--- title: "Hong Kong Stocks Close | HSI Falls 1.89% as Kuaishou and Pop Mart Plunge" type: "News" locale: "zh-CN" url: "https://longbridge.com/zh-CN/news/280589225.md" description: "On March 26, the three major Hong Kong stock indices collectively retreated, with the HSI closing down 1.89% and the Hang Seng Tech Index falling 3.28%. Market sentiment for taking profits at high levels was strong, with Kuaishou plunging over 14% and Pop Mart dropping more than 10%. The overall market trended toward caution amid macroeconomic external demand pressure and insufficient consumption momentum, with capital concentrating in energy leaders and certain stocks with unusual performance results" datetime: "2026-03-26T08:13:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/280589225.md) - [en](https://longbridge.com/en/news/280589225.md) - [zh-HK](https://longbridge.com/zh-HK/news/280589225.md) --- > 支持的语言: [English](https://longbridge.com/en/news/280589225.md) | [繁體中文](https://longbridge.com/zh-HK/news/280589225.md) # Hong Kong Stocks Close | HSI Falls 1.89% as Kuaishou and Pop Mart Plunge **Market Overview** ▪ As of the close on March 26, the three major Hong Kong stock indices collectively retreated, with increased profit-taking from previous highs and a cooling of risk appetite. ▪ The HSI closed at 24856.43, down 1.89%, failing to extend the stage high from March 25 and undergoing a short-term pullback from its peak. ▪ The Hang Seng Tech Index closed at 4761.54, down 3.28%, failing to continue setting new stage highs (March 25), with tech heavyweights under pressure. ▪ The Hang Seng China Enterprises Index closed at 8389.93, down 2.25%, also failing to break yesterday's stage high, with its decline falling in the middle of the indices. ▪ Overall, sentiment has shifted toward caution; subsequent focus will be on external interest rates and the influence of Chinese internet heavyweights on the index. **Sector Performance** ▪ The **retail sector, including jewelry, toys, and stationery**, experienced an overall decline, dragged down by sluggish terminal consumption. Among these, jewelry retail leader Chow Tai Fook (1929.HK) **closed down 4.81% today, and trendy toy leader** Pop Mart (9992.HK) **plunged 10.46%**, as the pace of terminal recovery continues to be cautiously assessed by the market. ▪ The **internet content and information sector** saw a significant pullback, mainly dragged down by the **14.04% plunge of heavyweight Kuaishou-W (1024.HK)**, as the market conducted a rapid correction of short-term valuations for tech stocks. The sector's core leader, **Tencent Holdings (0700.HK)**, was also affected today, closing down **1.96%**, while NetEase-S (9999.HK) closed down **2.55%**. ▪ The **retail sector** showed divergent trends. Despite the overall macroeconomic pressure, leading companies exhibited varied performance, reflecting defensive choices by capital amidst industry volatility. E-commerce and general retail leader Alibaba-SW (9988.HK) closed down **4.58%** today, while JD.com-SW (9618.HK) **closed up 1.07%**. **Macroeconomic Background** ▪ In March, investors paid close attention to core economic data such as Hong Kong's exports, imports, and trade balance. The current macro environment indicates that external demand pressure remains, although the unemployment rate stays stable. ▪ Uncertainty in the external environment and insufficient internal consumption momentum are jointly suppressing short-term risk appetite. The market is focusing on policy-side stimuli and the structural flow of existing