Hong Kong stocks fell after a weak open; the HSI was down 1.00% at midday and
the Hang Seng Tech index was down 0.76%. NEV names were active—BYD (01211.HK)
+2%. Copper miners outperformed: Wanguo Gold (03939.HK) +4%, Minmetals Resources
(01208.HK) +2%. Building materials/cement led on the upside—Huaxin Building
Materials (06655.HK) +10%. Agriculture and pork plays strengthened—Dekang Agro
(02419.HK) +7%. Ports & transport, coal, optical communications, Chinese
brokerages, solar PV and telecom equipment sectors were firmer. PCB names
corrected—Dazhu CNC (03200.HK) -6%, Kingboard Laminates (01888.HK) -4%. Mainland
property shares continued to decline—Yuexiu Property (00123.HK) -7%. Tech, OLED,
biotech, commercial space and AI application concepts were among the laggards.
Company movers: Zhipu (02513.HK) rose >2% after earnings-related volatility;
Xiyin-W (00625.HK) slipped ~4% on its first trading day.