--- title: "Hong Kong Stocks Intraday | Three Major Indices Decline Collectively, QuantumPharm Rises 3.96% Against the Trend" type: "News" locale: "zh-HK" url: "https://longbridge.com/zh-HK/news/280554798.md" description: "On March 26, Hong Kong stocks faced pressure during intraday trading, with the Hang Seng Index and Hang Seng Tech Index retreating collectively. The system software and life sciences sectors showed divergent volatility, while QuantumPharm strengthened against the trend, rising 3.96%. Market liquidity concentrated in leading companies such as KUAISHOU-W, MEITUAN, and POP MART, reflecting investors' cautious wait-and-see sentiment amid macroeconomic fluctuations and geopolitical risk concerns" datetime: "2026-03-26T02:33:01.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/280554798.md) - [en](https://longbridge.com/en/news/280554798.md) - [zh-HK](https://longbridge.com/zh-HK/news/280554798.md) --- > 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/280554798.md) | [English](https://longbridge.com/en/news/280554798.md) # Hong Kong Stocks Intraday | Three Major Indices Decline Collectively, QuantumPharm Rises 3.96% Against the Trend **Market Overview** ▪ During intraday trading on March 26, Hong Kong stocks faced pressure. As of press time, the three major indices collectively declined, as yesterday's rally failed to continue. ▪ The HSI stood at 24980.81, down 1.40%, failing to reach a new phase high. It has retreated from the phase high on March 25 and is currently below the 25000-point mark. ▪ The Hang Seng Tech Index was at 4828.52, down 1.92%, failing to continue its phase high. It gave back gains from the high on March 25 and remains above 4800. ▪ The HSCEI stood at 8444.96, down 1.61%, also failing to reach a new phase high. It retreated from the high on March 25 and is above 8400. ▪ Future attention will be on whether the indices can return above yesterday's highs; sentiment recovery remains to be observed. **Sector Performance** ▪ The consumer electronics and retail sectors faced pressure during intraday trading. POP MART saw a significant decline, at one point falling over 10% intraday, and currently stands at a 6.95% drop with a turnover of HK$8.237 billion. Following the release of its H2 2025 results, the company's 2026 earnings guidance was conservative. Additionally, HSBC lowered its target price for the company, which, coupled with poor performance in its overseas business, led to clear capital outflows and a decrease in market risk appetite. ▪ Alibaba weakened in line with the technology and internet sectors, falling 3.34% intraday with a turnover of HK$4.627 billion. Although there were brief rebounds as capital intervened at lower levels, the stock remained under overall pressure. JD.com showed resilience within the sector, rising 2.22% against the trend with a turnover of HK$706 million, reflecting a defensive stance by capital and recognition of its fundamental improvements. ▪ The internet content and information sector broadly declined during intraday trading. KUAISHOU-W's decline was particularly prominent, plummeting 13.25% intraday with a turnover of HK$4.936 billion. Despite stable earnings performance, the cessation of separate disclosure of e-commerce GMV and a conservative outlook heightened market doubts, leading to concentrated capital outflows. TENCENT showed overall resilience, with a slight dip of 0.79% intraday and a turnover of HK$4.052 billion, affected by overall market valuations and risk-off sentiment in tech stocks. **Macroeconomic Background** ▪ Recent macroeconomic indicators for Hong Kong stocks have been stable, with moderate economic growth and limited inflationary pressure. The fundamental