--- title: "Hong Kong Stock Market Closing | The Hang Seng Index fell by 1.44%, the Tech Index plummeted by 2.87%, Alibaba's decline exceeded 3%, and NANFANG COMM surged over 42%" description: "Hong Kong stocks experienced a collective pullback today, with the three major indices retreating after reaching highs. The Hang Seng Index closed down 1.44%, and the Hang Seng Tech Index plummeted 2." type: "news" locale: "en" url: "https://longbridge.com/en/news/277004756.md" published_at: "2026-02-26T08:19:01.000Z" --- # Hong Kong Stock Market Closing | The Hang Seng Index fell by 1.44%, the Tech Index plummeted by 2.87%, Alibaba's decline exceeded 3%, and NANFANG COMM surged over 42% > Hong Kong stocks experienced a collective pullback today, with the three major indices retreating after reaching highs. The Hang Seng Index closed down 1.44%, and the Hang Seng Tech Index plummeted 2.87%. On the market, tech stocks and retail stocks showed weakness, with significant declines in heavyweight stocks like Alibaba and Kuaishou; bank stocks exhibited mixed performance, with HSBC Holdings rising 1.61% against the trend, supporting the market. Funds have not completely withdrawn, as the telecommunications equipment sector was in demand, with NANFANG COMM and MOBI DEV seeing significant price increases. On the macro front, the market is closely monitoring economic data from early 2026 to assess the sustainability of the recovery **Market Overview** Hong Kong stocks closed collectively lower today, with all three major indices showing significant pullbacks after reaching a stage high yesterday, indicating a profit-taking trend in the market. ▪ The Hang Seng Index fell 1.44% to close at 26,381.02 points, temporarily departing from yesterday's high, with bullish sentiment cooling. ▪ The Hang Seng Tech Index led the market decline, closing down 2.87% at 5,109.33 points, significantly giving back yesterday's gains. ▪ The National Enterprises Index also declined, falling 2.44% to 8,814.29 points, revealing pressure from high-level adjustments. **Sector Performance** ▪ The retail sector showed an overall downward trend, with leading retailers experiencing broad declines, reflecting a gloomy market sentiment and overall sector pressure. Alibaba -W (9988.HK) fell 3.57%, with a trading volume of HKD 14.31 billion, indicating heavy selling pressure; Miniso (9896.HK) dropped 5.59%, and JD -SW (9618.HK) fell 2.62%. ▪ The internet content and information sector retreated across the board, with major weighted stocks weakening and the sector performing poorly. Baidu -SW (9888.HK) fell 4.27%, Kuaishou -W (1024.HK) dropped 4.14%, and Tencent Holdings (700.HK) declined 2.01%, as funds chose to exit and observe at high levels. ▪ The diversified banking sector showed mixed trends, supported by HSBC's rise, while domestic bank stocks were relatively weak. HSBC Holdings (5.HK) rose 1.61% against the trend, with a trading volume of HKD 4.394 billion, providing support; meanwhile, China Construction Bank (939.HK) fell 1.6%, and Industrial and Commercial Bank of China (1398.HK) slightly declined by 0.62%. **Macroeconomic Background** ▪ The current market is focused on macro recovery signals expected in early 2026. Investors are closely monitoring Hong Kong's GDP growth rate and overall CPI year-on-year to verify the sustainability of economic recovery. ▪ At the same time, the year-on-year M3 money supply and unemployment rate data have become key indicators for assessing liquidity and domestic demand vitality, which will directly guide the direction of short-term valuation recovery for Hong Kong stocks. **Popular Stocks** ▪ Nanfang Communication (1617.HK) closed up 42.22%, with a trading volume of HKD 81.515 million. This surge in stock price was accompanied by a significant increase in trading volume, indicating that market funds are actively flowing into low-priced telecom stocks for sector rotation speculation. This trend may attract more speculative funds in the short term, but caution is needed regarding the risk of a pullback without fundamental support. ▪ Mobi Development (947.HK) closed up 44.64%, with a trading volume of HKD 11.4482 million. On February 26, 2026, Mobi Development's stock price surged over 44% with increased volume, breaking through the 52-week high, outperforming the market. This