Market Overview
▪ The Hong Kong stock market closed today, with all three major indices under pressure.
▪ The Hang Seng Index closed at 25,765.36 points, down 1.23%, failing to continue its previous upward trend, showing a significant correction since reaching a peak on November 13.
▪ The Hang Seng Tech Index closed at 5,662.55 points, flat for the day, still some distance from the peak on November 13, with strong market caution.
▪ The China Enterprises Index closed at 9,083.53 points, down 1.25%, giving back gains from last Friday, with a cautious attitude from investors.
Sector Performance
▪ The retail sector performed prominently today, benefiting from popular movie IPs driving consumption and AI innovation, leading to increased capital activity. Miniso rose 2.64%, driven by the success of blockbuster movies and co-branded products, becoming a focus of capital inflow.
▪ The hardware storage sector showed weak performance, with major companies affected by rating changes and industry competition pressures, resulting in significant capital outflow. Xiaomi Group fell 0.47%, while Lenovo Group dropped 0.80%, with the sector overall under pressure and a pronounced structural market.
▪ Internet content-related stocks showed mixed performance, with capital mainly flowing into growth stocks with chip or spin-off expectations. Baidu rose 3.45% against the trend, attracting capital attention due to expectations of a chip spin-off plan, while Tencent Holdings fell 0.82%, indicating a clear divergence among leaders.
Macroeconomic Background
▪ The Hong Kong stock market is focused on the year-on-year retail sales volume rising to 5.3%, indicating a recovery in consumer behavior. Overall economic data shows stable performance, with the recovery in consumption supporting market confidence. External demand and local employment, among other economic fundamentals, remain key points of focus for the market, with investment sentiment showing mild improvement but no significant heating up.
Popular Stocks
▪ LEMO SERVICES (2539.HK) rose 47.86%, surging in the closing hours, indicating extremely high enthusiasm in the new stock market, with a total trading volume of HKD 35.7416 million.
▪ Xinneng Low Carbon (145.HK) rose 64.29%, although there was no clear news driving the movement, the new stock sector was overall favored by capital, with a trading volume of HKD 11.2431 million.
▪ Tianyu Semiconductor (2658.HK) rose 27.65%, with the new stock sector receiving significant attention, continuous capital inflow led to a trading volume of HKD 126.8419 million, becoming a key trading target.
▪ Doumeng Technology (1917.HK) rose 32.31%, with clear capital speculation factors, and a total trading volume of HKD 1.3630 million.
▪ Accor Holdings (3313.HK) rose 30.30%, with active inflow of capital in emerging sectors, achieving a trading volume of HKD 3.7142 million.
Market Trading Volume TOP10
▪ Alibaba -W (9988.HK) latest trading price HKD 153.40, down 1.03%, with a trading volume of HKD 11.582 billion
▪ Xiaomi Group -W (1810.HK) latest transaction price HKD 42.58, down 0.47%, transaction amount HKD 10.365 billion
▪ Tencent Holdings (700.HK) latest transaction price HKD 605.00, down 0.82%, transaction amount HKD 8.134 billion
▪ Pop Mart (9992.HK) latest transaction price HKD 200.40, down 8.49%, transaction amount HKD 5.687 billion
▪ Ping An Insurance (2318.HK) latest transaction price HKD 61.75, up 2.15%, transaction amount HKD 5.238 billion
▪ SMIC (981.HK) latest transaction price HKD 71.80, up 2.94%, transaction amount HKD 4.988 billion
▪ Innovent Biologics (1801.HK) latest transaction price HKD 85.60, down 6.96%, transaction amount HKD 4.607 billion
▪ China Construction Bank (939.HK) latest transaction price HKD 7.66, down 4.01%, transaction amount HKD 3.580 billion
▪ Meituan -W (3690.HK) latest transaction price HKD 99.50, up 0.45%, transaction amount HKD 3.102 billion
▪ Baidu -SW (9888.HK) latest transaction price HKD 125.80, up 3.45%, transaction amount HKD 3.041 billion

Today, the Hong Kong stock market closed with the Hang Seng Index, Hang Seng Tech Index, and the National Enterprises Index all declining. The market atmosphere is cautious, with funds shifting towards a more prudent approach. There is a lack of significant differentiation among sectors, but new and recently listed stocks performed prominently, becoming the focus of funds. Retail sales data showed signs of recovery, providing support for the market. Among the top ten by trading volume, Alibaba, Xiaomi, and Tencent ranked at the forefront, with leading stocks showing clear differentiation in performance

- The Hong Kong stock market closed with all three major indices under pressure, with the Hang Seng Index down 1.23% at 25,765.36 points.  
- Retail stocks performed well, driven by popular movie IPs and AI innovations, while hardware storage stocks faced declines due to rating changes and competitive pressures.  
- The market showed cautious optimism as retail sales rose 5.3%, indicating a recovery in consumer behavior, although external demand and local employment remain key focus areas.

LB Select

Baidu

BIDU-SW

LEMO SERVICES

MNSO

XIAOMI-W

LENOVO GROUP

TENCENT

CCIAM FUTURE EN

TIANYU SEMI

DOUMOB

ARTGO HOLDINGS

BABA-W

POP MART

PING AN

Hong Kong stocks close | Three major indices pull back, Baidu's spin-off news stimulates stock price to rise by 3.45%, popular new stock LEMO SERVICES rises by 47.86% leading market focus