Hong Kong stocks close: Hang Seng Index surges over 2%, tech stocks lead the rebound, with Tencent soaring over 7%, showing an impressive performance

Gelonghui March 10 | Trump announces that the Iraq war is “basically over,” risk market sentiment improves, and tech stocks lead the rebound. The three major Hong Kong stock indices performed strongly throughout the day, with the Hang Seng Index rising 2.17% to approach the 26,000-point mark, and the China Enterprises Index and Hang Seng Tech Index up 1.5% and 2.4%, respectively.

Specifically, large-cap tech stocks, as market bellwethers, led the rally, especially Tencent, which surged over 7%, showing a remarkable performance. Alibaba, Baidu, JD.com, and Meituan, which had been declining, all rebounded. OpenClaw gained popularity, AI application concept stocks became active again, MINIMAX’s stock price soared over 22% to new highs, and Zhipu’s market value again exceeded 300 billion yuan during trading! Rumors of industry chain price increases continued, with semiconductor storage concept stocks collectively strengthening. Tianzhi Zhi Xin surged over 30%, with a market value exceeding 86 billion Hong Kong dollars, hitting a new high. Leading lithium battery manufacturer CATL rose over 9%, attracting attention. Heavy machinery stocks, Apple concept stocks, biopharmaceuticals, insurance, and gaming stocks also rose.

On the other hand, reports indicate that Trump is considering multiple plans to curb the sharp rise in oil prices, leading to a significant pullback in international oil prices. Oil stocks collectively retreated, with China National Petroleum Corporation falling 3.57%. Coal stocks, which had been rising, also pulled back, with China Coal Energy dropping over 3%. Aluminum, gas, and dairy stocks experienced some weakness. (Gelonghui)