On August 5, 2026, the Hong Kong stock market opened higher and rose strongly under the leadership of tech stocks and the automotive industry chain. By midday close, the Hang Seng Index reported 24230.45 points, up 1.35%, with half-day trading volume exceeding 80 billion Hong Kong dollars. The Hang Seng Tech Index rose even more sharply by 2.1%, re-standing above the 5600 point mark. Market risk preference significantly recovered, with long-side capital actively entering the market.
Semiconductor and New Energy Vehicles Double-line Leading Rise
On the disk, the semiconductor sector performed particularly prominently. Semiconductor Manufacturing International Corporation (00981) rose 4.8% in half day, Hong Kong Semiconductor Manufacturing Company Limited (01347) rose over 5%, with market rumors that the US may relax chip export controls to China, coupled with the acceleration of domestic substitution processes, capital continued to flow into the semiconductor industry chain. In addition, the new energy vehicle sector was also strong, BYD Company Limited (01211) rose 3.6%, XPeng Motors (09868) rose 4.2%, and Li Auto (02015) rose 3.9%. According to the latest data from the China Passenger Car Association, the retail penetration rate of new energy vehicles in July exceeded 55%, a historic high, with industry prosperity continuing to rise.
Tech Giants Received Capital追捧
Among large tech stocks, Tencent Holdings (00700) rose 2.2% in half day, Meituan (03690) rose 2.8%, and Alibaba (09988) rose 1.9%. On the news front, multiple departments jointly issued new regulations for the normalized supervision of the platform economy, which is conducive to the long-term standardized development of internet platforms. At the same time, AI computing demand continues to explode, related concept stocks such as SenseTime (00020) rose 6.5%, and Kingsoft Cloud (03896) rose 7.1%.
Southbound Capital Net Inflow Exceeded 5 Billion Hong Kong Dollars in Half Day
In terms of capital flows, today's southbound capital showed positive performance, with a net inflow of 5.26 billion Hong Kong dollars in half day, for the 8th consecutive day of net inflow. Among them, Hong Kong Connect (Shanghai) had a net inflow of 2.83 billion Hong Kong dollars, and Hong Kong Connect (Shenzhen) had a net inflow of 2.43 billion Hong Kong dollars. In terms of individual stocks, Tencent Holdings received a net purchase of 1.28 billion Hong Kong dollars, Semiconductor Manufacturing International Corporation received a net purchase of 640 million Hong Kong dollars, and BYD Company Limited received a net purchase of 510 million Hong Kong dollars. The continuous inflow of southbound capital reflects that mainland investors' demand for allocating to high-quality Hong Kong assets remains strong, especially tech and high-dividend sectors have become key focus areas for capital.
Mainland Property Stocks Fully Recovered
Notably, mainland property stocks also showed a clear rebound today. Longfor Group (00960) rose 5.2% in half day, China Resources Land (01109) rose 3.8%, and China Overseas Land & Investment (00688) rose 3.1%. Recently, housing departments in many places have introduced new policies to stabilize the real estate market, and at the same time, market rumors that the government plans to establish a real estate relief fund have further boosted investor confidence. The stabilization of the real estate chain also provided strong support to the broader market.
Multiple Positive Factors Resonate, Institutional Optimism Rises
In terms of the external environment, US July non-farm employment data was lower than expected, and market expectations for the Fed to start cutting rates in September have further strengthened. The US dollar index fell, and the RMB exchange rate stabilized, creating a friendly external environment for the Hong Kong stock market. In addition, US tech stocks rose strongly overnight, with the Nasdaq Index hitting a new high, providing external support for the Hong Kong tech sector. Morgan Stanley's latest report points out that the current P/E ratio of the Hang Seng Index is still below the historical median, combined with marginal improvement in mainland economic data, Hong Kong has high attraction for global capital. Goldman Sachs also stated that as the Fed rate cut cycle approaches, the liquidity environment of Hong Kong stocks will significantly improve, especially high-dividend and technology innovation sectors are expected to continue to benefit.
Afternoon Outlook and Trading Strategy
Technically, the Hang Seng Index has broken through the 24000-point integer level. If it can stand firm at 24200 points, it is expected to further test 24500 points in the short term. In the afternoon, investors need to pay attention to US futures performance and news changes, while also paying attention to individual stock earnings disclosure. Overall, the medium-term upward logic of Hong Kong stocks has not changed. It is recommended to focus on structural opportunities in technology, new energy, and consumption sectors. For short-term traders, you can pay attention to the low-entry opportunities for strong sectors such as semiconductors and automobiles after corrections; medium and long-term capital can continue to allocate to high-dividend state-owned enterprises and Hong Kong tech giants to grasp the dual benefits of valuation recovery and performance growth.
