Hong Kong stocks intraday | The Hang Seng Tech Index fell over 1.7%, with the technology and retail sectors leading the decline, Ganfeng Lithium plummeted 12.21%

Market Heartbeat
2025.11.21 06:33
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The main indices of the Hong Kong stock market fell across the board during the session, with the Hang Seng Tech Index leading the decline. The technology and retail sectors faced collective pressure, with Alibaba leading the drop among the leaders, and a clear phenomenon of capital outflow. Ganfeng Lithium experienced a significant drop, with high market volatility and prominent structural capital games. Foreign trade remains at a high level, but domestic demand is still under pressure, with macro data dominating short-term market sentiment

Market Overview

▪ On November 21, all three major indices of the Hong Kong stock market fell, with the Hang Seng Index down 1.49% to 25,450.70 points; the Hang Seng China Enterprises Index down 1.42% to 9,013.88 points; and the Hang Seng Tech Index down 1.85% to 5,471.28 points.

▪ As of the time of writing, there were 368 stocks rising in the Hong Kong stock market, 1,886 stocks falling, and 889 stocks closing flat. Overall sentiment is bearish, trading activity is weak, and funds prefer defensive sectors, while growth and cyclical stocks are under pressure.

Sector Performance

▪ The retail sector fell overall, mainly affected by weak consumer demand and performance pressures. Market sentiment is cautious, trading activity has decreased, reflecting a large outflow of funds, with investors avoiding short-term consumer targets.

▪ The hardware, storage, and peripherals sector saw a slight decline, with a strong wait-and-see sentiment in the market. The performance of leading companies was weak, mainly due to weak industry prosperity and macroeconomic uncertainties, with insufficient structural opportunities and cautious entry of incremental funds.

▪ The internet content and information sector adjusted downwards, with tech stocks dragging down the sector's performance overall. Leading companies generally retreated, and there was a clear reduction in fund positions, reflecting the sector's sensitivity to performance realization and external liquidity policies.

Macroeconomic Background

▪ In recent months, Hong Kong's exports and imports maintained high growth rates of 14.5% and 11.5% year-on-year, respectively, indicating resilience in the foreign trade sector. However, the trade deficit remains significant, suppressing the performance of some cyclical and local consumption sectors.

▪ The composite CPI year-on-year continues at a low level, with overall inflation pressure being moderate. In the short term, market fluctuations are still dominated by changes in foreign trade and consumer confidence. Funds are more inclined towards defensive and stable assets to cope with macroeconomic volatility risks.

Popular Stocks

▪ Ganfeng Lithium (1772.HK) fell sharply by 12.21%, with a trading volume of HKD 1.66 billion. The company has no significant new news, but the stock price has dropped sharply, indicating negative market sentiment, with leading stocks dragging down the overall performance of related new energy chains, and funds continuing to flow out, sharply reducing risk appetite.

▪ China Resources Gas (1635.HK) fell by 4.74%, with a trading volume of HKD 650 million. Despite no significant events driving the decline, there was a net outflow of main funds, possibly due to short-term pessimistic expectations and increased volatility in the industry.

▪ Shandong Molong (568.HK) fell by 4.91%, with a trading volume of HKD 77 million, as capital chasing willingness weakened, and the market preferred to avoid high-volatility sectors.

▪ Sanhua Intelligent Control (2050.HK) rose slightly by 0.63%, with a trading volume of HKD 853 million. Fund performance was relatively strong, maintaining resilience in a weak market, showing characteristics of some leading stocks and structural expectation games.

▪ Gaodi Co., Ltd. (1676.HK) rose by 8.20%, with a trading volume of HKD 12 million, showing clear short-term speculative trading, becoming a highlight of strength against the trend.

Top 10 Market Trading Volumes

▪ Alibaba -W (9988.HK) latest trading price is HKD 149.40, down 3.49%, with a trading volume of HKD 15.10 billion ▪ Xiaomi Group -W (1810.HK) latest transaction price HKD 38.24, up 1.43%, transaction amount HKD 12.332 billion

▪ Tencent Holdings (700.HK) latest transaction price HKD 610.00, down 1.77%, transaction amount HKD 8.763 billion

▪ SMIC (981.HK) latest transaction price HKD 69.90, down 4.90%, transaction amount HKD 5.256 billion

▪ Meituan -W (3690.HK) latest transaction price HKD 96.75, down 1.78%, transaction amount HKD 2.954 billion

▪ Pop Mart (9992.HK) latest transaction price HKD 198.40, down 1.49%, transaction amount HKD 2.757 billion

▪ CATL (3750.HK) latest transaction price HKD 462.40, down 4.27%, transaction amount HKD 2.218 billion

▪ Hua Hong Semiconductor (1347.HK) latest transaction price HKD 73.50, down 5.77%, transaction amount HKD 2.108 billion

▪ Ping An Insurance (2318.HK) latest transaction price HKD 57.05, down 2.06%, transaction amount HKD 1.920 billion

▪ BYD Company (1211.HK) latest transaction price HKD 93.60, down 1.68%, transaction amount HKD 1.799 billion

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