--- title: "Hong Kong Stock Review: Pressured Again" type: "News" locale: "en" url: "https://longbridge.com/en/news/290190142.md" description: "The Hong Kong Hang Seng Index opened lower and continued to decline, performing poorly due to weak domestic demand and capital outflows, contrasting with the record highs of the Nikkei. Consumer stocks such as Meituan and Xiaomi fell, while real estate stocks were under pressure due to interest rate hike expectations. The market logic shows structural differentiation, with the export chain (AI hardware) relatively resilient, while the consumption chain remains sluggish. Although AI brings positive factors on the numerator side, the pressure on the denominator side still dominates the performance of Hong Kong stocks. The Hong Kong Exchanges and Clearing (HKEX) benefits from IPOs but faces the risk of a correction" datetime: "2026-06-18T11:28:58.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/290190142.md) - [en](https://longbridge.com/en/news/290190142.md) - [zh-HK](https://longbridge.com/zh-HK/news/290190142.md) --- # Hong Kong Stock Review: Pressured Again The Hang Seng Index opened lower today and continued to decline, with a slight recovery towards the end but not much improvement. Looking at the surroundings, the Nikkei hit a new high again, indicating that the problem lies within ourselves. Oil prices continue to fall, which should theoretically benefit Asian energy-importing countries, and that's how the Nikkei is rising. The Hong Kong stock market did not follow suit, suggesting that internal issues are more significant than external benefits, with the focus still on soft economic data and capital flowing out. Meituan, which relies on domestic consumption, quickly fell, and Xiaomi continued to decline. Yesterday, it was mentioned that Xiaomi's large model ranked in the top 10, while the leading company Zhizhu continued to surge to new highs. It can be expected that when Kimi and DeepSeek go public, especially with the latter's shareholders representing quantitative funds, both are likely to perform more aggressively. HSBC is the biggest stabilizing force for the Hang Seng Index today, but under the expectation of interest rate hikes, Hong Kong real estate stocks continue to decline. This situation is exactly the same as that of the A-share market—while the export chain (AI hardware) can still hold up, the consumption chain (old blue chips) hits new lows daily, and sectors like insurance are showing significant pullbacks, with capital being rapidly siphoned off. Although the Hong Kong stock market does not have as many stocks to trade as the A-share market's MLCC and PCB, the logic of capital remains the same: the economy is struggling, leaving only structural opportunities, while other sectors are completely abandoned. On the other hand, the stock price of the Hong Kong Stock Exchange is relatively strong, with southbound capital trading accounting for half of the market. Continuous IPOs, although draining capital, are beneficial for the Hong Kong Stock Exchange. However, given the current market conditions and valuations, a correction is inevitable. Originally, it was expected that interest rates would put pressure on the market, but today, South Korean storage remains strong, and U.S. stock futures have even rebounded. It is worth noting that Apple is reportedly expanding memory while also raising prices to offset the costs of storage chips. If Android follows suit, it could inadvertently boost storage demand. Now, we will see how Micron's earnings report performs next week; the current continuous rise may trigger some capital to take profits before the report. In any case, the market's reaction to the FOMC is actually far less significant than imagined, perhaps because, although there is pressure on the denominator side, AI's impact on the numerator side is more pronounced. As long as AI can continuously create demand and drive profit growth, even if the denominator side is no longer as loose as before, the numerator side still has the opportunity to form a hedging effect. The Hong Kong stock market is currently the market most severely pressured on the denominator side, and although the numerator logic related to AI is still in play, it continues to be constrained by weak domestic demand and capital outflows ### Related Stocks - [MPNGY.US](https://longbridge.com/en/quote/MPNGY.US.md) - [HKXCY.US](https://longbridge.com/en/quote/HKXCY.US.md) - [00388.HK](https://longbridge.com/en/quote/00388.HK.md) - [00HSI.HK](https://longbridge.com/en/quote/00HSI.HK.md) - [01810.HK](https://longbridge.com/en/quote/01810.HK.md) - [XIACY.US](https://longbridge.com/en/quote/XIACY.US.md) - [03690.HK](https://longbridge.com/en/quote/03690.HK.md) - [03115.HK](https://longbridge.com/en/quote/03115.HK.md) - [02800.HK](https://longbridge.com/en/quote/02800.HK.md) - [07200.HK](https://longbridge.com/en/quote/07200.HK.md) - [07300.HK](https://longbridge.com/en/quote/07300.HK.md) - [07500.HK](https://longbridge.com/en/quote/07500.HK.md) - [02513.HK](https://longbridge.com/en/quote/02513.HK.md) - [00005.HK](https://longbridge.com/en/quote/00005.HK.md) - [AAPL.US](https://longbridge.com/en/quote/AAPL.US.md) - [MU.US](https://longbridge.com/en/quote/MU.US.md) - [83690.HK](https://longbridge.com/en/quote/83690.HK.md) - [HMTD.SG](https://longbridge.com/en/quote/HMTD.SG.md) - [81810.HK](https://longbridge.com/en/quote/81810.HK.md) - [HXXD.SG](https://longbridge.com/en/quote/HXXD.SG.md) - [DTIW.SG](https://longbridge.com/en/quote/DTIW.SG.md) - [HSBA.UK](https://longbridge.com/en/quote/HSBA.UK.md) - [HSBC.US](https://longbridge.com/en/quote/HSBC.US.md) - [80388.HK](https://longbridge.com/en/quote/80388.HK.md) ## Related News & Research - [Microsoft Builds $1 Billion-Plus AI Business With ByteDance](https://longbridge.com/en/news/290233839.md) - [Alipay and WeChat are accelerating their deployment of smart entity ecosystems. 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