Hong Kong stocks surged across the board! Semiconductor and lithium battery stocks soared in the afternoon!

On February 23, Hong Kong stocks regained momentum, with the Hang Seng Index closing up 2.53% and the Hang Seng Tech Index rising 3.34%. The market structure showed clear differentiation, with gold stocks leading gains, and semiconductor concepts and internet technology stocks also climbing.

Huatai Securities research report states that during the Spring Festival period, there was increased differentiation within the Hong Kong stock market, with AI new forces diverging from internet giants. Gains remained concentrated in technology and cyclical industries. Looking ahead, in the short term, investors should be cautious of volatility risks associated with index and Hong Kong Stock Connect adjustments and the corresponding rush into certain stocks before and after these events. For medium-term allocation, technology and cyclical consumables remain the clear main themes.

Semiconductor Stocks Continue to Rise

The AI boom has driven demand for chips. On the afternoon of February 23, the Hong Kong integrated circuit index surged over 5.6%, with InnoScience rising over 10%, and stocks like Semiconductor Manufacturing International Corporation (SMIC), Huahong Semiconductor, Naxin Micro, and Tiannanshi Intelligent Chips also gaining.

Additionally, the Bank of Korea stated that supported by the prosperity of the chip industry and a stronger-than-expected global economic environment, South Korea’s export-oriented economy is expected to achieve “significantly higher” growth this year compared to last. The Bank of Korea told the National Assembly that the semiconductor market is experiencing a cycle stronger than any previous upturn, and at least for this year, it may maintain a momentum stronger than usual.

Public information shows that during a virtual investor conference held on February 20, SK Hynix sent a strong signal at a Goldman Sachs call: the storage industry has fully entered a seller’s market. Driven by real AI demand, storage prices are expected to continue rising this year. Amid the resonance of AI demand explosion and supply bottlenecks, storage chips are entering a full-fledged “seller’s market,” with SK Hynix clearly stating that demand from all customers this year cannot be fully met, and price increases are inevitable.

Lithium Battery Stocks Continue to Surge

On the afternoon of February 23, Hong Kong lithium battery stocks continued to rise, with RuiPu LanJun up over 15%, Ganfeng Lithium up over 8%, and Contemporary Amperex Technology (CATL) up over 7%, among others.

In terms of news, at the beginning of February and during the Spring Festival holiday, top global investment research firm UBS released reports expressing strong optimism about “Chinese lithium,” significantly raising price forecasts for spodumene and lithium carbonate, and explicitly stating that the market has entered the third supercycle of lithium prices. The reports pointed out that the gradual implementation of the “threefold balance” in electric vehicles and the global explosion in energy storage demand will drive continuous growth in lithium demand.

CITIC Securities research report states that by January 2026, the lithium battery sector will outperform the CSI 300 index, mainly due to prior sector corrections and overall rising prices along the industry chain. Combining domestic and international industry dynamics, price trends in subdivided fields, monthly sales, and industry development trends, the sector’s prosperity remains generally upward. In the short term, focus should be on upstream raw material prices, monthly sales, relevant domestic and foreign policies, and progress in solid-state batteries. In the medium to long term, the outlook for the development of domestic and international new energy vehicle industries is positive, and the sector warrants close attention. It is also expected that individual stock performance and trends will diverge, so continuous focus on leading companies in niche fields is recommended.

Additionally, Hong Kong new energy vehicle stocks strengthened, with Seres briefly rising over 5%, and Leapmotor, Li Auto, NIO, and Xpeng all gaining over 4% intraday.

Following last year’s debut of Yushu Technology’s robot performance, several other robotics companies have appeared on CCTV stages this year, once again boosting the popularity of humanoid robots. By early 2026, mainstream automakers like Tesla, Chery, Xpeng, and Seres are all entering the robotics track. Tesla has even halted production of several best-selling models to reconfigure its production lines into robot manufacturing lines, transforming the automotive production process. Market analysts point out that after the transition to new energy, automakers and related auto parts companies are seeking to redefine their value through the development of embodied intelligence businesses.

(Source: e Company)