--- title: "Hong Kong Stock Midday Review | The three major indices declined significantly, with automotive and telecommunications being the biggest drag, while AI concepts led the gains against the trend" type: "News" locale: "zh-HK" url: "https://longbridge.com/zh-HK/news/274459715.md" description: "As of noon, the three major indices of the Hong Kong stock market have significantly declined, with the Hang Seng Index, Hang Seng Tech Index, and the National Enterprises Index all experiencing substantial corrections, led by core assets and the telecommunications sector. Sectors such as internet content, retail, telecommunications services, and automotive manufacturers are under overall pressure, with leading stocks like Alibaba and China Mobile showing notable declines. Short-term risk aversion sentiment among funds is rising, but AI and certain new economy stocks are performing strongly against the trend, becoming the focus of attention during the trading session. On the macro front, fluctuations in the RMB exchange rate, PMI, and export data have increased funds' attention to policy and expectations for domestic capital inflows, leading to intensified sector differentiation amid short-term volatility" datetime: "2026-02-02T04:13:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/274459715.md) - [en](https://longbridge.com/en/news/274459715.md) - [zh-HK](https://longbridge.com/zh-HK/news/274459715.md) --- > 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/274459715.md) | [English](https://longbridge.com/en/news/274459715.md) # Hong Kong Stock Midday Review | The three major indices declined significantly, with automotive and telecommunications being the biggest drag, while AI concepts led the gains against the trend **Market Overview** ▪ As of noon on February 2, the three major indices of the Hong Kong stock market are collectively under pressure. ▪ The Hang Seng Index reported 26,730.78 points at noon, down 2.40%, experiencing a sharp short-term correction after reaching this year's high. ▪ The Hang Seng Tech Index closed at 5,508.01 points at noon, with a decline of 3.68%, showing a weak trend recently. ▪ The National Enterprises Index reported 9,064.43 points at noon, down 2.71%. **Sector Performance** ▪ The internet content and information sector continued to decline, with the market lacking positive news to drive it, reflecting a clear wait-and-see sentiment among investors. Tencent Holdings fell 1.32%, with the latest transaction amount at HKD 7.311 billion. Kuaishou-W dropped 3.49%, with active trading but also under pressure, and Baidu-SW declined by 3.60%. Major stocks in the sector generally corrected, with significant short-term capital outflow. ▪ The retail sector overall declined, with market sentiment low. Alibaba-W fell 3.25%, with a transaction amount of HKD 6.467 billion. JD-SW dropped 1.60%, and Miniso fell 3.70%. Core retail leaders were all under pressure, with clear signs of capital exiting at high points. ▪ The telecommunications services sector had the largest decline during the session, becoming an important drag on the market. China Mobile fell 2.88%, with a transaction amount of HKD 5.032 billion. China Telecom dropped 7.62%, and China Unicom fell 8.81%. Due to the impact of the policy raising the VAT rate applicable to some telecommunications services, there was a significant outflow of capital from the sector, and leading companies' stock prices fell sharply due to negative news, showing a clear overall weakening trend. **Macroeconomic Background** ▪ Recent fluctuations in the RMB exchange rate, moderate inflation, and improving export data have become the focus of the market. ▪ The Hong Kong manufacturing PMI is gradually improving, with increased inflow of mainland capital and expectations of favorable policies, driving heightened investor attention. However, affected by short-term macro fluctuations, market volatility has significantly intensified. **Popular Stocks** ▪ MINIMAX-WP (100.HK) rose 8.77%, with a transaction amount of HKD 740 million. Recently, the AI Agent has been very popular, and the company launched desktop and "expert agents," showing strong short-term performance, with high-growth stocks in the sector attracting incremental capital. ▪ Yunzhisheng (9678.HK) increased by 12.61%, with a transaction amount of HKD 576 million. According to previous news, the company expects