Hong Kong stocks closed higher | All three major indices rose, with the lithium sector leading the gains; Ganfeng Lithium surged 12%, Alibaba rose over 3% on increased volume

Market Heartbeat
2025.11.13 08:13
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All three major Hong Kong stock indices closed higher, with the Hang Seng Tech Index leading the main board with an increase of nearly 0.7%. The lithium sector surged strongly, with Ganfeng Lithium rising more than 12%, showing impressive performance. Leading internet stock Alibaba rose over 3%. The improvement in the overseas liquidity environment and the domestic macro recovery jointly drove a significant rebound in risk appetite

Current Situation of the Three Major Indices

  • Hang Seng Index (HSI.HK): Up 0.56%, at 27,073.03 points
  • Hang Seng China Enterprises Index (HSCEI.HK): Up 0.63%, at 9,599.06 points
  • Hang Seng Tech Index (HSTECH.HK): Up 0.80%, at 5,981.3 points

Individual stock closing performance: 1,208 stocks rose, 981 stocks fell, and 934 stocks closed flat.

Sector Performance

Retail Sector

The sector showed a mixed performance throughout the day, influenced by consumer data and industry policies, with funds becoming more cautious.

  • Alibaba (9988.HK): Up 3.32%, with a transaction volume of HKD 24.785 billion. The stable performance in the third quarter strengthened investor confidence, with significant inflows from southbound funds. The market is optimistic about the management's new strategic upgrades and business synergy expectations.
  • JD.com (9618.HK): Down 0.24%, with a transaction volume of HKD 1.489 billion. Slowing revenue growth in a single quarter led to capital outflows, increasing short-term pressure on performance. The competitive landscape in the industry has investors concerned about future profit improvement paths.
  • Miniso (9896.HK): Down 1.65%, with a transaction volume of HKD 0.182 billion. After a rebound during the day, it fell back, reflecting consumption differentiation. The market is focused on the pace of store expansion and the impact of cost control on profit drivers.

Internet Content and Information Sector

Under high valuation pressure, the sector experienced short-term fluctuations, with funds showing structural reallocation.

  • Tencent Holdings (700.HK): Down 0.15%, with a transaction volume of HKD 11.283 billion. Platform business is affected by regulatory and gaming performance expectations, leading the market to be cautious about future profit performance. There is a clear trend of net buying from southbound funds, with domestic capital allocation sentiment dominating.
  • Kuaishou (1024.HK): Down 0.86%, with a transaction volume of HKD 2.087 billion. Fluctuations in a high range, with intense trading capital competition. The market is focused on user growth and the sustainability of traffic monetization.
  • Baidu (9888.HK): Down 0.08%, with a transaction volume of HKD 1.865 billion. Search and AI business innovations still face fierce external competition. Investors are paying attention to local growth opportunities and profit realization.

Hardware, Storage, and Peripheral Sector

Limited industry fluctuations, mainly due to differentiated attention to technological innovation, with operations focused on short-term trading.

  • Xiaomi Group (1810.HK): Down 0.46%, with a transaction volume of HKD 6.902 billion. The launch of new products has driven a rebound in consumer electronics enthusiasm, but industry cycle pressures remain. The market expects product structure optimization to bring profit elasticity.
  • Lenovo Group (992.HK): Down 1.18%, with a transaction volume of HKD 0.593 billion. The growth rate of AI hardware and enterprise transformation business is acceptable, but affected by the overall decline in global PCs. Long-term transformation attracts some capital attention to mid-term allocation value.
  • BYD Group (1263.HK): Up 1.82%, with a transaction volume of HKD 0.022 billion. The implementation of projects in niche areas has slightly boosted revenue, and the market recognizes its growth potential. Funds are chasing emerging hardware demand-related targets

Market Focus

1. Core Macro and Industry Focus News: In recent months, several Federal Reserve officials have stated that high interest rates will be maintained for the year. Global liquidity pressure has improved, and liquidity in the Hong Kong stock market has significantly rebounded. The RMB exchange rate has risen to around 7.10, and the China-U.S. interest rate spread has narrowed; domestic CPI and PMI have recently turned positive, and policy stimulus continues, helping to enhance risk appetite in the Hong Kong stock market and attract external capital inflow.

2. Capital Flow: Data from Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect show that technology leaders such as Tencent, Meituan, and Kuaishou have been continuously increased in recent months, recording net purchases of HKD 460 million, HKD 1.009 billion, and HKD 1.173 billion respectively, with valuation centers shifting upward, and overall market activity remaining high.

Top Ten Stocks by Trading Volume

  1. Alibaba (9988.HK), trading price HKD 162.00, increase 3.32%, trading volume HKD 24.785 billion
  2. Tencent Holdings (700.HK), trading price HKD 656.00, decrease 0.15%, trading volume HKD 11.283 billion
  3. Xiaomi Group (1810.HK), trading price HKD 43.50, decrease 0.46%, trading volume HKD 6.902 billion
  4. SMIC (981.HK), trading price HKD 75.60, increase 3.21%, trading volume HKD 6.548 billion
  5. China Resources Mixc Lifestyle (1209.HK), trading price HKD 44.50, decrease 3.51%, trading volume HKD 3.449 billion
  6. Meituan (3690.HK), trading price HKD 102.10, increase 0.29%, trading volume HKD 3.422 billion
  7. Ping An Insurance (2318.HK), trading price HKD 60.95, increase 1.08%, trading volume HKD 3.156 billion
  8. Hua Hong Semiconductor (1347.HK), trading price HKD 78.65, increase 5.64%, trading volume HKD 3.083 billion
  9. Ganfeng Lithium (1772.HK), trading price HKD 59.80, increase 12.09%, trading volume HKD 2.494 billion
  10. China Life Insurance (2628.HK), trading price HKD 28.30, increase 2.39%, trading volume HKD 2.336 billion
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