Market Overview
▪ The main indices of the Hong Kong stock market showed a mixed performance during the trading session. As of now, the three major indices have temporarily pulled back after reaching a short-term high, presenting a narrow fluctuation pattern overall.
▪ The Hang Seng Index fluctuated slightly during the session, currently reported at 26,573.61 points, down 0.04%. It has slightly retreated from the recent high, showing clear signs of short-term high-level adjustments.
▪ The Hang Seng Tech Index reported 5,732.79 points during the session, down 0.24%.
▪ The China Enterprises Index reported 9,095.6 points during the session, down 0.3%. After reaching a new short-term high in the previous trading days, it has now pulled back and is maintaining a range consolidation.
Sector Performance
▪ The internet content and information sector showed significant divergence during the session, with leading companies experiencing fluctuations and market news being light. Tencent Holdings fell 0.66% during the session, with a trading volume of HKD 12.08 billion, facing short-term pressure as a leading company, while Baidu -SW rose against the trend by 3.38%, with a trading volume of HKD 2.728 billion. Kuaishou -W remained flat, with capital attention showing divergence. Overall, investors are rotating among internet leaders in the short term, leading to differentiated capital flows.
▪ The retail sector performed relatively strong during the session, with widespread increases, as improved consumer demand expectations acted as a catalyst. Within the sector, Alibaba -W rose slightly by 0.31%, with a trading volume of HKD 6.905 billion, JD -SW rose by 0.80%, with a trading volume of HKD 512 million, and Miniso rose by 0.67%. The sector benefited from the recovery of consumer confidence and capital favor, leading to increased activity.
▪ The semiconductor manufacturers sector rebounded strongly during the session, becoming the market's main line. TianShuZhiXin surged by 15.90%, with a trading volume of HKD 691 million, making it the stock with the largest increase in the sector. Hua Hong Semiconductor rose by 2.55%, with a trading volume of HKD 2.386 billion; SMIC fell slightly by 0.58%, with a trading volume of HKD 3.257 billion. Some new stocks and leading companies in independent innovation within the sector continued to attract capital, becoming one of the most active tracks during the session.
Macroeconomic Background
▪ The Hong Kong stock market has recently been influenced by changes in foreign exchange reserves, PMI, and unemployment rate trends, with a tug-of-war between weak external demand and the recovery of internal demand, leading to a divergence in macro data performance. Investors need to pay close attention to the rebound in imports and exports as well as retail during the session, as capital has gradually shifted towards sectors with stable performance and policy benefits, highlighting structural opportunities.
Popular Stocks
▪ TianShuZhiXin (9903.HK) rose by 16.13% during the session, with a trading volume of HKD 690 million. The company previously listed on the Hong Kong Stock Exchange in collaboration with IM Motors, becoming the first company in China to achieve large-scale production and application of 7nm general-purpose GPUs, with a first-day increase of up to 31.54%. The strong performance of TianShuZhiXin highlights the market's enthusiasm for high-performance computing and domestic alternative hard-tech assets, with both sector valuation and capital benefiting from the expected performance release of the AI industry chain.
▪ RunGe Interactive (2422.HK) rose by 29.47% during the session, with a trading volume of HKD 10.3943 million. Previously, it surged by 64.29% in a single day due to a late-session volume increase, and current market sentiment is high, with the unusual movement closely related to the rebound in the valuation of the internet industry sector, leading to a significant increase in short-term capital activity
▪ Shifang Holdings (1831.HK) rose 20.75% during the session, with a transaction amount of HKD 42.7333 million. Recently, there has been a continuous net inflow of main funds, but no significant changes in fundamentals. This round of strength is mainly supported by speculation from retail investors and a small-cap speculative atmosphere, and investors need to pay attention to short-term volatility risks.
▪ Junda Co., Ltd. (2865.HK) rose 14.48% during the session, with a transaction amount of HKD 396 million. The company’s latest announcement states that it will issue new H shares based on general authorization, with a placement price of HKD 22 per share. It is expected that the fundraising will optimize the capital structure and layout globally, but in the short term, the stock price is dragged down by the news of expected performance losses, leading to increased price volatility.
▪ Hongji Group Holdings (1718.HK) rose 48.07% during the session, with a transaction amount of HKD 9.5055 million. The company’s interim performance has significantly improved, turning from a net loss to a profit, and the stock price has recovered its market value since the beginning of the year, attracting more funds' attention.
Market Transaction Amount TOP10
▪ Tencent Holdings (00700.HK) latest transaction price HKD 598.00, down 0.75%, transaction amount HKD 12.038 billion
▪ Alibaba -W (09988.HK) latest transaction price HKD 163.70, up 0.31%, transaction amount HKD 6.905 billion
▪ SMIC (00981.HK) latest transaction price HKD 76.80, down 0.58%, transaction amount HKD 3.255 billion
▪ Xiaomi Group -W (01810.HK) latest transaction price HKD 34.96, down 1.30%, transaction amount HKD 3.202 billion
▪ Baidu -SW (09888.HK) latest transaction price HKD 158.90, up 3.38%, transaction amount HKD 2.727 billion
▪ Nanshan Aluminum International (02610.HK) latest transaction price HKD 63.80, down 7.40%, transaction amount HKD 2.581 billion
▪ Pop Mart (09992.HK) latest transaction price HKD 205.60, up 5.76%, transaction amount HKD 2.567 billion
▪ Meituan -W (03690.HK) latest transaction price HKD 96.85, down 0.46%, transaction amount HKD 2.422 billion
▪ Hua Hong Semiconductor (01347.HK) latest transaction price HKD 108.40, up 2.46%, transaction amount HKD 2.380 billion
▪ China National Offshore Oil Corporation (00883.HK) latest transaction price HKD 22.86, up 3.07%, transaction amount HKD 2.225 billion

