Hong Kong stock market closed with mixed performance. The Hang Seng Index (HSI) fell by 0.16%, the Hang Seng China Enterprises Index (HSCEI) decreased by 0.12%, the Hang Seng Technology Index (HSTECH) edged up by 0.11%, and the Hang Seng Composite Consumer Index (HSCCI) dropped by 0.42%.

In terms of sector performance, the semiconductor sector led the gains, with SMIC surging 8.22% and HUA HONG SEMI rising 4.63%. The education sector also performed well, with EAST BUY jumping 15.54%. On the other hand, the blockchain sector saw significant declines, falling 4.23%, while coal stocks dropped 3.79%.

For individual stocks, TENCENT rose 2.70%, driven by a rally in Chinese tech stocks, which also boosted the Hang Seng Technology Index. Analysts attributed this to recent strategic moves by Chinese tech companies.

SMIC surged 8.22%, benefiting from a strong performance in the semiconductor sector. The latest TrendForce report showed a 9.1% quarter-on-quarter increase in global foundry revenue in Q3 2024, reaching $34.9 billion, a record high. Additionally, WSTS forecasts a 19% year-on-year growth in the global semiconductor market in 2024, with a market size of $627 billion.

XIAOMI-W gained 2.76% after its first SUV, the YU7, was unveiled in Beijing, with plans for official release in mid-2025.

WEIMOB INC soared 25.37% after launching the "Gift Giving" feature in its WeChat store, which was well-received by users.

EAST BUY jumped 15.54% as its WeChat store also introduced the "Gift Giving" feature, boosting market enthusiasm.

BABA-W fell 3.44%, despite the broader rally in Chinese tech stocks.

XIAOCAIYUAN surged 13.65% on its first trading day, with an IPO price of HK$8.5 per share and a 100% subscription rate for retail investors.

CONTEL skyrocketed 22.64%, leading the semiconductor sector gains.