Market Overview<ul><li>On November 17, the three major indices of the Hong Kong stock market collectively fell during the session, with the Hang Seng Index reporting 26,313.62 points, down 0.97%.</li><li>The Hang Seng China Enterprises Index fell 0.94%, reporting 9,309.88 points.</li><li>The Hang Seng Tech Index had the largest decline, down 1.29%, reporting 5,737.52 points, indicating renewed pressure on tech stocks.</li><li>A total of 560 stocks rose, 1,295 stocks fell, and 871 stocks remained unchanged, indicating an overall increase in bearish sentiment in the market, with a clear risk-averse attitude among investors, leading to a setback in hot sectors.</li></ul>Sector Performance<ul><li>The retail sector saw a slight decline due to weak consumer demand, with Alibaba -W down 0.52%, trading volume of HKD 13.701 billion; JD.com -SW down 1.80%, trading volume of HKD 0.987 billion; Miniso down 0.86%. There are clear signs of capital outflow from the sector, with rising defensive sentiment among investors.</li><li>The internet content and information sector showed an overall downward trend, with Tencent Holdings down 0.86%, trading volume of HKD 5.795 billion, Baidu -SW down 2.82%, and Kuaishou -W down 1.12%. The leading companies in the industry are diverging, with most funds flowing out of the sector, and some heavyweight stocks under significant pressure.</li><li>The hardware, storage, and peripherals sector had mixed performance but showed an overall downward trend, with Xiaomi Group -W down 1.13%, trading volume of HKD 3.831 billion, Lenovo Group down 4.29%, and Botai Carlink down 2.52%, reflecting that the industry is still affected by recovery fluctuations, with funds adopting a short-term wait-and-see approach.</li></ul>Macroeconomic Background<ul><li>Recently, the Hong Kong stock market has focused on core macro data. The latest unemployment rate for the past three months remains at 3.7%, and the annual CPI is 1.1%, indicating a stable economic foundation and moderate inflation levels.</li><li>Overall, macro indicators are improving, which helps support medium- to long-term confidence in the Hong Kong stock market. However, short-term trading is still influenced by sector rotation and thematic drivers, with attention to be paid to changes in retail and foreign trade data in the future.</li></ul>Popular Stocks<ul><li>Beijing Jingdian Co., Ltd. rose 2.52%, trading volume of HKD 0.077 billion, with active short-term funds and increased market attention.</li><li>PACIFIC LEGEND saw a significant decline, down 12.00%, trading volume of HKD 0.01 billion, performing very weakly, with significant capital outflow.</li><li>Longpan Technology rose 3.95%, trading volume of HKD 0.216 billion, with sector rotation driving capital involvement and strong short-term performance.</li><li>Star Chain Group experienced a sharp drop, down 69.75%, trading volume of HKD 0.021 billion, with risk release and increased liquidity attention.</li><li>Shandong Molong rose slightly by 0.24%, trading volume of HKD 1.22 billion, with overall stable performance.</li></ul>Market Trading Volume TOP10<ul><li>Alibaba -W: down 0.52%, trading volume of HKD 13.695 billion- Tencent Holdings: down 0.86%, turnover HKD 5.794 billion</li></ul>- Xiaomi Group -W: down 1.13%, turnover HKD 3.829 billion- SMIC: down 0.20%, turnover HKD 3.738 billion- Hua Hong Semiconductor: up 0.13%, turnover HKD 2.565 billion- Meituan -W: unchanged, turnover HKD 2.105 billion- Pop Mart: down 0.09%, turnover HKD 1.987 billion- Ping An Insurance: down 1.17%, turnover HKD 1.959 billion- Ganfeng Lithium: up 7.91%, turnover HKD 1.882 billion- XPeng -W: down 3.04%, turnover HKD 1.583 billion

Hong Kong stocks fluctuated and fell during the session, with all three major indices weakening, and the technology and consumer sectors underperforming the market. Most blue-chip and technology leaders faced pressure, but Ganfeng Lithium strengthened against the trend. Market risk appetite has declined, with short-term attention on local thematic rotations and structural capital flows. Macroeconomic employment and inflation data are moderate, and overall market confidence remains acceptable

- On November 17, Hong Kong's stock market indices fell, with the Hang Seng Index down 0.97% at 26,313.62 points.  
- The overall market showed a bearish sentiment, with 1,295 stocks declining compared to 560 advancing, as investors exhibited increased risk aversion.  
- Key macroeconomic indicators, including a CPI of 1.1% and an unemployment rate of 3.9%, suggest moderate inflation and a potential easing of joblessness, supporting long-term market confidence.

Market Heartbeat

Ganfeng Lithium

BABA-W

JD-SW

MNSO

TENCENT

BIDU-SW

KUAISHOU-W

XIAOMI-W

LENOVO GROUP

PATEO

TIANQI LITHIUM

JINGCHENG MAC

PACIFIC LEGEND

LOPAL TECH

STARCOIN GROUP

SHANDONG MOLONG

SMIC

HUA HONG SEMI

GANFENGLITHIUM

Hong Kong stocks intraday | Three major indices all fell, the technology index dropped 1.29%, the Hang Seng Index fell nearly 1%, blue-chip and technology stocks generally under pressure, Ganfeng Lithium rose against the trend by 7.91