capital. **Hot Stocks** ▪ Guanghe Technology (1989.HK) rose 3.06% against the market trend with a turnover of HK$669 million, showing capital's preference for individual defensive targets amid risk-averse sentiment. ▪ Kingsoft (3888.HK) rose 4.53% with a turnover of HK$655 million, performing relatively strongly while the tech sector generally weakened. ▪ Lenovo Group (992.HK) slightly declined 0.21% with a turnover of HK$622 million, demonstrating strong resilience. ▪ Li Auto-W (2015.HK) fell 2.06% with a turnover of HK$651 million, reflecting the impact of the overall market pullback on the automotive sector. ▪ Leapmotor (9863.HK) rose 1.44% against the market trend with a turnover of HK$597 million, indicating high activity from localized capital. **Market Turnover TOP10** ▪ Pop Mart (09992.HK) latest price 150.7 HKD, decline 10.46%, turnover 15.385 billion ▪ Tencent Holdings (00700.HK) latest price 495.6 HKD, decline 1.96%, turnover 11.307 billion ▪ Alibaba-W (09988.HK) latest price 123.0 HKD, decline 4.58%, turnover 10.891 billion ▪ Meituan-W (03690.HK) latest price 86.7 HKD, decline 3.67%, turnover 10.558 billion ▪ Kuaishou-W (01024.HK) latest price 45.6 HKD, decline 14.04%, turnover 9.104 billion ▪ Xiaomi Group-W (01810.HK) latest price 32.44 HKD, decline 0.25%, turnover 6.547 billion ▪ Yangtze Optical Fibre and Cable (06869.HK) latest price 180.6 HKD, decline 2.38%, turnover 4.995 billion ▪ CNOOC (00883.HK) latest price 29.22 HKD, increase 2.53%, turnover 4.494 billion ▪ China Life (02628.HK) latest price 25.04 HKD, decline 8.48%, turnover 3.768 billion ▪ SMIC (00981.HK) latest price 53.15 HKD, decline 5.93%, turnover 3.640 billion ### 相关股票 - [CHOW TAI FOOK (01929.HK)](https://longbridge.com/zh-CN/quote/01929.HK.md) - [KUAISHOU-W (01024.HK)](https://longbridge.com/zh-CN/quote/01024.HK.md) - [POP MART (09992.HK)](https://longbridge.com/zh-CN/quote/09992.HK.md) - [TENCENT (00700.HK)](https://longbridge.com/zh-CN/quote/00700.HK.md) - [NTES-S (09999.HK)](https://longbridge.com/zh-CN/quote/09999.HK.md) - [BABA-W (09988.HK)](https://longbridge.com/zh-CN/quote/09988.HK.md) - [JD-SW (09618.HK)](https://longbridge.com/zh-CN/quote/09618.HK.md) - [KINGSOFT (03888.HK)](https://longbridge.com/zh-CN/quote/03888.HK.md) - [DELTON (01989.HK)](https://longbridge.com/zh-CN/quote/01989.HK.md) - [LENOVO GROUP (00992.HK)](https://longbridge.com/zh-CN/quote/00992.HK.md) - [LI AUTO-W (02015.HK)](https://longbridge.com/zh-CN/quote/02015.HK.md) - [LEAPMOTOR (09863.HK)](https://longbridge.com/zh-CN/quote/09863.HK.md) - [XIAOMI-W (01810.HK)](https://longbridge.com/zh-CN/quote/01810.HK.md) - [YOFC (06869.HK)](https://longbridge.com/zh-CN/quote/06869.HK.md) - [CNOOC (00883.HK)](https://longbridge.com/zh-CN/quote/00883.HK.md) - [CHINA LIFE (02628.HK)](https://longbridge.com/zh-CN/quote/02628.HK.md) - [SMIC (00981.HK)](https://longbridge.com/zh-CN/quote/00981.HK.md) ## 相关资讯与研究 - [Pop Mart shares sink despite revenue surge, as analysts say Labubu reliance worries investors](https://longbridge.com/zh-CN/news/280487493.md) - [Pop Mart Revenue Tops 30 Billion Net Profit Surges 284%, Why Did Stock Price Plummet 15%?](https://longbridge.com/zh-CN/news/280420484.md) - [Labubu maker Pop Mart meets 2025 revenue expectations](https://longbridge.com/zh-CN/news/280414763.md) - [Pop Mart shares fall on concerns over limited IP diversification](https://longbridge.com/zh-CN/news/280655489.md) - [Pop Mart International Group Limited Reports Earnings Results for the Full Year Ended December 31, 2025](https://longbridge.com/zh-CN/news/280465412.md)