--- title: "\"Market Review\" Hong Kong stocks retreat, northbound capital turns to a net inflow of 17 billion, SenseTime's stock price falls" type: "News" locale: "en" url: "https://longbridge.com/en/news/283120693.md" description: "After three consecutive days of gains, Hong Kong stocks fell, with the Hang Seng Index closing down 233 points at 26,160 points. Northbound capital had a net inflow of HKD 17.01 billion, while southbound funds saw a net inflow of HKD 25.753 billion this week. U.S. stocks rose slightly as the market focused on the progress of negotiations regarding the U.S.-Iran war. The new stocks GPIXEL and MANYCORE TECH both saw significant increases on their first day of listing. The overall market turnover was HKD 238.042 billion" datetime: "2026-04-17T09:17:35.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/283120693.md) - [en](https://longbridge.com/en/news/283120693.md) - [zh-HK](https://longbridge.com/zh-HK/news/283120693.md) --- # "Market Review" Hong Kong stocks retreat, northbound capital turns to a net inflow of 17 billion, SenseTime's stock price falls The market is watching the progress of the US-Iran war negotiations, and after three consecutive days of gains, Hong Kong stocks fell back. Trump stated that Israel and Lebanon agreed to a ceasefire on the 10th and indicated that Iran agreed to hand over enriched uranium, with the US and Iran very close to reaching an agreement. The Dow Jones and Nasdaq in the US rose 0.2% and 0.4% respectively the night before, and at the time of writing, the yield on US 2-year bonds fell to 3.769%, the yield on US 10-year bonds fell to 4.299%, and the US dollar index dropped to 98.11. Dow futures rose 157 points or 0.3%, and Nasdaq futures rose 28 points or 0.1%. The Shanghai Composite Index fell 4 points or 0.1% to close at 4,051 points, the Shenzhen Component Index rose 0.6%, and the ChiNext Index rose 1.4%, with a total transaction volume of 2.42 trillion RMB in the Shanghai and Shenzhen markets. The domestic laser chip supplier Yuanjie Technology (688498.SH) saw its stock price jump by 10% to close at 1,445 RMB, surpassing the long-term "dominant" Kweichow Moutai (600519.SH) to claim the top spot in A-share prices. Yuanjie Technology announced last month that it is advancing the relevant work for its H-share listing, but specific details have not yet been finalized. The Hang Seng Index opened down 183 points and the decline widened, dropping as much as 378 points to a low of 26,015 points, closing down 233 points or 0.9% at 26,160 points; the Hang Seng China Enterprises Index fell 60 points or 0.7% to close at 8,845 points; the Hang Seng Tech Index fell 49 points or 1% to close at 5,042 points. The total transaction volume for the day was 238.042 billion HKD. The total transaction volume for northbound trading was 103.747 billion HKD, while southbound funds saw a net inflow of 17.01 billion HKD today (with a net inflow of 4.291 billion HKD on the previous trading day). In terms of new stocks, GPIXEL (03277.HK) debuted at 70 HKD, up 75.5% from the listing price of 39.88 HKD, with a transaction volume of 2.01 billion HKD; Manycore Tech (00068.HK), one of the "Six Little Dragons of Hangzhou," debuted at 18.6 HKD, up 144.1% from the listing price of 7.62 HKD, with a transaction volume of 2.59 billion HKD. The Hang Seng Index rose a total of 266 points or 1% this week, the Hang Seng China Enterprises Index rose a total of 189.98 points or 2.2% this week, and the Hang Seng Tech Index rose a total of 182 points or 3.8% this week. Southbound funds saw a net inflow of 25.753 billion HKD this week (after recording a net outflow of 11.796 billion HKD last week), as the market anticipates that US-Iran negotiations may lead to an agreement to end the war. 【Two new stocks favored, tech stocks retreat】 Alibaba launched the Tongyi Qwen 3.6-35B-A3B model, and Alibaba (09988.HK) rose 0.4%. JD.com (09618.HK) and Meituan (03690.HK) fell 1% and 2.5% respectively. Tencent (00700.HK), Baidu (09888.HK), and Kuaishou (01024.HK) fell between 1.1% and 1.3%, while NetEase (09999.HK) and Bilibili (09626.HK) fell 2.3% and 2.1% JD Health (06618.HK) fell 3%, New Oriental (09901.HK) rose 3%. The State Administration for Market Regulation today (17th) made administrative penalty decisions against 7 e-commerce platforms for the "ghost delivery" series of cases, ordering the 7 e-commerce platforms to rectify illegal behaviors, suspending the addition of new cake shops for 3 to 9 months, and imposing a total fine of RMB 3.597 billion. At the same time, fines totaling RMB 19.6874 million were imposed on the legal representatives and food safety directors of the 7 platform companies. The 7 e-commerce platforms are Shanghai Xunmeng Information Technology Co., Ltd. (Pinduoduo (PDD.US)), Beijing Sanquick Technology Co., Ltd. (Meituan), Beijing JD 360 E-commerce Co., Ltd. (JD), Shanghai Lazada Information Technology Co., Ltd. (formerly Ele.me, now Taobao Flash Sale), Beijing Douyin Technology Co., Ltd. (Douyin), Zhejiang Taobao Network Co., Ltd. (Taobao), and Zhejiang Tmall Network Co., Ltd. (Tmall). 【Declining stocks over a thousand, SenseTime's stock price drops】 The Hong Kong stock market turned weak today, with the rise and fall ratio of main board stocks at 19 to 31 (previous day 32 to 19), with 1,295 declining stocks (down 2.3%); among the Hang Seng Index constituent stocks, 16 stocks rose, and 72 stocks fell, with a rise and fall ratio of 18 to 80 (previous day 68 to 29); the market recorded short selling of HKD 49.089 billion, accounting for 24.36% of the total turnover of shortable stocks of HKD 201.516 billion. In the financial sector, HSBC (00005.HK) and Hong Kong Exchanges and Clearing (00388.HK) fell 0.6%, AIA (01299.HK) fell 3.1%. Domestic insurance stocks PICC (01339.HK), Ping An (02318.HK), and Taikang (02601.HK) fell 3.3% to 3.7%. In addition, SenseTime (00020.HK) raised net proceeds of HKD 3.23 billion through a placement at a discount of about 8.6%, with the stock price dropping 3.8% to close at HKD 2.01 ### Related Stocks - [00HSI.HK](https://longbridge.com/en/quote/00HSI.HK.md) - [03277.HK](https://longbridge.com/en/quote/03277.HK.md) - [00068.HK](https://longbridge.com/en/quote/00068.HK.md) - [00020.HK](https://longbridge.com/en/quote/00020.HK.md) ## Related News & Research - [China's SenseTime to raise $415 million in share placing to fund AI expansion](https://longbridge.com/en/news/283079316.md) - [SenseTime to Raise HK$3.23 Billion via Discounted Class B Share Placement](https://longbridge.com/en/news/283066253.md) - [China launches national plan to boost AI education](https://longbridge.com/en/news/282481609.md) - [Shenghui Cleanness Weighs Strategic Move Into Water Environment Services With Proposed Acquisition](https://longbridge.com/en/news/283052058.md) - [UAE: SEWA begins installing water-saving devices at citizens' homes](https://longbridge.com/en/news/282990306.md)