Market Overview
▪ During the trading session, the Hong Kong stock market saw a general pullback in major indices, indicating signs of adjustment in short-term trends.
▪ The Hang Seng Index was last reported at 26,514.3 points, down 1.24%, having retreated since reaching a peak on January 29, and is currently unable to break through previous high levels.
▪ The Hang Seng Tech Index was reported at 5,302.28 points, down 1.2%, showing a recent downward trend with a clear short-term high-level pullback.
▪ The China Enterprises Index was temporarily reported at 8,952.58 points, down 1.06%, also retreating from the peak on January 29, with pressure on the market.
Sector Performance
▪ The internet content and information sector weakened during the session, lacking positive news to support performance, with a decline in risk appetite. Leading company Tencent Holdings fell 2.42%, with a trading volume of HKD 15.432 billion. Kuaishou-W dropped 2.87%, with a trading volume of HKD 780 million, and Baidu-SW fell 0.66%, with a trading volume of HKD 616 million.
▪ The retail sector showed mixed performance, with leading Alibaba-W down 2.82%, trading at HKD 4.958 billion, and JD-SW down 0.56%, trading at HKD 349 million. However, MNSO rose 4.58%, with a trading volume of HKD 82 million, indicating that some leading consumer stocks are favored by short-term funds.
▪ The retail sectors for jewelry, toys, and stationery continued their upward trend, with funds chasing consumption upgrades and gold themes. POP MART rose 3.12%, with a trading volume of HKD 2.783 billion, attracting active capital inflow; China Duty Free Group rose 1.25%; Chow Tai Fook fell 1.19%, but benefited from international gold prices returning to USD 5,000 per ounce and price increases in gold jewelry during the Spring Festival consumption season, suggesting potential improvements in profit structures for related leading retailers.
Macroeconomic Background
▪ Recently, the Hong Kong stock market has been focused on fluctuations in economic data, the recovery of domestic and external demand, as well as changes in liquidity and the RMB exchange rate. Investors are paying attention to retail, export performance, and manufacturing PMI, remaining vigilant about policy adjustments and changes in the external environment. Short-term market trends may be driven by macroeconomic factors, with a cautious sentiment dominating the flow of funds towards structural opportunities.
Popular Stocks
▪ BrainCo-Aurora-B (6681.HK) rose 12.90% during the session, with a trading volume of HKD 213 million. As of now, no significant news or industry events related to BrainCo-Aurora have been discovered, and there are no obvious public reports involving the company's business changes or potential risks in the past three days. It is recommended to continue monitoring its financial reports or official announcements for further information.
▪ Contemporary Land (1107.HK) surged 44.44% during the session, with a trading volume of HKD 7.4712 million. As of now, there have been no media reports of significant corporate events or market fluctuations involving Contemporary Land in the past three days, and the company has not released any notable announcements or new developments that have sparked widespread market discussion. Investors are advised to pay attention to future announcements and regulatory dynamics to assess risks and opportunities
▪ Guofu Hydrogen Energy (2582.HK) rose 8.85%, with a trading volume of HKD 219 million. The company has no significant news or important market events disclosed in the past three days, and it is advisable to continue monitoring industry policy changes and company announcements for potential impact information.
▪ Juzi Biotechnology (2367.HK) rose 7.22%, with a trading volume of HKD 247 million. Juzi Biotechnology's subsidiary received a registration certificate from the National Medical Products Administration of China for its restructured collagen-related medical device products, which is seen as a positive signal for the company's product line expansion and R&amp;D capabilities, driving the stock price up.
▪ Haojiang Electromechanical (1408.HK) rose 24%, with a trading volume of HKD 2.4914 million. The company currently lacks the latest developments or events, and it is recommended to pay attention to its future regular performance reports and regulatory announcements.
Market Trading Volume TOP10
▪ Tencent Holdings (00700.HK) latest trading price HKD 543.50, down 2.60%, trading volume HKD 15.38 billion
▪ Alibaba -W (09988.HK) latest trading price HKD 154.90, down 2.88%, trading volume HKD 4.945 billion
▪ POP MART (09992.HK) latest trading price HKD 244.40, up 3.04%, trading volume HKD 2.779 billion
▪ SMIC (00981.HK) latest trading price HKD 66.15, down 3.78%, trading volume HKD 2.035 billion
▪ Xiaomi Group -W (01810.HK) latest trading price HKD 33.86, down 0.29%, trading volume HKD 1.422 billion
▪ Zijin Mining (02899.HK) latest trading price HKD 39.16, down 5.96%, trading volume HKD 1.184 billion
▪ AIA Group (01299.HK) latest trading price HKD 87.05, down 4.02%, trading volume HKD 1.133 billion
▪ Hua Hong Semiconductor (01347.HK) latest trading price HKD 97.40, down 4.88%, trading volume HKD 1.061 billion
▪ GCL Technology (03800.HK) latest trading price HKD 1.12, up 3.70%, trading volume HKD 1.022 billion
▪ Meituan -W (03690.HK) latest trading price HKD 92.00, down 0.16%, trading volume HKD 965 million

The main indices of the Hong Kong stock market experienced a significant pullback during the trading session, with the Hang Seng Index, Hang Seng Tech Index, and the China Enterprises Index all declining, showing clear structural differentiation. Leading internet and technology stocks generally faced pressure, while retail and jewelry stocks exhibited mixed performance, with individual consumer chain stocks like POP MART and MNSO standing out. Short-term capital flows were active in popular varieties, as the market focused on macro data and policy changes, with investor sentiment dominated by a wait-and-see attitude

- The Hong Kong stock market shows a general decline, with the Hang Seng Index dropping 1.24% and unable to surpass previous highs.  
- The technology sector struggles, particularly Tencent and Kuaishou, while the retail sector sees mixed results; Alibaba falls 2.82%, but Miniso rises 4.58%.  
- Macro factors such as economic data fluctuations and liquidity concerns influence investor sentiment and market dynamics.

Market Heartbeat

POP MART

MNSO

TENCENT

KUAISHOU-W

BIDU-SW

BABA-W

JD-SW

CTG DUTY-FREE

CHOW TAI FOOK

BRAINAURORA-B

MODERN LAND

GUOFUHEE

GIANT BIOGENE

MACAU E&M

FI CSOP HSI

FL2 CSOP HSI

CSOP HS TECH

FI2 CSOP HSI

Hong Kong stocks intraday | All three major indices retraced, Tencent Holdings weakened while POP MART remained active against the trend