Market Overview
▪ The three major indices of the Hong Kong stock market closed lower today, with the overall market adjusting after high-level fluctuations.
▪ The Hang Seng Index closed at 26,559.95 points, down 1.21%.
▪ The Hang Seng Tech Index closed at 5,346.2 points, down 1.11%.
▪ The National Enterprises Index closed at 9,031.38 points, down 0.68%.
Sector Performance
▪ The internet content and information sector generally declined today, affected by market risk aversion, leading to a decrease in investor risk appetite. Leading stock Tencent Holdings fell 1.97%, closing at HKD 547.5, with a total trading volume of HKD 19.472 billion. Within the sector, Baidu -SW fell 2.20%, Kuaishou -W fell 2.40%, and leading stocks generally corrected, with funds flowing out against the trend, lacking any significant catalytic events.
▪ The retail sector faced pressure overall, with insufficient consumer confidence continuing to drag down performance. Alibaba -W fell 2.88%, closing at HKD 155.00, with a trading volume of HKD 12.099 billion; JD -SW fell 1.75%, Miniso fell 4.42%, as market demand expectations for the sector weakened in the short term, with funds leaning towards a wait-and-see approach.
▪ The life and health insurance sector weakened overall, primarily due to a decline in risk appetite among funds, with a heightened wait-and-see attitude from risk-averse capital. AIA Group fell sharply by 5.54%, closing at HKD 83.50, with a trading volume of HKD 4.754 billion; Ping An Insurance fell 2.18%, China Life fell 1.46%, with the industry overall under pressure and significant fund outflows from the sector.
Macroeconomic Background
▪ Recently, the Hong Kong stock market has been influenced by macroeconomic data performance, with investors closely monitoring retail and export performance, manufacturing PMI, and unemployment rate changes. External economic fluctuations and liquidity adjustments pose funding pressure on the Hong Kong stock market, with market sentiment continuing to fluctuate. Short-term strategies dominate fund inflows and outflows, and the differentiation of core assets is the first to reflect price reactions to macro expectations.
Popular Stocks
▪ Long Resources (1712.HK) rose 45.68%, with a trading volume of HKD 157 million. The company benefited from the sharp rise in global gold and non-ferrous metal prices earlier, with an expected after-tax net profit growth of 3.5 to 3.8 times year-on-year by 2025. Recently, gold resource companies have shown significant volatility, with concentrated fund inflows and increased market activity, driven mainly by short-term momentum, requiring attention to the subsequent impact of gold price changes on company valuations.
▪ Southern Communications (1617.HK) surged 61.29% today, with a trading volume of HKD 41.3842 million. As of now, there is no latest authoritative news; funds are driven by concept chasing and short-term sentiment, resulting in significant short-term gains and extremely active trading.
▪ Jinshi Holdings Group (1943.HK) rose 42.86%, with a trading volume of HKD 22.4149 million. No authoritative news has been disclosed, but funds accelerated inflows during the session, with notable stock price volatility and clear signs of short-term speculation.
▪ CMON (1792.HK) rose 31.30%, with a trading volume of HKD 28.9988 million. Recently, the company signed a second supplementary agreement regarding the placement of shares, revising the placement price from HKD 0.80 to no less than HKD 0.95 per share, with an expected net fundraising amount of up to approximately HKD 9.4 million, intended to be fully used for general working capital
In terms of business, the launch of tabletop games adapted from anime licensing has received widespread media attention, and the expansion of similar licensed businesses has driven performance expectations.
▪ Putian Communication Group (1720.HK) rose by 32.32%, with a transaction volume of HKD 6.4367 million. There has been no public news recently to stimulate this, and market funds are focused on short-term fluctuations, resulting in a strong continuous performance of the stock price.
Market Transaction Volume TOP10
▪ Tencent Holdings (00700.HK) latest transaction price HKD 547.50, down 1.97%, transaction volume HKD 19.472 billion
▪ Alibaba -W (09988.HK) latest transaction price HKD 155.00, down 2.88%, transaction volume HKD 12.099 billion
▪ AIA Group (01299.HK) latest transaction price HKD 83.50, down 5.54%, transaction volume HKD 4.754 billion
▪ Xiaomi Group -W (01810.HK) latest transaction price HKD 35.18, up 0.74%, transaction volume HKD 4.717 billion
▪ Meituan -W (03690.HK) latest transaction price HKD 91.40, down 2.56%, transaction volume HKD 3.613 billion
▪ SMIC (00981.HK) latest transaction price HKD 67.60, up 0.22%, transaction volume HKD 3.596 billion
▪ Pop Mart (09992.HK) latest transaction price HKD 243.20, up 0.33%, transaction volume HKD 3.353 billion
▪ Yangtze Optical Fibre and Cable (06869.HK) latest transaction price HKD 90.80, up 4.97%, transaction volume HKD 3.178 billion
▪ Hong Kong Stock Exchange (00388.HK) latest transaction price HKD 407.60, down 1.64%, transaction volume HKD 3.026 billion
▪ Zijin Mining (02899.HK) latest transaction price HKD 39.10, down 1.41%, transaction volume HKD 2.693 billion

Today, the Hong Kong stock market closed with all three major indices retreating. The Hang Seng Index fell by 1.21%, the Hang Seng Tech Index dropped by 1.11%, and the National Enterprises Index decreased by 0.68%. The overall market experienced a high-level correction, with key sectors such as internet, retail, and insurance generally weakening. Core stocks like Tencent Holdings, Alibaba -W, and AIA Group saw significant declines, reflecting rising risk aversion and weak consumer confidence. Market hotspots were concentrated in small-cap stocks like Southern Communications and Long Resources, which experienced significant fluctuations and active trading. External macro variables and liquidity expectations continue to impact the capital situation of Hong Kong stocks, leading to short-term market sentiment fluctuations

- Hong Kong's three major stock indices closed lower today, with the Hang Seng Index at 26,559.95 points, down 1.21%.  
- The market's decline is attributed to decreased investor risk appetite, impacting sectors such as internet content and retail, with major players like Tencent and Alibaba experiencing significant drops.  
- Recent macroeconomic data on retail and export performances continue to influence investor sentiment amid ongoing market volatility.

Market Heartbeat

TENCENT

BIDU-SW

KUAISHOU-W

BABA-W

JD-SW

MNSO

PING AN

CHINA LIFE

DRAGON MINING

NANFANG COMM

KING'S STONE

CMON

PUTIAN COMM

XIAOMI-W

MEITUAN

Hong Kong Stock Market Closing | Hang Seng Index Pulls Back, Small-Cap Stocks like Southern Communications Surge, Internet and Insurance Sectors Lead Decline