Hong Kong stocks close | Three major indices fluctuate and diverge, technology hard track rises against the trend, structural market continues

Market Overview

▪ On April 22, the three major indices of the Hong Kong stock market closed with mixed performances, continuing the overall volatile pattern;

▪ The Hang Seng Index closed today at 26,163.240 points, down 1.22%, failing to maintain the previous upward momentum;

▪ The Hang Seng Tech Index closed today at 4,963.940 points, down 1.93%, with the tech sector showing strong market resilience;

▪ The China Enterprises Index closed today at 8,801.780 points, down 1.59%, exhibiting a fluctuating adjustment throughout the day.

Sector Performance

▪ The technology and communication sectors showed significant strength today, with leading stocks rising sharply and substantial funds flowing into high-tech manufacturing, semiconductors, and the smart automotive industry chain. Cambridge Technology rose by 21.08%, PATEO surged by 27.86%, JU TENG INTL increased by 27.36%, and EXTREME VISION rose by 25.15%. The overall sector performance strengthened the enthusiasm for allocating funds to hard technology and high prosperity trend tracks.

▪ The optical communication and semiconductor sectors performed brightly. Changfei Optical Fiber and Cable rose by 17.16%, Cambridge Technology increased by 21.08%, and the active track attracted a large influx of funds. Shenghong Technology rose by 6.92%, maintaining trading heat.

▪ The new energy and electrical equipment sectors showed significant differentiation. CATL fell sharply by 5.03%, mainly due to a collective pullback in the tech and new energy sectors, increasing pressure on annual performance expectations. SiGe New Energy rose against the trend by 4.8%, continuously attracting growth funds since its listing, reflecting the market's structural preference for growth tracks.

Macroeconomic Background

▪ Recently, there has been limited macroeconomic data from the Hong Kong stock market, with investors continuously focusing on changes in the external environment and policy dynamics.

▪ Capital flows, the Hong Kong dollar exchange rate, and sector rotation have become important forces driving market fluctuations, with a focus on allocating resources towards technology, smart manufacturing, and new categories.

▪ Changes in global risk appetite will disrupt the valuation of Hong Kong stocks, and under a structured market, investors are paying attention to favorable policy directions, technological innovation, and new opportunities for cyclical growth.

Popular Stocks

▪ PATEO (2889.HK) rose by 27.86%, with a transaction volume of HKD 681 million. The company benefited from the smart automotive theme and short-term capital, performing very strongly throughout the day, with the market continuously focusing on investment opportunities in smart cars and artificial intelligence, showing significant capital inflow.

▪ AV CONCEPT HOLD (595.HK) rose by 38.89%, with a transaction volume of HKD 36 million. There are prominent signs of capital speculation, lacking event catalysts but surging sharply in the short term driven by the tech boom.

▪ EXTREME VISION (6636.HK) rose by 25.15%, with a transaction volume of HKD 365 million. The growth attributes of tech hardware received significant attention from funds, with the market expecting the sector's prosperity to continue.

▪ Cambridge Technology (6166.HK) rose by 21.08%, with a transaction volume of HKD 3.058 billion. It was active in the Hong Kong stock hardware and semiconductor sectors, embracing the wave of technological manufacturing upgrades, becoming a hotspot for capital chasing, and reinforcing the market's long-term allocation value for high-tech manufacturing.

▪ JU TENG INTL (3336.HK) rose by 27.36%, with a transaction volume of HKD 160 million. It benefited from sector rotation, with short-term capital concentrated on it, showing a significant increase Market Trading Volume TOP10

▪ Tencent Holdings (700.HK) latest trading price HKD 504.00, down 2.89%, trading volume HKD 11.719 billion

▪ CATL (3750.HK) latest trading price HKD 699.00, down 5.03%, trading volume HKD 953 million

▪ Alibaba -W (9988.HK) latest trading price HKD 131.50, down 3.52%, trading volume HKD 915 million

▪ Yangtze Optical Fibre and Cable (6869.HK) latest trading price HKD 247.20, up 17.16%, trading volume HKD 667 million

▪ SMIC (981.HK) latest trading price HKD 59.30, down 1.33%, trading volume HKD 351 million

▪ Shenghong Technology (2476.HK) latest trading price HKD 336.80, up 6.92%, trading volume HKD 338 million

▪ Cambridge Technology (6166.HK) latest trading price HKD 152.20, up 21.08%, trading volume HKD 306 million

▪ Meituan -W (3690.HK) latest trading price HKD 84.25, down 2.54%, trading volume HKD 262 million

▪ Xiaomi Group -W (1810.HK) latest trading price HKD 31.80, down 1.85%, trading volume HKD 260 million

▪ Zijin Mining (2899.HK) latest trading price HKD 37.84, down 0.94%, trading volume HKD 237 million