Hong Kong stock market closing | The Hang Seng Index fell 1.28% to 25,760.73 points, E-Jun Group Holdings surged 67.01% leading the retail sector, and the technology index continued to decline as the risk-averse atmosphere in funds intensified
The three major indices of the Hong Kong stock market opened lower and continued to decline, with the Hang Seng Index reporting 25,760.73 points, and the technology index showing a clear adjustment trend. Mainstream funds continue to concentrate on heavyweight sectors such as technology and finance, but active funds have shifted towards thematic speculation and stocks with significant volatility, with E-Juan Group Holdings' notable increase becoming the market focus. Weak macro retail data has intensified market fluctuations, leading to a decrease in investors' risk appetite
Market Overview
▪ On December 3rd, Hong Kong stocks closed with the Hang Seng Index down 1.28%, at 25,760.73 points, showing a short-term pullback and failing to continue the previous trading day's high performance, with no new highs during the day; the last peak was on December 2nd.
▪ The Hang Seng Tech Index closed at 5,534.92 points, down 1.58%, also adjusting from yesterday's high, failing to create a new peak; the last high was also on December 2nd.
▪ The China Enterprises Index closed at 9,028.55 points, down 1.68%, continuing its adjustment without seeing new highs, with the peak being yesterday. The three major indices opened lower and fell today, with market sentiment turning cautious in the short term.
Sector Performance
▪ The retail sector faced pressure today, with an overall weak trend reflecting the pressure of domestic demand recovery and insufficient consumer confidence, leading to more cautious capital flows from investors. Within the sector, active stocks showed divergence, with Yi Jun Group Holdings recording a 67.01% increase, becoming the market's biggest highlight, as short-term funds concentrated on driving significant price fluctuations.
▪ The technology and internet-related sectors adjusted along with the market, with mainstream leaders such as Alibaba, Tencent Holdings, and Xiaomi Group all experiencing declines, indicating that funds within the sector are primarily focused on risk aversion, leading to low investment sentiment after being blocked at the peak.
▪ Traditional finance and banking sectors also saw slight pullbacks, with trading activity declining. Main funds relied more on performance certainty and defensive attributes, showing a lackluster performance in the current cautious market atmosphere.
Macroeconomic Background
▪ Current data on Hong Kong's retail sales year-on-year reveals a slowdown in growth, reflecting ongoing pressure on domestic demand recovery. Coupled with global economic uncertainties and high interest rates, this has intensified short-term volatility in Hong Kong stocks. Mainstream funds are more focused on macroeconomic data and policy guidance, maintaining cautious operations and strengthening awareness of external risks.
Popular Stocks
▪ Yi Jun Group Holdings (2442.HK) surged 67.01%, with a trading volume of HKD 23.4191 million. Although there is no obvious news driving this, the significant short-term increase is attributed to strong capital speculation, making it the biggest focus in the sector and the entire market.
▪ Shangshan Gold (1939.HK) rose 18.99%, with a trading volume of HKD 97.4774 million. The stock's activity increased, attracting some thematic capital inflows.
▪ Quantitative Party (2685.HK) increased 17.38%, with a trading volume of HKD 49.0746 million. The market is short-term chasing the technology growth theme, with active capital flows.
▪ Xiangxing International (1732.HK) rose 18.52%, with a trading volume of HKD 8.2253 million. The stock experienced significant intraday fluctuations, with clear characteristics of short-term thematic capital speculation.
▪ China Goldstone (1380.HK) increased 16.92%, with a trading volume of HKD 14.9427 million, with funds mainly focusing on short-term event-driven and oversold rebound logic.
Market Trading Volume TOP10
▪ Alibaba -W (9988.HK) closed at HKD 153.6, down 2.23%, with a trading volume of HKD 8.332 billion ▪ Tencent Holdings (700.HK) closing price HKD 611, down 0.82%, turnover HKD 6.723 billion
▪ Xiaomi Group-W (1810.HK) closing price HKD 40.22, down 1.18%, turnover HKD 4.331 billion
▪ Meituan-W (3690.HK) closing price HKD 95.9, down 0.62%, turnover HKD 3.751 billion
▪ SMIC (981.HK) closing price HKD 67.2, down 2.11%, turnover HKD 2.414 billion
▪ Kuaishou-W (1024.HK) closing price HKD 67.4, down 2.25%, turnover HKD 1.979 billion
▪ China Construction Bank (939.HK) closing price HKD 7.84, down 1.45%, turnover HKD 1.901 billion
▪ AIA Group (1299.HK) closing price HKD 79.55, down 1.55%, turnover HKD 1.718 billion
▪ Hong Kong Exchanges and Clearing (388.HK) closing price HKD 404.2, down 1.46%, turnover HKD 1.618 billion
▪ Zijin Mining (2899.HK) closing price HKD 32.78, up 0.18%, turnover HKD 1.572 billion
