Market Overview
▪ The three major indices of the Hong Kong stock market are under pressure during the trading session.
▪ As of now, the Hang Seng Index is at 25,375.5 points, down 0.37% for the day.
▪ The Hang Seng Tech Index has fallen during the session, currently at 5,374.78 points, with a decline of 1.52%, which is more pronounced compared to the overall market decline.
▪ The National Enterprises Index is currently at 8,798.37 points, down 0.51%.
Sector Performance
▪ The retail sector is generally declining during the session, with funds under pressure within the sector. Leading company Alibaba -W is down 1.78%, with active trading, JD.com -SW is down 0.62%, and Miniso is down 3.50%. The decline in the sector is mainly affected by weak consumer demand and a decrease in investor risk appetite, leading to a strong wait-and-see atmosphere among short-term funds.
▪ The internet sector is showing weakness, with large-cap stocks lacking positive stimuli, resulting in a broad decline within the sector. Tencent Holdings is down 0.58%, Kuaishou -W is down 0.77%, and Baidu -SW is down 1.77%. Funds in the sector appear slightly cautious, with no significant inflow of incremental funds.
▪ The hardware, storage, and peripherals sector has become one of the main declining directions during the session. Xiaomi Group -W is down 3.11%, and Lenovo Group is down 3.44%. The overall prosperity of the sector is under pressure, with rapid outflow of funds and narrowing structural opportunities, leading some funds to exit in the short term.
Macroeconomic Background
▪ The latest data shows that the year-on-year retail sales have risen to 5.3%, reflecting an enhanced recovery in domestic demand. On a macro level, this is expected to support market sentiment, but uncertainties remain in the external market environment. Investors continue to pay attention to economic data and policy dynamics during the session, maintaining caution regarding market trends.
Popular Stocks
▪ TRANSTECH (9963.HK) is up 62.96% during the session, with rapid inflow of funds, achieving a trading volume of HKD 2.3816 million, showing outstanding performance without any sudden news catalysts, indicating clear short-term fund speculation.
▪ Guangjun Group Holdings (8573.HK) is up 48.39% during the session, with a trading volume of HKD 339,800, and small-cap stocks are performing actively, attracting speculative funds.
▪ Huameilele (8429.HK) is up 45.28% during the session, with a trading volume of HKD 1.2607 million, favored by speculative funds, with clear characteristics of fund speculation.
▪ Zhihua Group (1842.HK) is up 35.29% during the session, with a trading volume of HKD 1.568 million, influenced by the active market style, also attracting speculative funds as a small-cap stock.
Market Trading Volume TOP10
▪ Alibaba -W (9988.HK) latest trading price is HKD 143.40, down 1.78%, with a trading volume of HKD 4.631 billion.
▪ Tencent Holdings (700.HK) latest trading price is HKD 601.50, down 0.58%, with a trading volume of HKD 4.079 billion.
▪ Xiaomi Group -W (1810.HK) latest trading price is HKD 39.94, down 3.11%, with a trading volume of HKD 3.542 billion
▪ Changfei Fiber Optics (6869.HK) latest transaction price HKD 46.82, up 0.64%, transaction amount HKD 2.494 billion
▪ SMIC (981.HK) latest transaction price HKD 64.30, down 0.69%, transaction amount HKD 1.980 billion
▪ China Mobile (941.HK) latest transaction price HKD 83.65, down 0.95%, transaction amount HKD 1.731 billion
▪ CICC (3908.HK) latest transaction price HKD 19.48, up 2.74%, transaction amount HKD 1.539 billion
▪ SenseTime -W (20.HK) latest transaction price HKD 1.89, down 4.06%, transaction amount HKD 1.460 billion
▪ Meituan -W (3690.HK) latest transaction price HKD 100.50, down 0.79%, transaction amount HKD 1.315 billion
▪ CSPC Pharmaceutical Group (1093.HK) latest transaction price HKD 7.96, up 5.85%, transaction amount HKD 1.111 billion

The three major indices of the Hong Kong stock market fluctuated and retreated during the session, with the Hang Seng Index and the Technology Index unable to maintain their recent highs, resulting in a differentiated market pattern. The hardware, retail, and internet sectors generally declined, with Xiaomi Group and Alibaba leading the decline among the blue chips. Structural hotspots were active, with small-cap stocks like TRANSTECH experiencing significant gains and performing well. Retail sales data reflected a recovery in domestic demand, and investors continued to pay attention to subsequent policy and economic data guidance

- Hong Kong's main stock indices face pressure, with the Hang Seng Index at 25,375.5, down 0.37%, and the Hang Seng Tech Index dropping 1.52%.  
- Retail and internet sectors exhibit declines due to weak consumer demand and cautious investor sentiment, while hardware stocks also suffer significant losses.  
- Despite a 5.3% rise in retail sales indicating domestic recovery, external uncertainties lead investors to remain cautious, monitoring economic data and policies closely.

Market Heartbeat

Hang Seng Index

BABA-W

MNSO

JD-SW

TENCENT

BIDU-SW

XIAOMI-W

LENOVO GROUP

GRANDTALENT RTS

SV VISION

GROWN UP GROUP

YOFC

CICC

TRANSTECH

Hong Kong stock market intraday | The Hang Seng Index fluctuates and consolidates, with the technology and retail sectors under pressure. China International Capital Corporation resumes trading and rises, while mainland bank stocks generally rise