Current Situation of the Three Major Indices
Hang Seng Index (HSI): down 0.85%
Hang Seng China Enterprises Index (HSCEI): down 0.74%
Hang Seng Tech Index (HSTECH): down 1.28%
A total of 768 stocks rose, 1310 stocks fell, and 1039 stocks remained flat.
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<h3>Technology Sector</h3>
The technology sector faced pressure throughout the day, with net capital outflow from the industry and a decline in investor risk appetite. Major funds continued to reduce holdings in core technology leaders, resulting in the weakest overall performance in the sector.
Alibaba ( 9988.HK ): down 1.27%, with a turnover of HKD 10.312 billion. Quarterly performance fluctuations and pressure on internet advertising and cloud business, coupled with foreign capital reduction, intensified downward momentum.
Tencent Holdings ( 700.HK ): down 1.03%, with a turnover of HKD 5.536 billion. Short-term profit pressure affected market sentiment, with active liquidity but a cautious stance from institutions.
Xiaomi Group ( 1810.HK ): down 0.43%, with a turnover of HKD 5.198 billion. Improved smartphone sales supported performance, with high turnover but a weak industry dominating the trend.
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<h3>Consumer Sector</h3>
The consumer sector showed significant differentiation, with some blue-chip stocks benefiting from improved consumption data performing strongly. Structural capital increased positions, and leading companies were actively traded.
POP MART ( 9992.HK ): up 2.72%, with a turnover of HKD 7.784 billion. Boosted by improved consumer sentiment and contributions from new products, strong expectations for the third-quarter report led to increased capital.
Meituan ( 3690.HK ): up 0.31%, with a turnover of HKD 2.772 billion. Steady growth in local service business, with structural capital inflow driving short-term stock price fluctuations.
INNOVENT BIO ( 1801.HK ): down 0.98%, with a turnover of HKD 6.221 billion. Phase adjustment in innovative drug sales, maintaining high R&amp;D investment, with increasing volatility due to policy expectation divergences.
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<h3>Energy Sector</h3>
The energy sector experienced limited fluctuations, with some resource stocks performing strongly against the trend. Defensive and high-dividend attributes attracted capital attention.
Zijin Mining ( 2899.HK ): down 1.11%, with a turnover of HKD 3.036 billion. Short-term adjustments in metal prices led to net capital outflow, with seasonal demand weakening.
CNOOC ( 883.HK ): up 1.04%, with a turnover of HKD 2.925 billion. International oil prices operating at high levels, with performance and dividend expectations attracting defensive capital allocation.
Huahong Semiconductor ( 1347.HK ): down 2.38%, with a turnover of HKD 2.978 billion
The chip industry's volatility and slow capacity release lead to cautious recovery expectations.
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<h3>Market Focus</h3>
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Core macro and industry focus news: The latest Federal Reserve minutes indicate that the interest rate hike cycle is nearing its end, supporting peripheral risk assets. The RMB exchange rate remains stable in the short term, alleviating funding pressure on Hong Kong stocks. Economic data from the mainland for the third quarter shows signs of recovery in consumption and technology demand.
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Capital flow: Today, southbound funds net bought approximately HKD 600 million, with the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect inflows of HKD 320 million and HKD 280 million, respectively. The overall trading volume of Hong Kong stocks fell back to around HKD 80 billion, with funds significantly reducing positions in growth and technology leaders, as Alibaba and Tencent both faced net selling by major players.
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<h3>Top Ten Stocks by Trading Volume</h3>
Alibaba (9988.HK), closed at HKD 163.00, down 1.27%, with a trading volume of HKD 10.312 billion.
POP MART (9992.HK), closed at HKD 257.20, up 2.72%, with a trading volume of HKD 7.784 billion.
INNOVENT BIO (1801.HK), closed at HKD 86.05, down 1.84%, with a trading volume of HKD 6.221 billion.
SMIC (981.HK), closed at HKD 75.15, up 1.49%, with a trading volume of HKD 6.044 billion.
TENCENT (700.HK), closed at HKD 628.00, down 1.03%, with a trading volume of HKD 5.536 billion.
Xiaomi Group (1810.HK), closed at HKD 46.26, down 0.43%, with a trading volume of HKD 5.198 billion.
Zijin Mining (2899.HK), closed at HKD 31.98, down 1.11%, with a trading volume of HKD 3.036 billion.
Huahong Semiconductor (1347.HK), closed at HKD 75.85, down 2.38%, with a trading volume of HKD 2.978 billion.
China National Offshore Oil (883.HK), closed at HKD 19.52, up 1.04%, with a trading volume of HKD 2.925 billion.
Meituan (3690.HK), closed at HKD 96.80, up 0.31%, with a trading volume of HKD 2.772 billion

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The three major indices of the Hong Kong stock market all fell, with the Hang Seng Tech Index leading the decline, and the technology sector showing the weakest performance. Leading stocks such as Alibaba and Tencent Holdings generally declined, with industry funds showing differentiation. Under the influence of overseas macro news, risk appetite remains cautious, with a slight net inflow of southbound funds but a noticeable reduction in holdings of technology leaders. The market is focused on the mainland's third-quarter reports and macro data, with volatility risks still present

- The Hang Seng Index (HSI) fell by 0.85%, with the technology sector under pressure and a net outflow of funds.  
- Major stocks like Alibaba and Tencent experienced declines, while some consumer stocks, such as Pop Mart, showed strength due to improved consumer sentiment.  
- Overall, the market saw a mixed performance with significant trading activity, particularly in the consumer sector, as investors reacted to macroeconomic signals and sector-specific developments.

LB Select

BABA-W

POP MART

SMIC

TENCENT

INNOVENT BIO

Hong Kong stocks close | Three major indices all fell, with the Tech Index down 1.28%, the technology sector under pressure; Alibaba fell 1.27%, Tencent fell 1.03%