Hang Seng Index closed higher, with a rebound in biopharmaceuticals and a decline in new energy vehicles, as Ideal Motors dropped more than 5%.

KUAISHOU-WR rose more than 3%, Weibo and GDS-SW rose over 2%, Alibaba and BILIBILI-W rose by about 1%; Longbridge Dolphin had the largest decline, HUA HONG SEMI fell more than 2%.

On August 9th, affected by the overnight decline in US stocks, the Hong Kong stock market opened under pressure, with the Hang Seng Index opening down 0.65%, the Hang Seng China Enterprises Index opening down 0.93%, and the Hang Seng Tech Index opening down 1.45%. After the opening, the three major indexes continued to fluctuate, and they rose towards the end of the day. The Hang Seng Index closed up 0.32%, the Hang Seng China Enterprises Index closed up 0.39%, and the Hang Seng Tech Index fell slightly by 0.01%.

During the day, the main board saw 740 stocks rise, 828 stocks remain unchanged, and 657 stocks decline. The net outflow of southbound funds was 6.881 billion Hong Kong dollars.

In terms of market performance, the biopharmaceutical and healthcare sectors led the gains throughout the day, while the film and television media sector rallied in the afternoon. Retail and oil sectors performed well. New energy vehicles, non-ferrous metals, power, wind and solar energy storage, and telecommunications were among the top decliners.

In the technology sector, Kuaishou rose more than 3%, Weibo and GDS-SW rose over 2%, and Alibaba and Bilibili rose by about 1%. However, Ideal Auto fell by more than 5.5%, with Xiaopeng and NIO leading the decline, and HUA HONG SEMI falling by more than 2%.

Biopharmaceutical Rebound

CanSino Biologics rose more than 15%, INNOVENT BIO rose 12.2%, and TIGERMED, PHARMARON, and WuXi AppTec were among the top gainers.

Third Day of Strength for Fossil Fuels

The "Big Three" oil companies rose by more than 1%, and China Shenhua and CHINA COAL saw slight gains.

Real Estate Stocks Rise

New World Properties rose 9%, CHINA JINMAO, GREENTOWN CHINA, and Jiayuan Properties rose by about 4%, while Country Garden fell by about 1.7%.

On the news front, it was learned from Economic Observer that a meeting convened by high-level officials from Beijing, Shanghai, Guangzhou, and Shenzhen will be held in August. The theme of the meeting is about how to adjust and optimize real estate-related policies.

New Energy Vehicles Lead the Decline

Weixiaoli is leading the decline, GAC Group fell by 1.5%, and Zeropark Motors, Geely Automobile, Dongfeng Group, and BYD fell by 0.23%.

Nonferrous Metals Decline

China Daye Nonferrous Metals fell nearly 4%, China Silver Group, Minmetals Resources, and others had the largest declines.

Semiconductor Stocks Lead the Decline

Hongli Semiconductor fell by over 6%, HUA HONG SEMI fell by over 2%, Shanghai Fudan, Jingmen Semiconductor, and Gao Wei Electronics fell by over 1%.