Market Overview
▪ The three major indices of the Hong Kong stock market showed mixed performance at noon. As of noon, the Hang Seng Index reported 26,830.23 points, up 0.2%, failing to continue the phase's new high set last week, and overall still operating in a recent high range;
▪ The Hang Seng Tech Index closed at 5,453.46 points at noon, down 1.32%, with short-term pressure evident;
▪ The China Enterprises Index closed at 9,060.38 points at noon, down 0.22%, with short-term volatility easing.
Sector Performance
▪ The internet content and information sector fell during the session. Tencent Holdings dropped 3.09%, with a turnover of HKD 25.947 billion, KUAISHOU-W fell 4.35%, with a turnover of HKD 3.249 billion, and BIDU-SW dropped 3.50%, reflecting the market's lack of incremental positive news for the internet sector in the short term, with mainstream funds significantly flowing out and investor risk appetite declining.
▪ The retail sector showed divergence, with funds flowing within the sector. Alibaba-W fell 1.78%, with a turnover of HKD 11.272 billion, JD-SW slightly fell 0.45%, while MNSO rose 1.60%. Mainstream leaders faced pressure, while some niche leaders were favored by funds, indicating limited structural opportunities in the sector.
Macroeconomic Background
▪ The Hong Kong stock market has recently been constrained by external capital flows and fluctuations in export performance, with investors focusing on macroeconomic data and consumer confidence's impact on corporate profits. The liquidity of the Hong Kong dollar, retail, and export data have become key indicators for measuring economic recovery and market activity, with the overall market currently maintaining a cautious wait-and-see attitude.
Popular Stocks
▪ FANGZHOU JIANKE (6086.HK) rose 16.08% during the session, with a turnover of HKD 275 million. The stock price surged at a high level, with funds chasing innovative medical niche targets, and short-term active funds pouring in, increasing industry attention.
▪ DRINDA (2865.HK) rose 12.95%, with a turnover of HKD 1.004 billion. Continuous fund inflow benefited from the market's preference for high-growth attribute companies.
▪ MINIMAX-WP (100.HK) rose 12.89%, with a turnover of HKD 734 million. Recently, it was reported that two AI chip design companies in China launched IPOs simultaneously in Hong Kong, highlighting the capitalization process of the technology industry and self-innovation drive. The listing of large AI chip companies strengthened sector sentiment, with funds gathering in AI and technology concepts.
▪ INSILICO (3696.HK) rose 12.37%, with a turnover of HKD 112 million. The domestic AI companies were approved to purchase Nvidia H200 AI chips, which is a favorable policy, and the sector's innovation-driven effect continues to be released, with market expectations for the industry to welcome turbulent growth opportunities.
▪ CIMC (2039.HK) rose 14.40%, with a turnover of HKD 72.491 million. Short-term funds significantly pushed the stock price up, with market enthusiasm noticeably increasing.
Market Turnover TOP10
▪ TENCENT (00700.HK) latest transaction price HKD 580.00, down 3.09%, transaction amount HKD 25.981 billion
▪ Alibaba -W (09988.HK) latest transaction price HKD 160.40, down 1.78%, transaction amount HKD 11.928 billion
▪ KUAISHOU -W (01024.HK) latest transaction price HKD 73.65, down 4.35%, transaction amount HKD 3.486 billion
▪ SMIC (00981.HK) latest transaction price HKD 71.55, down 0.90%, transaction amount HKD 3.143 billion
▪ MEITUAN -W (03690.HK) latest transaction price HKD 93.25, down 1.69%, transaction amount HKD 2.894 billion
▪ Zijin Mining (02899.HK) latest transaction price HKD 40.36, up 2.02%, transaction amount HKD 2.520 billion
▪ Xiaomi Group -W (01810.HK) latest transaction price HKD 34.66, down 1.14%, transaction amount HKD 2.214 billion
▪ Hua Hong Semiconductor (01347.HK) latest transaction price HKD 106.00, up 2.51%, transaction amount HKD 1.916 billion
▪ Changfei Optical Fiber and Cable (06869.HK) latest transaction price HKD 85.75, up 1.36%, transaction amount HKD 1.913 billion
▪ Pop Mart (09992.HK) latest transaction price HKD 233.40, up 3.09%, transaction amount HKD 1.904 billion

The Hong Kong stock market showed a mixed performance at midday, with the Hang Seng Index slightly up by 0.2%, while the Technology and State-Owned Enterprise indices retreated, reflecting the continuation of a high-level oscillation pattern. The internet content sector declined during the session. The retail sector was mixed, with Alibaba -W down by 1.78%. The AI and innovative technology sectors were highlighted, with stocks like FANGZHOU JIANKE and MINIMAX-WP surging during the session, indicating a clear rotation in the market structure. At the macro level, fluctuations in external capital and consumer confidence remain the core variables of concern for the market

- The Hong Kong stock market showed mixed performance, with the Hang Seng Index slightly up at 26,830.23 points, while the Hang Seng Tech Index fell by 1.32% to 5,453.46 points.  
- Major internet companies like Tencent, Kuaishou, and Baidu experienced declines, indicating market skepticism in the sector, while retail stocks saw internal fund movements despite some varied performances.  
- Several stocks, including Ark Health and Jun Da, surged due to increased investor interest in high-growth companies, highlighting the ongoing focus on innovation in the AI and technology sectors.

Market Heartbeat

MINIMAX-WP

CIMC

INSILICO

DRINDA

FANGZHOU JIANKE

TENCENT

KUAISHOU-W

BIDU-SW

Alibaba

JD-SW

MNSO

SMIC

MEITUAN

Hang Seng Index

Hong Kong Stock Midday Review | The Hang Seng Index slightly rises during the session, with active Internet and AI concepts; FANGZHOU JIANKE rises over 16%