Market Overview
▪ On December 24th, the Hong Kong stock market closed. The three major indices performed steadily.
▪ The Hang Seng Index closed at 25,818.93 points, up 0.17%.
▪ The Hang Seng Tech Index closed at 5,499.3 points, up 0.19%.
▪ The National Enterprises Index closed at 8,915.12 points, up 0.01%.
Sector Performance
▪ The semiconductor sector showed mixed performance during the session. SMIC rose by 3.12%, becoming the leading stock in the sector, with increased capital attention and activity. Hua Hong Semiconductor closed up 1.64%, maintaining a steady performance, while Innovent Biologics fell by 3.02%, reflecting a clear internal structural differentiation and a cautious atmosphere within the sector.
▪ The internet content and information sector stabilized. Tencent Holdings rose slightly by 0.17%, Kuaishou increased by 0.39%, and Baidu fell by 0.25%. The leading stocks showed limited volatility, and trading activity remained stable. Affected by the overall market sentiment, funds mainly flowed into high-quality targets with stable fundamentals, indicating a defensive characteristic in this phase.
▪ The retail sector showed differentiation. Alibaba fell by 0.82% during the session, JD.com remained flat, and Miniso dropped by 1.48%. Investment sentiment in the Chinese concept technology and consumer sectors was cautious, with noticeable capital outflow. The sector's performance was directly influenced by fluctuations in consumer confidence, and future attention should be paid to changes in market sentiment.
Macroeconomic Background
▪ The year-on-year growth rate of retail sales in the Hong Kong stock market rebounded to 5.3%, indicating an improvement in consumption momentum and reflecting signs of economic recovery. Investors are generally focused on changes in the external macro environment and the sustainability of local consumption, providing certain support for future market performance.
Popular Stocks
▪ BioAstin -B (2315.HK) rose by 22.23%, with a trading volume of HKD 482 million. This stock was included in the Hong Kong Stock Connect list, attracting attention from southbound funds, and the market's short-term enthusiasm surged, drawing significant interest.
▪ Shin-Etsu Holdings (6038.HK) rose by 32.81%, with a trading volume of HKD 13 million. The low-level volume increase reflects active participation from funds, with a strong speculative atmosphere.
▪ Elephant Holdings Group (8635.HK) rose by 28.09%, with a trading volume of HKD 5.9236 million. The characteristics of speculative capital rotation were evident, with active funds accelerating their bets.
▪ Xinneng Low Carbon (145.HK) rose by 17.78%, with a trading volume of HKD 4.0693 million, showing significant intraday fluctuations.
▪ Dongyao Pharmaceutical -B (1875.HK) rose by 19.05%, with a trading volume of HKD 3.7289 million. The stock continued to rise with increasing volume, and short-term funds actively participated, enhancing the sector's activity.
Market Trading Volume TOP10
▪ SMIC (981.HK) latest trading price HKD 71.05, up 3.12%, trading volume HKD 4.9556 billion.
▪ Tencent Holdings (700.HK) latest trading price HKD 603.00, up 0.17%, trading volume HKD 4.407 billion
▪ Alibaba -W (9988.HK) latest transaction price HKD 146.00, down 0.82%, transaction amount HKD 4.235 billion
▪ China Mobile (941.HK) latest transaction price HKD 82.80, down 0.06%, transaction amount HKD 1.656 billion
▪ Xiaomi Group -W (1810.HK) latest transaction price HKD 39.22, up 0.05%, transaction amount HKD 1.645 billion
▪ Hua Hong Semiconductor (1347.HK) latest transaction price HKD 71.45, up 1.64%, transaction amount HKD 1.615 billion
▪ HSBC Holdings (5.HK) latest transaction price HKD 123.80, up 1.23%, transaction amount HKD 1.529 billion
▪ Meituan -W (3690.HK) latest transaction price HKD 103.20, unchanged, transaction amount HKD 1.246 billion
▪ Ping An Insurance (2318.HK) latest transaction price HKD 66.20, up 0.38%, transaction amount HKD 1.191 billion
▪ Yangtze Optical Fibre and Cable (6869.HK) latest transaction price HKD 56.30, up 3.11%, transaction amount HKD 1.171 billion

As of noon, the main indices of the Hong Kong stock market maintained a volatile consolidation, with the semiconductor sector performing prominently, led by SMIC. The internet sector remained relatively stable, while the retail sector showed divergence, with Chinese concept technology stocks under pressure, and strong hot thematic stocks surged significantly. Market transactions were concentrated in core technology and heavyweight stocks, with investors paying attention to consumer and macro recovery trends

- As of December 24, Hong Kong stocks showed stable performance with the Hang Seng Index closing at 25,818.93, a slight increase of 0.17%.  
- The semiconductor sector exhibited mixed results; SMIC rose by 3.12%, while INAO fell by 3.02%, indicating internal divergence amid cautious sentiment.  
- Retail sales in Hong Kong improved to a year-on-year growth of 5.3%, signaling economic recovery, while investors remain attentive to external and local consumption factors influencing market dynamics.

Market Heartbeat

SMIC

HUA HONG SEMI

INNOSCIENCE

TENCENT

KUAISHOU-W

BIDU-SW

JD-SW

MNSO

BIOCYTOGEN-B

G & M HLDGS

ELEPHANT HLDGS

CCIAM FUTURE EN

BIODLINK-B

XIAOMI-W

Hong Kong stocks closed｜The three major indices rose before the holiday, with the semiconductor sector performing prominently, led by SMIC