Market Overview
▪ The main indices of the Hong Kong stock market continued to adjust during the trading session, with all three major indices collectively declining.
▪ The Hang Seng Index reported 26,450.08 points, down 0.97%, failing to maintain the previous new high and retreating from the recent peak.
▪ The Hang Seng Tech Index latest reported 5,726.73 points, down 1.69%, also pulling back from yesterday's high, without reaching a new high.
▪ The Hang Seng China Enterprises Index recorded 9,147.62 points so far, down 1.05%, retreating from the previous high.
Sector Performance
▪ The retail sector generally declined during the session, affected by weakening macro sentiment, leading to valuation pressure. The sector leader Alibaba -W fell 3.45%, with a trading volume of HKD 8.095 billion, leading the decline among index constituents, reflecting continued capital outflow. JD.com -SW fell 0.43%, Miniso fell 0.78%, with overall demand weak and a strong wait-and-see atmosphere in the market.
▪ The internet content and information sector also declined, with investors holding a cautious attitude towards the industry's prospects. Tencent Holdings fell 2.13%, with a trading volume of HKD 4.263 billion, showing significant capital outflow. Kuaishou -W fell 3.31%, Baidu -SW fell 0.21%. Overall, technology companies are under valuation pressure, with short-term capital risk aversion rising.
▪ The semiconductor manufacturers sector showed a mixed performance. SMIC fell 1.59%, with a trading volume of HKD 2.424 billion, while Hua Hong Semiconductor rose 1.59% against the trend, with a trading volume of HKD 1.098 billion, and Wallface Technology rose 6.84%. Some leading companies performed strongly and attracted certain capital attention, but it was difficult to drive the overall sector stronger.
Macroeconomic Background
▪ Recently, the Hong Kong stock market has focused on changes in retail, exports, and unemployment rates. Economic data fluctuations and the recovery process of consumer confidence have attracted market attention, with investors closely monitoring the impact of the economic linkage between the mainland and Hong Kong on corporate profits and liquidity, leading to a dominant wait-and-see sentiment in the market.
Popular Stocks
▪ GCL-Poly Energy (451.HK) rose 26.92% during the session, with a trading volume of HKD 48.4439 million. Against the backdrop of a broad market decline, short-term capital concentrated inflow, showing strong performance.
▪ Zhongwei New Materials (2579.HK) rose 12.00% during the session, with a trading volume of HKD 247 million. This stock has been active recently, attracting short-term capital attention.
▪ Hard Egg Innovation (400.HK) rose 12.43% during the session, with a trading volume of HKD 52.8278 million. Under the technology growth logic, short-term capital preference is evident.
▪ Tongyuan Kang Pharmaceutical -B (2410.HK) rose 10.37% during the session, with a trading volume of HKD 150 million, with some quality stocks in the pharmaceutical sector performing against the trend, showing significant short-term capital inflow.
▪ XieTong Communication Equity (2996.HK) rose 81.25% during the session, with a trading volume of HKD 1.7709 million, with extreme fluctuations in the stock during the session, increasing market heat.
Market Trading Volume TOP10
▪ Alibaba -W (9988.HK) latest trading price HKD 145.60, down 3.45%, with a trading volume of HKD 80.95 billion
▪ Tencent Holdings (700.HK) latest transaction price HKD 619.00, down 2.13%, transaction amount HKD 4.263 billion
▪ SMIC (981.HK) latest transaction price HKD 74.40, down 1.59%, transaction amount HKD 2.424 billion
▪ Xiaomi Group -W (1810.HK) latest transaction price HKD 38.64, down 0.31%, transaction amount HKD 1.914 billion
▪ BOSS Zhipin -W (2076.HK) latest transaction price HKD 78.90, down 4.48%, transaction amount HKD 1.568 billion
▪ Hansoh Pharmaceutical (3692.HK) latest transaction price HKD 39.82, up 3.21%, transaction amount HKD 1.378 billion
▪ Kuaishou -W (1024.HK) latest transaction price HKD 72.85, down 3.51%, transaction amount HKD 1.372 billion
▪ Meituan -W (3690.HK) latest transaction price HKD 104.30, down 1.7%, transaction amount HKD 1.175 billion
▪ Hua Hong Semiconductor (1347.HK) latest transaction price HKD 86.45, up 1.65%, transaction amount HKD 1.098 billion
▪ BYD Company (1211.HK) latest transaction price HKD 96.00, down 3.23%, transaction amount HKD 1.004 billion

The three major indices of the Hong Kong stock market fell collectively, with the Hang Seng Index down 0.97% and the Hang Seng Tech Index down 1.69%. Retailers and internet content sectors weakened across the board, with Alibaba down 3.45% and Tencent Holdings down 2.13%. The semiconductor sector showed divergence, with Hua Hong Semiconductor rising 1.59% against the trend. The market is focused on macroeconomic fluctuations and investor wait-and-see sentiment, with popular stocks such as XieTong Communication equity and GCL-Poly Energy performing strongly during the session

- The Hong Kong stock market indices experienced a decline, with the Hang Seng Index dropping to 26,450.08 points, down 0.97%.  
- The retail sector faced pressure due to weakened macro sentiment, leading to declines in major stocks like Alibaba and Tencent, while semiconductor performances varied.  
- In contrast, a few stocks such as GCL-Poly Energy and Zhongwei Advanced Materials saw significant gains amid a generally bearish market.

Market Heartbeat

BABA-W

JD-SW

MNSO

TENCENT

KUAISHOU-W

BIDU-SW

SMIC

HUA HONG SEMI

GCL NEWENERGY

CNGR

INGDAN

TYK MEDICINES-B

SYNERTONE RTS

XIAOMI-W

BOSS ZHIPIN-W

Alibaba

Tencent Holdings Limited

ISHARESHSI

Hang Seng Index

Tencent

Hong Kong Stock Market Update | Hang Seng Index down 0.97%, internet and retail under pressure, Synergy Communications shares surge over 80%