitong Finance App learned that the US Treasury bailout triggered a new round of sell-off. Coupled with another escalation of the geographical situation in the Middle East and the return of international oil prices above 100 US dollars per barrel, the three major Hong Kong stock indices collectively opened low today, and the Hang Seng Index fell below the 25,000 mark. At the close, the Hang Seng Index fell 1.27% or 320.49 points to 24954.47 points, with a full-day turnover of HK$198,865 billion; the Hang Seng State-owned Enterprises Index fell 1.13% to 8274.78 points; and the Hang Seng Technology Index fell 2.04% to 4330.49 points.

Huatai Securities believes that looking back, if the FOMC finally gives clear guidelines in September, regardless of whether interest rates are raised or not, it will help calm current market fluctuations. Instead, the game may be delayed until December. Until then, there was uncertainty about winning the election, and market turmoil would further increase. Currently, we are still in the “driving in the fog” stage, and the four major suspense issues are still unclear. We still recommend a balanced configuration.

Blue-chip stock performance

China Construction Bank (00939) rebounded against the market. At the close, it rose 1.61% to HK$9.765, with a turnover of HK$2,407 billion. In the first half of the year, CCB achieved operating income of 436.529 billion yuan, an increase of 10.7% over the previous year; net profit to mother was 169.564 billion yuan, an increase of 4.6% over the previous year. The 2026 mid-term dividend plan was implemented, with a cumulative total dividend of 52.58 billion yuan (tax included), the dividend ratio increased to 31%, and shareholder returns were relatively good.

In terms of other blue-chip stocks, China Life Insurance (02628) rose 2.24% to HK$30.14; China Unicom (00762) rose 1.56% to HK$5.87; Weichai Power (02338) fell 7.05% to HK$31.62; and Haidilao (06862) fell 4.11% to HK$9.915.

Popular sector aspects

On the market, the performance of TechNet stocks was under pressure, with Alibaba falling 2.64% and Tencent Holdings falling 1.94%. Low-wave and high-dividend assets such as the Bank of China strengthened against the market. CCB rose 1.61%, the geographical situation escalated and oil prices broke 100, and CNOOC Oilfield Services rose 2.08%; robot concept stocks broke out partially, and Youdi Robotics reached a new high the day after the listing, and Xiangong Intelligence rose more than 14%. On the other side, yesterday's strong computing power hardware stocks were generally under pressure; auto stocks continued to be weak, and the performance of gold stocks and innovative drug concept stocks was sluggish.

High-yield stocks such as the Bank of China reversed the rise. At the close, Bank of Communications (03328) rose 2.15% to HK$8.06; CCB (00939) rose 1.61% to HK$9.77; and Bank of China (03988) rose 0.93% to HK$5.97.

According to the CITIC Securities Research Report, global long-term interest rates continue to rise, and the yield advantage of high dividends on Hong Kong stocks has narrowed compared to risk-free assets overseas. In terms of allocation, cash flow stability, profit certainty, and dividend sustainability should be further examined, and attention should be paid to the segment direction where southbound holdings are relatively high and marginal pricing power for foreign capital is relatively low. It is recommended that priority be given to banks, coal, property management, and gas. Among them, banks' interim profit reports, recent revisions to expectations, and a relatively stable chip structure. Coal has both profit growth and expected improvement, while property management and gas have good dividend protection.

Gold stocks are generally under pressure. At the close, Shandong Gold (01787) fell 3.96% to HK$24.74; Lingbao Gold (03330) fell 3.31% to HK$23.36.

The US Treasury Department announced that it would raise the upper limit of a single long-term treasury bond repurchase to 6 billion US dollars, three times the original size last month, but this effort has not stopped the sell-off trend in the bond market. The 10-year US Treasury yield hit a three-year high in the intraday period. Geographically, Iran said on Wednesday that after the US sank five Iranian tankers, the country attacked 10 ships near the Strait of Hormuz. This is the largest round of attacks on ships launched by both sides in the six months since the start of the US-Iran war. Affected by this, Brent crude oil rose above the $100 mark per barrel for the first time since the end of July, further heating up concerns about inflation. CITIC Futures believes that gold is expected to remain volatile in the short term, and that the US inflation data during the week will be an important catalyst for the next phase of direction selection.