The three major indices of the Hong Kong stock market experienced an overall pullback during the trading session, with the Hang Seng Index, Hang Seng Tech Index, and the National Enterprises Index all retreating from their recent highs, maintaining a narrow range of fluctuations. Structurally, the semiconductor sector performed the best, with ILUVATAR COREX surging and HUA HONG SEMI also strengthening. The performance of internet giants showed divergence, with Tencent Holdings declining during the session while Baidu rose against the trend. Retailers showed relatively strong performance, with funds favoring the main lines of semiconductor innovation and consumer rebound, leading to significant short-term sector rotation. Trading activity was concentrated on heavyweight stocks such as Tencent Holdings, Alibaba, and SMIC, with investors focusing on structural opportunities driven by import and export as well as domestic demand recovery

- The Hong Kong stock market saw mixed performances among major indices, with the Hang Seng Index at 26,573.61 points, down 0.04%.  
- The technology and retail sectors exhibited divergent trends, with notable gains in semiconductor stocks, particularly Tensun Intelligent Technology, which rose 15.90%.  
- Investors shifted focus towards stable performance and policy-driven sectors amidst fluctuating macroeconomic indicators like PMI and unemployment rates.

Market Heartbeat

ILUVATAR COREX

HUA HONG SEMI

JD-SW

BABA-W

MNSO

TENCENT

BIDU-SW

KUAISHOU-W

SMIC

REGO INTERACT

SHIFANG HLDG

DRINDA

WAN KEI GROUP

China Southern CSI Semiconductor Industry Custom ETF

Hua Hong

Guotai CSI All Share Integrated Circuit ETF

Guotai CES Semiconductor Chip Industry ETF

GTJA Allianz CSI All Share Semiconductors & Semiconductor Equipment ETF

Hong Kong stocks intraday | The semiconductor sector leads the gains, ILUVATAR COREX rises over 15%, Hang Seng Index fluctuates and adjusts