Market Overview
▪ During intraday trading, the three major indices of the Hong Kong stock market rose collectively, with market sentiment significantly warming.
▪ The Hang Seng Index has risen 2.39% so far, currently reported at 27,774.73 points, successfully refreshing its recent high during the session, demonstrating strong upward momentum.
▪ The Hang Seng Tech Index rose 2.3%, currently reported at 5,886.85 points, still some distance from the peak on January 13, showing short-term strength but not reaching a new high.
▪ The Hang Seng China Enterprises Index rose 2.56% during intraday trading, currently reported at 9,481.15 points, with room to grow compared to the high on November 13 last year, continuing the overall rebound pattern.
Sector Performance
▪ The retail sector rose during intraday trading, with continuous capital inflow, driven by enhanced expectations of consumer recovery and increased activity. Leading company Alibaba -W rose 1.82%, with a transaction volume of HKD 13.395 billion, JD.com -SW rose 1.41%, with a transaction volume of HKD 1.0878 billion, and Miniso rose 1.63%, with a transaction volume of HKD 0.096 billion. Main capital is inclined towards leading e-commerce and brands, reflecting the fundamental recovery logic dominating market trading.
▪ The internet content and information sector performed strongly during intraday trading, with an overall active atmosphere. Tencent Holdings rose 2.31%, with a transaction volume of HKD 11.384 billion, Kuaishou -W rose 4.00%, with a transaction volume of HKD 2.375 billion, and Baidu -SW slightly rose 0.32%, with a transaction volume of HKD 1.370 billion. Industry leaders represented by Tencent benefited from concentrated capital inflow, gradually boosting industry prosperity.
▪ The semiconductor sector saw a significant rise during intraday trading, becoming one of the strongest market lines. SMIC rose 3.98%, with a transaction volume of HKD 6.311 billion, HUA HONG SEMI rose 6.13%, with a transaction volume of HKD 3.194 billion, and JunDa Co., Ltd. rose 0.79%, with a transaction volume of HKD 0.645 billion. Active funds accelerated bottom-fishing in the technology line, with recovering chip demand driving overall valuation recovery, supported by policies and industry expectations, enhancing sector heat.
Macroeconomic Background
▪ Recently, the Hong Kong stock market has focused on fluctuations in macroeconomic indicators, including foreign exchange reserves, retail sales, and unemployment rates. Investors are focusing on market opportunities brought by consumer recovery and export rebound, paying attention to the impact of the RMB exchange rate and international capital flows. The warming macro environment provides continuous support for the consumer and technology sectors, driving further enhancement of market risk appetite.
Popular Stocks
▪ Yunzhisheng (9678.HK) rose 71.06% during intraday trading, with a transaction volume of HKD 1.184 billion. The company expects that for the fiscal year ending December 31, 2025, revenue from large model-related businesses will be approximately HKD 600 million, a year-on-year increase of about 10 times, mainly benefiting from the industrialization of large models, significantly enhancing its industry position and valuation level, with continuous attention and pursuit from funds. (Source: Sina Finance)
▪ YOFC (6869.HK) rose 15.73% during intraday trading, with a transaction volume of HKD 3.034 billion. On January 26, 2026, it surged intraday by 16%, creating a new recent high. Southbound funds have net bought for four consecutive days, with a cumulative amount reaching HKD 1.383 billion. Benefiting from multiple favorable policies and industry upgrades, the company has gained from the recovery of the optical communication industry, enhancing sector heat and attracting institutional and market pursuit
(Source: Daily Economic News)
▪ Emperor Watch and Jewellery (887.HK) rose 36.75% during the session, with a transaction amount of HKD 37.1728 million. There is no recent news, but the stock has shown significant short-term volatility, attracting some active capital inflow and increasing market attention.
▪ Sinopec Oilfield Service (1033.HK) rose 13.64% during the session, with a transaction amount of HKD 519 million. The oil service concept remains active as of January 2026, with the company continuously rising. The net profit for the first half of 2025 was RMB 218 million, a year-on-year increase of 23%, mainly driven by the recovery of the oil and gas service market, growth in overseas orders, improved performance, and a rebound in oil price expectations boosting industry investment confidence. (Source: Hong Kong Stock Exchange Announcement/Sina Finance)
▪ Woan Robotics (6600.HK) rose 18.06% during the session, with a transaction amount of HKD 76.5027 million. On January 27, 2026, the intraday increase reached 23%, setting a new high since its listing. The company is actively promoting new AI home robot products, which have received high market recognition, and is accelerating the expansion of overseas business, possessing dual advantages of high growth and high gross profit, and is generally favored by institutions. (Source: 21st Century Business Herald/Sina Finance)
Market Transaction Amount TOP10
▪ Alibaba -W (09988.HK) latest transaction price HKD 172.90, increase of 1.77%, transaction amount HKD 13.321 billion
▪ Tencent Holdings (00700.HK) latest transaction price HKD 621.00, increase of 2.31%, transaction amount HKD 11.379 billion
▪ SMIC (00981.HK) latest transaction price HKD 79.60, increase of 3.92%, transaction amount HKD 6.304 billion
▪ Zijin Mining (02899.HK) latest transaction price HKD 44.44, increase of 2.40%, transaction amount HKD 5.102 billion
▪ CNOOC (00883.HK) latest transaction price HKD 24.70, increase of 5.02%, transaction amount HKD 4.957 billion
▪ Pop Mart (09992.HK) latest transaction price HKD 231.20, increase of 6.94%, transaction amount HKD 4.224 billion
▪ Xiaomi Group -W (01810.HK) latest transaction price HKD 36.26, increase of 1.97%, transaction amount HKD 3.937 billion
▪ China Mobile (00941.HK) latest transaction price HKD 81.00, increase of 3.18%, transaction amount HKD 3.363 billion
▪ HUA HONG SEMI (01347.HK) latest transaction price HKD 121.10, increase of 6.04%, transaction amount HKD 3.191 billion
▪ YOFC (06869.HK) latest transaction price HKD 75.35, increase of 15.66%, transaction amount HKD 3.033 billion

