--- title: "Hong Kong Stock Market Update | The Hang Seng Index falls below 25,000 points, while the oil and gas sector rises against the trend by over 6%" type: "News" locale: "en" url: "https://longbridge.com/en/news/278310675.md" description: "On March 9th, during intraday trading of Hong Kong stocks, the three major indices collectively fell, with the Hang Seng Index dropping over 3.1% and falling below the key level of 25,000 points. Overall market sentiment was weak, with the internet and retail sectors leading the decline, and core stocks such as Alibaba and Baidu showing significant losses. In stark contrast, the oil and gas exploration sector surged across the board, with CNOOC rising over 6%, and many industry stocks recording significant gains, indicating a clear intention for capital to seek safety" datetime: "2026-03-09T02:33:02.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/278310675.md) - [en](https://longbridge.com/en/news/278310675.md) - [zh-HK](https://longbridge.com/zh-HK/news/278310675.md) --- > Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/278310675.md) | [繁體中文](https://longbridge.com/zh-HK/news/278310675.md) # Hong Kong Stock Market Update | The Hang Seng Index falls below 25,000 points, while the oil and gas sector rises against the trend by over 6% **Market Overview** ▪ As of March 9, during the trading session: Currently, the three major indices have collectively declined, facing resistance at previous highs, with sentiment being weak. ▪ The Hang Seng Index fell 3.13% to 24,950.56 points, falling below 25,000 points and failing to break through the March 6 peak, facing short-term pressure. ▪ The Hang Seng Tech Index dropped 3.02% to 4,797.99 points, failing to refresh the March 6 peak, and last Friday's high performance could not be sustained. ▪ The China Enterprises Index decreased by 2.40% to 8,420.99 points, retreating from the March 6 peak, with the weak oscillation pattern unchanged. ▪ Overall, the previous high was not broken, and risk appetite has cooled; attention will be paid to the pressure and volume changes near the March 6 peak. **Sector Performance** ▪ The oil and gas exploration and production sector rose significantly against the trend, attracting keen market capital. CNOOC rose by 6.46%, and United Energy Group surged by 18.29%, with a transaction volume of 418 million. This indicates that in market fluctuations, defensive assets in the resource sector have received significant inflows of risk-averse capital. ▪ The internet content and information industry overall declined, with leading stocks generally under pressure. Baidu -SW fell by 5.36%, Tencent Holdings dropped by 2.79%, and although the transaction volume of tech stocks was large, selling pressure was heavy, reflecting the current investors' wait-and-see attitude towards growth stocks. ▪ The retail sector continued to weaken, with most leading companies in the sector showing sluggish stock price trends. Alibaba -W fell by 3.98%, JD.com -SW dropped by 2.25%, and the consumer sector performed weakly under macroeconomic uncertainty. **Macroeconomic Background** ▪ Recently, there has been limited update on macro data in the Hong Kong stock market, and investors need to pay attention to changes in the external environment and policy dynamics. ▪ The risk of fluctuations in the global macro environment still needs to be vigilant, which exerts pressure on market liquidity and economic trends. In the context of unclear macro backgrounds, overall market risk appetite has significantly declined. **Popular Stocks** ▪ Mengniu Dairy (2319.HK) rose by 0.06%, with a transaction volume of HKD 456 million. As a consumer blue chip, it showed strong resilience in a declining market. ▪ Kingsoft Cloud (3896.HK) increased by 2.64%, with a transaction volume of HKD 450 million. Against the backdrop of a general decline in the tech sector, this stock recorded an increase, attracting some short-term capital attention. ▪ CNOOC Services (2883.HK) rose by 3.33%, with a transaction volume of HKD 437 million. Following the overall strong logic of the oil and gas sector, it was boosted by industry capital. ▪ United Energy Group (467.HK) surged by 18.29%, with a transaction volume of HKD 408 million. The stock price experienced a pulse-like increase, with active trading, becoming the focus of resource stocks during the session. ▪ Baidu -SW (9888.HK) fell by 5.36%, with a transaction volume of HKD 478 million. Affected by the overall valuation correction in the industry, the stock price faced significant short-term pressure. **Market Transaction Volume TOP10** ▪ Tencent Holdings (00700.HK) latest transaction price 504.5 HKD, decline 2.79%, transaction amount 6.323 billion ▪ CNOOC (00883.HK) latest transaction price 28.34 HKD, increase 6.46%, transaction amount 6.210 billion ▪ Alibaba -W (09988.HK) latest transaction price 125.5 HKD, decline 3.98%, transaction amount 5.311 billion ▪ HSBC Holdings (00005.HK) latest transaction price 128.7 HKD, decline 4.81%, transaction amount 4.551 billion ▪ Shandong Molong (00568.HK) latest transaction price 14.39 HKD, increase 73.37%, transaction amount 3.877 billion ▪ Yangtze Optical Fibre and Cable (06869.HK) latest transaction price 124.9 HKD, decline 9.82%, transaction amount 2.330 billion ▪ PetroChina Company Limited (00857.HK) latest transaction price 10.93 HKD, increase 5.10%, transaction amount 2.252 billion ▪ BYD Company Limited (01211.HK) latest transaction price 94.25 HKD, decline 0.48%, transaction amount 2.021 billion ▪ Xiaomi Group -W (01810.HK) latest transaction price 32.84 HKD, decline 1.74%, transaction amount 1.972 billion ▪ Pop Mart (09992.HK) latest transaction price 194.8 HKD, decline 6.08%, transaction amount 1.636 billion ### Related Stocks - [CNOOC (00883.HK)](https://longbridge.com/en/quote/00883.HK.md) - [UNITEDENERGY GP (00467.HK)](https://longbridge.com/en/quote/00467.HK.md) - [BIDU-SW (09888.HK)](https://longbridge.com/en/quote/09888.HK.md) - [TENCENT (00700.HK)](https://longbridge.com/en/quote/00700.HK.md) - [BABA-W (09988.HK)](https://longbridge.com/en/quote/09988.HK.md) - [MENGNIU DAIRY (02319.HK)](https://longbridge.com/en/quote/02319.HK.md) - [JD-SW (09618.HK)](https://longbridge.com/en/quote/09618.HK.md) - [KINGSOFT CLOUD (03896.HK)](https://longbridge.com/en/quote/03896.HK.md) - [CHINA OILFIELD (02883.HK)](https://longbridge.com/en/quote/02883.HK.md) - [HSBC HOLDINGS (00005.HK)](https://longbridge.com/en/quote/00005.HK.md) - [CNOOC F03 N3305 (02568.HK)](https://longbridge.com/en/quote/02568.HK.md) - [CNOOC F13 N2909 (40015.HK)](https://longbridge.com/en/quote/40015.HK.md) - [CNOOC (600938.CN)](https://longbridge.com/en/quote/600938.CN.md) ## Related News & Research - [Alibaba forms task force to boost AI development after Qwen chief's exit](https://longbridge.com/en/news/277877051.md) - [CNOOC's Actual Controller Boosts Shareholding](https://longbridge.com/en/news/277784378.md) - [CNOOC Says Unaware of Reason for Share Price Movement](https://longbridge.com/en/news/277741273.md) - [HSBC CEO says bank remains committed to GCC region amid Iran conflict](https://longbridge.com/en/news/278417687.md) - [Alibaba, Bytedance And Tencent Are Turning To Domestic Chipmakers To Ease The Pain From A Deepening Global Shortage Of Memory Chips - The Information](https://longbridge.com/en/news/277949529.md)