Hong Kong stocks intraday | Three major indices fell together, the Hang Seng Index dropped 0.89%, hardware and aluminum sectors led the decline, Alibaba rose against the trend

Market Overview

• As of November 18, the Hong Kong stock market is under pressure, with all three major indices declining:

  The Hang Seng Index fell by 0.89%, closing at 26,149.24 points;

  The Hang Seng China Enterprises Index dropped by 0.75%, closing at 9,258.43 points;

  The Hang Seng Tech Index decreased by 0.62%, closing at 5,721.49 points.

• There were 430 stocks rising in the entire market, 1,425 stocks falling, and 1,269 stocks flat. Overall market sentiment is cautious, with more declines than gains, indicating a risk-averse attitude among investors.

Sector Performance

• The aluminum sector slightly declined, with weak global demand expectations being the main suppressing factor.

  Leading company China Hongqiao fell by 5.02%, with a transaction volume of HKD 14.924 billion, showing significant capital outflow, indicating insufficient short-term confidence in the cyclical sector. China Aluminum Corporation dropped by 1.07%, with a transaction volume of HKD 370 million, and Nanshan Aluminum International slightly decreased by 0.45%, with a transaction volume of HKD 7 million, putting overall pressure on the sector.

• The retail sector experienced fluctuations but remained relatively stable due to the recovery of domestic demand. Alibaba rose by 1.81%, with a transaction volume of HKD 5.881 billion, attracting capital attention against the trend. JD.com slightly fell by 0.35%, hitting a 52-week low. Miniso dropped by 2.30%, with moderate trading activity, indicating that capital is mainly focused on leading companies.

• The hardware, storage, and peripherals sector weakened overall, with significant differentiation within the sector. Xiaomi Group fell by 3.10%, with a transaction volume of HKD 3.572 billion, Lenovo Group dropped by 4.36%, with a transaction volume of HKD 1.151 billion, and Lenovo Holdings decreased by 1.43%. The sector was affected by the differentiation in the tech market, with capital short-term deviating from hardware.

Macroeconomic Background

• Recent economic data for the Hong Kong stock market has shown limited fluctuations, with the unemployment rate rising to 3.9%, and the manufacturing PMI slightly above the neutral line, while the Hong Kong dollar reserves remain stable overall. Retail, exports, and imports continue to show year-on-year growth, with inflation at a low level, leading to relatively stable overall market expectations.
• Despite the stability of the macro fundamentals, the short-term market recovery momentum appears insufficient, with capital leaning more towards leading companies with strong risk resistance or excellent performance.

Popular Stocks

• Chengdu High-Speed rose by 0.49%, with a transaction volume of HKD 71 million, showing moderate performance with limited capital inflow.
• Leading company China Hongqiao fell by 5.02%, with a transaction volume of HKD 14.924 billion, facing significant outflow pressure in both the sector and individual stocks.
• Longpan Technology dropped by 6.52%, with a transaction volume of HKD 9.8 million, showing significant short-term adjustments, and investor sentiment is increasingly cautious.
• Shandong Molong fell by 2.38%, with a transaction volume of HKD 5 million, leading in adjustment magnitude, with short-term buying interest on hold.
• Base Champion Group rose by 5.45%, with a transaction volume of HKD 6 million, showing significant fluctuations but limited transaction amounts, mainly driven by short-term capital.

Top 10 Market Transaction Volumes

1. China Hongqiao, down 5.02%, trading volume HKD 14.919 billion

2. Alibaba, up 1.74%, trading volume HKD 5.856 billion

3. Xiaomi Group, down 3.05%, trading volume HKD 3.569 billion

4. Tencent Holdings, up 0.16%, trading volume HKD 3.173 billion

5. SMIC, up 3.15%, trading volume HKD 2.583 billion

6. Hua Hong Semiconductor, up 6.77%, trading volume HKD 2.149 billion

7. XPeng, down 7.76%, trading volume HKD 2.043 billion

8. Lenovo Group, down 4.46%, trading volume HKD 1.151 billion

9. Ganfeng Lithium, down 3.51%, trading volume HKD 1.068 billion

10. Meituan, down 0.50%, trading volume HKD 1.006 billion