Market Overview
▪ During intraday trading on April 2, Beijing time, the three major Hong Kong stock indices weakened collectively, having all retreated from yesterday's period highs. Market sentiment remains cautious.
▪ The HSI fell 1.01% intraday to 25037.41 points, failing to refresh the period high from April 1, and is oscillating below the previous high in the short term.
▪ The Hang Seng Tech Index fell 1.96% to 4663.02 points, retreating from its April 1 period high and failing to sustain the previous day's upward momentum.
▪ The Hang Seng China Enterprises Index fell 0.92% to 8426.45 points, also failing to regain its April 1 high.
▪ As of press time, the indices are oscillating below their previous highs. Attention is focused on whether they can rally and stabilize above the April 1 highs, with trading volume likely being the key factor.
Sector Performance
▪ The internet technology sector plummeted intraday, leading the market decline. TENCENT fell 1.33% intraday with a turnover of HKD 2.473 billion. Despite recent net inflows of 1.186 billion yuan from Southbound capital and Northbound capital's favor toward Tencent, short-selling turnover reached as high as 1.798 billion yuan, indicating that some funds are cashing out at highs, leading to a continuous decline in short-term risk appetite. Kuaishou fell intraday, extending its post-earnings downward trend from the previous trading day, weighed down by slowing growth in user, e-commerce, and live-streaming businesses. Due to tightening liquidity across the industry and increased profit pressure on institutions, capital is predominantly adopting a wait-and-see approach in the short term.
▪ Meanwhile, the gold, automobile, and chip sectors performed prominently. GEELY AUTO rose 4.00% intraday with active capital inflows. YOFC gained 5.33%, showing a clear sector rotation effect into hardware and manufacturing.
Macroeconomic Background
▪ Recent macroeconomic data updates for the Hong Kong stock market have been limited. Investors are currently highly focused on upcoming key data such as exports, retail sales, and trade balance to obtain clear guidance on economic recovery.
▪ A strong US dollar, coupled with changes in domestic and external demand, is exerting some pressure on the performance of the Hang Seng Index. The market is currently focused on subsequent policy directions and capital flow signals.
Hot Stocks
▪ YOFC (6869.HK) rose against the trend by 4.84%, with a latest turnover of HKD 2.045 billion. Supported by the fundamentals of the optical communication industry, buying interest from capital remains strong.
▪ GEELY AUTO (175.HK) strengthened intraday, rising 3.73%, with a latest turnover of HKD 1.386 billion, showing good resilience amidst competition among automakers.
▪ CNOOC (883.HK) maintained steady performance, rising 0.82%, with a latest turnover of HKD 2.112 billion. Capital interest in the energy sector remains unabated.
▪ SHANDONG MOLONG (568.HK) delivered an eye-catching performance, rising 8.19%, with a latest turnover of HKD 734 million.
▪ TENCENT (700.HK) followed the sector lower, falling 1.17%, with a latest turnover of HKD 2.275 billion. The weakness in this heavyweight stock suppressed the overall performance of the broader market.
Top 10 Stocks by Market Turnover
▪ XIAOMI-W (01810.HK) latest price HKD 30.78, down 3.87%, turnover 3.266 billion
▪ BABA-W (09988.HK) latest price HKD 118.7, down 3.26%, turnover 2.863 billion
▪ TENCENT (00700.HK) latest price HKD 490.8, down 1.17%, turnover 2.274 billion
▪ CNOOC (00883.HK) latest price HKD 27.18, up 0.82%, turnover 2.111 billion
▪ YOFC (06869.HK) latest price HKD 194.8, up 4.79%, turnover 2.044 billion
▪ MEITUAN (03690.HK) latest price HKD 79.15, down 3.42%, turnover 1.493 billion
▪ KNOWLEDGE ATLAS (02513.HK) latest price HKD 789.0, down 13.77%, turnover 1.433 billion
▪ GEELY AUTO (00175.HK) latest price HKD 22.82, up 3.82%, turnover 1.383 billion
▪ POP MART (09992.HK) latest price HKD 142.6, down 1.86%, turnover 1.156 billion
▪ BYD COMPANY (01211.HK) latest price HKD 103.7, down 0.96%, turnover 1.079 billion

KBAB

BABX

01810

On April 2, all three major Hong Kong stock indices weakened intraday, with the HSI falling 1.01%, failing to return to the previous trading day's high. Hardware, retail, and internet content sectors declined across the board, led by leading stocks like Xiaomi Group, Alibaba, and Tencent Holdings. Market turnover was active, while YOFC and GEELY AUTO stood out by bucking the trend. Investors are focusing on changes in market volume and macroeconomic recovery guidance

- On April 2, 2026, Hong Kong's three major indices declined, reflecting cautious market sentiment.  
- The Hang Seng Index fell 1.01% to 25,037.41, unable to surpass its previous high, while the tech sector led the losses with Tencent dropping 1.33%.  
- Market participants are closely monitoring upcoming economic data to gauge recovery prospects, amidst a strong US dollar affecting performance.

Market Heartbeat

KraneShares 2x Long BABA Daily ETF

BABA 2x Long Daily ETF - GraniteShares

XIAOMI-W

BABA-W

GEELY AUTO

YOFC

CNOOC

SHANDONG MOLONG

TENCENT

MEITUAN

KNOWLEDGE ATLAS

POP MART

BYD COMPANY

Tencent Holdings Limited

Tencent

Xiaomi Corporation

Alibaba

Hong Kong Stocks Intraday | Three Major Indices Collectively Weaken, Hardware and Retail Slump, XIAOMI-W Drops 3.87%