Hong Kong stock market intraday | The Hang Seng Index rose 0.64% to lead, Alibaba surged 2.71%, and the Fibocom sector showed significant movement to lead
Today, the three major indices of the Hong Kong stock market rose collectively, with market sentiment becoming cautious but showing structural capital chasing. The hardware, storage, and peripherals sectors were strong in the short term, with Alibaba becoming the focus of capital attention due to a significant increase in volume, while Meituan saw a notable pullback; popular stocks like Fibocom performed outstandingly. There was a divergence in performance across sectors, with clear capital flows towards core leading stocks. The manufacturing PMI being under pressure and stable foreign exchange reserves brought macroeconomic uncertainty
Market Overview
▪ On December 1st, the three major indices of the Hong Kong stock market rose together, with the Hang Seng Index up 0.64% at 26,023.94 points; the Hang Seng China Enterprises Index up 0.41% at 9,167.38 points; and the Hang Seng Tech Index up 0.30% at 5,615.83 points.
▪ As of the time of writing, there were a total of 817 stocks rising, 679 stocks falling, and 1,225 stocks unchanged, reflecting a moderately positive market sentiment, with some funds beginning to position in high-growth sectors at lower prices.
▪ The overall market turnover was active, with significant differentiation among core heavyweight stocks, as funds focused on industry leaders and structural themes.
Sector Performance
▪ The retail sector has recently continued its trend of fluctuating upward, with increasing attention. The sector leader Alibaba -W rose 2.71%, with a turnover of HKD 6.249 billion, clearly favored by major funds; JD -SW increased by 0.52%, but Miniso fell by 1.90%, indicating a structural distribution of funds that is sensitive to macroeconomic support logic.
▪ The hardware, storage, and peripherals sector showed a mixed performance, overall under pressure. ZTE Corporation (763.HK) rose 8.27%, with a turnover of HKD 968 million, strongly boosting the telecommunications hardware concept, with continuous fund inflow. Lenovo Group slightly increased by 0.21%, also seeing some fund inflow. Xiaomi Group -W fell 2.34%, but with a turnover of HKD 3.221 billion, indicating significant speculative activity. YN Group slightly decreased by 1.76%. The sector's strength was mainly driven by the recovery of the sector's prosperity and funds focused on technology themes.
▪ The restaurant sector remained overall stable, with limited trading in major targets, as the market adopted a wait-and-see attitude. Meituan -W became a major differentiating factor, falling 3.51% with a turnover of HKD 4.547 billion, with significant outflow of major funds; Haidilao slightly rose by 1.16%, while Gu Ming fell by 1.74%, indicating low overall trading activity in the industry and weakened enthusiasm for fund participation.
Macroeconomic Background
▪ Recently, the Hong Kong stock market has been closely monitoring the manufacturing PMI and foreign exchange reserve status. On December 3rd, the S&P Global Manufacturing PMI for Hong Kong will be announced, with a previous value of 51.2, and whether it can continue its expansion trend will be the focus; on December 5th, foreign exchange reserves will be announced, with the last figure at USD 426 billion, remaining stable over the past few months.
▪ Macroeconomic data shows a slowdown in the pace of recovery, with rising cautious sentiment among investors, leading to limited preference for cyclical and high-elasticity sectors, as funds pay more attention to growth sectors and industry leaders with strong certainty.
Popular Stocks
▪ Fibocom (638.HK) rose 14.42%, with a turnover of HKD 230 million. The company is establishing a wholly-owned subsidiary to build the Jiangxi Province Fibocom IoT Communication Industrial Park, with major funds actively entering the market, leading to significant sector movement, becoming one of today's biggest highlights.
▪ Sirius (9927.HK) rose 6.35%, with a turnover of HKD 281 million. The sector rotation funds are gaining attention, with short-term performance being active and increasing focus▪ Capital Group Financial Holdings (204.HK) fell 4.44%, with a trading volume of HKD 83 million. Market funds are clearly flowing out, and there is a strong wait-and-see sentiment.
▪ Longpan Technology (2465.HK) fell 2.02%, with a trading volume of HKD 87 million. The decline is limited, but the enthusiasm for fund participation is decreasing, indicating a short-term adjustment.
Market Trading Volume TOP10
▪ Alibaba -W (9988.HK) latest trading price HKD 155.60, up 2.71%, trading volume HKD 6.244 billion
▪ Meituan -W (3690.HK) latest trading price HKD 99.15, down 3.27%, trading volume HKD 4.476 billion
▪ Xiaomi Group -W (1810.HK) latest trading price HKD 40.06, down 2.34%, trading volume HKD 3.220 billion
▪ Tencent Holdings (700.HK) latest trading price HKD 620.00, up 1.39%, trading volume HKD 2.541 billion
▪ Zijin Mining (2899.HK) latest trading price HKD 32.10, up 4.56%, trading volume HKD 1.173 billion
▪ Pop Mart (9992.HK) latest trading price HKD 220.40, down 1.96%, trading volume HKD 1.011 billion
▪ ZTE Corporation (763.HK) latest trading price HKD 34.02, up 8.27%, trading volume HKD 971 million
▪ SMIC (981.HK) latest trading price HKD 68.55, down 0.36%, trading volume HKD 796 million
▪ Jiangxi Copper (358.HK) latest trading price HKD 33.30, up 8.54%, trading volume HKD 788 million
▪ China Hongqiao (1378.HK) latest trading price HKD 31.54, up 2.20%, trading volume HKD 618 million
