Market Overview
▪ On January 8, Hong Kong stocks closed lower across the board.
▪ The Hang Seng Index closed at 26,149.31 points, down 1.17%, starting a slight correction after reaching a phase high at the beginning of the year, with the current high-level consolidation trend unchanged.
▪ The Hang Seng Tech Index closed at 5,678.34 points, down 1.05%, also experiencing a slight decline, continuing to fluctuate within a high range recently.
▪ The China Enterprises Index closed at 9,039.34 points, down 1.09%.
Sector Performance
▪ The retail sector showed an overall downward trend, affected by weakening consumer demand. Alibaba -W fell 2.26% to HKD 142.60, with a total trading volume of HKD 15.345 billion, indicating a significant outflow of market capital. JD.com -SW fell 2.02%, Miniso fell 1.09%, with the sector showing a weak trend and investor sentiment turning cautious.
▪ The internet content and information sector also weakened, overall affected by a lack of positive news. Tencent Holdings fell 1.36% to HKD 616.00, with a trading volume of HKD 11.517 billion, ranking among the most active in terms of capital. Kuaishou -W fell 2.51%, Baidu -SW fell 3.31%, reflecting an increase in risk-averse sentiment among investors, putting overall pressure on the sector.
▪ The restaurant service sector showed a mixed pattern, with Meituan -W significantly down 3.35% to HKD 101.00, with a total trading volume of HKD 7.254 billion, making it one of the most active stocks in the sector and the entire market, but intensified market competition impacted investor sentiment. Haidilao fell 1.96%, while Mixue Group rose 1.43%, indicating a clear preference shift among funds within the sector.
Macroeconomic Background
▪ The Hong Kong stock market has been closely monitoring macroeconomic data performance over the past month, focusing on fluctuations in important indicators such as retail, imports and exports, CPI, and PMI.
▪ Recently, the rhythm of economic recovery resonating with external risks has led to increased short-term volatility in the market. Consumer and trade-related data and policy changes have become key factors influencing investors' risk preferences.
Popular Stocks
▪ Asia-Pacific Satellite (1045.HK) rose 20.85%, with a trading volume of HKD 159 million. The company engages in satellite communication services, positioned in a popular sector, with major capital inflows stimulating a significant daily price increase.
▪ Lingxiong Technology (2436.HK) rose 52.20%, with a trading volume of HKD 11.0828 million. There was no obvious news driving this, but short-term capital inflows led to a strong surge, with significant hot spot effects.
▪ Idali Holdings (720.HK) rose 43.53%, with a trading volume of HKD 3.0055 million. Short-term market capital pursued the stock, and although there was no major news disclosed, the increased activity in the sector attracted capital involvement.
▪ Junzhi Group (1300.HK) rose 32.47%, with a trading volume of HKD 11.0816 million. There were noticeable intraday fluctuations, driving the stock to rise significantly
▪ Cybernaut International Holdings (1020.HK) rose 18.33%, with a transaction amount of HKD 25.4382 million. The active themes have driven stage capital attention, and market speculation sentiment is relatively high.
Market Transaction Amount TOP10
▪ Alibaba -W (9988.HK) latest transaction price HKD 142.60, down 2.26%, transaction amount HKD 15.345 billion
▪ Tencent Holdings (700.HK) latest transaction price HKD 616.00, down 1.36%, transaction amount HKD 11.517 billion
▪ Meituan -W (3690.HK) latest transaction price HKD 101.00, down 3.35%, transaction amount HKD 7.254 billion
▪ SMIC (981.HK) latest transaction price HKD 74.95, up 0.33%, transaction amount HKD 7.054 billion
▪ Xiaomi Group -W (1810.HK) latest transaction price HKD 38.02, down 0.37%, transaction amount HKD 6.539 billion
▪ Hua Hong Semiconductor (1347.HK) latest transaction price HKD 91.65, up 2.63%, transaction amount HKD 3.988 billion
▪ Ping An Insurance (2318.HK) latest transaction price HKD 70.20, down 1.27%, transaction amount HKD 3.647 billion
▪ Lenovo Group (992.HK) latest transaction price HKD 8.78, down 5.59%, transaction amount HKD 2.986 billion
▪ Kuaishou -W (1024.HK) latest transaction price HKD 71.90, down 2.51%, transaction amount HKD 2.540 billion
▪ AIA Group (1299.HK) latest transaction price HKD 83.85, down 2.44%, transaction amount HKD 2.427 billion

On January 8, 2026, the Hong Kong stock market closed with all three major indices declining. The retail and internet sectors led the drop, with significant declines in leading companies such as Alibaba and Meituan, as funds continued to focus on macroeconomic data trends. Some technology concept stocks were significantly active, highlighting structural opportunities

- On January 8, Hong Kong stocks closed lower, with the Hang Seng Index down 1.17% at 26149.31 points amid high volatility and mixed investor sentiment.  
- The retail and internet sectors saw declines due to weakened consumer demand and lack of positive news, with Alibaba falling 2.26% and Tencent down 1.36%.  
- Conversely, satellite communication firm APT Satellite surged 20.85%, driven by significant capital inflow, highlighting varied market performance among individual stocks.

Market Heartbeat

BABA-W

JD-SW

MNSO

TENCENT

KUAISHOU-W

BIDU-SW

MEITUAN

HAIDILAO

MIXUE GROUP

APT SATELLITE

LX TECHNOLOGY

AUTO ITALIA

TRIGIANT

CYBERNAUT INT'L

SMIC

XIAOMI-W

Meituan

Alibaba

Hong Kong stocks closed｜All three major indices adjusted, technology and consumer sectors under pressure, semiconductor manufacturers rose against the trend