Hong Kong stocks intraday | Three major indices all fell, the technology index dropped 1.29%, the Hang Seng Index fell nearly 1%, blue-chip and technology stocks generally under pressure, Ganfeng Lithium rose against the trend by 7.91

Market Overview

• On November 17, the three major indices of the Hong Kong stock market collectively fell during the session, with the Hang Seng Index reporting 26,313.62 points, down 0.97%.

• The Hang Seng China Enterprises Index fell 0.94%, reporting 9,309.88 points.

• The Hang Seng Tech Index had the largest decline, down 1.29%, reporting 5,737.52 points, indicating renewed pressure on tech stocks.

• A total of 560 stocks rose, 1,295 stocks fell, and 871 stocks remained unchanged, indicating an overall increase in bearish sentiment in the market, with a clear risk-averse attitude among investors, leading to a setback in hot sectors.

Sector Performance

• The retail sector saw a slight decline due to weak consumer demand, with Alibaba -W down 0.52%, trading volume of HKD 13.701 billion; JD.com -SW down 1.80%, trading volume of HKD 0.987 billion; Miniso down 0.86%. There are clear signs of capital outflow from the sector, with rising defensive sentiment among investors.

• The internet content and information sector showed an overall downward trend, with Tencent Holdings down 0.86%, trading volume of HKD 5.795 billion, Baidu -SW down 2.82%, and Kuaishou -W down 1.12%. The leading companies in the industry are diverging, with most funds flowing out of the sector, and some heavyweight stocks under significant pressure.

• The hardware, storage, and peripherals sector had mixed performance but showed an overall downward trend, with Xiaomi Group -W down 1.13%, trading volume of HKD 3.831 billion, Lenovo Group down 4.29%, and Botai Carlink down 2.52%, reflecting that the industry is still affected by recovery fluctuations, with funds adopting a short-term wait-and-see approach.

Macroeconomic Background

• Recently, the Hong Kong stock market has focused on core macro data. The latest unemployment rate for the past three months remains at 3.7%, and the annual CPI is 1.1%, indicating a stable economic foundation and moderate inflation levels.

• Overall, macro indicators are improving, which helps support medium- to long-term confidence in the Hong Kong stock market. However, short-term trading is still influenced by sector rotation and thematic drivers, with attention to be paid to changes in retail and foreign trade data in the future.

Popular Stocks

• Beijing Jingdian Co., Ltd. rose 2.52%, trading volume of HKD 0.077 billion, with active short-term funds and increased market attention.

• PACIFIC LEGEND saw a significant decline, down 12.00%, trading volume of HKD 0.01 billion, performing very weakly, with significant capital outflow.

• Longpan Technology rose 3.95%, trading volume of HKD 0.216 billion, with sector rotation driving capital involvement and strong short-term performance.

• Star Chain Group experienced a sharp drop, down 69.75%, trading volume of HKD 0.021 billion, with risk release and increased liquidity attention.

• Shandong Molong rose slightly by 0.24%, trading volume of HKD 1.22 billion, with overall stable performance.

Market Trading Volume TOP10

• Alibaba -W: down 0.52%, trading volume of HKD 13.695 billion- Tencent Holdings: down 0.86%, turnover HKD 5.794 billion

- Xiaomi Group -W: down 1.13%, turnover HKD 3.829 billion

- SMIC: down 0.20%, turnover HKD 3.738 billion

- Hua Hong Semiconductor: up 0.13%, turnover HKD 2.565 billion

- Meituan -W: unchanged, turnover HKD 2.105 billion

- Pop Mart: down 0.09%, turnover HKD 1.987 billion

- Ping An Insurance: down 1.17%, turnover HKD 1.959 billion

- Ganfeng Lithium: up 7.91%, turnover HKD 1.882 billion

- XPeng -W: down 3.04%, turnover HKD 1.583 billion