Market Overview
▪ As of midday (2026-03-30), the three major Hong Kong stock market indices were under pressure and retreated. The early trading session lacked upward momentum, and market sentiment was cautious.
▪ The Hang Seng Index fell 0.93% to 24727.84 points, failing to set a new recent high and pulling back from the high on March 27. It is fluctuating around the previous high in the short term.
▪ The Hang Seng Tech Index fell 1.66% to 4698.51 points, not breaking the recent high of March 27. It is under short-term pressure below the previous high.
▪ The Hang Seng China Enterprises Index fell 0.72% to 8393.31 points, not breaking the recent high of March 27. It is still consolidating below the previous resistance level.
▪ Overall, the three major indices are fluctuating below their previous highs, with funds showing increased caution. Further attention needs to be paid to whether the trading volume can cooperate and to a retest of the previous high. As of press time.
Sector Performance
▪ The Internet Content and Information sector is under general pressure. Leading stock Tencent Holdings fell 2.23% with a turnover of HK$7.822 billion. The company launched a new AI engine and continues to repurchase shares, but funds are observing cautiously amid cautious market sentiment. Kuaishou fell 2.04% with a turnover of HK$1.161 billion. After the annual report release, market concerns about product innovation led to increased sector volatility. Baidu fell 3.41% with a turnover of HK$413 million. Despite increasing its AI investments, it is under short-term pressure dragged down by global market fluctuations.
▪ The Retailers sector showed significant differentiation. POP MART rose against the trend by 2.01% with a turnover of HK$5.248 billion. The strong revenue growth in its annual report and share buyback news drove sector attention, but investment divergence is significant, leading to increased short-term volatility. Chow Tai Fook fell slightly by 0.28% with a turnover of HK$54.2076 million, under pressure from falling gold prices and rating changes. China Tourism Group Duty Free Corporation fell 1.08% with a turnover of HK$46.0332 million. Positive policies offered limited support to the stock price, and funds are observing.
▪ The Electronic Games and Multimedia sector weakened overall. NetEase fell 0.81% with a turnover of HK$314 million. Despite continuous buybacks, it is under pressure from the decline in US tech stocks. Kingsoft Corporation fell 4.13% with a turnover of HK$166 million, experiencing short-term volatility due to management changes and organizational restructuring. XD Inc. fell 0.55% with a turnover of HK$111 million. Although performance increased significantly and buybacks stabilized market sentiment, growth bottlenecks and innovation pressures still exist.
Macroeconomic Background
▪ Recently, the import annual rate of the Hong Kong stock market has become a focus, reflecting increased market sensitivity to trade situations and policy changes. Investors are generally paying attention to changes in macroeconomic data, which affects the short-term flow of funds and risk appetite. Changes in the external economic environment and international capital flows continue to influence the performance of the Hong Kong stock market, with significantly increased short-term volatility.
Hot Stocks
▪ C&amp;C International Resources (3858.HK) rose 6.39% with a turnover of HK$468 million; Chalco Shandong (6693.HK) rose 6.36% with a turnover of HK$466 million; Zhaojin Mining (3939.HK) rose 6.37% with a turnover of HK$396 million. Resource-related stocks performed exceptionally strongly, attracting significant active funds.
▪ Insilico Medicine (3696.HK) rose 4.02% with a turnover of HK$467 million, showing significant individual stock strength.
▪ POP MART (9992.HK) rose against the trend by 2.01%, with the latest trading price at 152.6 HKD and a substantial turnover of HK$5.248 billion, indicating extremely active trading.
▪ Sinopec Corp. (386.HK) fell 1.31% with a turnover of HK$477 million, its trend adjusting in line with the broader market.
▪ Tencent Holdings (700.HK) closed down 2.23%. As a weighted blue-chip stock, it came under pressure, with its turnover ranking first.
Market Turnover TOP 10
▪ Tencent Holdings (00700.HK) Latest trading price 482.4 HKD, down 2.23%, turnover HK$7.822 billion
▪ POP MART (09992.HK) Latest trading price 152.6 HKD, up 2.01%, turnover HK$5.248 billion
▪ Alibaba -W (09988.HK) Latest trading price 120.3 HKD, down 1.88%, turnover HK$4.903 billion
▪ Yangtze Optical Fibre and Cable (06869.HK) Latest trading price 193.7 HKD, up 12.42%, turnover HK$4.039 billion
▪ BYD Company (01211.HK) Latest trading price 106.6 HKD, up 0.09%, turnover HK$3.516 billion
▪ CNOOC Limited (00883.HK) Latest trading price 28.7 HKD, down 1.24%, turnover HK$2.742 billion
▪ Meituan -W (03690.HK) Latest trading price 84.75 HKD, down 1.34%, turnover HK$2.514 billion
▪ SMIC (00981.HK) Latest trading price 51.5 HKD, down 1.90%, turnover HK$2.446 billion
▪ Xiaomi Corporation -W (01810.HK) Latest trading price 32.5 HKD, down 1.52%, turnover HK$2.383 billion
▪ China Construction Bank (00939.HK) Latest trading price 8.19 HKD, up 1.24%, turnover HK$1.724 billion

09992

03858

03696

As of midday March 30, 2026, the three major Hong Kong stock market indices were collectively under pressure, with the Hang Seng Index falling 0.93% and the Hang Seng Tech Index down 1.70%. The Internet Content and Information sector and the Retailers sector generally weakened, led by blue-chip stocks such as Tencent Holdings and Alibaba. Despite rising market caution, POP MART rose against the trend by 2.01%, and resource-related stocks like C&C International Resources and Chalco Shandong performed strongly. Overall trading volume was concentrated in blue-chip stocks, and further attention needs to be paid to whether the trading volume can support a test of previous highs

- As of March 30, 2026, Hong Kong's three major stock indices are facing pressure, with the Hang Seng Index down 0.93% to 24,719.2 points.  
- Market sentiment is cautious, particularly in the internet content and retail sectors, with significant declines for major companies like Tencent and Alibaba.  
- Resource stocks have attracted investor interest, showing resilience amidst a broader market downturn, as seen in the performance of stocks like Jiexin International Resources and Pop Mart.

Market Heartbeat

POP MART

JIAXIN INTL RES

INSILICO

SINOPEC CORP

TENCENT

YOFC

CNOOC

MEITUAN

SMIC

XIAOMI-W

Tencent Holdings Limited

Hang Seng TECH Index

KraneShares 2x Long BABA Daily ETF

Hong Kong Stocks Midday Review: Hang Seng Index Down 0.93%, Tech Stocks Weak; POP MART Rises Against Trend by 2.01%