Innovative drug concept stocks continued to fall. At the close, Hanson Pharmaceuticals (03692) fell 4.20% to HK$33.34; Cinda Biotech (01801) fell 3.92% to HK$94.35; and CSPC Pharmaceuticals (01093) fell 3.63% to HK$8.77.

Live negotiations and price negotiations for the 2026 national talks have come to an end, and the waiting period for the results has officially entered. Whether it is the major variety pattern that has already been negotiated at the basic health insurance level or the commercial insurance catalogue list finalized on the same day, the results will affect the domestic market competition pattern and payment system trend for innovative drugs in the coming year. Furthermore, the Lyon Research Report pointed out that Novartis CEO's latest review of the Lp (a) HORIZON study may attribute the failure of the study to the limited cardiovascular benefits of late reduction in Lp (a) compared to lifelong genetic Lp (a) exposure, which will put pressure on mainland Lp (a) participants, including CSP Group.

Popular exotic stocks

Zhida Technology (02650) has soared in volume. At the close, it was up 107.22% to HK$14.92.

On September 9, the 2026 Inclusion · Bund Conference with the theme of “Co-creating a New AI Economy” was held in Shanghai. The company was invited by Ant Group to bring Robot, a pioneer in the “bladed” home charging robot, to the smart cockpit exhibition area of the conference. At the exhibition site, Pioneer Robot completed a smooth automatic charging process for Ideal L9: the robot automatically recognizes the location of the charging port and quickly completes accurate charging of the plug-in gun without manual intervention throughout the process.

Youdi Robotics (03231) reached a new high the day after launch. At the close, it was up 25.57% to HK$46.06.

In 2025, Youdi Robotics achieved revenue of 318 million yuan, of which sales revenue of robot products was about 135 million yuan, accounting for 42.5%, and revenue from AI visual model solutions was about 119 million yuan accounting for 37.5%. Taken together, more than half of the revenue comes from AI vision projects, robot operations, and equipment leasing. The RaaS (Robot-as-a-Service) business is the biggest highlight. From 2023 to 2025, RaaS revenue increased 4.3 times from 9.38 million yuan to 49.88 million yuan.

Gangnam Puyi (03306) rebounded against the market. At the close, it was up 7.20% to HK$21.00.

Jiangnan Buyi announced its annual results for the year ended June 30, 2026, with revenue of 6.046 billion yuan, up 9% year on year; net profit of 997 million yuan, up 11.7% year on year, with profit of 1.93 yuan per share. The Board recommended a final dividend of HK$1.06 per share and a special dividend of HK$0.75 per share, for a total of HK$1.81 per share.

Daikin Heavy Industries (01081) rebounded against the market. At the close, it was up 6.09% to HK$28.58.

Over the past 26 years, Daikin Heavy Industries KING series special transport fleets have gradually achieved standardized batch delivery. KING ONE launched its maiden voyage in February and successfully completed the transport mission for the first European single pile project. The second shipping mission was successfully completed in May; the KING TWO ship completed delivery in July, and the BC Wind project's first batch of single piles shipping & maiden voyage began on September 2; KING THREE is scheduled to be delivered by the end of September.

Lingyi Intelligent Manufacturing (01688) is active against the market. At the close, it was up 3.20% to HK$6.55.

According to a report by the China Securities News, we have learned exclusively from people in the industry chain that Lingyi Intelligent Manufacturing is Apple's first folding screen phone, the iPhone Duo supplier. The company supplies Apple with core precision parts related to next-generation terminal products, covering products such as precision structural parts of hinges, screen support plates, and ultra-thin heat sinks. The value of the stand-alone products supplied is higher than that of straight plate machines.

Haidilao (06862) continued to move lower. At the close, it fell 4.41% to HK$9.915.

Haidilao announced in response to the founder's wife's shareholding reduction through bulk transactions. The sale of shares accounts for about 4.65% of the company's issued shares. It is solely due to SP NP's own capital requirements and financial arrangements. It is a personal matter at the shareholder level and has nothing to do with the Group's business, operations, financial situation and development prospects.