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

During intraday trading, the three major indices of the Hong Kong stock market rose together, with the Hang Seng Index up 2.13% and the Hang Seng TECH Index up 3.07%. The technology and internet content sectors became the focus of capital pursuit, with leading stocks like Kuaishou and Alibaba showing significant gains. Retailers performed actively, while semiconductors faced pressure. Macroeconomic data supported market confidence, and overall market sentiment was positive. Some popular stocks experienced significant volatility, indicating capital chasing structural opportunities

- On November 24, Hong Kong's stock market saw all three major indices rise, with the Hang Seng Index increasing by 2.13% to 25,756.44 points.  
- The technology and internet sectors led the gains, driven by strong performances from companies like Kuaishou and Tencent, while retail stocks also benefited from a rebound in consumer confidence.  
- Despite some volatility in the semiconductor sector, overall market sentiment remained positive, supported by stable economic indicators and investor interest in growth sectors.

Market Heartbeat

Hang Seng TECH Index

Hang Seng Index

KUAISHOU-W

TENCENT

BIDU-SW

BABA-W

JD-SW

SMIC

HUA HONG SEMI

INNOSCIENCE

JINGRUI HLDGS

DZUG

GUOFUHEE

GANFENGLITHIUM

CHINA UPTOWN

XIAOMI-W

Alibaba

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