--- title: "Hong Kong Stock Midday Review | Hang Seng TECH Index fell 1.26%, Xiaomi dropped 3.11% leading the decline" type: "News" locale: "en" url: "https://longbridge.com/en/news/270102547.md" description: "The three major indices of the Hong Kong stock market adjusted collectively at noon, with the market experiencing high-level fluctuations. The retail, internet, and hardware sectors showed significant weakness, with Xiaomi Group falling more than 3%. Some small-cap stocks saw significant gains, with TRANSTECH surging nearly 39% in a single day, reflecting a preference for structural funds. The latest annual retail sales rebound has stimulated market attention on consumption recovery, but the pullback of heavyweight stocks has put overall market pressure" datetime: "2025-12-18T04:13:04.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/270102547.md) - [en](https://longbridge.com/en/news/270102547.md) - [zh-HK](https://longbridge.com/zh-HK/news/270102547.md) --- # Hong Kong Stock Midday Review | Hang Seng TECH Index fell 1.26%, Xiaomi dropped 3.11% leading the decline **Market Overview** ▪ As of the midday close on December 18, Hong Kong stocks experienced a collective adjustment, continuing the high-level volatility pattern. ▪ By midday, the Hang Seng Index reported 25,357.64 points, down 0.44%, with short-term upward momentum showing signs of slowing. ▪ The Hang Seng TECH Index closed at 5,389.3 points at midday, down 1.26%, with the technology sector under significant pressure. ▪ The Hang Seng China Enterprises Index closed at 8,790.55 points at midday, down 0.6%. **Sector Performance** ▪ The retail sector weakened overall, with leading stocks generally declining. Alibaba -W's latest transaction price was HKD 143.70, down 1.58%, with a transaction volume reaching HKD 3.151 billion, showing significant pressure. JD.com -SW fell by 0.53%, while Miniso's decline reached 3.25%. Short-term funds are cautious, reflecting ongoing volatility in consumer recovery, with some funds waiting for further verification of the recovery trend through retail sales data. ▪ The internet content and information sector also weakened, with mainstream stocks showing significant pullbacks. Tencent Holdings fell by 0.58%, Kuaishou -W dropped by 0.84%, and Baidu -SW decreased by 1.77%. There was a noticeable outflow of funds from the sector, with market risk appetite cooling, and the drag effect of heavyweight sectors on the index becoming prominent. ▪ The hardware and consumer electronics sectors faced significant pressure, with Xiaomi Group -W dropping by as much as 3.11%, with the latest transaction price at HKD 39.94 and a transaction volume of HKD 2.704 billion, reflecting a dominant risk-averse sentiment. Lenovo Group and Lenovo Holdings fell by 2.51% and 1.79%, respectively, with demand signals in the hardware sector still unclear, leading to a wait-and-see approach in the market. **Macroeconomic Background** ▪ The Hong Kong stock market remains attentive to local consumption signals. In October, the latest year-on-year retail sales in Hong Kong grew by 5.3%, surpassing the previous month's performance, with clear signs of structural recovery. This data provides some support for retail and consumption-related sectors, while the market's short-term direction is still dominated by economic recovery and inflation expectations, with investors focusing on the impact of festive consumption and foreign trade performance on sector recovery. **Popular Stocks** ▪ TRANSTECH (9963.HK) surged by 38.89%, with a transaction volume of HKD 1.746 million. The company announced a placement of up to 52 million shares at a discount of approximately 11.85%, yet the stock price rose, highlighting market enthusiasm for structural speculation in small-cap stocks. ▪ Huamei Lele (8429.HK) increased by 37.74%, with a transaction volume of HKD 768,500, standing out against the weak market and attracting short-term fund interest. ▪ ZhiHua Group (1842.HK) rose by 17.65%, with a transaction volume of HKD 877,600, driven by concentrated short-term fund inflows leading to stock price fluctuations. ▪ Chuangyue Holdings (653.HK) increased by 10.34%, with a transaction volume of HKD 5.1224 million, as its subsidiary Chuangyue Supply Chain engaged in comprehensive strategic cooperation with Ziyuan Yuan, prompting some active funds to seek short-term opportunities to drive the stock price. **Market Transaction Volume TOP10** ▪ Alibaba -W (9988.HK) latest transaction price HKD 143.70, down 1.58%, transaction amount HKD 3.151 billion ▪ Tencent Holdings (700.HK) latest transaction price HKD 601.50, down 0.58%, transaction amount HKD 2.940 billion ▪ Xiaomi Group -W (1810.HK) latest transaction price HKD 39.94, down 3.11%, transaction amount HKD 2.704 billion ▪ Yangtze Optical Fibre and Cable (6869.HK) latest transaction price HKD 47.48, up 2.06%, transaction amount HKD 2.220 billion ▪ SenseTime -W (20.HK) latest transaction price HKD 1.90, down 3.55%, transaction amount HKD 1.326 billion ▪ SMIC (981.HK) latest transaction price HKD 65.00, up 0.39%, transaction amount HKD 1.293 billion ▪ China International Capital Corporation (3908.HK) latest transaction price HKD 19.65, up 3.64%, transaction amount HKD 1.232 billion ▪ China Mobile (941.HK) latest transaction price HKD 83.85, down 0.71%, transaction amount HKD 905 million ▪ Meituan -W (3690.HK) latest transaction price HKD 100.80, down 0.49%, transaction amount HKD 870 million ▪ HSBC Holdings (5.HK) latest transaction price HKD 117.80, up 0.26%, transaction amount HKD 783 million ### Related Stocks - [STECH.HK](https://longbridge.com/en/quote/STECH.HK.md) - [09963.HK](https://longbridge.com/en/quote/09963.HK.md) - [513130.CN](https://longbridge.com/en/quote/513130.CN.md) - [07226.HK](https://longbridge.com/en/quote/07226.HK.md) - [07552.HK](https://longbridge.com/en/quote/07552.HK.md) - [09988.HK](https://longbridge.com/en/quote/09988.HK.md) - [09618.HK](https://longbridge.com/en/quote/09618.HK.md) - [09896.HK](https://longbridge.com/en/quote/09896.HK.md) - [00700.HK](https://longbridge.com/en/quote/00700.HK.md) - [01024.HK](https://longbridge.com/en/quote/01024.HK.md) - [09888.HK](https://longbridge.com/en/quote/09888.HK.md) - [01810.HK](https://longbridge.com/en/quote/01810.HK.md) - [00992.HK](https://longbridge.com/en/quote/00992.HK.md) - [03396.HK](https://longbridge.com/en/quote/03396.HK.md) - [08429.HK](https://longbridge.com/en/quote/08429.HK.md) - [01842.HK](https://longbridge.com/en/quote/01842.HK.md) - [00653.HK](https://longbridge.com/en/quote/00653.HK.md) - [06869.HK](https://longbridge.com/en/quote/06869.HK.md) - [00020.HK](https://longbridge.com/en/quote/00020.HK.md) ## Related News & Research - [New Buy Rating for Semiconductor Manufacturing International (0981), the Technology Giant](https://longbridge.com/en/news/286533307.md) - [Baidu Says AI Is Now Its Core Growth Engine](https://longbridge.com/en/news/286797844.md) - [Alibaba Files Form 13F as Investment Manager, Highlights WVR Structure](https://longbridge.com/en/news/286686984.md) - [Baidu Advances Agent Portfolio to Embrace the Agent Era, Champions Daily Active Agents as Key Metric | BIDU Stock News](https://longbridge.com/en/news/286301516.md) - [JD.com, Inc. 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