The Hong Kong stock market managed to maintain its green zone at the close of trading on Thursday (30/7/2026), despite experiencing sharp fluctuations throughout the day. The Hang Seng Index (HSI) closed slightly up 0.20 percent at 25,858.88 after briefly slipping into the red zone in the afternoon session before eventually bouncing back.
Today's index movement opened at 25,875.83 and touched a low of 25,657.33. However, towards the market close, buying action surged, pushing the index to its daily high of 25,971.63 before finally consolidating.
The main driver of the index's late-session rebound came from a revived local initial public offering (IPO) market. The successful IPO of optical network technology giant Zhongji Innolight, which raised up to 53 billion Hong Kong dollars in fresh funds, is strong evidence of investor interest in artificial intelligence (AI) infrastructure providers in the China region.
Nevertheless, the Hang Seng's gains were capped by profit-taking in the technology sector due to global market concerns over the valuation of AI-based issuers. Additionally, weakness in banking and traditional financial sector stocks put further pressure on the main index throughout the trading session.
On the external side, market players tended to remain defensive following the US central bank's (The Fed) decision to maintain benchmark interest rates. This wait-and-see stance triggered capital rotation into safe-haven assets in Asia, which was exacerbated by rising geopolitical tensions in the Middle East that briefly pushed world oil prices past $90 per barrel.