In the Hong Kong stock market, the three major indices rose together, with the Hang Seng Index up 2.39%, reaching a new high for the period. The Technology Index and the National Enterprises Index also strengthened simultaneously, reflecting a significant rebound in market risk appetite. Key sectors such as retail, internet, and semiconductors performed outstandingly, with Alibaba and Tencent Holdings continuously favored by funds. In terms of individual stocks, popular concept stocks like Yunzhisheng and YOFC surged significantly, attracting high market attention. The increase in fund activity reflects structural opportunities and an amplified linkage between consumption and technology sectors. On the macro level, expectations for consumer recovery and capital flows have become the main focus of the market, guiding investor sentiment to remain positive

- The Hong Kong stock market showed positive momentum, with the Hang Seng Index increasing by 2.39% to 27,774.73 points, reaching a new phase high.  
- Retail, internet content, and semiconductor sectors experienced notable gains, reflecting a recovery in consumer confidence and increased demand for technology.  
- Investors remain focused on macroeconomic indicators as they seek opportunities in a recovering economy, with significant trading volumes reported in major stocks like Alibaba and Tencent.

Market Heartbeat

BABA-W

JD-SW

MNSO

TENCENT

KUAISHOU-W

BIDU-SW

SMIC

DRINDA

UNISOUND

YOFC

EMPEROR WATCH&J

ONEROBOTICS

HUA HONG SEMI

FI2 CSOP HSI

Hang Seng Index

CSOP HS TECH

FI CSOP HSI

Hang Seng TECH Index

Hong Kong stock market intraday | Hang Seng Index rises 2.39%, reaching a new high for the period; semiconductor sector active, HUA HONG SEMI rises 6.13%