Hong Kong Tech and Semiconductor Stocks Surge, JD and Alibaba Jump 4%, Pop Mart Plunges 22%

Deep News03-25 17:07

Hong Kong stocks advanced overall on March 25, with the Hang Seng Index closing up 1.09% and the Hang Seng Tech Index gaining nearly 2%.

Technology and internet stocks rebounded in the afternoon session after earlier declines. At the close, MEITUAN-W surged nearly 14%, while JD-SW, BABA-W, and LI AUTO-W each rose more than 4%. BYD Electronic increased over 3%, and Nio gained close to 2%.

The semiconductor sector saw broad-based gains, with Biren Technology climbing more than 5% and Montage Technology rising over 4%. SMIC and HUA HONG SEMI both advanced more than 2%, followed by increases in TianShu ZhiXin, GigaDevice, and Shanghai Fudan. AI application stocks also performed strongly, with Zhipu AI soaring over 16% and MINIMAX-W up more than 4%. Non-ferrous metals and steel sectors led the gains.

On the downside, new consumption concept stocks led the declines. POP MART plummeted more than 22% as sales of its non-Labubu IP products fell short of expectations. Mixue Group dropped over 5%.

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