Market Overview
▪ The Hong Kong stock market closed with all three major indices weakening, and market sentiment was significantly under pressure;
▪ The Hang Seng Index closed at 25,660.85 points, down 0.90%, with the index giving back some of the previous rebound gains;
▪ The Hang Seng Tech Index closed at 4,822.01 points, down 0.79%, but the collective pullback of tech giants still suppressed the index performance;
▪ The China Enterprises Index closed at 8,602.06 points, down 0.61% for the day, with large-cap stocks generally retreating, and confidence still needs to be restored in the short term.
Sector Performance
▪ The technology and hardware-related sectors led the decline. Tencent Holdings fell 2.87% today, with a turnover of HKD 10.393 billion. The price increase in cloud services has driven expectations for AI commercialization, but tech stocks are under short-term valuation pressure, and investors are clearly becoming more cautious. Xiaomi Group-W fell 0.78%, with a turnover of HKD 3.625 billion, as the market experienced short-term fluctuations. Lenovo Group fell 0.40%, with a turnover of HKD 706 million. There is a structural differentiation in funds regarding performance realization and innovation capability, with some leading stocks being pressured by high short-selling ratios.
▪ AI concept and innovative technology companies performed outstandingly. Deepixi Tech surged by 59.19%, with a turnover of HKD 3.731 billion, becoming a market highlight. Within the AI sector, different groups, 51WORLD, and Xunce also recorded significant increases, reflecting a focus on AI commercialization and high-tech growth.
▪ The internet content and information sector showed significant adjustments, with Kuaishou-W down 1.33%, heavily short-sold, and market sentiment remaining cautious in the short term. Baidu Group-SW fell 1.10%, with market risk appetite decreasing, but the company's AI and smart hardware ecosystem layout continues to advance, still attractive to long-term investors.
Macroeconomic Background
▪ The Hong Kong stock market is paying attention to import annual rates and other foreign trade indicators, with an overall cautious macro environment. Liquidity and exchange rate fluctuations have a significant short-term impact on indices and industries, and it is recommended to continue monitoring changes in import and export data and related policy directions.
Popular Stocks
▪ Deepixi Tech (1384.HK) rose 59.19% today, with the latest price at HKD 71.00 and a turnover of HKD 3.731 billion. The price increase in AI-related cloud services has catalyzed a revaluation of AI commercialization, becoming a focal point of high market attention, attracting a large inflow of funds, with a cumulative increase of over 120% in the past two days.
▪ Different Groups (6090.HK) rose 43.54% today, with a turnover of HKD 1.231 billion, as funds chase the main line of AI technology innovation.
▪ 51WORLD (6651.HK) rose 28.62% during the day, with a turnover of HKD 1.156 billion. The speculation around AI concepts is strong, and market demand for technology and industrial chains continues to heat up, with funds primarily engaged in short-term speculation.
▪ Xunce (3317.HK) surged 15.61%, with the latest price at HKD 358.40 and a turnover of HKD 2.658 billion. The company signed a strategic agreement with a data exchange to enhance its layout in the data factor industry, gaining financial support
▪ Haizhi Technology Group (2706.HK) rose 21.54%, with a trading volume of HKD 296 million. The sector is overall active, with significant capital inflow, catalyzing expectations for industrial expansion and upgrades.
Market Trading Volume TOP10
▪ Tencent Holdings (700.HK) latest trading price HKD 490.00, down 2.87%, trading volume HKD 10.393 billion
▪ Alibaba-W (9988.HK) latest trading price HKD 123.20, down 1.83%, trading volume HKD 6.292 billion
▪ YOFC (6869.HK) latest trading price HKD 214.80, down 3.42%, trading volume HKD 5.834 billion
▪ BYD Company (1211.HK) latest trading price HKD 110.30, up 4.95%, trading volume HKD 5.500 billion
▪ DEEPEXI TECH (1384.HK) latest trading price HKD 71.00, up 59.19%, trading volume HKD 3.731 billion
▪ XIAOMI-W (1810.HK) latest trading price HKD 30.66, down 0.78%, trading volume HKD 3.625 billion
▪ POP MART (9992.HK) latest trading price HKD 151.50, up 0.40%, trading volume HKD 3.495 billion
▪ XUNCE (3317.HK) latest trading price HKD 358.40, up 15.61%, trading volume HKD 2.658 billion
▪ CNOOC (883.HK) latest trading price HKD 26.64, up 0.45%, trading volume HKD 2.441 billion
▪ SMIC (981.HK) latest trading price HKD 57.15, down 1.89%, trading volume HKD 2.356 billion

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Hong Kong stocks weakened across the board today, with market sentiment significantly under pressure. Blue-chip stocks collectively retreated, dragging the index down to test support levels, and the Hang Seng Index gave back some of its previous rebound gains. On the market, AI concepts and innovative technology companies became the only bright spot in the weak market, performing exceptionally well. DEEPEXI TECH led a group of small and mid-cap AI stocks to surge against the trend, reflecting that during the index adjustment phase, major funds are accelerating their shift towards hardcore tracks with high technological growth potential and expectations of commercial revaluation

- The Hong Kong stock market closed lower, with the Hang Seng Index falling by 0.90% to 25,660.85 points, reflecting weakened market sentiment.  
- The technology sector experienced significant declines, while AI-related companies like Dipu Technology surged by 59.19%, showing strong investor interest in AI commercialization.  
- Overall, market performance remains cautious, impacted by macroeconomic factors and liquidity fluctuations; investors are advised to monitor trade data and policy trends closely.

LB Select

TENCENT

XIAOMI-W

LENOVO GROUP

DEEPEXI TECH

KUAISHOU-W

BIDU-SWR

BUTONG GROUP

51WORLD

XUNCE

HAIZHI TECH GP

YOFC

BYD COMPANY

POP MART

CNOOC

SMIC

Hong Kong stocks closed | All three major indices retreated, risk aversion spread, DEEPEXI TECH surged nearly 60% against the trend