The latest session of the snake on the Hong Kong markets: indices and tech stocks on the rise

Hong Kong stock markets closed higher on the last trading day of the Year of the Snake, with notable performances in the technology and semiconductor sectors. According to Jin10 data, this special session marked the symbolic end of a volatile and sector-optimistic trading period.

Performance of Technology and Semiconductor Stocks

The storage and non-ferrous metals sectors led the trading, highlighting industrial dynamics. Lam Research (06809.HK) surged by 14.05%, confirming investors’ appetite for high-tech equipment manufacturers. Gigadevice Semiconductor also benefited from this bullish momentum, rising by 9.78%, reflecting market confidence in the semiconductor sector.

Overall Indices and Inclusion in Benchmark Indices

The Hang Seng Index increased by 0.52%, while the Hang Seng Tech Index rose more modestly by 0.13%. These movements show some market restraint despite positive sector news. However, the announcement of CATL’s (03750.HK) inclusion in the Hang Seng Index supported its value, which closed up by 2.71%, highlighting the group’s importance in the regional stock ecosystem.

Other Stocks Rising at the End of the Snake

Several other stocks performed well during this final session of the Year of the Snake. Lao Feng Xiang (06181.HK), a renowned jewelry group, rose by 6.64%, while China Molybdenum (03993.HK) increased by 6.35%. These performances reflect diversified investor interest beyond just the technology stocks.

The Unique Closure of the Snake Year

Due to Lunar New Year holidays, Hong Kong’s stock market only operated for half a trading day before closing in the afternoon. This unique setup concentrated activity on the last day of the Snake, giving the closing a symbolic significance as it marked the transition to the new lunar year and the emergence of new economic challenges.