---
title: "\"Hong Kong Stocks\" Hang Seng Index down 156 points in half a day, Tencent Music down 12%, CHINA RES MIXC down nearly 6%"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/265641846.md"
description: "Hong Kong stocks retreated in the morning session, with the Hang Seng Index down 156 points at 26,766 points. Tencent Music's quarterly results exceeded expectations, but due to market concerns over competition and profitability, its stock price fell by 12.1%. Alibaba and JD.com both saw declines of 1.2% and 2.2% respectively due to a drop in Double 11 sales. Meituan performed strongly during Double 11, but its stock price fell by 1.4%. Other tech stocks generally declined, with Baidu rising by 1%. Lithium stocks Ganfeng and Tianqi rose by 11.2% and 9% respectively"
datetime: "2025-11-13T04:32:02.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/265641846.md)
  - [en](https://longbridge.com/en/news/265641846.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/265641846.md)
---

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# "Hong Kong Stocks" Hang Seng Index down 156 points in half a day, Tencent Music down 12%, CHINA RES MIXC down nearly 6%

The U.S. federal government shutdown has ended, and Hong Kong stocks retreated in the early market. The Hang Seng Index opened down 143 points, with the initial decline narrowing to 14 points, reaching a high of 26,908 points. Subsequently, the decline expanded to 189 points, hitting a low of 26,733 points, closing down 156 points or 0.6% at 26,766 points; the Hang Seng China Enterprises Index fell 61 points or 0.6% to 9,477 points; the Hang Seng Tech Index dropped 45 points or 0.8% to 5,888 points. The total turnover of the market for the half-day was HKD 127.082 billion.

Tencent Music (01698.HK) reported better-than-expected quarterly results, but the market is concerned about competition in the streaming music platform and the impact of live performance business on profit margins, causing its stock price to drop 12.1%. Peer NetEase Cloud Music (09899.HK) fell 3.6%. Tencent (00700.HK) announced its quarterly results during the day, with its stock price down 1.1% at HKD 649.5. The total e-commerce sales during the "Double 11" shopping festival in mainland China reached approximately RMB 1.7 trillion, with e-commerce stocks Alibaba (09988.HK) and JD.com (09618.HK) down 1.2% and 2.2%, respectively, while short video platform Kuaishou (01024.HK) fell 1.7%. Meituan's flash purchase platform achieved record highs in total transaction volume, number of ordering users, and per capita consumption during the entire "Double 11" period, with Meituan (03690.HK) down 1.4%.

In other tech stocks, Xiaomi (01810.HK), NetEase (09999.HK), and Bilibili (09626.HK) fell between 0.4% and 1%, while Baidu (09888.HK) rose 1%. Ping An Good Doctor (01833.HK) increased by 6.5%, and chip stock SMIC (00981.HK) fell 0.1%. In the automotive sector, BYD (01211.HK) and Seres (09927.HK) rose 0.9% and 1.7%, respectively, while Chery (09973.HK) fell 3.1%. Battery stock CATL (03750.HK) rose 4%, while autonomous driving stocks WeRide (00800.HK) and Pony.ai (02026.HK) fell 2.4% and 3.8%. Lithium stocks Ganfeng (01772.HK) and Tianqi (09696.HK) rose 11.2% and 9%, respectively, while mainland lithium carbonate spot futures rose 3% in the early market.

OPEC+ is expected to balance supply and demand next year, with Brent crude oil closing down nearly 4%. PetroChina (00857.HK) and CNOOC (00883.HK) fell 2.1% and 3.1%, respectively. Airline stocks China Southern Airlines (01055.HK) and China Eastern Airlines (00670.HK) rose 4.5% and 2.4%. Gold prices rose back above USD 4,200, with China National Gold International (02099.HK) and Lingbao (03330.HK) rising 6.5% and 4.5%, respectively, while Zijin (02899.HK) rose 3.9%, and Shandong Gold (01787.HK) and Zhaojin (01818.HK) rose over 2%. Resource stocks rose, with China Molybdenum (03993.HK) up 6%, and Chalco (02600.HK), Jiangxi Copper (00358.HK), and Minmetals Resources (01208.HK) rising between 3.5% and 4.2% In terms of consumer stocks, Samsonite (01910.HK) rose 18%, as management's outlook for sales growth in the fourth quarter exceeded market expectations. Miniso (09896.HK) and Hisense Home Appliances (00921.HK) fell 3.2% and 3.9%. Melco Resorts & Entertainment (00880.HK) reported a 15% year-on-year decline in adjusted EBITDA for the third quarter, with its stock price dropping 8.4%. The Macao Government Tourism Office expects an average hotel occupancy rate of 89% this year, with Sands China (00200.HK) and Galaxy Entertainment (00027.HK) falling 4.5% and 2.5%. Mainland property stock Sunac (01109.HK) saw a 17% decline in contract sales for the first ten months and announced a 9.6% discount on the placement of CHINA RES MIXC (01209.HK) shares, raising a net of HKD 2.06 billion. CHINA RES MIXC fell 5.9%, while Sunac dropped 1.4%.

HSBC (00005.HK) rose 0.4% to HKD 114, while Hong Kong Exchanges and Clearing (00388.HK) and AIA (01299.HK) fell 0.6% and 0.4%. The Photovoltaic Industry Association denied that there were obstacles to the anti-involution plan, leading New Energy (01799.HK) to rebound 4.3%, while Xinyi Solar (00968.HK) and Flat Glass Group (06865.HK) rose 2.9% and 2.6%. Wind power stock Goldwind (02208.HK) rose 3%. Legend Holdings (06683.HK) conducted a nearly 20% discount on its placement, raising HKD 369 million, with its stock price dropping 17.6%

### 相關股票

- [Tencent Music (TME.US)](https://longbridge.com/zh-HK/quote/TME.US.md)
- [TME-SW (01698.HK)](https://longbridge.com/zh-HK/quote/01698.HK.md)
- [CHINA RES MIXC (01209.HK)](https://longbridge.com/zh-HK/quote/01209.HK.md)

## 相關資訊與研究

- [Orient Securities Keeps Their Buy Rating on Tencent Music Entertainment Group Class A (1698)](https://longbridge.com/zh-HK/news/280960163.md)
- [Universal Music Group (ENXTAM:UMG) Valuation Check As €500 Million Share Buyback Signals Long Term Confidence](https://longbridge.com/zh-HK/news/281255171.md)
- [10:17 ETSales of Jay Chou's "Children of the Sun" have exceeded 100 million RMB, as Tencent Music Entertainment Group Drives Global Rollout](https://longbridge.com/zh-HK/news/280880602.md)
- [Lithium Argentina Secures US$130 Million Ganfeng-Backed Loan to Advance Joint Venture Projects](https://longbridge.com/zh-HK/news/280521233.md)
- [00:50 ETLas ventas de "Children of the Sun" de Jay Chou han superado los 100 millones de RMB](https://longbridge.com/zh-HK/news/280956359.md)