Market Overview
▪ In the Hong Kong stock market, the three major indices are showing divergence. As of now, the weighted index is steadily rising, while technology stocks are retreating, with overall sentiment being cautious.
▪ The Hang Seng Index has slightly increased by 0.17%, reporting 25,291.29 points, and has not refreshed its recent high; the last high was on March 3rd, and it is still consolidating below that level.
▪ The Hang Seng Tech Index has dropped by 0.90%, reporting 4,786.12 points, and has not reached a new recent high; the last high was on March 4th, and there is still pressure from previous highs.
▪ The China Enterprises Index has decreased by 0.44%, reporting 8,446.62 points, and has not rewritten its recent high; the last high was on March 4th, and it is still oscillating below that level.
▪ As of the time of writing, none of the three major indices have broken through their recent highs, and future attention will be on the impact of trading volume and external guidance on risk appetite.
Sector Performance
▪ Retailers: Overall decline, pressured by earnings report windows; Alibaba -W dropped by 3.16%, JD.com -SW dropped by 1.07%, Miniso dropped by 0.66%, with increased volatility in the sector as JD.com approaches its earnings report. In terms of capital, activity is more concentrated in the weighted and energy technology sectors, with significant divergence within the sector, and Alibaba, as a weighted stock, remains active in trading.
▪ Internet Content and Information: News is bland, with oscillation and divergence; Tencent Holdings dropped by 0.49%, Baidu -SW rose by 0.43%, and Kuaishou -W rose by 0.38%. The capital attitude is neutral, with short-term focus on existing stock games, and the fluctuations of leading stocks have a more significant impact on the index.
▪ Oil and Gas Exploration and Production: News is bland, with stock divergence; China National Offshore Oil Corporation rose by 1.03%, United Energy Group dropped by 6.50%, and CNOOC (China National Offshore Oil Corporation) dropped by 10.13%. The leading stock, China National Offshore Oil Corporation, is strong and ranks high in trading volume, indicating a preference for weighted energy targets.
Macroeconomic Background
▪ Market Focus: U.S. Treasury yields and the direction of HIBOR under the linked exchange rate, net inflow of southbound funds, mainland PMI and consumption recovery, Hong Kong PMI and retail and visitor recovery, export and trade balance, real estate relief and mortgage environment, performance and marginal policies of technology leaders, fluctuations in the RMB and U.S. dollar index, and geopolitical and U.S.-China relations.
▪ With no new data guidance available, risk appetite remains cautious during the trading session, and the preference for weighted and energy technology sectors continues.
Popular Stocks
▪ Weichai Power (2338.HK) has risen by 4.85% as of now, with a trading volume of HKD 645 million. No new events have been disclosed, but trading performance indicates some capital interest.
▪ Zhaoyi Innovation (3986.HK) has risen by 2.12% as of now, with a trading volume of HKD 598 million. No new events have been disclosed, and the trading volume reflects active trading.
▪ Innovent Biologics (1801.HK) has risen by 0.84% as of now, with a trading volume of HKD 717 million. No new events have been disclosed, and the attention during the session is reflected in the trading volume.
▪ Jaxin International Resources (3858.HK) has risen by 4.33% as of now, with a trading volume of HKD 577 million. No new events have been disclosed, and trading is active during the session
▪ China COSCO Shipping Holdings (1919.HK) has risen 1.99% so far, with a trading volume of HKD 583 million. No new events have been disclosed, and trading is active during the session.
Market Trading Volume TOP10
▪ Alibaba -W (09988.HK) latest trading price HKD 125.80, down 3.16%, trading volume HKD 13.148 billion
▪ Tencent Holdings (00700.HK) latest trading price HKD 503.50, down 0.49%, trading volume HKD 8.864 billion
▪ China National Offshore Oil Corporation (00883.HK) latest trading price HKD 27.38, up 1.11%, trading volume HKD 4.252 billion
▪ Shandong Molong Petroleum Machinery (00568.HK) latest trading price HKD 10.56, up 2.82%, trading volume HKD 3.646 billion
▪ Xiaomi Group -W (01810.HK) latest trading price HKD 32.20, up 0.63%, trading volume HKD 3.139 billion
▪ China Resources Gas (01635.HK) latest trading price HKD 4.25, up 8.42%, trading volume HKD 2.651 billion
▪ HSBC Holdings (00005.HK) latest trading price HKD 133.70, up 2.22%, trading volume HKD 2.550 billion
▪ Yangtze Optical Fibre and Cable Joint Stock Limited Company (06869.HK) latest trading price HKD 145.20, down 2.55%, trading volume HKD 2.526 billion
▪ BYD Company Limited (01211.HK) latest trading price HKD 91.95, down 3.26%, trading volume HKD 2.488 billion
▪ Semiconductor Manufacturing International Corporation (00981.HK) latest trading price HKD 61.55, up 0.49%, trading volume HKD 2.406 billion

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The three major indices of the Hong Kong stock market showed divergence during the trading session: the Hang Seng Index rose slightly by 0.17% to 25,291.29 points, the Hang Seng Tech Index fell by 0.90% to 4,786.12 points, and the National Enterprises Index decreased by 0.44% to 8,446.62 points, all failing to break through their respective recent highs. In terms of sectors, retailers are under pressure, internet content and information show divergence, and oil and gas exploration and production are fluctuating. Among the leaders, Alibaba weakened, Tencent showed weakness, while China National Offshore Oil Corporation strengthened. In terms of trading volume, Alibaba, Tencent, and China National Offshore Oil Corporation are at the forefront, with activity concentrated in heavyweight and energy technology stocks, and market sentiment is cautious

- The Hong Kong stock market shows mixed performance, with the Hang Seng Index slight increase of 0.17% at 25,291.29 points, while the technology sector declines 0.90%.  
- Retail sector faces pressure from earnings reports with Alibaba down 3.16% and JD down 1.07%, indicating sector volatility ahead of reports.  
- Market focus remains cautious amidst macroeconomic indicators, including U.S. Treasury rates and indicators on domestic consumption and trade, with significant activity seen in top energy and technology stocks.

Market Heartbeat

TENCENT

JD-SW

BABA-W

MNSO

KUAISHOU-W

WEICHAI POWER

BIDU-SW

GIGADEVICE

INNOVENT BIO

JIAXIN INTL RES

COSCO SHIP HOLD

Hong Kong stock market intraday | The Hang Seng Index rose slightly by 0.17%, the Tech Index fell by 0.90%, and CNOOC rose by 1.11%