Hong Kong stocks closed (12.22) | Hang Seng Index closed up 0.43%, optical communications and semiconductor stocks performed well, and non-ferrous metals were strong throughout the day

The Zhitong Finance App learned that Hong Kong stocks surged higher and fell this morning. The Hang Seng Index and China Index turned green for a while in the afternoon, while the Hengke Index performed the best, with an intraday high of more than 1%. At the close, the Hang Seng Index rose 0.43% or 111.24 points to 25801.77 points, with a full-day turnover of HK$169.777 billion; the Hang Seng State-owned Enterprises Index rose 0.43% to 8939.68 points; and the Hang Seng Technology Index rose 0.87% to 5526.83 points.

Huatai Securities pointed out that currently the market is still in the left-hand layout range, and the inflection point on the right side is not clear. The market's unanimous expectations for spring unrest ahead of time are strong, but Hong Kong stocks are still under pressure on supply and demand at the end of the year. “Santa Rally” is uncertain. The first quarter may be at a stage where the win rate is higher. In the industry, profit expectations for lithium mines, copper, aviation and hotels have been revised, or have entered the allocation window; leading AI in technology, leading local lifestyle leaders in reversal of difficulties, and new product developments after L3 launch provide opportunities for left-hand layout.

Blue-chip stock performance

SMIC (00981) led the blue chip increase. At the close, it rose 5.92% to HK$68.9, with a turnover of HK$6.276 billion, contributing 27.67 points to the Hang Seng Index. A recent research report by China Post Securities indicates that since this year, excluding artificial intelligence, other mainstream application markets have grown moderately or stabilized. In the process of switching and iterating the domestic industrial chain, the company seizes opportunities and becomes a stable supplier for customers, so that the company can obtain a sustainable guarantee for current and predictable future orders.

In terms of other blue-chip stocks, Zijin Mining (02899) rose 5.3% to HK$35.38, contributing 17.01 points to the Hang Seng Index; Bubble Mart (09992) rose 4.61% to HK$201.8, contributing 10.55 points to the Hang Seng Index; Yao Ming Kangde (02359) fell 2.6% to HK$101.1, dragging down the Hang Seng Index by 2 points; Hang Lung Properties (00101) fell 2.23% to HK$8.78, dragging down the Hang Seng Index by 0.57 points.

Popular sector aspects

On the market, large technology stocks generally rose, with Alibaba up 0.76% and Tencent up 0.08%. Metals such as gold, silver, and copper have collectively surged, and non-ferrous stocks have performed brilliantly today; optical communications and semiconductor stocks have surged more than 13%; SMIC and Huahong have both surged more than 5%; intensive policies have boosted consumption, and new consumer concept stocks are active; Yushu Robotics was praised by Musk, and the robot concept is heating up; and the concepts of dairy products, smart driving, and stablecoins are improving. On the other side, biomedical stocks were adjusted, and CRO had the highest decline; paper stocks, aviation stocks, etc. weakened.

1. Non-ferrous metals are strong throughout the day. At the close, Jiaxin International Resources (03858) rose 12.75% to HK$48.64; China Alcoa International (02068) rose 8.86% to HK$2.58; Lingbao Gold (03330) rose 6.6% to HK$18.9; Zijin Mining (02899) rose 5.3% to HK$35.38; and China Baiyin Group (00815) rose 5.8% to HK$0.73.

On December 22, metal varieties such as gold, silver, and copper rose intensively. In terms of precious metals, spot gold reached a new high of 4,400 US dollars/ounce; spot silver rose above the 68 US dollars/ounce mark, setting a new record high; in terms of industrial metals, the price of LME copper soared to a record high, approaching 12,000 US dollars per ton. In addition, domestic prices of rare metals such as tungsten increased significantly. According to Chinatungsten Online, the crazy tungsten market continued on Monday. Among them, the price of 65% black tungsten concentrate was reported at 454,000 yuan/standard ton, up 217.5% from the beginning of the year. Orient Securities said that as commodity prices continue to reach new highs in the future, the market's expectations for the rise in gold, copper, aluminum, and iron prices in the medium term are expected to continue to strengthen, and it is recommended to actively pay attention to investment opportunities in related sectors.

2. The performance of optical communication and semiconductors is outstanding. At the close, Huiju Technology (01729) rose 13.19% to HK$18.45; Changfei Optical Fiber Cable (06869) rose 11.21% to HK$57.55; Cambridge Technology (06166) rose 6.35% to HK$86.3; and SMIC (00981) rose 5.92% to HK$68.9.

According to the China Merchants Securities Research Report, looking ahead to 26-27, the expansion of domestic storage and advanced manufacturing processes is expected to accelerate; orders from domestic equipment manufacturers will continue to improve, and storage equipment companies with good card slots and high shares are expected to benefit; the domestic computing power demand outlook is positive, and Moore and Mu Xi's revenue will achieve a high growth rate in 25 years; prices in the storage sector continue to rise, and large manufacturers expect the Q4 performance trend to improve. Considering the limited output of new products next year, there are still structural opportunities; the pace of iteration and mass production of new products from AI side chip manufacturers is still ongoing. Advance. It is recommended to focus on equipment that benefits from the storage expansion cycle, computing power and contract manufacturing, etc. where demand continues to improve.

