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HK Stocks Retreat; CATL Slumps 5%; Optical Communication Sector Rallies
Hong Kong stocks retreated today, dragged down by weakness in technology shares. US President Donald Trump announced an extension of the ceasefire agreement between the United Stat...
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HK Stocks Retreat; CATL Slumps 5%; Optical Communication Sector Rallies
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Hong Kong stocks retreated today, dragged down by weakness in technology shares. US President Donald Trump announced an extension of the ceasefire agreement between the United States and Iran, citing severe divisions within the Tehran government and the need to prolong the truce. Peace talks between the US and Iran remain deadlocked, with Iranian officials refusing to attend. The DJIA and Nasdaq both fell 0.6% overnight. As of writing, the US 2-year Treasury yield dropped to 3.773%, while the US 10-year Treasury yield fell to 4.288%. The US Dollar Index declined to 98.31. DJIA futures last rose 191 points or 0.4%, and Nasdaq futures gained 160 points or 0.6%. The Shanghai Composite Index closed up 21 points or 0.52% at 4,106, while the Shenzhen Component Index rose 1.3% to 15,177. The ChiNext Index climbed 1.7% to a new high since December 2015. Total turnover on the Shanghai and Shenzhen markets amounted to RMB2.56 trillion.

The HSI opened 183 points lower and extended losses, once falling 414 points to an intraday trough of 26,073. It closed at 26,163, down 324 points or 1.2%. The HSCEI closed at 8,801, down 141 points or 1.6%. The HSTECH closed at 4,963, down 97 points or 1.9%. Total market turnover for the day was HKD228.303 billion. Northbound trading turnover totaled HKD98.976 billion, while southbound funds recorded a net inflow of RMB4.89 billion today (previous trading day net inflow: RMB3.738 billion).

Shenghong Technology H shares (02476.HK)  0.000 (0.000%)   , a mainland AI PCB leader listed yesterday, closed at HKD336.8, up 6.9%, with full-day turnover of HKD3.38 billion.

Tech Stocks Weaken; CATL Drops 5%

Technology stocks came under pressure. Netease (09999.HK)  0.000 (0.000%)    Short selling $71.03M; Ratio 8.859%   fell 2.9%. Alibaba (09988.HK)  0.000 (0.000%)    Short selling $1.28B; Ratio 13.964%   declined 3.5% to HKD131.5. TENCENT (00700.HK)  0.000 (0.000%)    Short selling $1.12B; Ratio 9.546%   dropped 2.9%, KUAISHOU (01024.HK)  0.000 (0.000%)    Short selling $551.60M; Ratio 32.234%   slid 2.2%, and MEITUAN (03690.HK)  0.000 (0.000%)    Short selling $928.06M; Ratio 35.364%   lost 2.5%. JD.com (09618.HK)  0.000 (0.000%)    Short selling $105.16M; Ratio 11.040%   and Baidu (09888.HK)  0.000 (0.000%)    Short selling $130.64M; Ratio 16.938%   fell 2.3% and 2.8%, respectively, while Bilibili (09626.HK)  0.000 (0.000%)    Short selling $270.43M; Ratio 22.834%   tumbled 5.8%. Paradiigm Intelligent (06682.HK)  0.000 (0.000%)    Short selling $153.97M; Ratio 20.399%   raised over HKD1.5 billion through a share placement at a 12% discount, with its shares plunging 13.6% for the day.

CATL (03750.HK)  0.000 (0.000%)    Short selling $613.09M; Ratio 6.430%   reportedly saw a stake reduction by Sinopec (Hong Kong), with its shares closing at HKD699, down 5%, on turnover of HKD9.534 billion, making it the worst-performing blue chip. JPM noted in a report that CATL showcased upgraded performance of its passenger vehicle battery portfolio at its Super Tech Day. CATLs third-generation Shenxing superfast-charging battery surpassed BYD (01211.HK)  0.000 (0.000%)    Short selling $684.55M; Ratio 38.079%   s second-generation Blade battery launched in March this year in terms of ultra-fast charging capability. The broker believes the event strengthened confidence in CATLs technology leadership and maintained it as the top pick in Chinas battery sector.

1,200 Stocks Decline; Yangtze Optical Fibre Rebounds

Market breadth weakened. The ratio of advancers to decliners on the Main Board was 19 to 31 (previous day: 27 to 22), with 1,293 stocks falling (3.2%). Among HSI constituents, 20 stocks rose while 70 declined, with an advancer-to-decliner ratio of 22 to 78 (previous day: 65 to 33). Short selling amounted to HKD36.905 billion, accounting for 19.14% of turnover in eligible securities totaling HKD192.824 billion.

The optical communication sector rallied. Yangtze Optical Fibre and Cable (06869.HK)  0.000 (0.000%)    Short selling $317.80M; Ratio 4.767%   surged 17.2% to HKD247.2, with turnover of HKD6.667 billion. Cambridge Technology (06166.HK)  0.000 (0.000%)   soared 21% to HKD152.2, with turnover of HKD3.058 billion. ZTE (00763.HK)  0.000 (0.000%)    Short selling $57.07M; Ratio 5.800%   gained 6.5%. PC and server maker Lenovo Group (00992.HK)  0.000 (0.000%)    Short selling $541.83M; Ratio 28.448%   rose 5.7%, the best-performing blue chip.

Shanxi Securities stated in a report that overseas media recently reported accelerating demand for optical components from US hyperscale data center customers at Lumentum (LITE.US)      , with orders filled through 2028. Capacity at Zhongji Innolights (300308.SZ)  +21.760 (+2.516%)   INP wafer fab remains tight and is fully utilized to meet surging customer demand. The broker believes that as markets gradually become desensitized to Middle East volatility, optical communication stands out as one of the most certain beneficiaries of the current AI investment boom and could deliver significant outperformance versus the broader market. (wl/u)
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-22 16:25.) (A Shares quote is delayed for at least 15 mins.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)



This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.

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