Hong Kong Stock Market Mid-Review | Three major indices collectively fell, technology sector under pressure, SHANDONG MOLONG surged 17.31% against the trend

Market Overview

▪ On April 23rd, Hong Kong stocks saw a collective pullback in the three major indices.

▪ The Hang Seng Index reported 25,929.3 points, down 0.89%, with short-term bullish momentum weakening;

▪ The Hang Seng Tech Index reported 4,870.42 points, with the decline expanding to 1.88%, clearly under pressure in the tech sector;

▪ The China Enterprises Index closed at 8,735.00 points at noon, down 0.76%, with overall market sentiment becoming cautious.

Sector Performance

▪ The technology and communication equipment sectors did not show effective trend data, but from the trading volume and movements of popular stocks, some heavyweight tech stocks faced short-term pressure, with leading companies experiencing significant declines, indicating a risk-averse shift in capital. Individual stocks in the sector such as Tencent Holdings fell 1.67%, Alibaba -W dropped 0.84%, Xiaomi Group -W decreased 2.89%, SMIC fell 2.53%, and Hua Hong Semiconductor dropped 7.22%.

▪ The energy sector performed outstandingly, with SHANDONG MOLONG becoming the focus of the market, rising 17.31% against the trend during the session, with a trading volume of HKD 1,791.52 million and significant capital inflow. The overall heat of this sector has notably increased, mainly driven by short-term rotation and the preference of northbound funds.

▪ The automotive and new energy sectors showed divergence, with BYD Company falling 4.39%, Geely Automobile dropping 5.06%, overall under pressure, while trading activity remained high, indicating a structural defensive shift in capital flow for some sectors.

Macroeconomic Background

▪ The current Hong Kong stock market is focused on the economic recovery process and changes in the external environment, with the annual import rate becoming an important observation indicator. Investors continue to track trade data and policy dynamics to assess market liquidity and structural opportunities, with a short-term focus on defense and sector rotation.

Popular Stocks

▪ SHANDONG MOLONG (568.HK) rose 17.31%, with a trading volume of HKD 1,791.52 million. As a strong leader in the energy sector, the company benefited from sector rotation and the preference of northbound funds, with short-term capital concentrated in inflow, driving the stock price up rapidly. This also boosted the overall performance of the energy theme.

▪ AV CONCEPT HOLD (595.HK) rose 16.00%, with a trading volume of HKD 84.72 million. Recently, it has accumulated a rise of 28%, attracting short-term capital interest, with market sentiment active, consistently ranking high in the gainers list, and capital preference shifting towards small and mid-cap tech stocks.

▪ LOPAL TECH (2465.HK) rose 11.58%, with a trading volume of HKD 1,055.78 million. The heat in the tech sector has increased, with sentiment and improved liquidity driving a phase of stock price appreciation.

▪ GOLDSTREAM INV (1328.HK) rose 31.58%, with a trading volume of HKD 0.48 million. It has attracted strong short-term capital involvement, with clear sector rotation effects, but attention should be paid to the risks brought by high volatility.

▪ ASIAPAC FIN INV (8193.HK) rose 37.14%, with a trading volume of HKD 0.41 million. Driven by short-term capital, small and mid-cap financial stocks became active, with market risk appetite rising, but volatility also expanded.

Market Trading Volume TOP10

▪ Tencent Holdings (700.HK) latest trading price HKD 495.60, down 1.67%, with a trading volume of HKD 7.026 billion ▪ Alibaba -W (9988.HK) latest transaction price HKD 130.40, down 0.84%, transaction amount HKD 3.541 billion

▪ Yangtze Optical Fibre and Cable Joint Stock Limited Company (6869.HK) latest transaction price HKD 230.80, down 6.63%, transaction amount HKD 3.290 billion

▪ Xiaomi Group -W (1810.HK) latest transaction price HKD 30.88, down 2.89%, transaction amount HKD 2.587 billion

▪ Semiconductor Manufacturing International Corporation (981.HK) latest transaction price HKD 57.80, down 2.53%, transaction amount HKD 2.176 billion

▪ CanSino Biologics Inc. (9926.HK) latest transaction price HKD 131.80, down 11.72%, transaction amount HKD 2.058 billion

▪ Hua Hong Semiconductor Limited (1347.HK) latest transaction price HKD 92.50, down 7.22%, transaction amount HKD 1.955 billion

▪ BYD Company Limited (1211.HK) latest transaction price HKD 102.30, down 4.39%, transaction amount HKD 1.923 billion

▪ SHANDONG MOLONG (568.HK) latest transaction price HKD 9.49, up 17.31%, transaction amount HKD 1.792 billion

▪ Geely Automobile Holdings Limited (175.HK) latest transaction price HKD 23.64, down 5.06%, transaction amount HKD 1.554 billion