Market Overview
▪ On March 12, the Hong Kong market faced pressure and weakened. As of now, the three major indices have collectively retreated, showing a technical pullback after reaching a phase high in the previous trading day.
▪ The Hang Seng Index reported 25,642.45, down 0.99%, failing to refresh the phase high, which last appeared on March 11, and is now retreating from that level.
▪ The Hang Seng Tech Index reported 5,011.25, down 0.86%, also failing to continue the breakthrough momentum from yesterday's high, fluctuating around the 5,000 point mark, with the last phase high being on March 11.
▪ The China Enterprises Index reported 8,677.78, down 0.31%, not reaching a new high, with the last phase high also on March 11, and the current pullback is relatively mild.
▪ As of the time of writing, overall sentiment is cautious, with indices primarily consolidating at high levels, focusing on whether they can consolidate near previous highs and gain volume support.
Sector Performance
▪ The oil and gas exploration and production sector rose overall, benefiting from higher international oil prices, with significant capital inflow. China National Offshore Oil Corporation performed the best, rising 4.78%, becoming the preferred choice for market risk aversion and anti-inflation funds.
▪ The internet content and information sector experienced volatility and decline, with mixed performance among leading companies. Tencent Holdings' latest transaction price fell 1.18%, and the industry overall lacks significant driving forces, with reduced willingness for capital participation.
▪ The retail sector overall retreated, mainly influenced by expectations of declining consumer demand, showing weak trends and significant overall pressure. Alibaba fell 1.35%.
Macroeconomic Background
▪ Since May, Hong Kong stocks have been in a weak recovery phase, with macro data showing moderate growth in exports and retail, manufacturing PMI remaining in the expansion range, and the unemployment rate staying low, indicating certain resilience in the economic fundamentals.
▪ However, external demand and internal consumption momentum remain weak. In the short term, market confidence is highly dependent on policy direction and capital flow, with the macro-level impact on the market currently in a wait-and-see period.
Popular Stocks
▪ China National Offshore Oil Corporation (883.HK) rose 4.70%, with a transaction volume of HKD 6.512 billion. The rise in international oil prices boosted the sector, attracting significant active capital attention to this leading stock.
▪ Shandong Molong (568.HK) rose 9.17%, with a transaction volume of HKD 3.847 billion. Driven by expectations of demand for oil and gas equipment, the stock price surged significantly during the trading session.
▪ Hua Hong Semiconductor (1347.HK) rose 3.65%, with a transaction volume of HKD 2.263 billion. The semiconductor sector showed resilience during the adjustment, with active trading.
▪ XPeng Inc. -W (9868.HK) rose 4.52%, with a transaction volume of HKD 1.884 billion. New energy vehicle stocks received support against the trend during the trading session, outperforming the broader market.
Market Transaction Volume TOP10
▪ Tencent Holdings (00700.HK) latest transaction price 545.50 HKD, down 1.18%, transaction volume HKD 7.933 billion
▪ CNOOC (00883.HK) latest transaction price 29.40 HKD, increase 4.78%, transaction amount 6.507 billion
▪ Alibaba -W (09988.HK) latest transaction price 130.80 HKD, decrease 1.80%, transaction amount 5.832 billion
▪ Shandong Molong (00568.HK) latest transaction price 11.56 HKD, increase 9.26%, transaction amount 3.847 billion
▪ Yangtze Optical Fibre and Cable (06869.HK) latest transaction price 157.70 HKD, decrease 3.84%, transaction amount 3.803 billion
▪ Hua Hong Semiconductor (01347.HK) latest transaction price 95.15 HKD, increase 3.71%, transaction amount 2.263 billion
▪ SMIC (00981.HK) latest transaction price 63.05 HKD, decrease 1.10%, transaction amount 2.206 billion
▪ Meituan -W (03690.HK) latest transaction price 76.10 HKD, decrease 1.68%, transaction amount 2.132 billion
▪ AIA Group (01299.HK) latest transaction price 84.40 HKD, decrease 2.37%, transaction amount 1.965 billion
▪ XPeng -W (09868.HK) latest transaction price 78.55 HKD, increase 4.52%, transaction amount 1.883 billion

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On March 12th, all three major indices of the Hong Kong stock market retreated during the session, with the Hang Seng Index falling by 0.99% and the Technology Index dropping by 0.86%. The oil and gas sector performed strongly, boosted by international oil prices, with CNOOC rising over 4%; however, the internet and retail sectors faced significant pressure. Overall market sentiment has become cautious, with funds primarily focusing on resource leaders and some semiconductor stocks after a high-level pullback

- As of March 12, Hong Kong's market shows weakness, with all major indices retreating after hitting recent highs.  
- The crude oil exploration and production sector gains due to rising international oil prices, especially China National Offshore Oil Corporation, which rose by 4.78%.  
- Nevertheless, macroeconomic indicators suggest a cautious recovery, with external demand and consumer momentum remaining weak, leaving market confidence reliant on policy direction and capital flows.

Market Heartbeat

CNOOC

TENCENT

SHANDONG MOLONG

BABA-W

HUA HONG SEMI

XPENG-W

Hang Seng Index

Hong Kong stock market intraday | The Hang Seng Index fell 0.99%, while CNOOC rose more than 4% against the trend