Market Overview
▪ As of noon, the three major indices of the Hong Kong stock market have collectively rebounded, and market sentiment has improved.
▪ The Hang Seng Index closed at 26,801.69 points at noon, up 1.78%, still some distance from the peak on November 13 of last year, and has not yet broken through the previous high in the short term.
▪ The Hang Seng Tech Index closed at 5,859.24 points at noon, up 2.21%, also not refreshing the high since November 13, 2025, and remains within a volatile range.
▪ The China Enterprises Index reported 9,287.88 points at noon, an increase of 1.61%, still far from the new high reached on November 17 of last year, and has not yet set a new high.
Sector Performance
▪ The retail sector showed volatile movements at noon, overall lacking significant positive drivers, with strong market caution. Alibaba -W rose 0.13%, with the latest transaction price at HKD 153.00, and a transaction volume of HKD 8.708 billion, leading the market in transaction volume, but the increase was limited, with funds remaining cautious. JD.com -SW rose 2.73%, and Miniso rose 0.27%, indicating internal differentiation in retail.
▪ The internet content and information sector performed the strongest, with a broad-based increase, driven by growing tech demand leading to active capital inflow. Tencent Holdings rose 2.08%, with the latest transaction price at HKD 637.50 and a transaction volume of HKD 8.012 billion; Kuaishou -W rose 3.26%, with the latest transaction price at HKD 76.00 and a transaction volume of HKD 2.653 billion. Baidu -SW rose 2.86%, with major internet stocks receiving significant capital favor, becoming the market's main line.
▪ The semiconductor manufacturers sector is in a state of volatile differentiation, with industry prosperity fluctuating. SMIC rose 1.24%, with the latest transaction price at HKD 77.45 and a transaction volume of HKD 4.433 billion, with funds in a wait-and-see attitude. Hua Hong Semiconductor rose 2.32%, while Wall Street Technology fell sharply by 5.12%, with funds avoiding companies with large short-term fluctuations, preferring stable leading targets.
Macroeconomic Background
▪ Recently, the dynamics of the Hong Kong stock market have been overall stable, with macroeconomic indicators still pending further announcements. Institutions suggest continuing to pay attention to data on retail, exports, and unemployment rates, as these indicators may have short-term guiding effects on investment sentiment and consumer confidence. Tracking domestic and foreign capital flows and policy adjustments will continue to affect market performance.
Popular Stocks
▪ Different Group (6090.HK) rose 34.46%, with a transaction volume of HKD 28.7189 million. So far, there has been no major news disclosed, but its significant rise has attracted short-term incremental funds from the market, with high turnover rates and active capital speculation.
▪ Xiaoyu Yingtong (139.HK) rose 23.33%, with a transaction volume of HKD 8.2633 million. The company's news front is stable, with short-term funds flowing in opportunistically, possibly creating a market sentiment for speculative trading.
▪ Aoda Holdings (9929.HK) rose 22.73%, with a transaction volume of HKD 12.2522 million, showing significant price fluctuations, with funds focusing on high-volatility stocks for speculative opportunities
▪ JiuFang ZhiTou Holdings (9636.HK) rose 17.07%, with a transaction volume of HKD 399 million, becoming active in the short term under strong capital push, with no significant announcements disclosed behind it.
▪ Zhejiang Shibao (1057.HK) rose 13.50%, with a transaction volume of HKD 295 million, with capital concentrated in flow, and the market theme effect is obvious, leading to high investor sentiment.
Market Transaction Volume TOP10
▪ Alibaba -W (9988.HK) latest transaction price HKD 153.00, up 0.13%, transaction volume HKD 8.708 billion
▪ Tencent Holdings (700.HK) latest transaction price HKD 637.50, up 2.08%, transaction volume HKD 8.012 billion
▪ SMIC (981.HK) latest transaction price HKD 77.45, up 1.24%, transaction volume HKD 4.433 billion
▪ Ping An Insurance (2318.HK) latest transaction price HKD 72.10, up 5.10%, transaction volume HKD 4.228 billion
▪ Xiaomi Group -W (1810.HK) latest transaction price HKD 38.94, down 1.02%, transaction volume HKD 3.700 billion
▪ Meituan -W (3690.HK) latest transaction price HKD 107.40, up 1.90%, transaction volume HKD 2.979 billion
▪ Kuaishou -W (1024.HK) latest transaction price HKD 76.00, up 3.26%, transaction volume HKD 2.653 billion
▪ China Life (2628.HK) latest transaction price HKD 31.08, up 4.23%, transaction volume HKD 2.392 billion
▪ Zijin Mining (2899.HK) latest transaction price HKD 38.46, up 5.02%, transaction volume HKD 2.379 billion
▪ HuaHong Semiconductor (1347.HK) latest transaction price HKD 85.95, up 2.32%, transaction volume HKD 2.306 billion

As of noon, the three major indices of the Hong Kong stock market rebounded collectively, with the Hang Seng Index rising by 1.78% and the Technology Index increasing by 2.21%, boosting market sentiment. The internet content and information sector performed the strongest, with Tencent and Kuaishou leading the gains; the retail and semiconductor sectors showed divergence, with Alibaba and Semiconductor Manufacturing International Corporation maintaining slight increases, while Wall Street Technology fell sharply. Funds remain concentrated in technology and leading stocks, making the market active. The macroeconomic environment is stable, and investors are focused on subsequent data and policy guidance

- As of midday, the Hong Kong stock market saw a collective rebound with the Hang Seng Index up 1.78% to 26,801.69 points, although it remains below its November 2023 peak.  
- Key sectors showed mixed performance, with the retail sector unstable and technology stocks like Tencent and Kuaishou seeing notable gains due to increased demand, while semiconductor firms experienced volatility.  
- The overall market sentiment is stable, with institutions recommending monitoring retail, export, and unemployment data for potential short-term investment guidance.

Market Heartbeat

BABA-W

JD-SW

TENCENT

KUAISHOU-W

BIDU-SW

SMIC

HUA HONG SEMI

BIREN TECH

BUTONG GROUP

SMART FISH

SEM HLDGS

JF SMARTINVEST

ZHEJIANG SHIBAO

PING AN

XIAOMI-W

Tencent

Tencent Holdings Limited

Hong Kong Stock Market Mid-Review | The Hang Seng Index rose 1.78%, with the internet content and information sector leading the gains. Tencent rose 2.08%, and Kuaishou rose 3.26%