3. Most of the new consumer concept stocks rose. At the close, Michelle Group (02097) rose 10.13% to HK$435; Laoshuang Gold (06181) rose 6.46% to HK$700.5; Cook Circle (02517) rose 5.09% to HK$3.51; and Bubble Mart (09992) rose 3.61% to HK$201.8.

On December 20, Beijing time, the Michelle Ice City Los Angeles Hollywood store officially opened. According to reports, the store is located across from the “China Theatre” on Avenue of Stars, attracting local consumers to check in with affordable products such as $1.19 ice cream and a localized menu. Up to now, the overseas layout of Michelle Ice City has been expanded to 13 countries. It is worth noting that recently there have been frequent consumption-related policies. On December 20, the Ministry of Commerce Party Group Expanded Meeting was held in Beijing. The conference emphasized vigorously boosting consumption, expanding the supply of high-quality goods and services, and unleashing the potential for service consumption. According to Dongxing Securities, the continued increase in policy in 2026 is expected to boost consumer confidence, and investment in new consumer sectors will return from pure short-term narratives to business models and profit barriers.

4. Robotics concept stocks are active. At the close, Shoucheng Holdings (00697) rose 7.43% to HK$2.17; JiZhijia-W (02590) rose 4.47% to HK$23.36; Johnson Electric Holdings (00179) rose 4.34% to HK$30.32; and Premium Choice (09880) rose 1.97% to HK$114.

On December 18, six Yushu Technology humanoid robots performed to accompany Wang Lihong at the Chengdu concert and completed the difficult “Webster” empty video, which attracted attention. Tesla CEO Elon Musk retweeted related videos on social platforms and was impressed by the comments with captions. According to another report, Preferred Choice recently won the bid for the Greater Bay Area Data Collection Center project for humanoid robots in Huiyang District of Huizhou City, amounting to 596.2015 million yuan. In 2025, the total order amount for Preferred Humanoid Robots was close to 1.4 billion yuan. Huaxin Securities believes that the humanoid robot industry is speeding up progress from technology research and development to large-scale commercial implementation. It suggests a potential inflection point for orders from leading machine companies; at the same time, it is focusing on companies with the ability to manufacture core components.

5. Some smart driving concepts continue to rise. At the close, My Little Pony Zhixing-W (02026) rose 10.68% to HK$127.5; Wenyuan Zhixing-W (00800) rose 5.73% to HK$24; and Hesai-W (02525) rose 2.34% to HK$179.2.

Recently, the field of intelligent driving at home and abroad has ushered in major breakthroughs. On December 15, the Ministry of Industry and Information Technology officially announced entry permits for the first batch of L3 class conditional autonomous driving models. The first batch of approved models were Changan Deep Blue SL03 and BAIC Jihu Alpha S6. Subsequently, many brands such as BYD and Hongmeng Zhixing also announced that they had obtained L3 autonomous driving road test licenses and started internal testing. It is worth noting that on December 20, the first official license plate “Chongqing AD0001Z” dedicated to L3 autonomous driving was born in Chongqing, marking the beginning of the L3 autonomous driving era for Changan Automobile. Overseas, Musk said earlier that Tesla has officially launched a fully driverless Robotaxi test in Austin, and there are no safety supervisors or passengers in the car.

Popular exotic stocks

1. On the first day of the IPO, BenQ Hospital (02581) fell 49.46% to HK$4.72; Impression Dahongpao (02695) fell 35.28% to HK$2.33; and Huayi Biotech (02396) fell 29.32% to HK$27.

On December 22, Hong Kong stocks welcomed the listing of four IPOs on the same day, including BenQ Hospitals and Huayi Biotech. It is worth noting that these four IPOs all experienced a decline on the first day of listing and went bankrupt directly. Among them, BenQ Hospitals saw the biggest decline, and its stock price almost fell to a standstill. According to reports, BenQ Hospital is a private for-profit general hospital group in mainland China. Currently, it owns and operates two private for-profit general hospitals, Nanjing BenQ Hospital and Suzhou BenQ Hospital.

2. China's free trial (01880) was strong throughout the day and closed up 15.77% to HK$81.85.

Haikou Customs released statistics on December 19. On December 18, when the Hainan Free Trade Port officially launched customs closure of the entire island, the amount of duty-free shopping on the outlying islands of Hainan was 161 million yuan, the number of shoppers was 24,800, and 118,000 items were purchased, up 61%, 53.1%, and 25.5%, respectively. Furthermore, since the start of the customs clearance operation of the entire island of the Hainan Free Trade Port, sales have surpassed the 100 million yuan mark in a single day for three consecutive days, with cumulative sales reaching 331 million yuan.

3. Yuejiang (02432) fell under pressure and closed, down 4.84% to HK$31.44.

The ban will soon be lifted across the border. According to an announcement previously issued by the company, the last day for its major shareholders, pre-IPO investors, and independent investors to abide by the sales ban is December 22, 2025. Furthermore, on November 6, Yuejiang announced plans to place 16.66 million new H shares at a placement price of HK$46.80 per share, a 10.3% discount from the closing price of HK$52.2 on November 5. The net proceeds from this placement were approximately HK$771 million. This is the second time this year that Vietnam has raised capital through large-scale placement.