to achieve revenue of approximately HKD 600 million to 620 million from large model-related businesses by 2025, representing a year-on-year growth of over 1000% compared to 2024. ▪ Shenzhou Holdings (861.HK) rose 11.28%, with a transaction amount of HKD 395 million. The company announced that its indirectly held non-wholly-owned subsidiary, Shenzhou Information, is expected to turn a profit in net profit attributable to the parent company for the fiscal year 2025, leading to increased short-term capital attention and driving the stock price higher. ▪ Outermost Question (2438.HK) increased by 14.75%, with a transaction amount of HKD 13.2418 million. Benefiting from the overall activity of AI and concept stocks, it has gained short-term market favor▪ Base Jinbiao Group (8460.HK) rose 24.68%, with a transaction volume of HKD 112.63 billion. As of February 1st, there have been no significant events or announcements reported by mainstream media, and the stock price has shown significant fluctuations driven by short-term funds, indicating an increase in risk appetite among speculative investors. ▪ Jiufu Lai (8611.HK) rose 19.78%, with a transaction volume of HKD 18.335 million. There are currently no significant events reported by mainstream media, and it is a low market capitalization stock characterized by capital speculation. **Market Transaction Volume TOP10** ▪ Tencent Holdings (00700.HK) latest transaction price HKD 598.00, down 1.32%, transaction volume HKD 7.311 billion ▪ Alibaba -W (09988.HK) latest transaction price HKD 163.70, down 3.25%, transaction volume HKD 6.467 billion ▪ China Mobile (00941.HK) latest transaction price HKD 77.50, down 2.88%, transaction volume HKD 5.032 billion ▪ Zijin Mining (02899.HK) latest transaction price HKD 39.12, down 6.63%, transaction volume HKD 4.156 billion ▪ SMIC (00981.HK) latest transaction price HKD 71.80, down 4.77%, transaction volume HKD 3.931 billion ▪ Xiaomi Group -W (01810.HK) latest transaction price HKD 34.44, down 2.99%, transaction volume HKD 3.315 billion ▪ BYD Company (01211.HK) latest transaction price HKD 90.10, down 7.83%, transaction volume HKD 3.164 billion ▪ Hua Hong Semiconductor (01347.HK) latest transaction price HKD 104.30, down 10.47%, transaction volume HKD 2.932 billion ▪ Meituan -W (03690.HK) latest transaction price HKD 94.60, down 2.67%, transaction volume HKD 2.641 billion ▪ Changfei Optical Fiber and Cable (06869.HK) latest transaction price HKD 86.70, up 3.58%, transaction volume HKD 2.401 billion ### 相關股票 - [Hang Seng TECH Index (STECH.HK)](https://longbridge.com/zh-HK/quote/STECH.HK.md) - [TENCENT (00700.HK)](https://longbridge.com/zh-HK/quote/00700.HK.md) - [KUAISHOU-W (01024.HK)](https://longbridge.com/zh-HK/quote/01024.HK.md) - [BIDU-SW (09888.HK)](https://longbridge.com/zh-HK/quote/09888.HK.md) - [CHINA MOBILE (00941.HK)](https://longbridge.com/zh-HK/quote/00941.HK.md) - [CHINA UNICOM (00762.HK)](https://longbridge.com/zh-HK/quote/00762.HK.md) - [CHINA TELECOM (00728.HK)](https://longbridge.com/zh-HK/quote/00728.HK.md) - [BABA-W (09988.HK)](https://longbridge.com/zh-HK/quote/09988.HK.md) - [MNSO (09896.HK)](https://longbridge.com/zh-HK/quote/09896.HK.md) - [MINIMAX-W (00100.HK)](https://longbridge.com/zh-HK/quote/00100.HK.md) - [BASETROPHY GP (08460.HK)](https://longbridge.com/zh-HK/quote/08460.HK.md) - [MANY IDEA CLOUD (06696.HK)](https://longbridge.com/zh-HK/quote/06696.HK.md) - [UNISOUND (09678.HK)](https://longbridge.com/zh-HK/quote/09678.HK.md) - [DC HOLDINGS (00861.HK)](https://longbridge.com/zh-HK/quote/00861.HK.md) - [MOBVOI (02438.HK)](https://longbridge.com/zh-HK/quote/02438.HK.md) - [MINDTELL TECH (08611.HK)](https://longbridge.com/zh-HK/quote/08611.HK.md) - [JD-SW (09618.HK)](https://longbridge.com/zh-HK/quote/09618.HK.md) ## 相關資訊與研究 - [China Mobile flirts with record dividend yield](https://longbridge.com/zh-HK/news/280987132.md) - [MINISO Extends Hong Kong Share Buybacks as 2025 Results Filed](https://longbridge.com/zh-HK/news/281398103.md) - [China Mobile Limited Reports Earnings Results for the Full Year Ended December 31, 2025](https://longbridge.com/zh-HK/news/280669872.md) - [JD.com Announces Pricing of CNY10 Billion CNY-denominated Senior Notes | JD Stock News](https://longbridge.com/zh-HK/news/281432814.md) - [DBS Sticks to Its Buy Rating for MINISO Group Holding Ltd. 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