Hong Kong Markets Surge as Tech and Property Stocks Dominate Headlines

HK:3115.HK:Hang Seng Index
The Hang Seng Index jumped 308 points, or 1.2%, closing at 26,246 by midday. The Hang Seng Tech Index added 104 points, or 1.8%, while the Hang Seng China Enterprises Index climbed 112 points, or 1.2%.

HK:3690.HK:Meituan
Meituan rose 3.3% to HK$102.9, contributing to the midday rally.

HK:9988.HK:Alibaba Group
Alibaba gained 2.1% to HK$144.9, hitting a new high, while separately its Amap unit announced a RMB1 billion “support plan for popular stores” and launched a “street food ranking.”

HK:0700.HK:Tencent
Tencent rose 1.8% to HK$638 and also revealed that it has open-sourced its new HunYuan Image 2.1 model.

HK:0388.HK:HKEX
Hong Kong Exchanges and Clearing climbed 1.9% to HK$447, joining the list of heavyweights pushing the market higher.

HK:0288.HK:WH Group
WH Group surged to fresh highs, continuing its momentum among consumer sector leaders.

HK:0238.HK:BOC Hong Kong
Bank of China Hong Kong hit a new peak amid optimism in financials.

HK:9633.HK:Nongfu Spring
Nongfu Spring also marked a record high, underscoring strong sentiment in consumer staples.

HK:9992.HK:Pop Mart
JPMorgan reported that Pop Mart’s “Labubu” search popularity has dipped to 60% of its July peak but is expected to rebound with new product launches and animation.

HK:0016.HK:SHK Properties / HK:0012.HK:Henderson Land / HK:0014.HK:Hysan Development / HK:1997.HK:Wharf REIC / HK:1972.HK:Swire Properties
HSBC Global Research reaffirmed Buy ratings on key developers, citing improving real estate fundamentals. Henderson Land and SHK Properties were highlighted as prime beneficiaries of recovery.

HK:9999.HK:NetEase
JPMorgan maintained a Neutral rating on NetEase, citing uncertainties in fundamentals over the next 6–12 months.

HK:1928.HK:Sands China
UBS reported Sands China retained the largest market share in August, gaining 150 basis points month-on-month.

HK:0175.HK:Geely Auto
Daiwa raised its target price for Geely Auto to HK$24.5, reiterating a Buy rating.

HK:09880.HK:UBTech Robotics
HSBC Research initiated coverage on UBTech Robotics with a Hold rating and HK$124 target, while CMSI recommended it alongside XPeng and Horizon Robotics as key players in robotics and smart driving.

US:AAPL:Apple
Citi said Apple’s iPhone 17 series sales are in line, while the new “iPhone Air” is expected to pave the way for a foldable launch in 2026.

HK:2020.HK:ANTA Sports / HK:9618.HK:JD.com
JD.com announced trade-in subsidies up to RMB2,100 for iPhone 17 purchases and separately signed a strategic deal with Jin Jiang Hotels.

HK:300750.SZ:CATL
Concerns mounted over CATL’s Jianxiawo lithium mine restart, pressuring lithium prices. CLSA noted the Yichun mine’s renewal application could also weigh on the sector.

HK:1772.HK:Ganfeng Lithium / HK:09696.HK:Tianqi Lithium
Both Ganfeng Lithium and Tianqi Lithium plunged over 6% as news of CATL’s production resumption drove futures lower.

HK:0489.HK:GAC Group
HSBC Research raised its target price for GAC Group to HK$3.62, while maintaining a Hold rating.

HK:1919.HK:COSCO Shipping Holdings
Morgan Stanley cut its target price for COSCO Shipping Holdings to HK$9.5, assigning an Underweight rating.

HK:2166.HK:Laekna-B
Laekna-B plunged over 16% after placing shares at a 9.5% discount, raising HK$578 million.

HK:1787.HK:Chifeng Gold
Chifeng Gold said it will catch up on production in the second half of 2025 and noted that gold prices have yet to peak.

HK:1211.HK:BYD
BYD launched its new FangChengBao Titanium 7, priced from RMB179,800, bolstering its electric vehicle push.

HK:3380.HK:Logan Group
Logan Group amended its creditor support agreement as part of its ongoing restructuring efforts.

HK:0005.HK:HSBC Holdings
HSBC repurchased more than 3.71 million shares valued at US$379 million.

US:BTC:Bitcoin
Broader macro news saw Fitch lift global GDP growth forecasts, projecting two U.S. rate cuts this year and three more in 2026, supporting risk assets including Bitcoin.

Leadership Shifts, Stake Sales, and Expansion Moves Dominate Singapore Market Headlines

SGX:TQ5.SI:Frasers Property
Frasers Property announced that Lim Hua Tiong, CEO of emerging markets, Asia, will take on the additional role of CEO of Frasers Property (Thailand) from Oct 1, 2025. The move, aligned with the group’s “OneFrasers” strategy, is seen as strengthening leadership alignment. Shares ended Tuesday at S$1.04, down 2.8%.

SGX:S08.SI:Singapore Post
Alibaba Investment, a unit of US:BABA:Alibaba Group, sold 151.3 million Singapore Post shares for S$64.4 million, trimming its stake to 4.61% from 11.33%. The shares were sold at about S$0.426 each, below Tuesday’s closing price of S$0.45. Singapore Post stock slipped 1.1% to S$0.445.

SGX:CHZ.SI:HRnetGroup
HRnetGroup expanded into Vietnam by establishing a wholly owned subsidiary, AllwaysFirst, to focus on professional recruitment in fast-growing sectors such as IT and technology. Shares closed flat at S$0.71 on Tuesday, before the announcement.

SGX:41O.SI:LHN
LHN highlighted its space optimisation business as a major revenue driver, with more than 330,000 sq ft of commercial and 1.8 million sq ft of industrial properties under management as of June 30, 2025. Separately, its subsidiary Coliwoo was declared conditionally eligible for a mainboard listing by the Singapore Exchange. LHN’s stock rose 3% to S$0.86.

SGX:URR.SI:Sim Leisure
Theme park operator Sim Leisure reached a final settlement with Bandar Malaysia over a terminated theme park deal. The group will receive a compensation sum, payable by Oct 30, which is expected to materially boost 2025 earnings. Shares closed flat at S$0.635 on Tuesday.

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