Hong Kong stocks closed｜The Hang Seng Index rose moderately, with the technology and financial sectors showing overall strength, and Xiaomi Group rose 1.91%, leading capital attention

Market Overview

▪ The Hong Kong stock market closed today with the three major indices rising moderately.

▪ The Hang Seng Index closed at 26,085.08 points, up 0.58% for the day. Although it has slightly retreated from the peak on December 2, it remains at a relatively high level, with market liquidity and sentiment staying active.

▪ The Hang Seng Tech Index closed at 5,662.46 points, an increase of 0.84%, continuing to oscillate upward, but there is still some distance to the peak on November 17.

▪ The China Enterprises Index closed at 9,198.3 points, up 1.01%, also not breaking the high from November 17, maintaining an overall recovery trend.

▪ From the market perspective, the main indices collectively stabilized and rebounded, with a continued short-term bullish atmosphere, but pressure from the peak remains, and attention should be paid to changes in volume and external sentiment.

Sector Performance

▪ The application software sector fluctuated, continuously driven by AI innovation and digital transformation. Horizon Robotics rose by 1.33%, becoming the leading stock in the sector. The company has recently attracted capital attention, with active trading and sustained interest in robotics-themed investments, seeing accelerated capital inflows both during and at the end of trading. Kingdee International increased by 3.43%, with major institutions increasing their holdings. After being selected as one of the TOP 10 digital service providers for Chinese enterprises in 2025, market recognition has improved, boosting the overall performance of the sector. SenseTime remained flat with active trading, benefiting from local computing power improvements and the ongoing advancement of the group's AI medical business. Currently, capital inflows in the application software sector are concentrated on leading stocks with event catalysts and high institutional recognition.

▪ The diversified capital market sector overall declined, primarily due to performance pressures. Derin Holdings fell by 3.39%. Despite a significant increase in net profit previously and short-term confidence boosted by equity incentives, it remains under pressure. China Everbright Holdings remained flat, with stable capital flow. Jiagao Capital dropped by 1.39% due to adjustments in merger terms and annual performance losses affecting stock performance. Capital maintains a wait-and-see attitude towards the sector, with actual trading primarily characterized by high volatility and quick in-and-out strategies.

▪ The investment banking sector fluctuated, lacking a clear market direction, with dispersed trading volume and no leading stocks showing continuous upward momentum within the sector, as capital flows into other sectors.

Macroeconomic Background

▪ Recent data from the Hong Kong stock market shows that retail sales volume in October rose by 5.3% year-on-year, marking two consecutive months of growth, reflecting a continuous improvement in domestic demand.

▪ The recovery in consumption supports the local economy, linking with manufacturing and foreign trade data, combined with the characteristics of the Hong Kong stock market's recovery, promoting capital allocation towards local consumption and financial blue-chip sectors.

Popular Stocks

▪ CMON (1792.HK) surged by 103.45%, with a trading volume of HKD 2.5901 million, with no recent news. The stock showed strong unusual movement, with significant capital inflow, making it the hottest focus of the market today.

▪ China Goldstone (1380.HK) rose by 38.14%, with a trading volume of HKD 30.3363 million, with no recent news. Short-term capital is active, driving a significant increase in the stock ▪ China New Holdings (8125.HK) rose 44.23%, with a trading volume of HKD 2.7186 million. There is no recent news, but it has been popular in the short term and performed outstandingly.

▪ Saint Tang Holdings (8305.HK) rose 35.09%, with a trading volume of HKD 13.6087 million. There is no recent news, and the influx of funds has driven the stock price higher.

▪ Shifut Investment (1049.HK) rose 23.29%, with a trading volume of HKD 3,600.00. There is no recent news. The trading is active, attracting some short-term funds' attention.

▪ Popular stocks are concentrated in the retail sector, with a strong atmosphere of short-term speculative trading overall. Some stocks have doubled in price, reflecting the market's risk appetite for high β assets.

Market Trading Volume TOP10

▪ Alibaba -W (9988.HK) latest trading price HKD 155, up 0.39%, trading volume HKD 12.166 billion

▪ Xiaomi Group -W (1810.HK) latest trading price HKD 42.78, up 1.91%, trading volume HKD 11.726 billion

▪ Tencent Holdings (700.HK) latest trading price HKD 610, down 0.33%, trading volume HKD 8.903 billion

▪ Ping An (2318.HK) latest trading price HKD 60.45, up 6.71%, trading volume HKD 5.889 billion

▪ Meituan -W (3690.HK) latest trading price HKD 99.05, up 0.97%, trading volume HKD 4.376 billion

▪ Baidu -SW (9888.HK) latest trading price HKD 121.6, up 5.01%, trading volume HKD 3.716 billion

▪ China Construction Bank (939.HK) latest trading price HKD 7.98, up 0.76%, trading volume HKD 3.239 billion

▪ SMIC (981.HK) latest trading price HKD 69.75, down 0.07%, trading volume HKD 3.185 billion

▪ Innovent Biologics (1801.HK) latest trading price HKD 92, down 1.66%, trading volume HKD 3.111 billion

▪ China Life (2628.HK) latest trading price HKD 28.22, up 5.46%, trading volume HKD 2.616 billion