Zhi Tong Cai Jing·2025-08-28 08:53Market Overview - The Hong Kong stock market indices have declined for three consecutive days, with the Hang Seng Index falling 0.81% to close at 24,998.82 points, and a total trading volume of 391.49 billion HKD [1] - Southbound capital recorded a net outflow exceeding 20 billion HKD [1] - Analysts from Guotai Junan Securities suggest that the anticipated interest rate cut in September may lead to a convergence of A-H market performance, with corporate earnings becoming a key driver of market differences [1] Blue Chip Performance - Semiconductor company SMIC (00981) reached a historical high, closing up 10.76% at 62.3 HKD, contributing 42.83 points to the Hang Seng Index [2] - Other notable blue chips include Trip.com Group (09961) up 7.71%, CNOOC (00883) up 4.08%, while Alibaba (09988) and Li Auto (02015) saw declines of 4.69% and 3.56% respectively [2] Sector Performance - Major technology stocks mostly declined, with Alibaba down 4.69% and Tencent down 0.83% [3] - The semiconductor sector showed strength, with SMIC up 10.76%, Huahong Semiconductor (01347) up 8.44%, and Shanghai Fudan (01385) up 8.25% [3] - The domestic chip supply is expected to increase as the market shifts towards local suppliers, with predictions indicating a rise in domestic chip usage in AI server markets [3][4] Earnings Reports - Bio-pharmaceutical company BGI (06955) reported a significant drop of 13.99% in stock price post-earnings, despite a revenue increase of 8.4% to 393 million HKD [5] - Television Broadcasts (00511) saw a revenue decline of 1% and a net loss of 108 million HKD, although this was an improvement from the previous year [5] - The overall earnings outlook for the Hang Seng Index has been downgraded, with a consensus predicting a negative growth of -1.4% for 2025 [6] Notable Stock Movements - Jiaxin International Resources (03858) surged 177.84% on its debut, closing at 30.34 HKD [6] - Horizon Robotics (09660) rose 14.74% after reporting a 67.6% increase in revenue to 1.567 billion HKD [7] - Trip.com Group (09961) reported a 16.22% increase in net revenue, reaching 14.843 billion RMB, with significant growth in international bookings [8] - China Pacific Insurance (01339) saw a 5.82% increase, reporting a 10.87% rise in total revenue to 324.122 billion RMB [9] - XPeng Motors (09868) experienced a decline of 8.22% despite launching its new P7 model, which received over 10,000 pre-orders shortly after its release [10]