Market Overview
▪ On December 2, the three major indices of the Hong Kong stock market showed mixed results, with the Hang Seng Index down 0.02% at 26,028.30 points; the Hang Seng China Enterprises Index down 0.11% at 9,162.40 points; and the Hang Seng Tech Index down 0.67% at 5,607.21 points.
▪ As of the time of writing, there were 718 stocks rising, 1,056 stocks falling, and 947 stocks closing flat, reflecting a cautious market sentiment with significant structural differentiation.
▪ Some leading stocks in the market performed strongly, with mainstream funds favoring consumer and core leading sectors in a differentiated environment, while the short-term outlook remains cautious.
Sector Performance
▪ The retail sector performed strongly, with a slight overall increase driven by improved consumer data. Alibaba rose against the trend by 1.36%, with a trading volume of HKD 9.448 billion, showing strong performance; the new consumer sector star Pop Mart rebounded by 1.67%, with the latest trading price at HKD 218.80 and a trading volume of HKD 1.543 billion; JD.com fell slightly by 0.94%, while Miniso rose by 0.57%. Funds focused on the leading Alibaba, with sector valuations and expectations driving incremental capital inflow.
▪ The internet content and information sector experienced fluctuations during the trading session, with significant differentiation within the sector. Tencent Holdings fell slightly by 0.24%, with a trading volume of HKD 4.746 billion; Kuaishou rose by 0.88%, with a trading volume of HKD 2.750 billion; Baidu rose slightly by 0.09%, with a trading volume of HKD 0.593 billion. Funds selectively flowed into leading companies amid the differentiated market.
▪ The restaurant sector overall declined, showing significant pressure, with profit expectations weighing on stock prices. Meituan fell sharply by 3.57%, with a trading volume of HKD 5.657 billion; Haidilao rose by 0.36%, and Yum China rose slightly by 0.16%. Investors structurally shifted towards defensive targets, avoiding leading stocks with significant profit pressure in the short term.
Macroeconomic Background
▪ The Hong Kong stock market's manufacturing PMI has recently been slightly above the threshold, and foreign exchange reserves have remained stable, indicating strong resilience in the market's fundamentals.
▪ The overall market is focused on the impact of economic data changes on corporate profits, with the current internal and external environment remaining key variables for Hong Kong stock volatility, as investor sentiment adjusts allocations based on macro data guidance.
Popular Stocks
▪ China Goldstone (1380.HK) rose by 18.00%, with a trading volume of HKD 0.025 billion. The stock exhibited high volatility, with funds showing rapid entry and exit, possibly related to short-term speculative activities.
▪ Jihong Co., Ltd. (2603.HK) rose by 4.91%, with a trading volume of HKD 0.275 billion. There are no recent public announcements, but funds are chasing strong-performing stocks in the short term, leading to increased attention.
▪ Guanghetong (638.HK) rose by 1.01%, with a trading volume of HKD 0.325 billion. The stock has attracted market funds in the short term, with trading activity warming up but no special event driving it.
▪ Longpan Technology (2465.HK) rose by 3.88%, with a trading volume of HKD 0.301 billion. Recently active funds have focused on this sector, with short-term unusual movements attracting speculative involvement
▪ Lion Group Holdings (2562.HK) fell 7.79%, with a trading volume of HKD 269 million. There are no major news, market selling pressure dominates, and short-term capital outflow is evident.
Market Trading Volume TOP10
▪ Alibaba -W (9988.HK) latest trading price HKD 157.00, up 1.36%, trading volume HKD 9.446 billion
▪ Meituan -W (3690.HK) latest trading price HKD 95.95, down 3.62%, trading volume HKD 5.635 billion
▪ Tencent Holdings (700.HK) latest trading price HKD 618.00, down 0.24%, trading volume HKD 4.746 billion
▪ Xiaomi Group -W (1810.HK) latest trading price HKD 40.62, up 0.79%, trading volume HKD 4.548 billion
▪ Kuaishou -W (1024.HK) latest trading price HKD 68.90, up 0.80%, trading volume HKD 2.750 billion
▪ ZTE Corporation (763.HK) latest trading price HKD 33.46, down 6.54%, trading volume HKD 2.232 billion
▪ BYD Company (1211.HK) latest trading price HKD 99.55, up 1.63%, trading volume HKD 1.969 billion
▪ XPeng Motors -W (9868.HK) latest trading price HKD 78.55, down 5.76%, trading volume HKD 1.781 billion
▪ Pop Mart (9992.HK) latest trading price HKD 218.80, up 1.67%, trading volume HKD 1.496 billion
▪ SMIC (981.HK) latest trading price HKD 68.35, down 1.58%, trading volume HKD 1.303 billion

The Hong Kong stock market showed mixed performance during the trading session, with the Hang Seng Index slightly declining and the technology sector under pressure. Alibaba performed strongly against the trend, with active trading and high capital attention. Meituan saw a significant drop, with notable sector rotation. Among popular stocks, Jihong Co. and China Goldstone had the highest gains, while Shiteng Holdings lagged behind. The market's trading volume concentration is high, with leading blue-chip stocks receiving continuous support. The fundamentals are notably resilient, investor sentiment is polarized, and the capital flow in sectors and individual stocks is significant

- On December 2, Hong Kong's stock indices showed mixed results, with the Hang Seng Index down 0.02% at 26,028.30 points.  
- The market sentiment appeared cautious, with 718 stocks rising and 1,056 falling, while leading stocks like Alibaba performed strongly amid a focus on consumer sectors.  
- The macroeconomic backdrop indicates resilience, with manufacturing PMI slightly above the threshold and stable foreign reserves, influencing investor sentiment and stock performance.

Market Heartbeat

BABA-W

POP MART

JD-SW

MNSO

TENCENT

KUAISHOU-W

BIDU-SW

MEITUAN

HAIDILAO

YUM CHINA

CHI KINGSTONE

JIHONG CO

FIBOCOM

LOPAL TECH

SYNAGISTICS

XIAOMI-W

Alibaba

Hong Kong stock market intraday | The Hang Seng Tech Index weakened, ZTE Corporation fell nearly 7%, Alibaba rose against the trend by 1.36%, and Pop Mart rebounded by 1.58%