Market Overview
▪ The Hong Kong stock market faced pressure during the midday session. As of noon, the Hang Seng Index reported 26,439.68 points, down 1.01%. The index has adjusted for two consecutive days and failed to refresh its recent high, remaining below the previous trading day's high in the short term.
▪ The Hang Seng Tech Index closed down 1.65% at 5,729.41 points by noon, also failing to reach a new high. The last peak occurred on January 6, and the overall sentiment in the tech sector has become cautious.
▪ The China Enterprises Index closed at 9,141.25 points, down 1.11% by noon, failing to break through yesterday's recent high. The trend has retreated below the recent high, and market sentiment is clearly one of wait-and-see.
Sector Performance
▪ The retail sector was under pressure throughout the day, showing an overall downward trend. Core leader Alibaba -W dropped 4.05%, with a half-day trading volume of HKD 12.462 billion, indicating significant selling pressure from institutions and individual investors. Additionally, JD -SW fell 1.47%, and Miniso dropped 0.88%, reflecting continued weak consumer sentiment and a conservative flow of funds.
▪ The internet content and information sector showed weakness, with Tencent Holdings down 1.98% and a trading volume of HKD 7.447 billion. Kuaishou -W fell 2.78%, and Baidu -SW, although slightly up by 0.48% during the session, lacked overall industry momentum, with a cooling of fund interest and no significant positive catalysts in the short term.
▪ The semiconductor sector became a bright spot against the trend. Hua Hong Semiconductor surged 3.59% with a trading volume of HKD 1.989 billion, SMIC rose slightly by 0.33% with a trading volume of HKD 3.840 billion, and Wallen Technology increased by 4.84%. The semiconductor sector attracted attention from funds due to improved chip demand expectations, with noticeable inflows into the sector, and some leading stocks receiving sustained buying support, reflecting the current preference for growth sector fund allocation.
Macroeconomic Background
▪ Recently, the Hong Kong stock market has been significantly influenced by macroeconomic data, with investors focusing on GDP growth rates, retail sales, and unemployment rate changes. Economic momentum and consumer recovery have become core driving forces, while external trade conditions and policy expectations also affect market fluctuations. Overall, the macro environment and related data have become important references for market trading, driving funds to continuously switch their allocation directions.
Popular Stocks
▪ Zhongwei New Materials (2579.HK) rose 16.18% with a trading volume of HKD 355 million. Although there were no clear news on that day, the stock's high volatility may be driven by short-term speculative trading and sector activity.
▪ GCL-Poly Energy (451.HK) surged 26.92% with a trading volume of HKD 70.6318 million, becoming one of the strongest stocks in the market. The stock's activity significantly increased during the session, attracting speculative funds, indicating a strong short-term trading atmosphere.
▪ Nanshan Aluminum International (2610.HK) rose 14.52% with a trading volume of HKD 206 million. Although there were no public events to catalyze this movement, active fund inflows and a significant price increase indicate that funds are positioning for undervalued and cyclical opportunities
▪ Shuke Group (2350.HK) rose 16.47%, with a trading volume of HKD 4.9615 million, gaining market attention in the short term.
▪ XuanZhu Bio -B (2575.HK) rose 15.44%, with a trading volume of HKD 12.2064 million, attracting funds amid a favorable backdrop for active biopharmaceutical capital.
Market Trading Volume TOP10
▪ Alibaba -W (9988.HK) latest trading price HKD 144.70, down 4.05%, trading volume HKD 12.462 billion
▪ Tencent Holdings (700.HK) latest trading price HKD 620.00, down 1.98%, trading volume HKD 7.447 billion
▪ SMIC (981.HK) latest trading price HKD 75.85, up 0.33%, trading volume HKD 3.840 billion
▪ Xiaomi Group -W (1810.HK) latest trading price HKD 38.24, down 1.34%, trading volume HKD 3.325 billion
▪ Meituan -W (3690.HK) latest trading price HKD 103.80, down 2.17%, trading volume HKD 2.305 billion
▪ China Life (2628.HK) latest trading price HKD 31.90, up 2.57%, trading volume HKD 2.002 billion
▪ Hua Hong Semiconductor (1347.HK) latest trading price HKD 88.10, up 3.59%, trading volume HKD 1.989 billion
▪ Kuaishou -W (1024.HK) latest trading price HKD 73.40, down 2.78%, trading volume HKD 1.885 billion
▪ BOSS Zhipin -W (2076.HK) latest trading price HKD 79.40, down 3.87%, trading volume HKD 1.574 billion
▪ BYD Company (1211.HK) latest trading price HKD 95.85, down 3.38%, trading volume HKD 1.516 billion

As of noon, all three major indices in the Hong Kong stock market fell, with the Hang Seng Index down 1.01%, the Technology Index down 1.65%, and the State-Owned Enterprises Index down 1.11%; funds focused on the semiconductor sector, which rose against the trend, while the consumer and internet sectors led the decline, with leading companies like Alibaba -W and Tencent Holdings experiencing a pullback. The market's core focus is on consumer recovery and economic data guidance, with fund activity shifting towards strong growth sectors

- The Hong Kong stock market faced pressure, with the Hang Seng Index down 1.01% at 26,439.68 points and the Hang Seng Tech Index dropping 1.65%.  
- The retail sector struggled, highlighted by Alibaba's 4.05% decline and a cautious sentiment among investors, while semiconductor firms saw gains due to improved chip demand expectations.  
- Investors are closely monitoring macroeconomic indicators such as GDP growth, retail sales, and unemployment, significantly influencing market dynamics.

Market Heartbeat

Hua Hong

HUA HONG SEMI

BABA-W

JD-SW

MNSO

KUAISHOU-W

BIDU-SW

BIREN TECH

SMIC

CNGR

GCL NEWENERGY

NANSHAN AL INTL

MTT GROUP

XUANZHUBIO-B

Hong Kong Stock Midday Review | Semiconductor sector rises against the trend, Hang Seng Index down 1.01%, Alibaba -W plummets, Hua Hong Semiconductor leads the gains