Market Overview
▪ In the Hong Kong stock market, the three major indices showed mixed performance. As of now, the Hang Seng Index is at 26,757.01 points, up 0.56% during the session, but has not yet broken through the two-month high, still some distance from the intraday high of November 13 last year.
▪ The Hang Seng Tech Index performed weakly today, reporting 5,841.08 points during the session, down 0.38%. After reaching a new short-term high yesterday, it has seen some pullback and is experiencing short-term high-level fluctuations.
▪ The China Enterprises Index reported 9,250.02 points during the session, up 0.32%, still having some space to the previous high point, currently oscillating within a range.
Sector Performance
▪ The retail sector performed well during the session, maintaining an overall upward trend. Consumer demand has driven continuous capital inflow into the sector, with Alibaba -W (9988.HK) rising 2.40% and a transaction volume of HKD 19.617 billion. Under capital pursuit, JD.com -SW (9618.HK) rose slightly by 0.26%, while Miniso (9896.HK) performed poorly, falling 2.56%, indicating relative capital differentiation. The leading retailers and industry representatives formed a seesaw effect, but overall capital is focused on top enterprises.
▪ The internet content and information sector showed mixed trends during the session, with major leading companies experiencing ups and downs. Tencent Holdings (700.HK) rose 0.48% with a transaction volume of HKD 10.915 billion, while Kuaishou -W (1024.HK) fell 2.93%, and Baidu -SW (9888.HK) dropped 1.38%. The sector lacks a unified driver, with some leaders favored by capital while others show significant capital outflow, reflecting short-term games within the sector.
▪ The hardware, storage, and peripherals sector overall performed weakly, with ratings and earnings expectations affecting investor sentiment. Xiaomi Group -W (1810.HK) fell 2.01% with a transaction volume of HKD 5.969 billion, Lenovo Group (992.HK) slightly dropped 0.67%, and Legend Holdings (3396.HK) fell 0.65%. The sector is under overall pressure, with capital flowing towards defensive positions.
Macroeconomic Background
▪ Recently, the Hong Kong stock market has focused on economic growth, CPI, import and export performance, and PMI. Affected by external uncertainties and local consumption fluctuations, investors are closely monitoring retail, trade, and manufacturing trends, as well as capital flows and unemployment rates. Short-term market structural changes are closely related to macro-level factors, with sector performance showing differentiation, and investor sentiment becoming more cautious and dispersed.
Popular Stocks
▪ Ark Health (6086.HK) surged 68.35% during the session, with a transaction volume of HKD 57.8 million. Although there are no new disclosures, there are clear signs of capital pursuit, showing strong short-term activity, with significant attention from main capital.
▪ Hejia Holdings (704.HK) rose 68.46% during the session, with a transaction volume of HKD 4.002 million. Despite no major news, capital leveraged the situation, leading to significant short-term gains.
▪ Yiyuan Wine Industry (8146.HK) rose 25.45% during the session, with a transaction volume of HKD 10.5041 million, as overall market attention increased, with active capital driving stock price fluctuations
▪ Zhongtian Hongxin (994.HK) rose 27.78% during the session, with a transaction amount of HKD 4.8311 million, showing significant signs of short-term speculative trading.
▪ XunCe (3317.HK) rose 20.38% during the session, with a transaction amount of HKD 24.8386 million, indicating short-term capital inflow, which stimulated the stock price to strengthen significantly, becoming one of the sector's hotspots.
Market Transaction Amount TOP10
▪ Alibaba -W (9988.HK) latest transaction price HKD 157.80, up 2.27%, transaction amount HKD 19.573 billion
▪ Tencent Holdings (700.HK) latest transaction price HKD 625.00, up 0.32%, transaction amount HKD 10.895 billion
▪ Xiaomi Group -W (1810.HK) latest transaction price HKD 37.92, down 2.12%, transaction amount HKD 5.928 billion
▪ Kuaishou -W (1024.HK) latest transaction price HKD 77.85, down 2.99%, transaction amount HKD 4.199 billion
▪ Meituan -W (3690.HK) latest transaction price HKD 104.30, down 0.67%, transaction amount HKD 3.911 billion
▪ SMIC (981.HK) latest transaction price HKD 74.05, down 1.66%, transaction amount HKD 3.648 billion
▪ BYD Company (1211.HK) latest transaction price HKD 97.15, up 1.52%, transaction amount HKD 3.102 billion
▪ Goldwind Technology (2208.HK) latest transaction price HKD 15.68, down 9.47%, transaction amount HKD 2.648 billion
▪ Ping An Insurance (2318.HK) latest transaction price HKD 69.70, up 1.75%, transaction amount HKD 2.571 billion
▪ Jingtai Holdings (2228.HK) latest transaction price HKD 13.29, up 2.63%, transaction amount HKD 2.568 billion

As of midday, the main indices of the Hong Kong stock market showed divergence, with the Hang Seng Index rising slightly by 0.56%, while the Hang Seng Tech Index experienced a slight pullback, with mainline funds focusing on leading retail and technology stocks. Alibaba rose by 2.40% during the session, while Xiaomi Group saw a significant decline, with the hardware sector overall under pressure. Hot stocks in consumption and pharmaceuticals showed significant fluctuations, indicating a clear structural divergence in the market

- The Hong Kong stock market shows mixed performance, with the Hang Seng Index up 0.56% but still below its recent highs.  
- Retail stocks are performing well, driven by consumer demand, while internet content firms exhibit mixed results, and hardware stocks are generally weaker.  
- Attention remains on economic indicators and market sentiment, reflecting cautious investor behavior amid external uncertainties.

Market Heartbeat

BABA-W

JD-SW

MNSO

TENCENT

KUAISHOU-W

BIDU-SW

XIAOMI-W

LENOVO GROUP

LEGENDHOLDING

FANGZHOU JIANKE

HUSCOKE HLDGS

GRACEWINE

CT VISION

XUNCE

MEITUAN

Alibaba

Hong Kong stock market intraday | Hang Seng Index up 0.56%, retail sector leads the rise, Alibaba up 2.40%, Xiaomi Group down 2.01%