Hong Kong stocks intraday | Hangke rose over 3%, technology sector up, Kuaishou surged 7.58% as funds increased positions in internet leaders

Market Overview

▪ On November 24, all three major indices of the Hong Kong stock market rose, with the Hang Seng Index up 2.13% to 25,756.44 points; the Hang Seng China Enterprises Index up 1.94% to 9,092.44 points; and the Hang Seng TECH Index up 3.07% to 5,561.16 points.

▪ As of the time of writing, 1,185 stocks in Hong Kong rose, 661 fell, and 880 remained flat, indicating a positive overall market sentiment, with funds flowing back into long positions and an increase in investor risk appetite.

▪ Leading industries showed divergent performances, highlighting structural opportunities, with the technology and internet sectors attracting significant capital, driving a strong rebound in the indices.

Sector Performance

▪ The technology and internet content sectors performed the strongest. Driven by growth in traffic and advertising business, Kuaishou surged 7.58%, Tencent Holdings rose 2.79%, and Baidu increased by 4.19%. Leading stocks in the sector received concentrated capital support, leading the market rebound.

▪ The retail sector overall rose, with consumer recovery becoming the main theme. Alibaba surged 5.42% with a transaction volume of HKD 21.442 billion, JD.com rose 2.63%, and trading was active, reflecting a rebound in consumer confidence driving capital inflow into the industry.

▪ The semiconductor manufacturers sector experienced a volatile pullback, affected by fluctuations in industry demand. SMIC fell 1.31%, Hua Hong Semiconductor dropped 4.16%, and the sector faced pressure, with short-term capital outflows, while Innovent Biologics slightly increased by 0.72%.

Macroeconomic Background

▪ In October, Hong Kong's composite CPI year-on-year rose to 1.2%, indicating moderate inflation, while the unemployment rate remained stable at 3.8% for three months, reflecting overall stability in the labor market. The manufacturing PMI maintained expansion, and retail and import-export data continued to release consumption and trade momentum, providing support for the bottoming rebound of Hong Kong stocks.

▪ Economic data supported investor sentiment, with the market focusing on the subsequent strength of economic recovery, as funds further sought growth sectors and strong individual stocks.

Popular Stocks

▪ JINGRUI Holdings (1862.HK) rose 50.00%, with a transaction volume of HKD 0.04 billion. It was favored by short-term capital, becoming the stock with the largest intraday increase in the market, but the transaction amount was limited, with significant volatility, reflecting characteristics of short-term speculative trading.

▪ China Resources Gas (1635.HK) fell 3.75%, with a transaction volume of HKD 2.19 billion. The stock faced some capital outflows and was under short-term pressure.

▪ Guofu Hydrogen Energy (2582.HK) rose 7.76%, with a transaction volume of HKD 4.10 billion. The market showed a certain level of interest in the emerging energy sector, with capital exhibiting speculative characteristics.

▪ Ganfeng Lithium (1772.HK) fell 5.30%, with a transaction volume of HKD 18.40 billion. The weakening stock price reflected overall sector divergence, with significant signs of capital outflow.

▪ China Shangcheng (2330.HK) rose 7.41%, with a transaction volume of HKD 0.20 billion. Capital inflow drove outstanding short-term performance, with increased attention from short-term funds, and the stock price reached a 52-week high Market Trading Volume TOP10

▪ Alibaba -W (9988.HK) increased by 5.28%, trading volume HKD 21.397 billion, latest transaction price HKD 155.40

▪ SMIC (981.HK) decreased by 1.38%, trading volume HKD 8.334 billion, latest transaction price HKD 67.85

▪ Tencent Holdings (700.HK) increased by 2.79%, trading volume HKD 6.763 billion, latest transaction price HKD 627.00

▪ Xiaomi Group -W (1810.HK) increased by 1.94%, trading volume HKD 6.404 billion, latest transaction price HKD 38.82

▪ Hua Hong Semiconductor (1347.HK) decreased by 4.16%, trading volume HKD 4.817 billion, latest transaction price HKD 70.20

▪ Kuaishou -W (1024.HK) increased by 7.58%, trading volume HKD 2.697 billion, latest transaction price HKD 68.85

▪ Meituan -W (3690.HK) increased by 3.04%, trading volume HKD 2.036 billion, latest transaction price HKD 98.45

▪ CNOOC (883.HK) decreased by 1.49%, trading volume HKD 1.891 billion, latest transaction price HKD 21.22

▪ Ganfeng Lithium (1772.HK) decreased by 5.34%, trading volume HKD 1.840 billion, latest transaction price HKD 48.18

▪ China Construction Bank (939.HK) increased by 1.24%, trading volume HKD 1.480 billion, latest transaction price HKD 8.19