environment is in a recovery phase. ▪ Market participants are currently highly focused on changes in external liquidity and geopolitical risks. These factors remain the main variables affecting Hong Kong stock volatility, leading to a defensive market sentiment. **Hot Stocks** ▪ QuantumPharm (2228.HK) performed brightly, rising 3.96% intraday and boosting the popularity of life science-related sectors. ▪ AKESO (9926.HK) rose 3.94% intraday with a turnover of HK$921 million; ▪ Ganfeng Lithium (1772.HK) rose 3.89% with a turnover of HK$761 million, reflecting market interest in allocating to pharmaceutical and resource leaders. ▪ YOFC (6869.HK) rose 0.65% with a turnover of HK$2.336 billion; ▪ XIAOMI-W (1810.HK) edged up 0.06% with a turnover of HK$2.141 billion; trading in large-cap core assets remained active. ▪ KNOWLEDGE ATLAS (2513.HK) fell 0.26%, while MINIMAX-W (100.HK) fell 0.74% ▪ AIA (1299.HK) fell 0.06%, trading within a narrow range amidst the market correction. **Top 10 Market Turnover** ▪ POP MART (09992.HK) latest price 155.5 HKD, decline 7.61%, turnover 7.658 billion ▪ KUAISHOU-W (01024.HK) latest price 46.26 HKD, decline 12.80%, turnover 4.629 billion ▪ BABA-W (09988.HK) latest price 124.7 HKD, decline 3.26%, turnover 4.114 billion ▪ MEITUAN (03690.HK) latest price 87.5 HKD, decline 2.78%, turnover 3.785 billion ▪ TENCENT (00700.HK) latest price 500.5 HKD, decline 0.99%, turnover 3.477 billion ▪ YOFC (06869.HK) latest price 186.5 HKD, increase 0.81%, turnover 2.335 billion ▪ XIAOMI-W (01810.HK) latest price 32.56 HKD, increase 0.12%, turnover 2.141 billion ▪ AIA (01299.HK) latest price 86.75 HKD, decline 0.06%, turnover 1.067 billion ▪ CHINA LIFE (02628.HK) latest price 25.46 HKD, decline 6.94%, turnover 0.992 billion ▪ CNOOC (00883.HK) latest price 28.34 HKD, decline 0.56%, turnover 0.939 billion ### 相關股票 - [POP MART (09992.HK)](https://longbridge.com/zh-HK/quote/09992.HK.md) - [KUAISHOU-W (01024.HK)](https://longbridge.com/zh-HK/quote/01024.HK.md) - [BABA-W (09988.HK)](https://longbridge.com/zh-HK/quote/09988.HK.md) - [MEITUAN (03690.HK)](https://longbridge.com/zh-HK/quote/03690.HK.md) - [TENCENT (00700.HK)](https://longbridge.com/zh-HK/quote/00700.HK.md) - [YOFC (06869.HK)](https://longbridge.com/zh-HK/quote/06869.HK.md) - [XIAOMI-W (01810.HK)](https://longbridge.com/zh-HK/quote/01810.HK.md) - [AIA (01299.HK)](https://longbridge.com/zh-HK/quote/01299.HK.md) - [CHINA LIFE (02628.HK)](https://longbridge.com/zh-HK/quote/02628.HK.md) - [CNOOC (00883.HK)](https://longbridge.com/zh-HK/quote/00883.HK.md) - [AKESO (09926.HK)](https://longbridge.com/zh-HK/quote/09926.HK.md) - [KNOWLEDGE ATLAS (02513.HK)](https://longbridge.com/zh-HK/quote/02513.HK.md) - [JD-SW (09618.HK)](https://longbridge.com/zh-HK/quote/09618.HK.md) - [XTALPI (02228.HK)](https://longbridge.com/zh-HK/quote/02228.HK.md) - [Hang Seng TECH Index (STECH.HK)](https://longbridge.com/zh-HK/quote/STECH.HK.md) - [Hang Seng Index (00HSI.HK)](https://longbridge.com/zh-HK/quote/00HSI.HK.md) ## 相關資訊與研究 - [Pop Mart shares sink despite revenue surge, as analysts say Labubu reliance worries investors](https://longbridge.com/zh-HK/news/280487493.md) - [Pop Mart Revenue Tops 30 Billion Net Profit Surges 284%, Why Did Stock Price Plummet 15%?](https://longbridge.com/zh-HK/news/280420484.md) - [Pop Mart; files HKEX next-day disclosure return; share repurchase price per share narrows to HKD 152.21](https://longbridge.com/zh-HK/news/280599230.md) - [Labubu maker Pop Mart meets 2025 revenue expectations](https://longbridge.com/zh-HK/news/280414763.md) - [Pop Mart International Group Limited Reports Earnings Results for the Full Year Ended December 31, 2025](https://longbridge.com/zh-HK/news/280465412.md)