Market Overview
▪ During intraday trading, the three major indices of the Hong Kong stock market fell significantly.
▪ As of now, the Hang Seng Index is at 24,657.67 points, down 0.38%, nearly two weeks since the last peak (March 18), and has not refreshed its high, showing a significant overall retreat.
▪ The Hang Seng Tech Index is currently at 4,632.41 points, down 1.23%, continuing to be under pressure since the peak on March 18, failing to break through recent highs, and leading the decline among major sectors today.
▪ The National Enterprises Index is temporarily at 8,341.06 points, down 0.69%, also not breaking through the peak in mid-month, maintaining a sluggish trend.
Sector Performance
▪ The performance of various sectors in the Hong Kong stock market is weak, with market risk sentiment amplified. The technology sector continues to be under pressure, with the Hang Seng Tech Index leading the decline, indicating an increased demand for short-term capital safety. Some heavyweight stocks are actively traded, with divergent performances among leaders.
▪ The retail sector is generally in a downward trend, but some funds are focusing on short-term opportunities. Botai Vehicle Networking surged by 30.82% during the day, with significant capital inflow and large short-term fluctuations, indicating structural active points within the sector. Rongzun International Holdings also rose by 30.26%, with active short-term capital inflow, but caution is needed regarding volatility risks.
▪ Medical and growth-related stocks, such as Baize Medical, rose by 13.22% during the day, with continued capital attention. Within the sector, CMON surged by 31.07% in a single day, and Jitu Express-W rose by 11.89%, reflecting the market's short-term pursuit of popular concepts, with active liquidity but a clear speculative atmosphere.
Macroeconomic Background
▪ The current Hong Kong stock market is highly focused on the year-on-year import data, as changes in data directly affect the performance of export-oriented enterprises and investor confidence, thereby impacting market volatility and the Hong Kong dollar's trend.
▪ Recent indicator changes have intensified market uncertainty, leading to an overall decline in investor risk appetite.
Popular Stocks
▪ Botai Vehicle Networking (2889.HK) rose by 30.82% during the day, with a transaction volume of HKD 17.9813 million. There has been no recent news catalyst, but short-term capital inflow is active, driving significant stock price movements.
▪ Rongzun International Holdings (1780.HK) rose by 30.26% during the day, with a transaction volume of HKD 1.3384 million. On March 31, 2026, the stock had previously surged by 27.63%, reigniting short-term growth expectations and market sentiment, with significant capital inflow, but caution is needed regarding high volatility risks (source: Hong Kong Stock Movement Tracking).
▪ Baize Medical (2609.HK) rose by 13.22% during the day, with a transaction volume of HKD 20.0488 million. There has been no major news recently, but capital continues to focus on structural opportunities.
▪ CMON (1792.HK) rose by 31.07% during the day, with a transaction volume of HKD 740,200. On March 31, 2026, it had previously surged by 40.78%, with active capital inflow within the sector, and a strong short-term capital speculation atmosphere, with increased market attention and no major announcements on fundamentals (source: Hong Kong Stock Movement Tracking).
▪ Jitu Express-W (1519.HK) rose by 11.89% during the day, with a transaction volume of HKD 1,025.489 million. There has been no recent news, but short-term capital attention has significantly increased
Market Trading Volume TOP10
▪ Tencent Holdings (700.HK) latest trading price HKD 487.80, increase of 1.29%, trading volume HKD 8.035 billion
▪ Alibaba-W (9988.HK) latest trading price HKD 118.80, decrease of 1.41%, trading volume HKD 5.695 billion
▪ Yangtze Optical Fibre and Cable (6869.HK) latest trading price HKD 181.80, decrease of 7.72%, trading volume HKD 5.343 billion
▪ China National Offshore Oil Corporation (883.HK) latest trading price HKD 27.68, decrease of 4.22%, trading volume HKD 4.892 billion
▪ Pop Mart International (9992.HK) latest trading price HKD 144.20, decrease of 3.03%, trading volume HKD 4.090 billion
▪ Xiaomi Group-W (1810.HK) latest trading price HKD 31.54, decrease of 2.59%, trading volume HKD 3.760 billion
▪ Meituan-W (3690.HK) latest trading price HKD 82.90, decrease of 1.54%, trading volume HKD 2.199 billion
▪ BYD Company (1211.HK) latest trading price HKD 105.50, decrease of 0.28%, trading volume HKD 2.094 billion
▪ Zijin Mining Group (2259.HK) latest trading price HKD 172.20, decrease of 3.26%, trading volume HKD 2.046 billion
▪ Semiconductor Manufacturing International Corporation (981.HK) latest trading price HKD 50.10, decrease of 2.53%, trading volume HKD 1.973 billion

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The three major indices of the Hong Kong stock market fell significantly during the trading session, with market sentiment continuing to decline due to macroeconomic uncertainties and fluctuations in import year-on-year data, leading the Hang Seng Tech Index to drop over 1% intraday. On the market, the performance of heavyweight stocks was mixed; although Tencent Holdings rose slightly against the trend and maintained its position at the top of the trading volume list, leading stocks such as Alibaba, CNOOC, and Chongqing Changan Automobile collectively adjusted, dragging down the overall market performance. Against the backdrop of a general weakening of risk appetite, the competition among existing funds in the market intensified, showing a clear characteristic of coexistence between risk aversion and speculation: while mainstream sectors showed weak performance, small-cap stocks like Botai Carlink, Rongzun International, and CMON experienced sharp fluctuations of over 30% due to inflows of short-term funds. Overall, the market lacks upward momentum for a breakout in the short term, and investors are shifting their focus to changes in trade data and structural opportunities in individual stocks

- Hong Kong stocks have significantly declined, with the Hang Seng Index at 24,657.67, down 0.38% from its recent peak on March 18.  
- The technology sector is under pressure, reflected by the Hang Seng Technology Index falling 1.23%, indicating a heightened risk aversion among investors.  
- Notable stock movements include Bote Auto rising 30.82%, and CMON increasing by 31.07%, as market participants focus on structural opportunities despite overall market uncertainty.

LB Select

PATEO

RONGZUN INT’L H

BAYZED HEALTH

CMON

J&T EXPRESS-W

TENCENT

BABA-W

YOFC

CNOOC

POP MART

XIAOMI-W

MEITUAN

BYD COMPANY

ZIJIN GOLD INTL

SMIC

Hong Kong stocks intraday | The three major indices fell sharply during the session, the retail sector showed unusual movements with Bota Carlink rising over 30%, and the leading stocks exhibited significant fluctuations in capital