Market Overview
▪ As of noon, the three major indices of the Hong Kong stock market showed mixed trends.
▪ The Hang Seng Index closed at 26,158.21 points at noon, up 0.03%, still away from the peak reached on January 6, maintaining a high-level fluctuation pattern in the short term.
▪ The Hang Seng Tech Index closed at 5,674.78 points at noon, down 0.06%, having retreated from the new high reached on January 6.
▪ The National Enterprises Index reported 9,042.8 points at noon, with an increase of 0.04%, also failing to break through the previous high, showing overall stability.
Sector Performance
▪ The retail sector performed prominently during the session, showing an upward trend. Within the sector, Alibaba -W rose 2.81%, with a transaction volume of HKD 11.446 billion, JD.com -SW rose 2.95%, with a transaction volume of HKD 783 million, and Miniso rose 1.84%, with a transaction volume of HKD 73 million. Major leading stocks drove the sector stronger, with funds concentrating on top stocks, and market attention on leading retail companies increased, showing a clear structural rebound.
▪ The internet content and information sector showed divergence during the session, with increased internal volatility. Kuaishou -W rose 2.85%, with a transaction volume of HKD 1.779 billion, attracting active fund follow-up. Tencent Holdings fell 0.73%, with a transaction volume of HKD 5.814 billion, and Baidu -SW fell 2.28%, with a transaction volume of HKD 1.021 billion. Overall, the sector's fund preferences diverged, with investors focusing in the short term on leading companies with outstanding performance or themes.
▪ The restaurant sector overall corrected during the session. Meituan -W fell 2.38%, with a transaction volume of HKD 3.771 billion, Xicha Group fell 2.87%, with a transaction volume of HKD 199 million, and Haidilao fell 0.43%, with a transaction volume of HKD 111 million. The restaurant industry was affected by weak consumer demand, with funds showing a certain risk-averse sentiment, and mainstream leaders generally under pressure, with a clear outflow of funds from the sector.
Macroeconomic Background
▪ The Hong Kong stock market has recently focused on fluctuations in economic data, consumption, and export performance, with corporate profit expectations and capital flows significantly affecting market sentiment.
▪ The policy direction in the mainland and the external macro environment also constitute major focal points, and investors need to closely track changes in macro indicators.
Popular Stocks
▪ Gongsheng Zhizhu (627.HK) rose 40.48% during the session, with a transaction volume of HKD 17.71 million. Although there are no significant news disclosures, the notable intraday fluctuations attracted rapid capital inflow, creating a strong short-term speculative atmosphere.
▪ Jiangsu Hongxin (2625.HK) rose 23.99% during the session, with a transaction volume of HKD 8.41 million, with prominent capital intervention, and market attention rapidly increased, with no significant event catalysts.
▪ Asia-Pacific Satellite (1045.HK) rose 15.62% during the session, with a transaction volume of HKD 169 million, showing high volatility, with capital highly active, and no announcements regarding the reasons for the fluctuations, investors need to be cautious of short-term risks
▪ Gensun Pharma -B (2595.HK) rose 16.90% during the session, with a trading volume of HKD 78.59 million, driven mainly by short-term speculation influenced by liquidity, without any new positive news.
▪ Zhiyu (2513.HK) rose 14.90% during the session, with a trading volume of HKD 725 million. There are clear signs of capital chasing, but no public positive news behind the unusual movement, and investors need to closely monitor trading risks.
Market Trading Volume TOP10
▪ Alibaba -W (9988.HK) latest trading price HKD 146.60, up 2.81%, trading volume HKD 11.446 billion
▪ Tencent Holdings (700.HK) latest trading price HKD 611.50, down 0.73%, trading volume HKD 5.814 billion
▪ Meituan -W (3690.HK) latest trading price HKD 98.60, down 2.38%, trading volume HKD 3.771 billion
▪ SMIC (981.HK) latest trading price HKD 73.85, down 1.47%, trading volume HKD 3.299 billion
▪ Goldwind Technology (2208.HK) latest trading price HKD 17.04, up 5.71%, trading volume HKD 2.725 billion
▪ Xiaomi Group -W (1810.HK) latest trading price HKD 37.86, down 0.42%, trading volume HKD 2.180 billion
▪ Kuaishou -W (1024.HK) latest trading price HKD 73.95, up 2.85%, trading volume HKD 1.779 billion
▪ Ping An Insurance (2318.HK) latest trading price HKD 69.85, down 0.5%, trading volume HKD 1.663 billion
▪ Hua Hong Semiconductor (1347.HK) latest trading price HKD 90.75, down 0.98%, trading volume HKD 1.334 billion
▪ China Petroleum &amp; Chemical Corporation (386.HK) latest trading price HKD 4.70, up 0.64%, trading volume HKD 1.329 billion

As of noon, the three major indices of the Hong Kong stock market showed mixed performance, with the Hang Seng Index and the Technology Index fluctuating slightly, and the market experiencing high-level volatility. The retail sector rose strongly, led by giants like Alibaba and JD.com, with trading activity significantly increased. The internet content sector showed internal differentiation, with Kuaishou rising against the trend, while Tencent Holdings experienced a pullback. The restaurant sector faced overall pressure, with Meituan declining sharply, and market funds focused on the performance of leading stocks. Some individual stocks showed significant intraday fluctuations, with market hotspots continuously switching, and overall sentiment influenced by consumption, export data, and the macroeconomic environment

- As of midday, Hong Kong's stock indices showed mixed results with the Hang Seng Index slightly up 0.03% and remaining below the recent peak.  
- The retail sector performed well, led by Alibaba and JD.com, while the internet content and information sector displayed increased volatility amidst varying investor preferences.  
- Macroeconomic factors, including economic data fluctuations and external policies, are crucial for market sentiment, as individual stocks like Gongsheng Zhizhu saw significant increases despite lacking clear catalysts.

Market Heartbeat

BABA-W

MEITUAN

JD-SW

MNSO

KUAISHOU-W

TENCENT

BIDU-SW

MIXUE GROUP

VISION SYNERGY

JIANGSU HORIZON

APT SATELLITE

GENFLEET-B

KNOWLEDGE ATLAS

SMIC

GOLDWIND

Alibaba

Meituan

Hong Kong Stock Market Mid-Review | The Hang Seng Index fluctuates with the retail sector leading the rise, Alibaba up 2.81% and Meituan down 2.38%