Hong Kong Stocks Intraday | Hong Kong's Three Major Indices Fall Across the Board: TENCENT Edges Up Against the Trend Amid Divergence, Oil and Gas Sector Plunges to Lead the Decline
Complete. Here is the key summaryToday, Hong Kong's three major indices collectively trended lower, with market sentiment significantly pressured by the external environment and policy changes; the Hang Seng TECH Index retreated by nearly 0.5%. On the market front, the oil and gas sector fell across the board due to international oil price fluctuations, with CNOOC and UNITEDENERGY GP leading the declines. Internet giants diverged; while TENCENT rose slightly, its intraday short-selling turnover exceeded HK$3 billion, indicating intense long-short contention. Meanwhile, the market showed clear structural opportunities, with retailers and the AI sector performing actively. JST GROUP, COWELL, and other stocks surged significantly, while Asymchem jumped 12% against the trend, bolstered by strong earnings and dividend plans. Overall, competition among existing funds within the market intensified, and investor caution remained high, with capital flows tilting toward high-performance stocks and those supported by buybacks
Market Overview
▪ During intraday trading in Hong Kong stocks, all three major indices experienced significant adjustments, with market sentiment under pressure.
▪ As of now, the Hang Seng Index stands at 24719.624 points, down 0.13% intraday, failing to reach recent highs.
▪ The Hang Seng TECH Index is trading at 4667.49 points, with its decline widening to 0.48%, showing a significant pullback.
▪ The Hang Seng China Enterprises Index is at 8359.62 points, down 0.47% from the previous trading day, indicating overall weak performance.
Sector Performance
▪ The oil and gas sector experienced a significant intraday decline, primarily influenced by fluctuations in international oil prices, leading to overall pressure. CNOOC fell by 3.11%, UNITEDENERGY GP dropped by 5.00% intraday, and CNOOC-R declined by 3.45%, reflecting increased investor risk aversion and adjustments in industry earnings expectations.
▪ The internet content and information sector showed divergent trends. TENCENT edged up 0.17%, with turnover exceeding HK$3.3 billion. Its daily short-selling turnover was as high as HK$3.04 billion, ranking alongside BYD COMPANY and ALIBABA-W among the top for short selling, indicating significant market divergence and potential for increased short-term volatility.
▪ The application software sector traded with volatility, with some leading companies experiencing mild fund sentiment. KUAISHOU-W rose 0.13% intraday, as the company continues its share buyback program, indicating a clear intention by management to stabilize the stock price, which helps enhance short-term market confidence. SENSETIME-W fell 0.54% as it continues to promote its AI open-source ecosystem and industry standards to foster innovation. BIDU-SW rose 0.47%, with its fund investing in Corona Robotics, indicating continued institutional interest in the AI sector. PHANCY fell 2.85%, and HORIZONROBOT-W dropped 0.74%.
▪ The sector, overall, is influenced by short-selling divergence and share buyback activities by some companies. Competition among existing funds within the market is intense, with frequent internal sector rotations. Investors are exhibiting a wait-and-see attitude alongside structural allocations.
Macroeconomic Background
▪ During intraday trading, the market continued to focus on fluctuations in annual import growth rates. External economic conditions and policy changes in mainland China are impacting corporate earnings and liquidity.
▪ Short-term market sentiment appears slightly cautious, with core attention on capital flows, policy disruptions, and macroeconomic variables. A differentiated pattern in short-term risk appetite is expected to persist, with structural opportunities becoming prominent.
Hot Stocks
▪ The retailer sector showed significant intraday movement. XXF surged 13.76%, with a turnover of HK$36.8484 million, indicating clear short-term fund interest. JST GROUP saw a substantial intraday gain of 18.03%, with a turnover of HK$7.6565 million. Driven by inflows into the tech sector, its activity increased, with short-term fund chasing reinforcing market liquidity.
▪ COWELL rose 12.27% intraday, with a turnover of HK$20.9521 million, attracting short-term fund attention due to its technological attributes. J&T EXPRESS-W climbed 10.02% intraday, with a turnover of HK$58.0773 million, demonstrating strong fund activity.
▪ Asymchem surged 12.29% intraday, with a turnover of HK$12.7247 million. The company announced that its 2025 net profit attributable to the parent company increased by 19.35% year-on-year, and it plans to continue distributing dividends over the next three years, with the annual dividend payout ratio not less than 10% of distributable profits. Strong financial reports and return plans boosted market confidence and attracted capital inflows.
Top 10 Market Turnover Stocks
▪ TENCENT (700.HK) Latest price HK$482.40, up 0.17%, turnover HK$3.334 billion
▪ CNOOC (883.HK) Latest price HK$28.02, down 3.04%, turnover HK$2.385 billion
▪ ALIBABA-W (9988.HK) Latest price HK$119.00, down 1.24%, turnover HK$2.198 billion
▪ YOFC (6869.HK) Latest price HK$188.20, down 4.47%, turnover HK$2.173 billion
▪ POP MART (9992.HK) Latest price HK$143.10, down 3.77%, turnover HK$2.029 billion
▪ XIAOMI-W (1810.HK) Latest price HK$32.16, down 0.68%, turnover HK$1.510 billion
▪ ZIJIN GOLD INTL (2259.HK) Latest price HK$177.70, down 0.17%, turnover HK$1.296 billion
▪ BYD COMPANY (1211.HK) Latest price HK$105.90, up 0.09%, turnover HK$1.279 billion
▪ MEITUAN (3690.HK) Latest price HK$83.75, down 0.53%, turnover HK$1.189 billion
▪ ZIJIN MINING (2899.HK) Latest price HK$34.50, up 0.82%, turnover HK$1.133 billion