Market Overview
Today, Hong Kong's three major stock indices experienced a significant decline across the board, with market sentiment clearly weakening.
▪ The Hang Seng Index closed at 24750.79 points, a daily decrease of 0.81%;
▪ The Hang Seng Tech Index closed at 4690.08 points, a sharp drop of 1.84%;
▪ The H-shares Index closed at 8399.12 points, down 0.65%.
Currently, all three major indices are in a correction channel, failing to break through the phase highs of March 27th, indicating clear short-term pressure.
Sector-Specific Performance
▪ The Internet Content and Information sector collectively declined. TENCENT fell by 2.39%, closing at HK$481.60 with a turnover of HK$1.367 billion. KUAISHOU-W and BIDU-SW fell by 2.30% and 2.58% respectively. Affected by AI asset valuation adjustments, investor risk appetite decreased, and capital outflow signs appeared in the sector.
▪ The Electronic Games and Multimedia sector continued its weakness. NTES-S fell by 0.40%, KINGSOFT fell by 3.79%, and XD INC fell by 1.41%. Although NTES was active in trading supported by buybacks, major funds remained cautious about earnings pressure.
▪ The Retailers sector saw a slight decline. POP MART fell by 0.60% to HK$148.70; CHOW TAI FOOK fell by 0.18%, and CTG DUTY-FREE fell by 1.69%. Affected by adjustments in gold prices and annual report releases, overall consumer spending was under pressure, and capital showed a conservative trend.
Macroeconomic Background
▪ Since March, the Hong Kong stock market has been focusing on key macroeconomic indicators such as the import annual rate, reflecting the impact of import and export trade on the economy. Investors are closely monitoring changes in trade data and related policy dynamics to capture potential opportunities in economic recovery and market valuations. Current changes in economic indicators are dominating market expectations, leading to significant fluctuations in risk appetite.
Hot Stocks
▪ YOFC (6869.HK) surged 14.34% at closing, with the latest transaction price at HK$197.00 and a turnover of HK$6.741 billion. The company has no new announcements, but strong inflow of major funds drove a rebound in technology manufacturing stocks, becoming the strongest performer of the day.
▪ GW TERROIR (524.HK) rose 34.09% with a turnover of HK$22.95 million. Although there are no new announcements, it has been continuously chased by funds, increasing short-term trading activity and showing enhanced capital attraction for small-cap, high-volatility stocks.
▪ DEEWIN (2418.HK) rose 30.73% with a turnover of HK$6.52 million. The company's latest annual report shows a year-on-year increase in operating revenue, a significant decrease in net profit to HK$68.292 million, and a proposed final dividend. Despite profit pressure, short-term capital speculation is intense.
▪ BANK OF GANSU (2139.HK) rose 27.45% with a turnover of HK$16.70 million. The 2025 annual report disclosed a 1.1% year-on-year increase in net profit, an increase in asset size, and a stable non-performing loan ratio. Stable performance boosted market confidence and attracted incremental capital attention.
▪ MIRXES-B (2629.HK) surged 23.69% with a turnover of HK$9.92 billion. There are no new catalysts, but recent capital activity has been strong, increasing market attention.
Market Turnover TOP10
▪ TENCENT (700.HK) -2.39%, Turnover HK$1.367 billion, Latest Price HK$481.60
▪ BABA-W (9988.HK) -1.71%, Turnover HK$964 million, Latest Price HK$120.50
▪ POP MART (9992.HK) -0.60%, Turnover HK$751 million, Latest Price HK$148.70
▪ YOFC (6869.HK) +14.34%, Turnover HK$674 million, Latest Price HK$197.00
▪ BYD COMPANY (1211.HK) -0.66%, Turnover HK$573 million, Latest Price HK$105.80
▪ MEITUAN (3690.HK) -1.98%, Turnover HK$509 million, Latest Price HK$84.20
▪ XIAOMI-W (1810.HK) -1.88%, Turnover HK$472 million, Latest Price HK$32.38
▪ CNOOC (883.HK) -0.55%, Turnover HK$423 million, Latest Price HK$28.90
▪ SMIC (981.HK) -2.10%, Turnover HK$404 million, Latest Price HK$51.40
▪ CCB (939.HK) +1.85%, Turnover HK$392 million, Latest Price HK$8.24

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Today, Hong Kong stocks saw all three major indices decline, with the Hang Seng Index closing down 0.81% and the Technology Index plummeting 1.84%, indicating a weakening market sentiment and clear short-term pressure. Sector-wise, driven by AI valuation adjustments, earnings pressure, and consumption headwinds, mainstream sectors such as internet, electronic games, and retail collectively fell. Capital flows showed significant divergence, with large-cap core assets generally weakening. However, YOFC surged 14.34% against the trend, leading a rebound in technology manufacturing stocks, while some small-cap or volatile stocks like GW TERROIR and BANK OF GANSU also attracted strong chase from active funds. On the macro front, the market is closely watching key trade data, including imports and exports, to identify potential opportunities amidst economic recovery and market valuation fluctuations

- Hong Kong's three main stock indices fell significantly today, reflecting weakened market sentiment.  
- The Hang Seng Index closed at 24,750.79 points, down 0.81%, with negative contributions from the technology and retail sectors amidst declining investor risk appetite.  
- Notable individual stock movements included a 14.34% gain for Changfei Optical Fiber, while Tencent Holdings dropped 2.39%, showing stark contrasts in investor activity.

LB Select

TENCENT

KUAISHOU-W

BIDU-SW

NTES-S

KINGSOFT

XD INC

POP MART

CTG DUTY-FREE

CHOW TAI FOOK

YOFC

GW TERROIR

DEEWIN

BANK OF GANSU

MIRXES-B

BABA-W

BYD COMPANY

MEITUAN

XIAOMI-W

CNOOC

SMIC

Hong Kong Stocks Close | Hang Seng Index Drops 0.81% to 24750 Points, Tech Index Plummets, YOFC Surges Against Trend