Current Situation of the Three Major Indices
Hang Seng Index ( HSI.HK ): Up 0.03%.
Hang Seng China Enterprises Index ( HSCEI.HK ): Down 0.03%.
Hang Seng Tech Index ( HSTECH.HK ): Down 0.44%.
A total of 394 stocks rose, 1,116 stocks fell, and 1,212 stocks closed flat.
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<h3>Consumer Electronics Sector</h3>
The sector fell 0.56%, affected by weak global demand recovery and inventory pressure in the end market, resulting in overall net capital outflow from the sector, with leading stocks being avoided by short-term funds.
Xiaomi Group ( 1810.HK ): Down 0.47%, with a turnover of HKD 1.373 billion. Global consumer electronics demand remains weak, with limited signs of sales recovery. New business layouts such as automotive are beneficial for long-term growth but are subject to short-term fluctuations in the sector. Market sentiment is cautious.
BYD Electronics ( 285.HK ): Down 0.92%, with a turnover of HKD 715 million. Adjustments in overseas customer stocking rhythms put pressure on core profits. The company's advantages in industrial chain synergy remain, but there is short-term capital outflow. Overall, it is constrained by the pressure of sector adjustments.
Sunny Optical Technology ( 2382.HK ): Down 1.12%, with a turnover of HKD 491 million. Shipment expectations in the smart terminal market are low, leading to downward revisions in profit forecasts. The cyclical recovery still needs confirmation, and capital outflow exacerbates stock price pressure.
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<h3>Semiconductor Sector</h3>
The sector fell 0.41%, with the US-China technology competition and overseas policy risks affecting sentiment, leading to significant divergence in sector outlook and short-term capital flight.
SMIC ( 981.HK ): Down 0.13%, with a turnover of HKD 2.174 billion. Overseas export restrictions suppress expansion progress, putting pressure on high-end chip business. After negative news is cleared, it is expected to fluctuate at low levels. Institutions maintain phased portfolio adjustments.
HUA HONG SEMI ( 1347.HK ): Down 4.41%, with a turnover of HKD 2.405 billion. Competition in mature process chips intensifies, leading to significant performance fluctuations. Short-term capital is leaving, and technological changes are impacting the industry landscape.
JingTai Holdings ( 2228.HK ): Down 5.82%, with a turnover of HKD 912 million. Growth in AI chip and software business encounters bottlenecks, and style switching brings adjustments. Major funds are in control, and the adjustment range is expanding
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<h3>Medical Aesthetics and New Consumption Sector</h3>
The sector rose by 0.38%, with innovative companies gaining attention, and the themes of food and medical aesthetics upgrades standing out, resulting in overall net capital inflow.
Giant Biologics ( 2367.HK ): Increased by 9.06%, with a transaction volume of HKD 1.729 billion. Revenue and profit exceeded expectations driven by an innovative matrix, with policy and channel upgrades boosting valuation. Continuous buying from funds.
POP MART ( 9992.HK ): Decreased by 8.50%, with a transaction volume of HKD 6.107 billion. Short-term profit-taking combined with a decline in market sentiment intensified high-level adjustments. The overall theme consumption is under pressure, with significant adjustments among leading companies.
Haijia Medical ( 6078.HK ): Increased by 1.12%, with a transaction volume of HKD 351 million. Demand for medical aesthetic services has expanded, with leading brands increasing market share. Defensive attributes are favored by funds, showing significant anti-draw characteristics.
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<h3>Market Focus</h3>
Core Macro and Industry News:
The US dollar index has continued to strengthen over the past three days, putting pressure on the RMB to USD exchange rate, leading to a decline in risk appetite for Hong Kong stocks. The Federal Reserve's latest statement maintains a cautious attitude towards the timing of interest rate cuts, with inflation expectations revised downwards, creating pressure on Hong Kong stock valuations and capital flows. Domestic CPI and export order indices have weakened, putting pressure on the profitability of export-oriented sectors.
Capital Flow:
As of midday, southbound funds net outflow of HKD 1.24 billion, with Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect experiencing net outflows of HKD 523 million and HKD 717 million respectively, reflecting a cooling overall risk appetite for Hong Kong stocks. Profit-taking from POP MART led to a single-day drop of 8.5%, while innovative medical aesthetics leader Giant Biologics saw institutional accumulation, with its stock price strongly rising by 9.06%.
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<h3>Top Ten Stocks by Transaction Volume</h3>
POP MART ( 9992.HK ), transaction price HKD 234.60, decrease of 8.50%, transaction volume HKD 6.107 billion.
Alibaba -W ( 9988.HK ), transaction price HKD 162.80, increase of 0.56%, transaction volume HKD 4.340 billion.
HUA HONG SEMI ( 1347.HK ), transaction price HKD 72.60, decrease of 4.41%, transaction volume HKD 2.405 billion.
TENCENT ( 700.HK ), transaction price HKD 625.50, increase of 0.32%, transaction volume HKD 2.283 billion
SMIC ( 981.HK ), trading price HKD 74.75, down 0.13%, trading volume HKD 2.174 billion.
Meituan-W ( 3690.HK ), trading price HKD 98.45, up 2.45%, trading volume HKD 1.974 billion.
Giant Biogene ( 2367.HK ), trading price HKD 42.12, up 9.06%, trading volume HKD 1.729 billion.
CNOOC ( 883.HK ), trading price HKD 19.85, up 1.79%, trading volume HKD 1.665 billion.
Xiaomi Group-W ( 1810.HK ), trading price HKD 46.12, down 0.47%, trading volume HKD 1.373 billion.
Jingtai Holdings ( 2228.HK ), trading price HKD 11.00, down 5.82%, trading volume HKD 912 million

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The three major Hong Kong stock indices showed divergence, with the Hang Seng Index slightly rising during the session, while the Tech Index and the National Enterprises Index experienced slight declines. The consumer electronics and semiconductor sectors faced overall pressure, while the medical beauty and innovative consumption sectors performed actively. POP MART plummeted, while Giant Biogene surged against the trend, with market focus concentrated on the fluctuations of leading stocks. The net outflow of southbound funds triggered a decline in risk appetite, and it is expected that attention will still need to be paid to external interest rates and pressure on the RMB exchange rate in the future

- The Hang Seng Index shows mixed performance with a slight increase of 0.03%, while the Hang Seng China Enterprises Index and Hang Seng Tech Index decline by 0.03% and 0.44%, respectively.  
- The consumer electronics sector faces challenges due to weak global demand and inventory pressures, leading to significant outflows of capital, particularly affecting companies like Xiaomi and BYD Electronics.  
- Overall market sentiment is cautious, with net outflows from southbound funds and a decline in risk appetite reflected in the performance of major stocks.

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Hong Kong stock market intraday | The Hang Seng Index rose slightly by 0.03%, consumer electronics under pressure, GigaDevice rose against the trend by 9.06%, POP MART fell sharply by 8.50%