Market Overview
▪ During the trading session, the three major indices of the Hong Kong stock market rose collectively, with overall market sentiment being strong.
▪ As of now, the Hang Seng Index is at 26,772.61 points, up 1.61%, still not breaking through the peak since November 13, 2025, and remains in a high range for the past two months.
▪ The Hang Seng Tech Index is currently at 5,853 points, up 1.94%, also not refreshing its high since November 13, 2022, and continues to maintain a strong performance.
▪ The Hang Seng China Enterprises Index latest reports at 9,275.24 points, up 1.39%, still some distance from the peak since November 17, 2025.
Sector Performance
▪ The retail sector showed mixed fluctuations during the session, with clear market divergence. Alibaba -W fell 0.85% during the session, with a transaction volume of HKD 12.38 billion, indicating some capital outflow. JD.com -SW rose 2.37%, with a transaction volume of HKD 790 million; Miniso rose 2.13%, with a transaction volume of HKD 83 million, showing relatively stable performance. Overall, more funds flowed into actively performing stocks, with divergence among the leaders, indicating ongoing competition as investors switch styles.
▪ The internet content and information sector performed strongly during the session, becoming the main focus of capital. Tencent Holdings rose 1.60%, with a transaction volume of HKD 10.603 billion, solidifying its leading position. Kuaishou -W surged 3.46%, with a transaction volume of HKD 3.268 billion, attracting significant short-term capital attention. Baidu -SW rose 2.09% during the session, with a transaction volume of HKD 1.379 billion. Overall, the leading internet content stocks drove a continuous warming atmosphere in the sector, with capital favoring core assets within the sector.
▪ The semiconductor manufacturers sector showed mixed performance during the session, with overall sentiment being cautious. SMIC fell slightly by 0.13%, with a transaction volume of HKD 6.142 billion, indicating that large funds are observing the market. Hua Hong Semiconductor rose 1.37%, with active trading; Wall Street Technology fell 5.60%, reflecting ongoing capital diversion and significant fluctuations within the sector. This sector is currently characterized by capital chasing local quality targets, with a coexistence of risk aversion and rotation.
Macroeconomic Background
▪ The Hong Kong stock market has recently focused on the year-on-year rebound in imports and exports, moderate improvement in PMI, and stable increase in foreign exchange reserves, which provide certain economic resilience to the Hong Kong stock market. Changes in retail sales data and unemployment rates continue to be important barometers for investors' risk appetite and consumer confidence. In the short term, the moderate stabilization of the macroeconomic environment supports the current oscillating upward pattern of the Hong Kong stock market to some extent.
Popular Stocks
▪ Different Group (6090.HK) surged 31.15% during the session, with a transaction volume of HKD 39.4847 million. Main capital concentrated inflow drove the stock price to rise strongly, with no new news catalysts currently, focusing on changes in trading heat.
▪ Aoda Holdings (9929.HK) rose 33.33% during the session, with a transaction volume of HKD 19.7432 million, with an increased turnover rate, indicating obvious short-term capital speculation, with no major news disclosed during the session, and market sentiment dominating short-term trends
▪ JiuFang ZhiTou Holdings (9636.HK) rose 19.77% during the session, with a transaction volume of HKD 539 million, significant capital inflow, and a strong market speculation atmosphere, currently with no new announcements.
▪ Zhejiang Shibao (1057.HK) rose 19.37% during the session, with a transaction volume of HKD 510 million, short-term activity increased, focusing on the sustainability of capital.
▪ Tianrui Automotive Interior (6162.HK) rose 34.85% during the session, with a transaction volume of HKD 6.4121 million, becoming one of the most active small-cap stocks during the session, driven by chasing funds.
Market Transaction Volume TOP10
▪ Alibaba -W (9988.HK) latest transaction price HKD 151.50, down 0.85%, transaction volume HKD 12.374 billion
▪ Tencent Holdings (700.HK) latest transaction price HKD 634.00, up 1.52%, transaction volume HKD 10.602 billion
▪ SMIC (981.HK) latest transaction price HKD 76.35, down 0.20%, transaction volume HKD 6.141 billion
▪ Ping An Insurance (2318.HK) latest transaction price HKD 72.05, up 5.03%, transaction volume HKD 5.818 billion
▪ Xiaomi Group -W (1810.HK) latest transaction price HKD 38.86, down 1.22%, transaction volume HKD 5.238 billion
▪ Meituan -W (3690.HK) latest transaction price HKD 107.10, up 1.61%, transaction volume HKD 3.798 billion
▪ Kuaishou -W (1024.HK) latest transaction price HKD 76.10, up 3.40%, transaction volume HKD 3.268 billion
▪ Hong Kong Stock Exchange (388.HK) latest transaction price HKD 433.20, up 3.09%, transaction volume HKD 3.093 billion
▪ Zijin Mining (2899.HK) latest transaction price HKD 38.26, up 4.48%, transaction volume HKD 3.087 billion
▪ China Life (2628.HK) latest transaction price HKD 31.12, up 4.36%, transaction volume HKD 3.008 billion

The three major indices of the Hong Kong stock market rose collectively during the session, with the Hang Seng Index reporting 26,772.61 points, an increase of 1.61%, and the Hang Seng Tech Index rising by 1.94%. There was a clear sector differentiation, with the internet content and information sector performing the strongest, as leading stock Kuaishou-W rose by 3.46%, and Tencent Holdings increased by 1.60%; the retail and semiconductor sectors showed mixed performance, with Alibaba-W slightly down and SMIC experiencing a minor pullback. Various groups, including Tianrui Automotive's interior and other popular stocks, saw significant gains, with capital flows clearly focusing on hot trends. Macroeconomic data continues to improve, boosting investor confidence

- Hong Kong stocks exhibited strong performance with the Hang Seng Index rising by 1.61% to 26,772.61 points, though it hasn't yet surpassed the peak from November 2025.  
- Various sectors showed mixed results, notably with retail and semiconductor stocks experiencing divergences in performance, while internet content stocks attracted significant investments.  
- Macroeconomic factors such as improved import-export rates and stable PMI readings provided economic resilience to the Hong Kong market, supporting current upward trends.

Market Heartbeat

BABA-W

JD-SW

MNSO

TENCENT

KUAISHOU-W

BIDU-SW

SMIC

HUA HONG SEMI

BIREN TECH

BUTONG GROUP

SEM HLDGS

JF SMARTINVEST

ZHEJIANG SHIBAO

TR INTERIORS

Tencent

Tencent Holdings Limited

Hong Kong stock market intraday | The Hang Seng Index rose 1.61% during the session, with the internet content sector leading the gains, Kuaishou-W rose 3.46% with active capital