Market Overview
▪ As of noon, the major indices of the Hong Kong stock market have collectively retreated, with market sentiment being cautious and a noticeable downward trend this week.
▪ The Hang Seng Index closed at 25,325.05 points at noon, down 0.43%.
▪ The Hang Seng Tech Index was at 5,516.99 points at midday, down 0.68%.
▪ The China Enterprises Index reported 8,890.59 points at noon, down 0.51%.
Sector Performance
▪ The retail sector showed mixed performance, with leading stocks remaining stable overall. The market sentiment was dominated by a wait-and-see attitude, lacking clear driving forces, and trading activity was generally moderate, with limited short-term investor interest. Alibaba -W rose 0.60%, while Miniso increased by 2.23%.
▪ The technology content-related sector experienced increased volatility, with leading stocks under pressure due to divergent market expectations. Tencent Holdings fell 1.00%, and Kuaishou -W dropped 0.90%, reflecting a slightly cautious market sentiment.
▪ Within the communication equipment sector, there was divergence, with YOFC rising 4.54% against the trend, showing outstanding performance, and active buying in the market significantly strengthened, making it the leading gainer of the day. BYD Electronics fell 1.05%, indicating that funds are focusing on high-quality targets within niche segments.
Macroeconomic Background
▪ Retail sales volume year-on-year rose to 5.3%, indicating an enhanced momentum in domestic demand, boosting investor confidence in consumption recovery. The macroeconomic environment has become a support for the market, but the overall recovery process still needs to be continuously monitored, with funds being cautiously optimistic about the outlook.
Popular Stocks
▪ Sinovac Biotech -B rose 17.97%, with a trading volume of HKD 12.7318 million. The stock surged significantly during the session, attracting active funds to rush in, becoming a mainstream hotspot in the pharmaceutical sector, with a notable inflow effect.
▪ Lianhua Supermarket Holdings rose 62.67%, with a trading volume of HKD 377,800. The stock experienced unusual movements, with a surge in trading volume, indicating prominent signs of short-term speculative trading, and the extremely high increase reflects a rise in speculative sentiment.
▪ Lingbao Gold rose 10.66%, with a trading volume of HKD 21.3876 million. The gold theme attracted funds, and the stock performed strongly with increased trading volume, driven by a preference for safe-haven assets, leading to an overall strengthening of the gold sector.
▪ China Science and Technology Innovation Industry Investment rose 38.62%, with a trading volume of HKD 125,900. The stock surged during the session, attracting market short-term trading funds due to its low market capitalization, resulting in a high turnover rate.
▪ First Tractor Company rose 11.11%, with a trading volume of HKD 8.0315 million. The agricultural machinery sector showed localized strength, with this stock being actively pursued by funds, becoming a secondary hotspot.
Market Trading Volume TOP10
▪ Alibaba -W (9988.HK) latest trading price HKD 151.80, up 0.60%, trading volume HKD 4.493 billion.
▪ Tencent Holdings (700.HK) latest trading price HKD 596.50, down 1.00%, trading volume HKD 4.247 billion.
▪ YOFC (6869.HK) latest trading price HKD 39.64, up 4.54%, trading volume HKD 2.006 billion
▪ Xiaomi Group -W (1810.HK) latest transaction price HKD 41.36, increase of 0.24%, transaction amount HKD 1.939 billion
▪ Pop Mart (9992.HK) latest transaction price HKD 191.10, increase of 0.42%, transaction amount HKD 1.861 billion
▪ Semiconductor Manufacturing International Corporation (981.HK) latest transaction price HKD 67.40, decrease of 2.11%, transaction amount HKD 1.769 billion
▪ Meituan -W (3690.HK) latest transaction price HKD 98.50, increase of 1.18%, transaction amount HKD 1.481 billion
▪ China Construction Bank (939.HK) latest transaction price HKD 7.54, decrease of 0.92%, transaction amount HKD 1.033 billion
▪ Horizon Robotics -W (9660.HK) latest transaction price HKD 8.86, increase of 1.84%, transaction amount HKD 943 million
▪ China National Offshore Oil Corporation (883.HK) latest transaction price HKD 21.00, decrease of 0.28%, transaction amount HKD 871 million

As of noon, the main indices of the Hong Kong stock market have collectively retreated, with the Hang Seng Index, Technology Index, and National Enterprises Index all experiencing slight declines, indicating a clear market wait-and-see sentiment. The sector differentiation pattern is prominent, with leading companies in retail, technology, and communication equipment showing mixed performance. YOFC rose against the trend, while the pharmaceutical, gold, and agricultural machinery sectors were partially active, with funds shifting towards second-tier themes. Retail sales year-on-year rose to 5.3%, improving domestic demand and boosting confidence, but the sustainability of the recovery remains to be observed. The overall market turnover is concentrated in internet and technology manufacturing giants, with some small and mid-cap stocks showing significant gains, and the market's hotspots are switching rapidly

- As of midday, Hong Kong's main indices showed a collective decline, with the Hang Seng Index down 0.43% at 25,325.05 points.  
- Retail sales increased by 5.3% year-on-year, indicating improved domestic demand, which supports investor confidence in consumption recovery.  
- Notable stock movements included Silver Noble Pharma rising 17.97% and Longi Green Energy increasing 62.67%, reflecting active trading and speculative interest in the market.

Market Heartbeat

YOFC

BABA-W

MNSO

TENCENT

KUAISHOU-W

BYD ELECTRONIC

INNOGEN-B

LEGEND UPSTAR

LINGBAO GOLD

CN SCI-TECH IND

FIRST TRACTOR

XIAOMI-W

POP MART

Hong Kong Stock Mid-Review | Three major indices adjusted, YOFC led the intraday gains, with second-line sectors such as pharmaceuticals and gold active