Market Overview
▪ As of noon, the main indices of the Hong Kong stock market maintained an upward trend.
▪ The Hang Seng Index closed at 26,456.22 points at noon, up 0.86%.
▪ The Hang Seng TECH Index closed at 5,805.57 points at noon, with an increase of 2.07%.
▪ The National Enterprises Index closed at 9,146.61 points at noon, up 1.08%.
Sector Performance
▪ The retail sector performed strongly during the session, driven by expectations of a consumption recovery, with a clear mainline in the sector. Alibaba -W (9988.HK) rose 5.32%, with a transaction volume of HKD 14.442 billion, showing outstanding performance and attracting significant capital attention. JD.com -SW (9618.HK) increased by 2.09%, Miniso (9896.HK) rose by 1.82%, also showing positive performance, indicating that capital is inclined towards retail and leading consumer stocks with high certainty.
▪ The internet content and information sector was active during the session, with the Hang Seng TECH Index strongly driving the sentiment of related stocks. Kuaishou -W (1024.HK) rose 5.62%, with a transaction volume of HKD 3.745 billion, becoming the focus of the sector with a nearly 20% increase since the New Year, stimulated by the overseas expansion of Keling AI; Tencent Holdings (700.HK) rose 2.29%, with a transaction volume of HKD 9.452 billion, and Baidu -SW (9888.HK) increased by 4.08%. Leading technology stocks attracted significant capital inflows, and industry sentiment quickly recovered.
▪ The restaurant service sector rose overall, reflecting the market's expectations for a rebound in consumer demand. Meituan -W (3690.HK) surged 7.31% during the session, with a transaction volume of HKD 7.735 billion, making it the most outstanding leader in market performance. According to capital trends, there was a net inflow of funds into the sector, and Meituan received continuous capital support under the linkage of technology and consumer sectors. Haidilao (6862.HK) rose 2.36%, and Mixue Group (2097.HK) increased by 0.66%.
Macroeconomic Background
▪ The Hong Kong stock market has recently been affected by fluctuations in macroeconomic data, weak year-on-year retail sales, and adjustments in manufacturing PMI, with investors focusing on fluctuations in the RMB exchange rate and changes in foreign exchange reserves.
▪ In the short term, U.S.-China policies and capital flows remain key factors influencing market trends. From the market perspective, capital is more inclined to choose technology growth and core consumer mainlines.
Popular Stocks
▪ MINIMAX-WP (100.HK) rose 30.72%, with a transaction volume of HKD 1.731 billion. As a representative of recent AI-listed companies in the Hong Kong stock market, the company raised an additional HKD 700 million, with a market capitalization exceeding HKD 130 billion, showing high capital activity, and market short-term sentiment is concentrated on high β stocks.
▪ Zhiyu (2513.HK) rose 31.90%, with a transaction volume of HKD 832 million, showing bright performance during the session. Zhiyu has reached a strategic cooperation with Didi to jointly explore the implementation of travel Agent scenarios. The company's increase has continued to expand since its listing three days ago, indicating that capital is chasing popular tracks, with a significant short-term capital driving effect
▪ LFG Investment Holdings (3938.HK) rose by 120.27%, with a trading volume of HKD 67.4702 million, showing an outstanding increase. The company received a takeover offer after resuming trading, attracting short-term speculative funds.
▪ Weimob Group (2013.HK) increased by 22.89%, with a trading volume of HKD 1.231 billion. The company is also related to AI and has launched the GEO solution, enhancing its &#34;AI + marketing&#34; layout, which has garnered funding support, reflecting the market's high-risk preference for active stocks in the technology and internet sectors.
Market Trading Volume TOP10
▪ Alibaba -W (9988.HK) latest trading price HKD 154.30, increase of 5.32%, trading volume HKD 14.442 billion
▪ Tencent Holdings (700.HK) latest trading price HKD 625.00, increase of 2.29%, trading volume HKD 9.452 billion
▪ Meituan -W (3690.HK) latest trading price HKD 105.70, increase of 7.31%, trading volume HKD 7.735 billion
▪ Xiaomi Group -W (1810.HK) latest trading price HKD 38.04, increase of 0.58%, trading volume HKD 3.747 billion
▪ Kuaishou -W (1024.HK) latest trading price HKD 78.90, increase of 5.62%, trading volume HKD 3.745 billion
▪ Ping An Insurance (2318.HK) latest trading price HKD 68.55, decrease of 2.07%, trading volume HKD 2.695 billion
▪ SMIC (981.HK) latest trading price HKD 74.35, decrease of 0.07%, trading volume HKD 2.583 billion
▪ Hua Hong Semiconductor (1347.HK) latest trading price HKD 90.95, decrease of 0.33%, trading volume HKD 1.840 billion
▪ SenseTime -W (20.HK) latest trading price HKD 2.58, increase of 4.45%, trading volume HKD 1.749 billion
▪ Goldwind Technology (2208.HK) latest trading price HKD 17.51, increase of 5.04%, trading volume HKD 1.733 billion

As of noon, the main indices of the Hong Kong stock market rose collectively, with the Hang Seng Index up 0.86% and the Hang Seng TECH Index up 2.08%. Sectors such as retail, internet content and information, and restaurants showed broad strength, with leading companies like Meituan, Alibaba, and Kuaishou leading the gains. Market funds clearly favored the technology and consumer sectors. Fluctuations in macroeconomic data and the exchange rate of the Renminbi have become the focus of attention, and future trends will need to observe capital flows and policy changes

- As of noon, major Hong Kong stock indices remained on an upward trend, with the Hang Seng Index up 0.86% at 26,456.22 points.  
- The retail sector showed strong performance, driven by consumption recovery expectations, with Alibaba (9988.HK) rising 5.32% and Meituan (3690.HK) up 7.31%.  
- Investors are closely monitoring macroeconomic data and focusing on technology growth and core consumer stocks amidst fluctuations in currency rates and policies affecting market trends.

Market Heartbeat

Hang Seng TECH Index

BABA-W

JD-SW

MNSO

KUAISHOU-W

TENCENT

BIDU-SW

MEITUAN

HAIDILAO

MIXUE GROUP

MINIMAX-WP

KNOWLEDGE ATLAS

LFG INV HLDGS

WEIMOB INC

XIAOMI-W

Alibaba

Meituan

Hong Kong Stock Market Mid-Review | Hang Seng TECH Index rises 2.07%, Meituan up 7.31% leading the way, retail and internet sectors strong, Alibaba and Kuaishou both up over 5%