Hong Kong stock market intraday | The Hang Seng Index fell 0.33%, the Technology Index slightly rose, POP MART led the gains with an increase of 3.11%, and the consumer sector saw increased capital attention
On November 28th, the Hong Kong stock market showed divergence among the three major indices during trading, with the Hang Seng Index and the Hang Seng China Enterprises Index slightly dipping, while the Hang Seng TECH Index saw a slight increase. There was a noticeable rotation among sectors within the market, with retail and jewelry toy sectors experiencing high capital enthusiasm, and POP MART leading with significant gains. Against the backdrop of capital divergence, mainstream technology stocks maintained active trading, and some leading consumer stocks were boosted by holiday and consumption expectations. Overall, the macro environment and changes in data dominated investor sentiment, and the market remained in a cautious wait-and-see pattern
Market Overview
▪ On November 28, the three major indices of the Hong Kong stock market showed mixed results, with the Hang Seng Index falling by 0.33% to 25,860.25 points; the Hang Seng China Enterprises Index down by 0.31% to 9,136.54 points; and the Hang Seng TECH Index rising by 0.09% to 5,602.84 points.
▪ As of the time of writing, there were 752 stocks rising, 965 stocks falling, and 1,004 stocks closing flat, indicating a volatile market performance with clear capital competition and an overall neutral to cautious sentiment.
▪ The performance of stock indices was divergent, highlighting a structural market with capital showing sustained interest in certain leading consumer and technology blue-chip stocks.
Sector Performance
▪ The retail sector showed overall volatility, with performance diverging due to changes in consumer data. Alibaba rose by 0.93%, with a transaction volume of HKD 6.580 billion, receiving continuous allocation from mainstream capital. JD.com increased by 0.86%, with a transaction volume of HKD 0.685 billion reflecting phase-specific capital attention. Miniso fell by 0.77%, with a transaction volume of HKD 0.051 billion, as some individual stocks faced capital pressure.
▪ The internet content and information sector overall declined, with Tencent Holdings slightly down by 0.08%, and a transaction volume of HKD 4.794 billion. Kuaishou fell by 0.73%, while Baidu rose against the trend by 0.53%. Large technology stocks generally saw high transaction volumes, reflecting capital's long and short positions divergence.
▪ The retail sector for jewelry/toys/stationery performed relatively steadily, lacking hot catalysts within the sector. However, the leading company POP MART rose by 3.11%, with a transaction volume of HKD 2.597 billion, becoming the main focus of capital, driven by holiday promotions and expectations of consumption recovery. China Duty Free fell by 2.10%, and Chow Tai Fook fell by 1.45%, indicating clear structural opportunities within the sector.
Macroeconomic Background
▪ Recently, the Hong Kong stock market has mainly focused on macro data such as retail sales year-on-year and money supply, with newly released indicators showing moderate growth.
▪ Supported by retail data and monetary environment, investors have shown high attention to subsequent consumption vitality and liquidity changes. Overall, market trading is primarily cautious and wait-and-see, with short-term capital preferring sectors with stable performance or thematic catalysts. Currently, changes in macro data are the core logic driving market direction.
Popular Stocks
▪ POP MART (9992.HK) rose by 3.11%, with the latest transaction price at HKD 225.40 and a transaction volume of HKD 2.597 billion. Against the backdrop of divergent Hong Kong stock indices, the consumer sector's capital attention has increased. POP MART's rise is attributed to holiday consumption expectations and industry recovery signals, making it highly favored by investors (source: Wall Street Journal).
▪ Alibaba -W (9988.HK) rose by 0.93%, with the latest transaction price at HKD 152.00 and a transaction volume of HKD 6.580 billion. Although there were no significant company news, active capital main forces continued to intervene, driving the retail sector's performance.
▪ Tencent Holdings (700.HK) fell by 0.08%, with the latest transaction price at HKD 611.00 and a transaction volume of HKD 4.794 billion. Despite sector adjustments, capital trading remained enthusiastic, reflecting the high liquidity attributes of technology leadersMarket Trading Volume TOP10
▪ Alibaba -W (9988.HK) Latest trading price HKD 152.00, increase 0.93%, trading volume HKD 6.580 billion
▪ Tencent Holdings (700.HK) Latest trading price HKD 611.00, decrease 0.08%, trading volume HKD 4.794 billion
▪ POP MART (9992.HK) Latest trading price HKD 225.40, increase 3.11%, trading volume HKD 2.597 billion
▪ Meituan -W (3690.HK) Latest trading price HKD 103.30, decrease 0.67%, trading volume HKD 2.566 billion
▪ Xiaomi Group -W (1810.HK) Latest trading price HKD 40.92, decrease 0.44%, trading volume HKD 2.163 billion
▪ SMIC (981.HK) Latest trading price HKD 68.70, increase 0.51%, trading volume HKD 1.844 billion
▪ Hua Hong Semiconductor (1347.HK) Latest trading price HKD 74.55, increase 2.76%, trading volume HKD 1.283 billion
▪ UBTECH (9880.HK) Latest trading price HKD 113.00, increase 3.76%, trading volume HKD 948 million
▪ GAC Group (2238.HK) Latest trading price HKD 4.07, increase 14.65%, trading volume HKD 871 million
▪ Zijin Mining (2899.HK) Latest trading price HKD 30.90, increase 0.65%, trading volume HKD 866 million
