Market Overview
▪ As of January 21, 2026, during trading hours, the three major indices of the Hong Kong stock market are all experiencing narrow fluctuations.
▪ The Hang Seng Index is currently at 26,526.35 points, up 0.15%.
▪ The Hang Seng Tech Index is at 5,715.33 points, up 0.56%.
▪ The National Enterprises Index is at 9,105.39 points, up 0.12%.
Sector Performance
▪ The retail sector shows mixed performance during trading hours, with a noticeable wait-and-see sentiment in the market. Alibaba -W is up 1.38% with a transaction volume of HKD 3.183 billion, showing significant capital inflow and is a focus of investor attention. JD.com -SW is up 0.09% with a transaction volume of HKD 358 million, while Miniso is slightly down 0.10%. There is a clear structural differentiation within the sector, indicating a cautious attitude from investors regarding consumer demand.
▪ The internet content and information sector is performing strongly overall, with leading stock Tencent Holdings up 0.25% and a transaction volume of HKD 2.468 billion; Baidu -SW is up 3.29%, and Kuaishou -W is up 0.85%, both recording capital inflows, indicating active funding in the tech growth sector and investor focus on structural opportunities arising from industry improvement.
▪ The engineering machinery and heavy transport equipment sector maintains an upward trend, with China National Heavy Duty Truck Group up 1.33% and a transaction volume of HKD 2.31 billion, SANY International up 1.71%, and Weichai Power up 0.58%. The engineering machinery sector steadily attracts capital, benefiting from optimistic expectations for infrastructure and heavy equipment demand, with leading stocks driving overall sector performance.
Macroeconomic Background
▪ Recently, the Hong Kong stock market is focused on fluctuations in macroeconomic data, retail consumption, and export performance. External factors are impacting capital market volatility, and investors are closely monitoring economic recovery momentum and policy expectations. Market risk appetite is gently recovering, with a focus on growth and defensive sectors becoming the main line for capital, increasing market volatility.
Popular Stocks
▪ Skyworth Group (751.HK) surged 32.82% during trading hours, with a transaction volume of HKD 291 million. The company announced plans for privatization and delisting, as well as a spin-off of its photovoltaic business for listing, with the board resolving to introduce photovoltaic shares for listing and involving cash options. The business restructuring news significantly boosts market confidence, with substantial capital inflow driving the stock price to strengthen continuously, becoming the biggest dark horse of the day, potentially demonstrating a revaluation effect for similar assets in the industry.
▪ TCL Electronics (1070.HK) rose 13.96% during trading hours, with a transaction volume of HKD 397 million. The company announced the establishment of a joint venture with Sony and the acquisition of Sony's television business, leading to a surge at the opening and reaching a 20-year high, with active capital participation. The market is optimistic about the company's global competitiveness in color TVs and the synergy of new business, driving the stock price to continue rising.
▪ Zhaoyi Innovation (3986.HK) rose 11.70% during trading hours, with a transaction volume of HKD 298 million. The company completed its A+H dual-platform listing, with the capital market highly recognizing its storage and control chip business. The listing on the Hong Kong stock market further enhances the company's globalization and capital strength, leading to a warming of the Chinese semiconductor sector and attracting substantial buying interest
▪ MicroPort Scientific Corporation -B (2252.HK) rose 12.97% during the session, with a transaction amount of HKD 260 million. The company's core product orders have exceeded 230 units, and the continuous growth in orders is driving an acceleration in installations. Capital is optimistic about its profitability in the high-end medical device sector, and improved performance expectations are leading to increased funding.
Market Transaction Amount TOP10
▪ Alibaba -W (09988.HK) latest transaction price HKD 161.90, up 1.38%, transaction amount HKD 3.182 billion
▪ Tencent Holdings (00700.HK) latest transaction price HKD 602.50, up 0.25%, transaction amount HKD 2.468 billion
▪ China National Heavy Duty Truck Group (03808.HK) latest transaction price HKD 30.40, up 1.33%, transaction amount HKD 2.310 billion
▪ Semiconductor Manufacturing International Corporation (00981.HK) latest transaction price HKD 77.20, up 3.62%, transaction amount HKD 2.258 billion
▪ Xiaomi Group -W (01810.HK) latest transaction price HKD 35.10, down 1.07%, transaction amount HKD 2.115 billion
▪ Anta Sports (02020.HK) latest transaction price HKD 78.10, down 5.39%, transaction amount HKD 1.243 billion
▪ Meituan -W (03690.HK) latest transaction price HKD 96.80, down 0.56%, transaction amount HKD 1.086 billion
▪ Hua Hong Semiconductor (01347.HK) latest transaction price HKD 105.50, up 4.87%, transaction amount HKD 945 million
▪ China Mobile (00941.HK) latest transaction price HKD 78.75, down 0.69%, transaction amount HKD 929 million
▪ Pop Mart (09992.HK) latest transaction price HKD 193.10, down 2.08%, transaction amount HKD 812 million

The three major indices of the Hong Kong stock market strengthened collectively during the session, with the Hang Seng Index and Hang Seng TECH Index continuing to rise but not reaching new highs. Market funds flowed into the engineering machinery and internet content and information sectors, while the retail sector showed divergence. SKYWORTH GROUP surged by 32.82%, and TCL ELECTRONICS rose by 13.96%, leading the popular stocks. On the macro front, attention is focused on fluctuations in economic data, with funds favoring growth and defensive allocations. Market sentiment is warming up but still remains cautious

- As of January 21, 2026, Hong Kong stocks showed narrow fluctuations with the Hang Seng Index at 26,526.35 points, reflecting slight gains across indices.  
- Retail and internet content sectors exhibited mixed results, with notable performances from Alibaba and Tencent, while growth in heavy machinery stocks was driven by positive infrastructure demand.  
- Skynor Group surged 32.82% following privatization and business restructuring news, significantly boosting market confidence and leading to strong capital inflows in several technology shares.

Market Heartbeat

BABA-W

JD-SW

MNSO

TENCENT

BIDU-SW

KUAISHOU-W

SINOTRUK

SANY INT'L

WEICHAI POWER

SKYWORTH GROUP

TCL ELECTRONICS

GIGADEVICE

MircroPort Medbot-B

SMIC

XIAOMI-W

Hang Seng TECH Index

ISHARESHSI

HSTECH ETF

Hang Seng TECH ETF I

ChinaAMC Hang Seng Technology ETF(QDII)

Dacheng Hang Seng Technology ETF(QDII)

Hang Seng Index

Tianhong Hang Seng TECH ETF(QDII)

CSOP HS TECH

Hong Kong stocks during the day | The three major indices fluctuated narrowly, SKYWORTH GROUP rose by 32.82%, and TCL ELECTRONICS and the engineering machinery sector attracted capital favor