--- title: "Hong Kong stocks closed｜Three major indices fell, technology sector under pressure, POP MART rose 9.07% against the trend" type: "News" locale: "en" url: "https://longbridge.com/en/news/273049966.md" description: "On January 20th, Hong Kong stocks closed lower, with all three major indices retreating. The Hang Seng Index fell by 0.29%, and the Hang Seng TECH Index's decline widened to 1.16%, reflecting short-term pressure on the technology sector. Market hotspots showed divergence, with significant differentiation among leading stocks; growth-oriented technology stocks faced pressure, while some stocks in the consumer and pharmaceutical sectors performed strongly. In terms of popular stocks, POP MART rose against the trend by 9.07%, indicating opportunities for differentiation in the consumer sector. The overall market adjustment pattern continued, with short-term sentiment being cautious and funds focusing on structural themes and performance-driven stocks" datetime: "2026-01-20T08:13:02.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/273049966.md) - [en](https://longbridge.com/en/news/273049966.md) - [zh-HK](https://longbridge.com/zh-HK/news/273049966.md) --- # Hong Kong stocks closed｜Three major indices fell, technology sector under pressure, POP MART rose 9.07% against the trend **Market Overview** ▪ On January 20, the three major indices of the Hong Kong stock market closed generally lower, with market hotspots diverging, continuing the overall adjustment trend. ▪ The Hang Seng Index closed at 26,487.51 points today, down 0.29%, failing to refresh the recent high, and still some distance from the recent high set on January 16. ▪ The Hang Seng TECH Index closed at 5,683.44 points, with a decline of 1.16%, also failing to break through yesterday's high, underperforming the broader market, and the technology sector is under short-term pressure. ▪ The Hang Seng China Enterprises Index closed at 9,094.76 points, down 0.43%, not reaching a new high, still hovering below yesterday's rebound high. **Sector Performance** ▪ The technology sector is under short-term pressure, with the Hang Seng TECH Index's decline expanding to 1.16%, showing significant internal divergence. Major technology leaders generally retreated, with Tencent Holdings down 1.48%, Xiaomi Group down 2.74%, and SMIC down 3.25%, reflecting a decrease in risk appetite among investors, leading to increased outflow pressure within the sector. ▪ Meanwhile, some stocks in the consumer and pharmaceutical sectors showed certain anti-dip attributes. POP MART rose 9.07%, with a transaction volume of HKD 5.879 billion, indicating a clear preference for consumption upgrades and emerging consumption themes. China Life Insurance rose 4.31%, showing increased investor attention on large-cap stable stocks. ▪ Sector hotspots further diverged, with a clear structural flow of market funds, maintaining a high focus on performance-driven and growth-oriented directions, but overall trading sentiment remains cautious. **Macroeconomic Background** ▪ The Hong Kong stock market has recently focused on economic growth and the momentum of consumption recovery. On the macro data front, retail, trade, and PMI indicators are closely monitored by investors, with increased volatility in the external environment prompting funds to pay more attention to short-term trends and policy orientations, directly affecting market sentiment and mainstream sector performance. **Popular Stocks** ▪ Da Health International (2211.HK) rose 181.40%, with a transaction volume of HKD 12.2997 million. Currently, there is no significant news disclosed. ▪ Easy Communications Group (8031.HK) rose 112.31%, with a transaction volume of HKD 8.4273 million. On January 20, the company announced that trading would resume from 9 AM that morning, which helps enhance liquidity and restore investor attention. The resumption of trading indicates that the company has resolved key regulatory issues such as information disclosure, and short-term trading volatility may increase. ▪ Xi Xiang Feng Group (2473.HK) rose 20.48%, with a transaction volume of HKD 519 million. On January 12, its indirectly wholly-owned subsidiary, Xiyun Di Kong (Fujian) Technology Co., Ltd., signed a memorandum of understanding with Xiamen Kuangshi Technology Co., Ltd. to acquire 51% of Kuangshi Technology's equity through equity acquisition or capital increase. ▪ Shumeng Capital (8375.HK) rose 39.49%, with a transaction volume of HKD 6.0994 million. Currently, there is no significant news disclosed, and short-term speculative trading is evident. ▪ Shenghui Clean (2521.HK) rose 18.57%, with a transaction volume of HKD 27.7498 million. On January 18, the Shanghai Stock Exchange sent an inquiry letter to Huali Industrial, focusing on the rationality and internal control arrangements of its acquisition of a 19% stake in Shenghui Clean, which triggered short-term stock price fluctuations Regulatory attention helps ensure fair and transparent trading, which may bring volatility in the short term but is expected to optimize corporate governance in the long term. **Market Trading Volume TOP10** ▪ Tencent Holdings (00700.HK) Latest trading price HKD 601.00, down 1.48%, trading volume HKD 14.638 billion ▪ Alibaba -W (09988.HK) Latest trading price HKD 159.70, down 0.44%, trading volume HKD 8.868 billion ▪ Xiaomi Group -W (01810.HK) Latest trading price HKD 35.48, down 2.74%, trading volume HKD 8.045 billion ▪ POP MART (09992.HK) Latest trading price HKD 197.20, up 9.07%, trading volume HKD 5.879 billion ▪ SMIC (00981.HK) Latest trading price HKD 74.50, down 3.25%, trading volume HKD 4.931 billion ▪ Meituan -W (03690.HK) Latest trading price HKD 97.35, down 1.17%, trading volume HKD 4.440 billion ▪ China Life (02628.HK) Latest trading price HKD 33.40, up 4.31%, trading volume HKD 3.005 billion ▪ Baidu -SW (09888.HK) Latest trading price HKD 148.80, up 0.95%, trading volume HKD 2.970 billion ▪ Hua Hong Semiconductor (01347.HK) Latest trading price HKD 100.60, down 1.95%, trading volume HKD 2.960 billion ▪ Trip.com Group -S (09961.HK) Latest trading price HKD 480.40, up 2.13%, trading volume HKD 2.871 billion ### Related Stocks - [09992.HK](https://longbridge.com/en/quote/09992.HK.md) - [00700.HK](https://longbridge.com/en/quote/00700.HK.md) - [01810.HK](https://longbridge.com/en/quote/01810.HK.md) - [00981.HK](https://longbridge.com/en/quote/00981.HK.md) - [02211.HK](https://longbridge.com/en/quote/02211.HK.md) - [08031.HK](https://longbridge.com/en/quote/08031.HK.md) - [02628.HK](https://longbridge.com/en/quote/02628.HK.md) - [02473.HK](https://longbridge.com/en/quote/02473.HK.md) - [08375.HK](https://longbridge.com/en/quote/08375.HK.md) - [02521.HK](https://longbridge.com/en/quote/02521.HK.md) - [09988.HK](https://longbridge.com/en/quote/09988.HK.md) - [STECH.HK](https://longbridge.com/en/quote/STECH.HK.md) ## Related News & Research - [China's Pop Mart warns of 2026 profit margin pressure from higher costs](https://longbridge.com/en/news/286185719.md) - [Pop Mart Declares Final 2025 Dividend and Sets HKD Payout Terms](https://longbridge.com/en/news/286254762.md) - [Pop Mart expands IP empire with debut dessert store in Hebei province](https://longbridge.com/en/news/286178772.md) - [Alibaba Files Form 13F as Investment Manager, Highlights WVR Structure](https://longbridge.com/en/news/286686984.md) - [Shenghui Cleanness to Buy 70% of Huali Digital Guangdong in Connected RMB15.75 Million Deal](https://longbridge.com/en/news/286830551.md)