Hong Kong Stock Market Update | The Hang Seng Index fell 1.92%, with technology stocks and the aluminum sector declining. CHINAHONGQIAO dropped 6.69%, leading the decline among hot stocks

The three major indices of the Hong Kong stock market fell simultaneously during the trading session, with overall market sentiment being weak and significant differentiation among individual stocks. Major sectors such as aluminum and internet content and information are under notable pressure. Capital flows remain concentrated in certain leading stocks. Inflation and employment data are stable, and short-term market sentiment is cautious

Market Overview

On November 18, all three major indices of the Hong Kong stock market fell:

The Hang Seng Index dropped 1.92%, closing at 25,876.69 points;

The Hang Seng China Enterprises Index fell 1.87%, closing at 9,153.81 points;

The Hang Seng Tech Index decreased by 2.26%, closing at 5,626.88 points.
As of the time of writing, only 403 stocks in the market rose, while 1,808 stocks fell, and 913 stocks remained flat. Overall, the market is dominated by short positions, with declines concentrated in heavyweight and popular sectors. Investor sentiment is cautious, and risk appetite for capital has decreased.

Sector Performance

The aluminum sector experienced overall downward volatility. Affected by supply changes and cost factors, the leading company CHINAHONGQIAO fell by as much as 6.69%, with a transaction volume of HKD 16.215 billion, indicating significant panic selling; Aluminum Corporation of China dropped 4.20%, with a transaction volume of HKD 807 million, and Nanshan Aluminum International fell 2.96%, with a transaction volume of HKD 27 million. Capital is withdrawing from the sector, putting short-term sentiment under pressure.
The retail sector saw a slight decline, mainly due to insufficient consumer recovery momentum. Alibaba -W fell slightly by 0.06%, with active trading and a daily transaction volume of HKD 11.685 billion; JD.com -SW dropped 0.78%, and Miniso fell 1.73%. The industry leaders did not show significant positive news, and most capital remained on the sidelines.
The internet content and information sector faced pressure across the board. Affected by slowing traffic growth and regulatory pressures, Tencent Holdings fell 2.04%, with a transaction volume of HKD 7.547 billion; Kuaishou -W dropped 4.27%, and Baidu -SW fell 2.02%, with transaction volumes of HKD 1.657 billion and HKD 877 million, respectively. The phenomenon of capital outflow from leading companies is prominent, with data and news dragging down sector performance.

Macroeconomic Background

Hong Kong's latest three-month unemployment rate is 3.9%, and the overall CPI annual rate remains at 1.1%. The overall data performance is stable, reflecting a moderate recovery momentum in the Hong Kong economy. The macro environment is stable, but growth momentum is limited, and it is expected to continue guiding investors to maintain a wait-and-see attitude in the short term, lacking significant external drivers for volatility.

Popular Stocks

Longpan Technology fell 5.22%, with a transaction volume of HKD 177 million, showing significant capital outflow and high short-term risk.
Chengdu Expressway rose 0.49%, with a transaction volume of HKD 71 million, with today's transaction volume surging.
Haotian International Construction Investment rose 5.93%, with a transaction volume of HKD 183 million, attracting increased capital attention.
China Resources Gas rose 3.05%, with a transaction volume of HKD 253 million, receiving heavy investment from public funds, but no sudden news to drive it.
Base Championship Group fell 1.82%, with a transaction volume of HKD 14 million, ranking among the top in the sector for the past six months.

Market Transaction Volume TOP10

CHINAHONGQIAO (1378.HK): Stock price HKD 30.14, transaction volume HKD 16.214 billion
Alibaba -W (9988.HK): Stock price HKD 154.70, trading volume HKD 11.672 billion.
Tencent Holdings (700.HK): Stock price HKD 623.50, trading volume HKD 7.546 billion.
Xiaomi Group -W (1810.HK): Stock price HKD 40.82, trading volume HKD 6.530 billion.
SMIC (981.HK): Stock price HKD 73.85, trading volume HKD 4.378 billion.
Hua Hong Semiconductor (1347.HK): Stock price HKD 79.85, trading volume HKD 3.773 billion.
XPeng -W (9868.HK): Stock price HKD 85.85, trading volume HKD 3.578 billion.
Lenovo Group (992.HK): Stock price HKD 9.63, trading volume HKD 2.411 billion.
Meituan -W (3690.HK): Stock price HKD 98.20, trading volume HKD 2.286 billion.
China National Offshore Oil Corporation (883.HK): Stock price HKD 21.68, trading volume HKD 1.972 billion