Market Overview
▪ In the Hong Kong stock market, the three major indices collectively retreated, and the overall market failed to maintain yesterday's strength.
▪ As of now, the Hang Seng Index is at 25,621.23 points, down 0.9% for the day.
▪ The Hang Seng Tech Index is currently at 5,517.57 points, down 1.09% intraday.
▪ The China Enterprises Index is currently at 8,900.81 points, down 1.0%.
Sector Performance
▪ The internet content and information sector showed mixed performance during the day. Tencent Holdings fell 0.33% with a trading volume of HKD 2.782 billion, while major leaders in the sector fluctuated, indicating weak short-term speculative interest. Baidu -SW rose 0.77%, showing relative strength after a significant rise yesterday, indicating structural opportunities within the sector. Kuaishou -W dropped 1.24%. Market sentiment has had a certain impact on this sector, with overall direction being unclear.
▪ The retail sector overall declined during the day and continued to face pressure. Alibaba -W fell 1.31% with a trading volume of HKD 2.624 billion, JD -SW dropped 2.02%, and Miniso fell 1.74%. Insufficient consumer confidence has led to cautious capital in the sector, with notable corrections in related leaders.
▪ The semiconductor manufacturers sector had mixed results. SMIC fell 0.21% with a trading volume of HKD 1.386 billion. Hua Hong Semiconductor rose 0.33% with a trading volume of HKD 684 million. Innovent Biologics dropped 0.19%. Industry demand is differentiated, and market capital allocation willingness for segmented targets within the sector is layered, with accelerated rotation of hotspots.
Macroeconomic Background
▪ The Hong Kong stock market has seen retail sales continue to rebound in recent months, with enhanced consumer momentum, and the annual retail sales volume reaching 5.3%. Inflation remains moderate, with the composite CPI annual rate recorded at 1.2%. The market is focused on consumer driving forces and inflation trends, with clear signs of economic recovery in the short term providing fundamental support for related industry sectors, although intraday capital remains cautious, paying attention to sector rotation and thematic exploration.
Popular Stocks
▪ Derun Holdings (1709.HK) rose 20.97% during the day with a trading volume of HKD 385 million. Despite overall sector pressure, the stock saw active capital as its subsidiary, Derun Securities, received final approval from the Securities and Futures Commission to provide virtual asset trading services, attracting market attention due to high volatility.
▪ Envision Intelligent (3696.HK) rose 11.41% during the day with a trading volume of HKD 90.0122 million, maintaining high capital attention on the second day after its IPO, with positive short-term trading sentiment.
▪ Yiyuan Wine Industry (8146.HK) rose 49.06% during the day with a trading volume of HKD 4.7107 million. The stock surged significantly at the opening, becoming a key target for short-term speculation, with the market chasing high-elasticity varieties.
▪ Yucheng Logistics (8489.HK) rose 27.27% during the day with a trading volume of HKD 3.0260 million, experiencing rapid capital inflow and significantly enhanced activity.
Market Trading Volume TOP10
▪ Tencent Holdings (700.HK) latest trading price is HKD 598.00, down 0.33%, with a trading volume of HKD 2.751 billion
▪ Alibaba -W (9988.HK) latest transaction price HKD 142.50, down 1.38%, transaction amount HKD 2.602 billion
▪ SMIC (981.HK) latest transaction price HKD 72.30, down 0.28%, transaction amount HKD 1.367 billion
▪ Zijin Mining (2899.HK) latest transaction price HKD 36.38, up 2.88%, transaction amount HKD 1.259 billion
▪ Sanhua Intelligent Control (2050.HK) latest transaction price HKD 38.80, up 0.94%, transaction amount HKD 1.236 billion
▪ Meituan -W (3690.HK) latest transaction price HKD 102.70, down 1.53%, transaction amount HKD 1.054 billion
▪ Xiaomi Group -W (1810.HK) latest transaction price HKD 39.40, up 0.10%, transaction amount HKD 906 million
▪ Jiangxi Copper (358.HK) latest transaction price HKD 44.12, up 8.4%, transaction amount HKD 829 million
▪ Pop Mart (9992.HK) latest transaction price HKD 185.60, down 2.73%, transaction amount HKD 783 million
▪ Hua Hong Semiconductor (1347.HK) latest transaction price HKD 75.60, up 0.47%, transaction amount HKD 664 million

The main indices of the Hong Kong stock market weakened across the board, with the Hang Seng Index, Hang Seng Tech Index, and the National Enterprises Index all recording declines of over 0.9%. There was significant sector differentiation, with the retail sector under pressure overall, but individual stocks such as Derun Holdings and Yiyuan Wine Industry saw substantial intraday gains. The internet and semiconductor sectors experienced increased volatility, with Tencent Holdings and Alibaba both declining. Overall, affected by fluctuations in consumer confidence, cautious market sentiment, and sector rotation, some specific stocks attracted short-term speculative funds, leading to active trading

- The Hong Kong stock market saw all three major indices decline, with the Hang Seng Index dropping 0.9% to 25,621.23 points.  
- Retail and internet sectors faced downward pressure, attributed to weak consumer confidence, despite some stocks like Delin Holdings and Yiyuan Spirits showing significant gains.  
- Macro indicators showed a 5.3% year-on-year increase in retail sales and mild inflation at 1.2%, suggesting potential economic recovery, although market sentiment remains cautious.

Market Heartbeat

TENCENT

BIDU-SW

KUAISHOU-W

BABA-W

JD-SW

MNSO

SMIC

HUA HONG SEMI

INNOSCIENCE

DL HOLDINGS GP

INSILICO

GRACEWINE

GP LOGISTICS

ZIJIN MINING

SANHUA

Tencent

Tencent Holdings Limited

Alibaba

Hong Kong stock market intraday | The three major indices opened lower, with the Hang Seng Index down 0.9%, the technology index retreating, and the retail sector under significant pressure