Market Overview
▪ The Hong Kong stock market closed lower today, with the Hang Seng Index closing at 25,635.23 points, down 0.71%, failing to continue the previous upward trend and retreating from the peak reached on December 24.
▪ The Hang Seng Tech Index closed at 5,483.01 points, slightly down 0.3%, also retreating from last week's peak, with overall performance temporarily under pressure.
▪ The China Enterprises Index closed at 8,891.71 points, down 0.26%, showing signs of retreat from the recent high on December 24, with the index experiencing fluctuations at recent highs.
Sector Performance
▪ The internet content and information sector declined overall, with no positive news to drive the sector stronger. Tencent Holdings fell 1.08%, with a trading volume of HKD 11.133 billion, Kuaishou fell 1.24%, with a trading volume of HKD 1.444 billion, and Baidu fell 0.33%, with a trading volume of HKD 789 million, indicating pressure on mainstream internet leaders, with capital flowing out of the sector and investors showing strong wait-and-see sentiment.
▪ The retail sector generally declined, despite Alibaba reaching a deep AI cooperation with the Institute of Genetics and Developmental Biology of the Chinese Academy of Sciences to launch a smart breeding program, but overall consumer drive remains weak. Alibaba fell 1.85%, with a trading volume of HKD 9.131 billion, JD.com fell 0.71%, with a trading volume of HKD 1.004 billion, and Miniso fell 0.81%, with a trading volume of HKD 179 million, with funds rotating around innovative themes, but the overall atmosphere of capital in the sector is clearly risk-averse.
▪ The hardware, storage, and peripherals sector generally declined. Xiaomi Group fell 1.63%, with a trading volume of HKD 7.614 billion, and Lenovo Group fell 0.86%, with a trading volume of HKD 522 million. Although Lenovo is actively promoting its AI strategy, which is expected to drive growth in AI-related businesses, the current market is under pressure, and capital preferences remain cautious, with most hardware companies unable to reverse the downward trend.
Macroeconomic Background
▪ In December, the focus of the Hong Kong stock market is on retail sales year-on-year steadily growing to 5.3%, with local consumption expected to warm up. Combined with unemployment rates and manufacturing PMI data, investors need to closely monitor the impact of subsequent changes in mainland economic and consumer confidence on the Hong Kong stock market. Overall, although macro data shows limited improvement, market risk appetite is still constrained by confidence recovery.
Popular Stocks
▪ Base Champion Group (8460.HK) rose 65.60%, with a trading volume of HKD 53.0461 million. The company had no significant news driving it, but there was a substantial inflow of funds, reflecting active short-term speculation by retail investors.
▪ MicroPort Scientific Corporation -B (2252.HK) rose 25.85%, with a trading volume of HKD 606 million, as the market focuses on high-tech innovation concepts, with funds favoring the medical robotics sector.
▪ China Goldstone (1380.HK) rose 33.33%, with a trading volume of HKD 20.5327 million, although there was no major news, the stock price showed significant fluctuations driven by short-term funds.
▪ Shumeng Capital (8375.HK) rose 28.13%, with a trading volume of HKD 49.4145 million, with high volatility within the sector attracting short-term capital operations
▪ JunDa Holdings (2865.HK) rose by 21.65%, with a trading volume of HKD 450 million, showing active performance but no favorable events disclosed, mainly due to a strong market speculation atmosphere.
Top 10 Market Trading Volumes
▪ Tencent Holdings (700.HK) latest trading price HKD 596.50, down 1.08%, trading volume HKD 11.133 billion
▪ Alibaba -W (9988.HK) latest trading price HKD 143.30, down 1.85%, trading volume HKD 9.131 billion
▪ Xiaomi Group -W (1810.HK) latest trading price HKD 38.58, down 1.63%, trading volume HKD 7.614 billion
▪ Meituan -W (3690.HK) latest trading price HKD 104.20, up 0.97%, trading volume HKD 5.982 billion
▪ SMIC (981.HK) latest trading price HKD 69.55, down 2.11%, trading volume HKD 5.540 billion
▪ Zijin Mining (2899.HK) latest trading price HKD 34.12, down 3.01%, trading volume HKD 3.659 billion
▪ BYD Company (1211.HK) latest trading price HKD 97.10, up 3.74%, trading volume HKD 3.169 billion
▪ Ping An Insurance (2318.HK) latest trading price HKD 66.40, up 0.30%, trading volume HKD 3.168 billion
▪ China Mobile (941.HK) latest trading price HKD 81.80, down 1.21%, trading volume HKD 3.080 billion
▪ UBTECH (9880.HK) latest trading price HKD 119.50, up 9.13%, trading volume HKD 2.267 billion

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The Hong Kong stock market closed lower today, with all three major indices retreating. The Hang Seng Index fell by 0.71%, the Hang Seng Tech Index slightly decreased by 0.3%, and the National Enterprises Index dropped by 0.26%. The internet content, retail, and hardware sectors performed poorly overall, with core leaders such as Tencent Holdings down 1.08%, Alibaba down 1.85%, and Xiaomi Group down 1.63%. Despite the overall weak sentiment, UBTECH surged by 9.13%, as the market focused on structural hotspots. Funds are paying attention to retail sales growth and macro data and industry trends such as Alibaba's collaboration with the Chinese Academy of Sciences on AI

- The Hong Kong stock market declined today, with the Hang Seng Index closing at 25,635.23 points, down 0.71%, following a pullback from recent highs.  
- Major sectors, including internet content and retail, experienced broad declines, indicating weak consumer confidence despite some strategic partnerships.  
- Notable gainers include Base Metal Group and Microport Scientific, which rose significantly despite the overall market downturn, highlighting investor interest in high-volatility stocks.

Market Heartbeat

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Hong Kong stock market close | The Hang Seng Index fell 0.71%, with technology, retail, and hardware sectors broadly declining, while UBTECH rose over 9% against the trend