China's Manufacturing Surveys Highlight Ongoing Weakness, Hong Kong Attracts Three Successful IPOs

Li Chen
30 Sep, 2025
Hong Kong

China's stock market indexes edged higher ahead of the start of the weeklong Golden Week holidays.

The Hang Seng index increased 0.2%, and the CSI 300 index edged up 0.5% after the official survey of manufacturing activities painted a gloomy picture. 

The manufacturing purchasing managers' activities index was 49.8 in September, the National Bureau of Statistics reported Tuesday. 

The persistent domestic demand weakness and export headwinds played key roles in contracting activities for the sixth consecutive month. 

The nonmanufacturing activity index, which includes construction and services, dropped to 50 in September from 50.3 in August, data from the statistics bureau showed. 

However, a private survey released Tuesday by S&P Global showed a slight increase in manufacturing activities in September. 

The RatingDog China General Manufacturing PMI increased to 51.2 from 50.5 in August.

The private survey has a larger percentage of smaller and private companies, including businesses focused on export activities. 

 

China Indexes and Stocks 

The Hang Seng index increased 0.2% to 26,668.70, and the CSI 300 index advanced 0.5% to 4,642.62. 

Techtronic Industries rose 1.4% to HK $99.85, Alibaba Group Holding increased 2.2% to HK $177.30, and Tencent Holdings edged up 0.2% to HK $661.50. 

Semiconductor makers advanced after local reports suggested Huawei Technologies plans to double AI chip production in the near future. 

SMIC rose 3% to HK$78.80, and SenseTime Group advanced 4% to HK$2.84. 

Three mainland Chinese companies listed their stocks on the Hong Kong Stock Exchange. 

Zijin Gold, the spinoff of Zijin Mining, soared 55% to HK$117, and the company priced its stock at HK$71.59 per share.

The company sold 349 million shares and raised HK$24.98 billion through the listing of its stock on the Hong Kong Stock Exchange. 

The mining company plans to use about 33% of its offering to complete its acquisition of the Raygorodok Gold Mine in Kazakhstan. 

About 90% of the offering was placed with international investors. 

Singapore's GIC, the U.S.-based BlackRock, and the UK's Schroders attracted investments to the company's public offering. 

Shenzhen Hipine Precision Technology soared more than 180% to HK$102.30 after the company listed its shares on the Hong Kong Stock Exchange. 

The watch designer and manufacturer priced and sold 10.6 million shares at a price of HK$29.60 per share.

Pateo Connect Technology soared on the first day of trading on the Hong Kong Stock Exchange. 

Pateo traded at HK$144.0, and the company sold 10.44 million shares at a price of HK$10.23 per share.