Hong Kong stock market intraday | The Hang Seng Index gently rebounded, rising 0.17%, with Xiaomi Group leading the tech innovation sector, while the retail sector faced pressure

Market Heartbeat
2025.12.04 06:36
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Today, Hong Kong stocks rebounded moderately overall, with both the Hang Seng Index and the Hang Seng Tech Index rising. Xiaomi Group led the gains, boosting the hardware sector's activity. The retail sector performed poorly due to weak domestic demand, with mainstream funds adopting a short-term wait-and-see approach, showing significant divergence. Funds continue to focus on technology hardware and certain high-elasticity stocks, while macro data and exchange rate fluctuations become key points of attention for the market

Market Overview

▪ The Hang Seng Index rose slightly during the session, currently up 0.17%, latest at 25,803.37 points, maintaining a certain distance from the recent high set on December 2.

▪ The Hang Seng Tech Index performed relatively actively, rising 0.66% during the session, reported at 5,571.33 points, also failing to refresh the phase high from December 2.

▪ The China Enterprises Index saw a slight increase of 0.31%, currently reported at 9,056.52 points, still having room from the December 2 high.

▪ The three major indices continued a mild rebound pattern, with short-term performance remaining stable, while the pressure from the phase high still exists, and market sentiment is cautious.

Sector Performance

▪ The internet content and information sector experienced volatility, with leading stocks such as Tencent Holdings down 0.82%, Kuaishou down 0.52%, and Baidu slightly up 0.09%. Lacking prominent themes or news stimuli, funds are diverging among major internet leaders, maintaining an overall oscillating pattern.

▪ The retail sector continued to decline under pressure. Alibaba fell 0.26%, with a transaction volume of HKD 5.386 billion, JD Index slightly down 0.09%, and Miniso down 1.80%. The consumer side still lacks momentum, with weak demand, and mainstream funds are observing in the short term, leading to significant short-term pressure on the sector.

▪ The hardware, storage, and peripherals sector showed divergence, with Xiaomi Group strongly rising 3.38%, achieving a transaction volume of HKD 4.907 billion, becoming a highlight of market funds. Lenovo Group remained flat, while YN Group slightly fell 0.70%. There are prominent structural opportunities within the sector, with technology themes being the first to attract funds.

Macroeconomic Background

▪ Recently, the market has focused on fluctuations in retail sales year-on-year and other consumption indicators, reflecting that Hong Kong's domestic demand is yet to recover. The ongoing fluctuations in the external economic environment and the RMB exchange rate affect the overall risk appetite of Hong Kong stocks. With a dense release of macro data, the market may be dominated by policy expectations and fund flows, with an overall cautious atmosphere.

Popular Stocks

▪ Aoda Holdings (9929.HK) surged 327.18% during the session, with a transaction volume of HKD 93.521 million. Although there is no latest news driving this, the funds were active during the session, and short-term investment enthusiasm is very high.

▪ China Metal Resources Utilization (1636.HK) rose significantly by 14.06%, with a transaction volume of HKD 9.624 million. There is no latest news, but the transaction amount is relatively small, mainly due to tentative inflows from short-term funds.

▪ New Entertainment Technology Holdings (6933.HK) increased by 49.09%, with a transaction volume of HKD 3.194 million. Funds are chasing small-cap stocks with high elasticity, showing significant fluctuations during the session.

▪ Quanda Electric Group Holdings (1750.HK) rose 29.63%, with a transaction volume of HKD 4.213 million, performing outstandingly and continuously attracting structural funds for speculation.

▪ Madison Holdings (8057.HK) increased by 13.79%, with a transaction volume of HKD 2.692 million. There is no obvious news catalyst, but market liquidity is strong, leading to severe short-term fluctuations in the stock Market Trading Volume TOP10

▪ Tencent Holdings (700.HK) Latest trading price HKD 606, down 0.82%, trading volume HKD 6.367 billion

▪ Alibaba -W (9988.HK) Latest trading price HKD 153.2, down 0.26%, trading volume HKD 5.386 billion

▪ Xiaomi Group -W (1810.HK) Latest trading price HKD 41.58, up 3.38%, trading volume HKD 4.906 billion

▪ Meituan -W (3690.HK) Latest trading price HKD 97.4, up 1.56%, trading volume HKD 3.412 billion

▪ SMIC (981.HK) Latest trading price HKD 68.8, up 2.38%, trading volume HKD 2.004 billion

▪ Zijin Mining (2899.HK) Latest trading price HKD 33.2, up 1.28%, trading volume HKD 1.822 billion

▪ Hua Hong Semiconductor (1347.HK) Latest trading price HKD 76.15, up 2.97%, trading volume HKD 1.679 billion

▪ Kuaishou -W (1024.HK) Latest trading price HKD 67.05, down 0.52%, trading volume HKD 1.285 billion

▪ XPeng -W (9868.HK) Latest trading price HKD 75.5, up 0.13%, trading volume HKD 1.267 billion

▪ Horizon Robotics -W (9660.HK) Latest trading price HKD 8.24, up 6.32%, trading volume HKD 1.243 billion

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