Market Overview
▪ As of noon, the three major indices of the Hong Kong stock market rose together, with the Hang Seng Technology Index performing particularly strongly:
▪ The Hang Seng Index closed at 25,751.64 points at noon, up 0.45%
▪ The Hang Seng Technology Index closed at 5,540.44 points at noon, with an increase of 1.05%
▪ The National Enterprises Index closed at 8,951.30 points at noon, up 0.67%
Sector Performance
▪ The internet content and information sector rose overall, driven by a significant increase in Baidu and inflows of capital. The sector's main leader, Tencent Holdings, turned from decline to rise in the morning session, currently up 0.42%, with a trading volume of HKD 3.792 billion, showing active performance; Baidu performed the most prominently, rising 6.88% during the session, with a trading volume of HKD 1.407 billion, as market funds continued to focus on growth and innovative technology companies; Kuaishou rose 0.08%, with market trading becoming more rational. The strong fluctuations in Baidu's stock price were mainly due to investors' optimistic expectations regarding industry development and improvements in the company's fundamentals, with capital chasing it to lead the sector.
▪ The semiconductor sector collectively strengthened, with significant growth in demand in the chip supply chain boosting stock prices. INNOSCIENCE surged 9.23% during the session, SMIC rose 3.24%, with a trading volume of HKD 3.238 billion, and HUA HONG SEMI rose 1.45%. Main funds actively positioned in the semiconductor sector, driving up valuation levels, with leading stocks showing significant price elasticity, becoming one of the most sought-after directions for funds at noon.
▪ The retail sector showed volatility, with investors' risk appetite somewhat contracting, putting pressure on sector valuations. Alibaba rose 0.70% at noon, with a trading volume of HKD 3.58 billion, JD rose 1.25%, and MNSO fell 0.81%. There was significant differentiation within the consumer sector, as Alibaba had previously weakened in the short term due to market sentiment, but its valuation gradually stabilized at noon.
Macroeconomic Background
▪ In recent months, the growth rate of retail sales in the Hong Kong stock market increased from 4.8% to 5.3%, reflecting a recovery in consumer momentum. The improvement in the external environment and the stable exchange rate of the RMB enhanced the defensive capabilities and structural opportunities of the Hong Kong stock market. The consumer, financial, and technology sectors continued to attract capital, pushing the market's risk appetite structure upward.
Popular Stocks
▪ DATA UNION CAP (8375.HK) rose 47.97%, with a trading volume of HKD 23.6113 million. It performed actively during the session, with the placement agreement boosting market confidence, and short-term capital chasing helped push its increase to the forefront of the market.
▪ SHANXI INSTALL (2520.HK) rose 13.76%, with a trading volume of HKD 236 million. The company's H shares were fully circulated and accepted by the Securities Regulatory Commission, and the company recently signed the largest biodegradable materials project in the country, leading to a surge in volume during the session under favorable catalysts.
Market Trading Volume TOP10
▪ Tencent Holdings (700.HK) latest trading price HKD 599.00, up 0.42%, trading volume HKD 3.792 billion
▪ Alibaba -W (9988.HK) latest trading price HKD 144.30, up 0.70%, trading volume HKD 3.58 billion
▪ Semiconductor Manufacturing International Corporation (981.HK) latest transaction price HKD 71.80, up 3.24%, transaction amount HKD 3.238 billion
▪ POP MART (9992.HK) latest transaction price HKD 189.50, down 5.20%, transaction amount HKD 1.521 billion
▪ Baidu-SW (9888.HK) latest transaction price HKD 127.30, up 6.88%, transaction amount HKD 1.407 billion
▪ Xiaomi Group-W (1810.HK) latest transaction price HKD 38.86, up 0.73%, transaction amount HKD 1.396 billion
▪ Meituan-W (3690.HK) latest transaction price HKD 104.40, up 0.19%, transaction amount HKD 1.384 billion
▪ UBTECH (9880.HK) latest transaction price HKD 127.00, up 6.28%, transaction amount HKD 1 billion
▪ China National Offshore Oil Corporation (883.HK) latest transaction price HKD 21.50, up 4.17%, transaction amount HKD 1.24 billion
▪ China Construction Bank (939.HK) latest transaction price HKD 7.74, up 1.57%, transaction amount HKD 1.221 billion

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As of noon, the three major indices of the Hong Kong stock market rose together, with the Hang Seng Index up 0.45%, the Hang Seng Tech Index rising by 1.05%, and the National Enterprises Index increasing by 0.67%. On the market, the internet content and information sector as well as the semiconductor sector showed overall strength, with Baidu rising 6.88% to lead the gains, INNOSCIENCE soaring 9.22%, and leading companies like Tencent Holdings and Alibaba seeing moderate increases. The retail sector was volatile, with MNSO down 0.81%. Capital attention was focused on Tencent, Alibaba, and SMIC, with clear structural opportunities in the market, and the consumer, financial, and technology sectors performed prominently

- The Hong Kong stock market saw an overall rise, with the Hang Seng Index up 0.45% at 25,751.64 points and the Hang Seng Technology Index increasing by 1.05%.  
- The semiconductor sector experienced significant growth, with notable gains from Innoterra, which surged 9.23%, driven by increasing demand in the chip industry.  
- Retail stocks showed mixed performance amid tightening investor risk appetite, with Alibaba rising 0.70% while Miniso fell 0.81%, indicating differentiated trends within consumer segments.

Market Heartbeat

BIDU-SW

KUAISHOU-W

INNOSCIENCE

HUA HONG SEMI

JD-SW

MNSO

DATA UNION CAP

SHANXI INSTALL

POP MART

BABA-W

TENCENT

Tencent

SMIC

Alibaba

Tencent Holdings Limited

Baidu

Hong Kong Stock Midday Review | All three major indices rise, Baidu leads with over 6% increase, semiconductor sector strengthens with INNOSCIENCE up over 9%