At the midday break, Hong Kong's benchmark Hang Seng Index was up 273 points, or 1.19%, reaching 23,154 points.
The Hang Seng Tech Index also saw an increase of 0.62%. Trading volume for the morning session reached HK$213.4 billion.
Innovative Drug Sector Continues Its Ascent
Stocks in the innovative drug sector extended their gains as accelerated payment reforms are expected to usher in a sustained period of earnings growth for pharmaceutical companies.
Simcere Pharmaceutical Group Ltd (HKEX: 02096) shares surged 8.5%.
3SBio Inc (HKEX: 01530) advanced 8%.
Akeso Inc (HKEX: 09926) rose 7%.
Innovent Biologics, Inc. (HKEX: 01801) gained 7.47%.
Intelligent Driving Concept Stocks Rally
Shares related to intelligent driving saw broad strength, driven by the nation's move to strengthen product access management for intelligent connected vehicles, which is seen as an inflection point for the industry's institutionalized commercial deployment.
RoboSense Technology Co., Ltd (HKEX: 02498) jumped 8%.
Horizon Robotics-W (HKEX: 09660) climbed 5%.
Hesai Group (HKEX: 02525) increased 6%.
Black Sesame International Holding Limited (HKEX: 02533) was up 4%.
Notable Individual Stock Movements
BYD Company Limited (HKEX: 01211) shares soared over 8% after the company reported its overseas sales in June nearly doubled year-on-year, with full-year export performance potentially exceeding expectations.
Sanhua Intelligent Controls Co Ltd (HKEX: 02050) surged more than 7% as the approaching mass production of Tesla's Optimus robot is anticipated to become a key secondary growth driver for the company.
Zhida Technology Holdings Ltd (HKEX: 02650) skyrocketed over 16% following news that its subsidiary signed an agreement to establish operations in Zhangjiang and joined the Robot Valley Ecosystem Alliance.
Shanghai Henlius Biotech, Inc (HKEX: 02696) rose 5% after its drug, HANSIZHUANG®, received a recommendation from the UK's NICE for inclusion in the NHS reimbursement system.
Topsports International Holdings Ltd (HKEX: 06110) rebounded 7% after the company recently issued an urgent clarification refuting rumors that Nike had terminated its online authorization.
Xunlei Limited (HKEX: 03317) gained over 6% as its Annual Recurring Revenue for May surged 320% month-on-month, and the company recently entered into a framework agreement with the Beijing Data Exchange.
Zhaojin Mining Industry Company Limited (HKEX: 01818) advanced more than 7%. The less hawkish stance from Federal Reserve Chair Powell has eased monetary tightening expectations, with analysts suggesting gold may have already overpriced future rate hikes.
Dekon Agri & Food Group Limited (HKEX: 02419) surged over 11% as ongoing policy support to regulate hog production capacity is expected to help repair the industry's fundamentals and valuations.
Anker Innovations Technology Co., Ltd. (HKEX: 00668) made its debut on the exchange but ended the morning session down over 5%, despite being a global leader in the mobile charging product market.
AI Hardware Stocks Experience Broad Declines
Stocks in the AI hardware sector faced widespread selling pressure. This followed a sharp overnight decline of over 6% in the Philadelphia Semiconductor Index and concerns about potential oversupply triggered by reports that Meta Platforms might sell its computing power.
Yangtze Optical Fibre and Cable Joint Stock Limited Company (HKEX: 06869) plummeted 17.78%.
Kingboard Laminates Holdings Ltd (HKEX: 01888) fell 13%.
GigaDevice Semiconductor (Beijing) Inc (HKEX: 03986) dropped 14%.