Market Overview
▪ As of the close on April 1, all three major Hong Kong stock indices rose, indicating a rebound in risk appetite.
▪ The Hang Seng Index closed at 25,294.03 points, up 2.04%, failing to break through the recent high, still distant from the March 25 peak.
▪ The Hang Seng Tech Index closed at 4,756.45 points, up 2.29%, not reaching a new recent high, with the last peak occurring on March 27.
▪ The China Enterprises Index closed at 8,504.81 points, up 1.56%, still not rewriting the recent high, with the last peak on March 25.
▪ Short-term sentiment has improved, but selling pressure remains above, with subsequent attention on whether trading volume can expand and the pressure and breakthrough situation near previous highs.
Sector Performance
▪ The internet content and information sector rose overall, driven by AI technology iterations and increased fund allocations, boosting sector sentiment. Tencent Holdings rose 2.60%, with the Ruiyuan Growth Value Fund increasing its allocation to internet technology, stabilizing and rebounding the tech sector, which saw intraday gains exceeding 4%. Kuaishou rose over 3% intraday, supported by intensified AI content competition and mainstream capital inflows. Baidu Group rose over 3% intraday, with the launch of new models by Alibaba Cloud stimulating the industry's AI investments, leading to strength in many tech content stocks, although the tech sector overall faced pressure and significant divergence.
▪ The oil and gas sector fell across the board, with the decline in international oil prices being a core negative factor. CNOOC fell 3.71%, following the drop in international oil prices, and although Citigroup has a positive outlook on profit forecasts, it remains under short-term pressure with weak capital dynamics. United Energy Group reported a 28.3% year-on-year decline in net profit, affected by oil prices and asset impairments, leading to weakened industry expectations. Zhonggang Petroleum is expected to turn profitable in 2025, with improved performance bringing confidence, but overall sector capital is flowing out.
▪ The application software sector showed divergence, with AI innovation news driving some stocks to rise against the market trend. Kingdee International continued to repurchase shares, aiming to stabilize stock prices and market expectations. SenseTime benefited from favorable AI ecosystem developments, coupled with the Shanghai AI Innovation Conference topics, increasing stock price attention, although there were no direct favorable events.
Macroeconomic Background
▪ Recently, Hong Kong stocks have been influenced by a combination of export, retail, and manufacturing data, with corporate profitability and signs of external demand recovery drawing significant market attention. Additionally, U.S.-China policy trends, exchange rates, and capital flows are currently playing a key guiding role in short-term trends.
Popular Stocks
▪ KNOWLEDGE ATLAS (2513.HK) performed extremely strongly today, closing up 31.94%, with a trading volume of HKD 4.981 billion, becoming the focus of the market.
▪ MINIMAX-W (100.HK) closed up 14.04%, with a trading volume of HKD 2.984 billion, reflecting the market's high preference for AI-related tech stocks.
▪ Zijin Mining (2899.HK) closed up 5.94%, with a trading volume of HKD 3.821 billion, showing stable performance among resource stocks.
▪ Tencent Holdings (700.HK) closed up 2.60%, with a trading volume of HKD 10.596 billion, maintaining very high capital activity.
▪ Alibaba -W (9988.HK) closed up 3.11%, with a trading volume of HKD 8.329 billion, leading the gains among Hang Seng Tech Index constituents
Market Trading Volume TOP10
▪ Tencent Holdings (00700.HK) latest trading price 496.6 HKD, increase of 2.60%, trading volume 10.596 billion
▪ China National Offshore Oil Corporation (00883.HK) latest trading price 26.96 HKD, decrease of 3.71%, trading volume 8.406 billion
▪ Alibaba -W (09988.HK) latest trading price 122.7 HKD, increase of 3.11%, trading volume 8.329 billion
▪ Pop Mart (09992.HK) latest trading price 145.3 HKD, increase of 1.18%, trading volume 5.597 billion
▪ Xiaomi Group -W (01810.HK) latest trading price 32.02 HKD, increase of 0.82%, trading volume 5.082 billion
▪ KNOWLEDGE ATLAS (02513.HK) latest trading price 915.0 HKD, increase of 31.94%, trading volume 4.981 billion
▪ Meituan -W (03690.HK) latest trading price 81.95 HKD, decrease of 1.21%, trading volume 4.757 billion
▪ BYD Company (01211.HK) latest trading price 104.7 HKD, decrease of 1.04%, trading volume 4.345 billion
▪ Yangtze Optical Fibre and Cable Joint Stock Limited Company (06869.HK) latest trading price 185.9 HKD, increase of 1.58%, trading volume 4.223 billion
▪ Zijin Mining Group (02899.HK) latest trading price 36.4 HKD, increase of 5.94%, trading volume 3.821 billion

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On April 1st, Hong Kong stocks rose across the board, with the Hang Seng Index closing up 2.04% at 25,294.03 points, and the Tech Index rising 2.29%. The internet and retail sectors led the gains, with Tencent and Alibaba making significant contributions, while popular stock KNOWLEDGE ATLAS surged over 31%. The market was buoyed by positive macro data and AI innovation, with active trading, but high-level pressure still needs attention

- On April 1, Hong Kong's three major stock indices rose as risk appetite improved, with the Hang Seng Index closing at 25,294.03, up 2.04%.  
- The technology and internet sectors performed well, benefiting from AI advancements, while the oil and gas sector faced losses due to falling international oil prices.  
- Market focus remains on economic data and potential policy shifts, influencing stock performance and investor sentiment.

Market Heartbeat

CAM HS TECH

CSOP HS TECH

ChinaAMC Hang Seng Technology ETF(QDII)

GX HS TECH

Hang Seng TECH Index

BABA 2x Long Daily ETF - GraniteShares

KNOWLEDGE ATLAS

ISHARESHSTECH

HSTECH ETF

Tianhong Hang Seng TECH ETF(QDII)

Hang Seng TECH ETF I

TENCENT

BABA-W

CNOOC

ZIJIN MINING

POP MART

XIAOMI-W

MEITUAN

BYD COMPANY

YOFC

Hang Seng Index

China Southern Hang Seng ETF

Tencent Holdings Limited

ISHARESHSI

Tencent

Alibaba

Huatai-PB CSOP Hang Seng Technology ETF(QDII)

Hong Kong stocks close | Hang Seng Index rises 2.04%, KNOWLEDGE ATLAS surges 31.94% to lead