Market Overview
▪ On March 13, during the trading session, the three major indices of the Hong Kong stock market retreated, oscillating downwards after a surge yesterday, with short-term sentiment being cautious.
▪ The Hang Seng Index is currently at 25,525.13 points, down 0.75%, and has not refreshed its recent high, which was on March 12, now consolidating below the previous high.
▪ The Hang Seng Tech Index reported 4,998.39 points during the session, down 0.58%, failing to break through the recent high, with momentum somewhat converging.
▪ The China Enterprises Index reported 8,679.59 points during the session, down 0.23%, also not continuing to reach new highs, with a relatively mild retreat.
▪ Overall, the indices are digesting turnover below the previous highs, with subsequent attention on whether volume and external guidance can drive another challenge to the previous highs.
Sector Performance
▪ The internet content and information sector showed mixed performance during the session, with a lack of obvious positive drivers leading to significant differentiation within the sector; some leaders like Tencent rose, but overall momentum was limited.
▪ The retail sector showed notable fluctuations, with mainstream stock Alibaba providing support to the sector, but stocks like Quantitative Strategies saw significant declines, indicating divergent capital flows.
▪ The oil and gas sector exhibited differentiated performance during the session, with oil price fluctuations leading to varied stock performances, as funds sought structural opportunities within the sector.
Macroeconomic Background
▪ Recent focus on the Hong Kong stock market has been highly concentrated on foreign exchange reserves, manufacturing PMI, and GDP data, as these core indicators will provide important references for subsequent economic recovery momentum and domestic and foreign trade performance.
▪ Investors remain highly sensitive to policy expectations and capital flows, with exchange rate fluctuations becoming a key factor affecting intraday performance, as the market adjusts in response to macro data guidance.
Popular Stocks
▪ Yancoal Australia (3668.HK) rose 2.49% during the session, with a transaction volume of HKD 474 million, as energy stocks attracted some safe-haven capital inflow.
▪ Kingsoft Cloud (3896.HK) fell 0.42% during the session, with the latest transaction volume at HKD 471 million.
▪ ZTO Express -W (2057.HK) was active, rising 2.22% during the session, with a transaction volume of HKD 468 million.
▪ WuXi AppTec -B (2617.HK) closed up 2.59% during the session, with a transaction volume of HKD 464 million, as the biopharmaceutical sector showed strength.
▪ Aluminum Corporation of China (2600.HK) faced pressure during the session, falling 2.15%, with a transaction volume of HKD 516 million.
Market Transaction Volume TOP10
▪ Tencent Holdings (00700.HK) latest transaction price HKD 549.5, up 0.55%, transaction volume HKD 7.177 billion
▪ Alibaba -W (09988.HK) latest transaction price HKD 133.4, up 1.37%, transaction volume HKD 4.731 billion
▪ CNOOC (00883.HK) latest transaction price HKD 29.22, up 0.41%, transaction volume HKD 4.325 billion
▪ BRIGHT SMART (01428.HK) latest transaction price HKD 8.97, up 29.62%, transaction volume HKD 2.979 billion
▪ HSBC Holdings (00005.HK) latest transaction price 123.6 HKD, decline 4.11%, transaction amount 2.893 billion
▪ Yangtze Optical Fibre and Cable Joint Stock Limited Company (06869.HK) latest transaction price 159.8 HKD, increase 1.01%, transaction amount 2.535 billion
▪ SenseTime -W (00020.HK) latest transaction price 2.04 HKD, decline 3.32%, transaction amount 2.445 billion
▪ Cathay Pacific Airways (00293.HK) latest transaction price 12.43 HKD, decline 4.31%, transaction amount 2.074 billion
▪ Shandong Molong Petroleum Machinery Company Limited (00568.HK) latest transaction price 10.59 HKD, decline 2.22%, transaction amount 2.017 billion
▪ Xiaomi Group -W (01810.HK) latest transaction price 33.44 HKD, increase 0.42%, transaction amount 2.007 billion

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The three major indices of the Hong Kong stock market have experienced a pullback during the session due to insufficient momentum after a rise, currently fluctuating below the peak before March 12. The internet and retail sectors show divergent trends, with Tencent Holdings and Alibaba performing strongly against the trend, while weighted stocks such as SenseTime and Cathay Pacific Airways are underperforming. Funds are currently closely monitoring macro data guidance, and market sentiment is leaning towards conservatism, with active turnover in popular stocks

- On March 13, Hong Kong's major stock indices experienced a decline, with the Hang Seng Index falling by 0.75% to 25,525.13 points and failing to reach new highs.  
- Key sectors showed mixed performance, particularly in internet content and retail, with Alibaba providing some support amidst volatility.  
- Market focus is on macroeconomic indicators like foreign exchange reserves and manufacturing PMI, key for assessing future economic recovery and trade performance.

Market Heartbeat

BRIGHT SMART

YANCOAL AUS

KINGSOFT CLOUD

ZTO EXPRESS-W

TRANSTHERA-B

CHALCO

BABA-W

TENCENT

Tencent

Tencent Holdings Limited

CATHAY PAC AIR

Hong Kong stocks intraday | Three major indices all fell, Tencent rose 0.55%, BRIGHT SMART soared 29.62%