Market Overview
▪ On March 5, 2026, the three major indices showed mixed results, with weights stabilizing and technology under pressure. Overall sentiment is neutral to cautious, with short-term attention on whether it can restart upward momentum and break through this week's previous highs.
▪ The Hang Seng Index closed up 0.28%, at 25,321.34 points; it did not refresh the recent high.
▪ The Hang Seng Tech Index closed down 0.69%, at 4,796.33 points; it has retreated from its recent high.
▪ The China Enterprises Index closed down 0.38%, at 8,451.43 points; it did not reach the recent high of February 23.
Sector Performance
▪ The internet content and information sector had a lackluster performance, showing fluctuations and divergence. Tencent Holdings fell by 0.79%, with a transaction volume of HKD 12.164 billion; Baidu -SW rose by 0.78%, and Kuaishou -W rose by 0.08%. Under pressure from weights, trading remained active, with capital risk appetite becoming cautious, intensifying short-term speculation.
▪ The oil and gas exploration and production sector weakened, with overall weakness under the pressure of fluctuating oil prices. China National Offshore Oil Corporation fell by 0.81%, with a transaction volume of HKD 5.895 billion, indicating pressure on sentiment for weighted energy stocks; United Energy Group fell by 7.50%, with a transaction volume of HKD 461 million; Zhonggang Petroleum fell by 11.70%.
Macroeconomic Background
▪ In the past month, key indicators to focus on include foreign reserves, retail, exports, trade balance, unemployment rate, PMI, CPI, and M3. The rhythm of related data will affect risk appetite and sector rotation.
▪ Under the linked exchange rate framework, attention should be paid to interest rates and liquidity, mainland consumers and consumption, foreign trade and re-exports, moderate inflation and stable employment, with capital favoring structural opportunities in domestic demand, travel, and sensitive stocks.
Popular Stocks
▪ Weichai Power (2338.HK) closed up 5.45%, with a transaction volume of HKD 825 million. No recent news; it had a significant increase for the day, with transaction volume at a high level, reflecting active trading.
▪ BeiGene (6160.HK) closed up 1.49%, with a transaction volume of HKD 863 million. No recent news; the stock price slightly strengthened with market fluctuations, maintaining active transaction volume.
▪ Jiexin International Resources (3858.HK) closed up 7.54%, with a transaction volume of HKD 701 million. On March 4, 2026, the non-ferrous energy sector led the gains, with Jiexin International Resources rising over 7%, driven by improved capital flow in the industry, boosting sentiment. Against this backdrop, the stock continued to rise with increased volume today.
▪ Yanzhou Coal Mining (1171.HK) closed up 0.07%, with a transaction volume of HKD 856 million. On March 4, 2026, the coal sector collectively fell at the opening, with many stocks in the A-share market hitting the limit down; A-share coal stocks rebounded in the afternoon, with increased volatility indicating uncertainty in price and policy expectations. The stock slightly rose today, with stable trading.
▪ Horizon Robotics -W (9660.HK) closed down 0.26%, with a transaction volume of HKD 885 million. No recent news; it experienced a narrow pullback under high turnover, with sentiment primarily cautious
Market Trading Volume TOP10
▪ Alibaba -W (09988.HK) Latest trading price 126.30 HKD, decline 2.77%, trading volume 18.111 billion
▪ Tencent Holdings (00700.HK) Latest trading price 502.00 HKD, decline 0.79%, trading volume 12.164 billion
▪ China National Offshore Oil Corporation (00883.HK) Latest trading price 26.86 HKD, decline 0.81%, trading volume 5.895 billion
▪ Shandong Molong Petroleum Machinery (00568.HK) Latest trading price 8.70 HKD, decline 15.29%, trading volume 5.608 billion
▪ Xiaomi Group -W (01810.HK) Latest trading price 32.20 HKD, increase 0.63%, trading volume 4.362 billion
▪ BYD Company (01211.HK) Latest trading price 92.60 HKD, decline 2.58%, trading volume 3.540 billion
▪ China Resources Gas (01635.HK) Latest trading price 4.00 HKD, increase 2.04%, trading volume 3.528 billion
▪ HSBC Holdings (00005.HK) Latest trading price 133.90 HKD, increase 2.37%, trading volume 3.521 billion
▪ AIA Group (01299.HK) Latest trading price 85.10 HKD, increase 5.06%, trading volume 3.480 billion
▪ Meituan -W (03690.HK) Latest trading price 74.50 HKD, decline 1.19%, trading volume 3.321 billion

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Hong Kong stocks closed mixed: the Hang Seng Index rose 0.28% to 25,321.34, the Tech Index fell 0.69% to 4,796.33, and the National Enterprises Index fell 0.38% to 8,451.43. The technology internet and energy sectors weakened, with Alibaba down 2.77% and Tencent down 0.79%, dragging the market; the top trading volumes were Alibaba at HKD 1,811,139.75 thousand, Tencent at HKD 1,216,376.63 thousand, and China National Offshore Oil Corporation at HKD 589,461.73 thousand, with overall sentiment being neutral to cautious

- On March 5, 2026, the three major indices showed mixed results, with a cautious market sentiment and short-term focus on overcoming earlier highs. 
- The Hang Seng Index closed up by 0.28% at 25,321.34 points, while the Hang Seng Tech Index fell by 0.69% to 4,796.33 points, reflecting a pullback from previous highs. 
- Key sectors like oil and gas faced pressure, and major stocks such as Alibaba and Tencent experienced declines, emphasizing an increase in cautious market behavior.

Market Heartbeat

BABA-W

JD-SW

MNSO

TENCENT

KUAISHOU-W

BIDU-SW

CNOOC

UNITEDENERGY GP

CHK OIL

GIGADEVICE

INNOVENT BIO

JIAXIN INTL RES

COSCO SHIP HOLD

Hong Kong Stock Market Closing | Hang Seng Index rose 0.28%, Tech Index fell 0.69%, AIA Group rose 5.06%