Key takeaways at a glance (as of 4:00 p.m. HKT)
- Hang Seng Index (HSI):26,485.9, +2.12% (day’s range: 26,061.58–26,490.71). 1
- Hang Seng China Enterprises Index (HSCEI):9,355.97, +2.10%. 2
- Hang Seng Tech Index (HSTECH):5,944.22, +2.74%. 3
- Total market turnover: about HK$234.7 billion. 4
- Standout sectors: Semiconductors, metals & mining, and large-cap internet led gains; multiple new listings debuted—two high‑profile robotaxi names fell sharply. 4
Market snapshot
Hong Kong equities ended firmly higher on Thursday, November 6, 2025, breaking a two‑day slide as risk appetite returned across Asia. The HSI settled at 26,485.9 (+2.12%), with intraday highs brushing 26,490.71. Tech and China proxies outperformed, while breadth improved across most major industry groups. 1
China-related gauges also advanced: the HSCEI climbed 2.10% to 9,355.97, and the HSTECH index rose 2.74% to 5,944.22, underscoring renewed interest in platform and hardware names. 2
Turnover remained healthy at ~HK$234.7 billion, consistent with 4Q’s elevated activity backdrop on the Hong Kong exchange. 4
What moved the market
- Regional tailwind from mainland China: Sentiment brightened after Shanghai’s benchmark reclaimed the 4,000 mark, bolstering chip and AI supply‑chain shares that are central to Hong Kong’s tech complex. 5
- Tech & commodities leadership: Local semiconductor names and metals/mining rallied hard, helping lift the HSI through the session (details below). 4
- IPO‑heavy tape with mixed outcomes: Despite the headline index gains, today’s rush of listings produced sharp drops in two autonomous‑driving debuts (more under “IPO watch”). 6
Sector and stock highlights
Semiconductors & hardware
- SMIC (00981 HK)+7.3%; Hua Hong (01347 HK)+9.1%—chip names led as investors leaned into domestic tech self‑sufficiency themes. 4
Internet platforms
- Alibaba (09988 HK)+4.1%, Tencent (0700 HK)+2.4%, Meituan (3690 HK)+2.1% contributed sizable index points as HSTECH outperformed broader benchmarks. 4
Metals & mining / commodities
- CHALCO (2600 HK)+11.2%, China Hongqiao (1378 HK)+9.9%; CMOC (3993 HK)+5.9%; MMG (1208 HK)+3.7% rallied alongside firmer commodity sentiment. Gold miners also gained, led by Zijin Mining (2899 HK) +4.3%. 4
Exchange operator
- HKEX (0388 HK) finished higher (HK$432.80 vs HK$423.60 prior close), reflecting continued optimism after strong earnings commentary this week and a robust deal/trading pipeline. 7
IPO watch: robotaxi duo stumble; biotech dazzles
Hong Kong hosted a busy listing day. High‑profile autonomous‑driving firms Pony.ai and WeRidefell about 9%–10% from offer prices on debut, as investors digested a crowded calendar and recent U.S. share weakness in the same names’ offshore lines. Seres Group slipped, Joyson Electronic dropped, while Vigonvita Life Sciencessurged intraday (briefly up more than 190%). The jammed pipeline has nonetheless pushed Hong Kong to the top global venue for equity capital raising in 2025 on LSEG data. 6
Single‑stock story to watch: Cathay Pacific
After Wednesday night’s announcement that Cathay Pacific will buy back Qatar Airways’ entire 9.57% stake for ~HK$6.97 billion, Cathay shares rose about 4% in today’s trade, with investors viewing the move as EPS‑accretive and governance‑supportive pending approval. 8
Why the rally now?
- Macro pulse: Fresh data show China’s October services PMI moderated but remained in expansion, while equity traders focused more on policy support and sector‑specific tailwinds (chips/AI) than on short‑term softness. 9
- Momentum context: Even before today’s bounce, 2025 has been a comeback year for Hong Kong equities; the HSI is up roughly 29% year‑to‑date (as of this week), aided by higher turnover and a revived IPO pipeline. 10
Level check & trading stats
- HSI: 26,485.9 (+2.12%); day’s range: 26,061.58–26,490.71. 1
- HSCEI: 9,355.97 (+2.10%). 2
- HSTECH: 5,944.22 (+2.74%). 3
- Total market turnover:~HK$234.7B. 4
The bottom line
Hong Kong stocks closed higher on November 6, 2025, with leadership from chips, commodities, and platform tech, even as headline IPOs split between spectacular gains and steep stumbles. Today’s action reinforces a late‑year pattern: broadening participation, resilient liquidity, and a deal calendar that keeps Hong Kong at the center of global ECM in 2025. 6
This article is for information only and does not constitute investment advice. All figures are as of the Hong Kong close on Nov 6, 2025.