surge aligns with the recent trend of capital inflow into the telecom and technology sectors in the Hong Kong stock market, indicating strong demand for catch-up gains. The strong breakout in stock price may trigger technical buying follow-up, helping to improve the company's short-term market value performance. ▪ Putian Communication Group (1720.HK) closed up 32.81%, with a trading volume of HKD 49.71 million. The stock price reached a new 52-week high, with an increase exceeding 30% As a strong stock in the telecommunications sector, this stock has been favored by funds for several consecutive days, driving the activity of the entire Hong Kong telecommunications equipment sector. This sustained upward trend indicates the market's optimistic expectations for industry recovery or specific themes, which is expected to enhance the company's visibility in the capital market. ▪ Jihui Holdings (8027.HK) closed up 19.64%, with a transaction amount of HKD 8,080,000. As a GEM stock, this unusual movement is mainly influenced by the overall speculation atmosphere of low-priced stocks, lacking clear company positive announcements for support. The sharp fluctuations of such low liquidity stocks remind investors to be cautious of the potential liquidity risks brought by high volatility. **Market Transaction Amount TOP10** ▪ Alibaba -W (09988.HK) latest transaction price HKD 143.00, down 3.57%, transaction amount HKD 14.31 billion ▪ Tencent Holdings (00700.HK) latest transaction price HKD 512.00, down 2.01%, transaction amount HKD 13.216 billion ▪ HSBC Holdings (00005.HK) latest transaction price HKD 145.00, up 1.61%, transaction amount HKD 4.394 billion ▪ Xiaomi Group -W (01810.HK) latest transaction price HKD 35.18, down 1.18%, transaction amount HKD 4.356 billion ▪ Ping An of China (02318.HK) latest transaction price HKD 67.85, down 4.64%, transaction amount HKD 4.125 billion ▪ Yangtze Optical Fibre and Cable (06869.HK) latest transaction price HKD 135.20, up 2.97%, transaction amount HKD 4.027 billion ▪ Semiconductor Manufacturing International Corporation (00981.HK) latest transaction price HKD 67.60, down 3.22%, transaction amount HKD 3.887 billion ▪ Hong Kong Exchanges and Clearing (00388.HK) latest transaction price HKD 415.40, up 0.78%, transaction amount HKD 3.437 billion ▪ Meituan -W (03690.HK) latest transaction price HKD 80.45, down 2.72%, transaction amount HKD 3.250 billion ▪ Kuaishou -W (01024.HK) latest transaction price HKD 63.60, down 4.14%, transaction amount HKD 3.091 billion ### Related Stocks - [01617.HK - NANFANG COMM](https://longbridge.com/en/quote/01617.HK.md) - [00005.HK - HSBC HOLDINGS](https://longbridge.com/en/quote/00005.HK.md) - [09618.HK - JD-SW](https://longbridge.com/en/quote/09618.HK.md) - [09988.HK - BABA-W](https://longbridge.com/en/quote/09988.HK.md) - [09896.HK - MNSO](https://longbridge.com/en/quote/09896.HK.md) - [00700.HK - TENCENT](https://longbridge.com/en/quote/00700.HK.md) - [01024.HK - KUAISHOU-W](https://longbridge.com/en/quote/01024.HK.md) - [09888.HK - BIDU-SW](https://longbridge.com/en/quote/09888.HK.md) - [00939.HK - CCB](https://longbridge.com/en/quote/00939.HK.md) - [01398.HK - ICBC](https://longbridge.com/en/quote/01398.HK.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | 阿里云推出低价 AI 编程套餐，集成四大顶级开源模型 | 阿里云推出低价编程工具订阅套餐，集成 Qwen3.5、GLM-5、MiniMax M2.5、Kimi K2.5 四大开源模型 API 服务，旨在争夺开发者市场。轻量版首月售价 7.9 元，专业版首月 39.9 元。此举引发市场关注，尤其是在 | [Link](https://longbridge.com/en/news/276950888.md) | | 从拿牌到筑牌：京东已递交 “保险顾问” 商标 | 京东的香港金融版图，正从合规层面的入场许可，演进至商业层面的品牌蓄力。 据香港知识产权署公开信息，北… | [Link](https://longbridge.com/en/news/276846639.md) | | 元宝 AI 除夕夜辱骂用户，官方道歉：系模型处理多轮对话时异常输出导致 | 腾讯元宝 App 因 AI 在除夕夜生成拜年图片时输出辱骂性内容而引发关注。用户在多次生成指令中遭遇 AI 无故辱骂，官方对此表示歉意，称是模型处理多轮对话时的异常输出，并已进行校正和优化。这并非首次出现类似情况，早前也有用户反馈遭遇侮辱性 | [Link](https://longbridge.com/en/news/276877545.md) | | 港股午评｜恒生科指下挫 1.65%，通信设备股逆市走强，长飞光纤涨 4.65%，阿里巴巴跌 2.09% | 2 月 26 日港股截至午间，三大指数集体示弱，恒指跌 0.39%，恒生科技指数下挫 1.65% 领跌。板块方面，零售与科网股普遍回调，阿里巴巴跌 2.09%，快手跌 2.41%；通信设备板块逆市走强，长飞光纤光缆涨 4.65%，剑桥科技涨 | [Link](https://longbridge.com/en/news/276981405.md) | | 南下广东，重大投资！刘强东官宣：希望能有 10 万元的游艇，让工薪阶层也用得起 | 京东集团创始人刘强东宣布投资 50 亿元创立独立游艇品牌 Sea Expandary，计划在广东布局游艇产业，涵盖研发、制造、销售等全产业链。他希望未来能推出 10 万元的游艇，让工薪阶层也能享受游艇生活。Sea Expandary 将主打 | [Link](https://longbridge.com/en/news/276803704.md) | --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.