Hong Kong stocks close | Hang Seng TECH Index rises 2.78%, Kuaishou surges 7.11% leading the sector, Ganfeng Lithium falls 5.66% against the trend

Market Overview

▪ On November 24, the three major indices of the Hong Kong stock market rose simultaneously, with the Hang Seng Index up 1.97%, closing at 25,716.50 points; the Hang Seng China Enterprises Index increased by 1.79%, closing at 9,079.42 points; the Hang Seng TECH Index performed strongly, rising 2.78% to close at 5,545.56 points.

▪ As of the time of writing, there were 1,255 stocks rising in the market, 666 stocks falling, and 805 stocks unchanged, indicating an overall positive market sentiment, with a noticeable increase in risk appetite among market participants.

▪ Mainstream funds concentrated on technology, internet, and consumer sectors, driving active rotation in hot sectors, with a significant rebound in investor participation.

Sector Performance

▪ The technology sector led the market, with the Hang Seng TECH Index showing the highest gains. Leading company Kuaishou surged 7.11%, with active trading, indicating that funds are primarily targeting high-growth and high-volatility stocks. Core technology stocks such as Alibaba and Tencent Holdings also recorded gains, highlighting a rebound in investor risk appetite, with incremental funds focusing on leading stocks.

▪ The semiconductor industry showed significant differentiation, with SMIC slightly down 1.09%, but with a trading volume of HKD 9.722 billion, indicating that funds are still paying attention to leading positions during the adjustment of the economic cycle. Hua Hong Semiconductor fell sharply by 4.91%, showing some internal differentiation within the sector, with some funds flowing out in the short term.

▪ In the new energy and materials sectors, Ganfeng Lithium fell against the trend by 5.66%, with a trading volume of HKD 3.624 billion, reflecting industry pressure in the short term, with growth and thematic funds undergoing adjustments and a divergence in fund flows.

▪ The internet and consumer sectors remained strong, with Meituan and Xiaomi Group receiving continuous funding support, as funds favored stocks with strong performance certainty and high innovation growth elasticity. Institutional fund inflows provided support for the sector's upward movement.

Macroeconomic Background

▪ The latest data shows that Hong Kong's unemployment rate slightly fell to 3.8%, with moderate price increases, and the annual CPI rate at 1.2%, while foreign exchange reserves remained stable.

▪ Retail and foreign trade are recovering, and the manufacturing PMI remains steady at the threshold line, providing support for the Hong Kong stock market.

▪ Market investment sentiment is gradually improving, with investors maintaining focus on consumption and export-related themes, and improvements in macro data are conducive to stabilizing the market and facilitating fund inflows.

Popular Stocks

▪ Guofu Hydrogen Energy (2582.HK) rose 10.83%, with a trading volume of HKD 560 million. The company's stock price showed significant fluctuations, with concentrated funding driving the increase, and the new energy and industrial trends attracting active short-term participation.

▪ JINGRUI Holdings (1862.HK) surged 66.67%, with a trading volume of HKD 4 million. The company saw a rise in small-cap stocks today, and although the trading volume was limited, it was driven by speculative funds, with market attention shifting to hot spots.

▪ China Shipbuilding Defense (317.HK) rose 13.07%, with a trading volume of HKD 898 million. Recently, it has been driven by industry prosperity and capital attention, with continuous fund inflows maintaining a strong trend ▪ China Resources Gas (1635.HK) fell 4.75%, with a turnover of HKD 244 million. The stock is showing an adjustment pattern, with net outflow of main funds and no significant news catalyst.

Market Turnover TOP10

▪ Alibaba -W (9988.HK) latest transaction price HKD 154.50, up 4.67%, turnover HKD 30.721 billion

▪ Tencent Holdings (700.HK) latest transaction price HKD 624.50, up 2.38%, turnover HKD 13.930 billion

▪ SMIC (981.HK) latest transaction price HKD 68.05, down 1.09%, turnover HKD 9.722 billion

▪ Xiaomi Group -W (1810.HK) latest transaction price HKD 38.66, up 1.52%, turnover HKD 9.087 billion

▪ Hua Hong Semiconductor (1347.HK) latest transaction price HKD 69.65, down 4.91%, turnover HKD 5.576 billion

▪ Kuaishou -W (1024.HK) latest transaction price HKD 68.55, up 7.11%, turnover HKD 4.551 billion

▪ Meituan -W (3690.HK) latest transaction price HKD 98.15, up 2.72%, turnover HKD 3.810 billion

▪ Ganfeng Lithium (1772.HK) latest transaction price HKD 48.02, down 5.66%, turnover HKD 3.624 billion

▪ BYD Company (1211.HK) latest transaction price HKD 94.85, up 2.26%, turnover HKD 3.238 billion

▪ China Construction Bank (939.HK) latest transaction price HKD 8.21, up 1.48%, turnover HKD 3.228 billion