Market Overview
▪ In the Hong Kong stock market, the three major indices continue to rebound.
▪ The Hang Seng Index is currently at 26,955.15 points, up 1.3%, still some distance from the peak reached on November 13 last year, and has not yet broken through the new high in the short term.
▪ The Hang Seng TECH Index is currently at 5,911.72 points, up 0.83%, with some room for recovery from the high on November 13, 2025.
▪ The Hang Seng China Enterprises Index is currently at 9,323.34 points, up 1.12%, and has not broken through the peak reached on November 17 last year.
Sector Performance
▪ The retail sector fluctuated during the session, with overall performance driven by a strong rise in Alibaba, which rose 3.37% with a turnover of HKD 12.957 billion, boosting sector sentiment; JD.com rose 1.88%, steadily strengthening, but Miniso fell 1.15%, showing clear differentiation during the session. Capital inflow is concentrated in high-certainty leaders, while the performance of individual stocks in the segment is diverging, indicating a continued structural preference among investors.
▪ The internet content and information sector showed mixed performance during the session. Tencent Holdings rose 1.12% with a turnover of HKD 5.219 billion, maintaining active capital and investor confidence. Kuaishou-W closed flat during the session, although the turnover reached HKD 2.147 billion, indicating decent capital attention. Baidu-SW fell 1.11%, although it had previously seen a significant rise driven by the Nasdaq Golden Dragon China Index, it retraced gains during the session, showing increasing divergence within the sector and volatility in short-term investor sentiment.
▪ The hardware, storage, and peripherals sector continued to consolidate. Xiaomi Group-W slightly fell 0.10%, with a turnover of HKD 3.121 billion, indicating a strong wait-and-see sentiment in the market, with no significant increase in capital. Lenovo Group and Lenovo Holdings rose 0.78% and 0.54%, respectively, but overall capital distribution in the sector is diverging, with structural opportunities still dominating.
Macroeconomic Background
▪ Recently, key macro data for the Hong Kong stock market has not been released. Investors are closely watching the upcoming releases of foreign exchange reserves, GDP growth rate, consumption, and export economic indicators. These macro factors may significantly impact the subsequent trends and market confidence of Hong Kong stocks, and the intensified liquidity and structural rotation during the session also partly reflect the market's sensitivity to uncertainty.
Popular Stocks
▪ Ark Health (6086.HK) rose 25.32% during the session, with a turnover of HKD 14.7 million, showing a high turnover rate, with no significant company news, indicating highly active short-term capital, making it the most speculated stock in today's market.
▪ Lion Rock Holdings (2562.HK) rose 11.91%, with a turnover of HKD 32.4 million, as capital chased high-volatility varieties, but there is no data-driven support, indicating a strong short-term speculative atmosphere.
▪ Haotian International Construction Investment (1341.HK) rose 14.29%, with a turnover of HKD 73.2068 million, with active capital during the session and a noticeable increase in attention, but no company-level news has been released
▪ Hejia Holdings (704.HK) surged 66.15% during the session, with a transaction volume of HKD 2.506 million, belonging to the active speculative range of the local market, with no significant fundamental news, indicating notable short-term speculation.
Market Transaction Volume TOP10
▪ Alibaba -W (9988.HK) latest transaction price HKD 159.60, increase of 3.43%, transaction volume HKD 12.93 billion
▪ Tencent Holdings (700.HK) latest transaction price HKD 630.00, increase of 1.12%, transaction volume HKD 5.21 billion
▪ Xiaomi Group -W (1810.HK) latest transaction price HKD 38.70, decrease of 0.10%, transaction volume HKD 3.11 billion
▪ Meituan -W (3690.HK) latest transaction price HKD 104.60, decrease of 0.38%, transaction volume HKD 2.32 billion
▪ Kuaishou -W (1024.HK) latest transaction price HKD 80.35, increase of 0.12%, transaction volume HKD 2.13 billion
▪ SMIC (981.HK) latest transaction price HKD 74.75, decrease of 0.73%, transaction volume HKD 2.11 billion
▪ BYD Company (1211.HK) latest transaction price HKD 99.20, increase of 3.66%, transaction volume HKD 1.92 billion
▪ Jingtai Holdings (2228.HK) latest transaction price HKD 13.84, increase of 6.87%, transaction volume HKD 1.57 billion
▪ Ping An Insurance (2318.HK) latest transaction price HKD 70.10, increase of 2.34%, transaction volume HKD 1.46 billion
▪ Goldwind Technology (2208.HK) latest transaction price HKD 15.83, decrease of 8.60%, transaction volume HKD 1.42 billion

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In the Hong Kong stock market, all three major indices rebounded, with the Hang Seng Index rising by 1.3%, the Hang Seng TECH Index increasing by 0.83%, and the National Enterprises Index up by 1.12%. Retailers and internet content sectors showed mixed performance, with Alibaba surging by 3.37% and standing out, while Tencent Holdings rose by 1.12%, improving market sentiment. Xiaomi Group slightly declined, and the hardware sector remained volatile. During the session, funds focused on leading stocks and active stocks, with market hotspots concentrated in retail, internet, and specific themes. Investors are paying attention to the impact of upcoming key macroeconomic data on market trends

- The Hong Kong stock market shows a continued rebound with the Hang Seng Index at 26,955.15 points, up 1.3%. 
- Retail and technology sectors have displayed mixed performances, highlighted by Alibaba's strong gain of 3.37%, while other stocks like MINISO declined. 
- Investors are closely monitoring upcoming macroeconomic data that may significantly influence market sentiment and liquidity.

Market Pulse

BABA-W

JD-SW

MNSO

TENCENT

KUAISHOU-W

BIDU-SW

XIAOMI-W

LENOVO GROUP

LEGENDHOLDING

FANGZHOU JIANKE

SYNAGISTICS

HAO TIAN INTL

HUSCOKE HLDGS

MEITUAN

Alibaba

Tencent

Tencent Holdings Limited

Hang Seng TECH Index

Hong Kong stock market intraday | The Hang Seng Index rose 1.3% maintaining its rebound, Alibaba led the retail sector, and popular stocks Ark and Jianke rose over 25%