Hong Kong’s three major equity indices rebounded with volatility on July 27, with the Hang Seng Index rising 0.98% to 25,207.18 points, the Hang Seng Tech Index gaining 1.57% to 4,702.05 points, and the Hang Seng China Enterprises Index advancing 1.14% to 8,365.38 points. Sector rotation drove gains in airline, PCB, and AI application stocks, while oil and memory chip stocks faced pressure. China Southern Airlines rose 6.85%, Air China gained 5.65%, and China Eastern Airlines climbed 5.54%, as easing geopolitical tensions—including a U.S. halt to airstrikes on Iran and Iran’s suspension of retaliatory actions—caused international oil prices to plunge over 6%, reducing fuel costs. Changjiang Securities noted the peak summer travel season is expected to support high flight volumes and load factors. In AI infrastructure, Xinji Microelectronics surged 19.33%, Sunway Technology rose 6.25%, and Guanghe Technology gained 4.15%, following a Goldman Sachs survey showing global tech giants are comprehensively advancing capacity expansion plans concentrated in AI servers, co-packaged optics switches, PCBs, optical engines, and edge AI devices.