HK Close | HSI, HSTECH Fall over 1%; Multispectral AI Company HQVT Rockets 220%; KNOWLEDGE ATLAS Soars 26%; Tencent, Alibaba Drop over 1%

I. Market Overview

The Hong Kong market finished lower on Jun 18 as risk appetite weakened through the session. The Hang Seng Index (HSI) closed at 23,924.81, down 1.59%, pressured by weakness in heavyweight financials and property developers. The Hang Seng China Enterprises Index (HSCEI) settled at 7,976.04, losing 2.06%, while the Hang Seng Composite Index (HSCCI) declined 3.89% to 4,009.59. Tech counters were comparatively resilient but still negative: the Hang Seng Tech Index (HSTECH) slipped 1.39% to 4,604.35.

Market activity remained brisk, with total turnover reaching HK $358.71 billion. News flow during the day highlighted broad-based selling in insurers, developers and large internet names, even as select artificial-intelligence (AI) chipmakers and memory-related products recorded strong gains. Headlines also noted afternoon pressure that deepened losses across the main benchmarks.

The China-based multispectral artificial intelligence technology company HQVT rocketd 220% in grey market.

II. Sector Performance

Large-cap Tech Stocks

Tech majors delivered mixed results: TENCENT -1.17% to HK $440.20, ALIBABA -1.87% to HK $104.90, and MEITUAN -3.49% to HK $71.80 weighed, while chip-focused names such as HUA HONG GRACE +5.59% to HK $168.10 and NIO +3.08% to HK $40.82 bucked the downward trend.

Top Performing Sectors

• Commercial Printing +6.61%

• Advertising +5.23%

• Life Sciences Tools & Services +3.69%

Bottom Performing Sectors

• Security & Alarm Services -38.20%

• Diversified Chemicals -15.09%

• Passenger Ground Transportation -10.95%

III. Top 10 Gainers in Hong Kong Market Today

Filter: Market cap>HKD10B

IV. Top 10 Losers in Hong Kong Market Today

Filter: Market cap>HKD10B

V. Closing Summary

1. Hong Kong equities finished lower on Jun 18, with the HSI down 1.59%, the HSCEI off 2.06% and the HSTECH slipping 1.39%. High intraday volatility saw losses deepen in the afternoon, echoing media reports that insurers and mainland developers led declines. Market turnover remained solid at HK $358.71 billion, indicating active but cautious trading.

2. Within large-cap technology, performance diverged. While Internet leaders such as Tencent, Alibaba, Meituan and Xiaomi all closed lower, chip-oriented counters stood out: Hua Hong Grace gained 5.59%; NIO rose 3.08%; and SMIC edged up 0.99%. News reports highlighted a strong rally in semiconductor names, with ILUVATAR COREX surging over 16% intraday and SMIC advancing nearly 4% amid sector enthusiasm.

3. The day’s most eye-catching movers belonged to the AI and memory-chip complex. Knowledge Atlas soared 26.14% after unveiling its GLM-5.2 model, while leveraged products tied to SK Hynix hit record highs, mirroring overseas strength in memory stocks. Copper producer Jiangxi Copper gained over 9%, supported by sector tailwinds. On the downside, building-materials suppliers CNBM -9.08% and HX Building Materials -8.06% slumped as construction-related industries lagged.

4. Sector data underscored the day’s defensive tilt: Commercial Printing, Advertising and Life Sciences Tools & Services led gains, whereas deep losses hit Security & Alarm Services, Diversified Chemicals and Passenger Ground Transportation. No major IPOs debuted, but ongoing chatter about new e-commerce and AI initiatives—such as QuantGroup’s ICP-driven platform plan—kept interest alive in select small-mid caps.

Sources: Public market data, summarized media reports

Disclaimer: This content is for reference only and does not constitute investment advice.