Market Overview
▪ The three major indices of the Hong Kong stock market closed lower today.
▪ The Hang Seng Index closed at 27,387.11 points, down 2.08% for the day, failing to continue the previous upward trend and not reaching a new high since January 29.
▪ The Hang Seng Tech Index closed at 5,718.18 points, down 2.10%, also failing to break through the previous trading day's high, currently consolidating below the recent high.
▪ The China Enterprises Index closed at 9,317.09 points, down 2.47% intraday, showing a significant decline compared to the previous day's high, failing to reach a new high.
Sector Performance
▪ The internet content and information sector collectively fell today, significantly affected by market risk aversion and capital outflows. Leading stock Tencent Holdings fell 2.57%, with a trading volume of HKD 13.127 billion, showing an outflow of funds throughout the day. Kuaishou fell 3.38%, with a trading volume of HKD 1.987 billion, following the collective pullback of tech heavyweights. Baidu fell 1.74%, with a trading volume of HKD 1.860 billion, with no major company news, still influenced by the overall tech sector. Market sentiment is weak, with short-term volatility increasing among tech heavyweights, and funds concentrated on large-cap stocks to seek risk aversion and rebound opportunities.
▪ The retail sector also saw a broad decline. Alibaba fell 2.37%, with a trading volume of HKD 12.703 billion, with no significant positive news for the company, driven by sector sentiment. JD fell 1.92%, with a trading volume of HKD 1.763 billion, under pressure with a lack of highlights in the sector. MNSO fell 3.00%, with a trading volume of HKD 119 million, showing a clear decline in risk appetite, with funds tending to remain cautious. The retail sector is suppressed by macro sentiment, with overall trading activity not high, making it difficult for sustained performance in the short term.
▪ The gold sector saw significant declines today. Zijin Mining fell sharply by 9.19%, with a trading volume of HKD 7.918 billion, with industry funds concentrated on outflows. Zijin Gold International fell 10.70%, with a trading volume of HKD 2.372 billion. SD GOLD fell 14.31%, with a trading volume of HKD 1.788 billion. The sector is overall affected by a significant adjustment in global safe-haven asset prices, with short-term pressure continuing to be released. The resource sector is experiencing severe market value fluctuations, with investors showing strong risk aversion.
Macroeconomic Background
▪ The market has recently focused on import and export trade data, GDP growth rates, and retail sales year-on-year performance, influenced by domestic and external supply and demand and fluctuations in the RMB exchange rate, with investors paying more attention to policy expectations and capital flow trends. In the short term, the Hong Kong stock market shows clear signs of volatility and differentiation, with structural opportunities needing to be actively seized.
Popular Stocks
▪ Man Shun GP (1746.HK) surged 57.14% today, with a trading volume of HKD 18.6431 million. The company has been temporarily suspended from trading since 9:00 AM on January 29, announcing that it will release insider information related to compliance disclosure. The stock suspension may temporarily affect market liquidity, and if subsequent positive news materializes, it is expected to trigger significant price fluctuations after resumption of trading
▪ CHINA CHUNLAI (1969.HK) rose 22.76%, with a trading volume of HKD 1.413 billion. At one point during the day, it surged over 66%, reaching a high of HKD 5.18, a new four-month high. The increase in stock price is attributed to policy-driven factors and market demand resonance, as the private higher education sector shifts towards quality improvement, with a friendly policy environment combined with fundamental improvements, leading to significant capital inflows into the sector and highlighting structural opportunities.
▪ NANFANG COMM (1617.HK) rose 19.86%, with a trading volume of HKD 5.258 million. There were no major news disclosures, but increased capital participation and active market performance were noted.
▪ TR INTERIORS (6162.HK) rose 12.67%, with a trading volume of HKD 8.6007 million. There are no special news updates, but short-term capital interest has increased, leading to noticeable stock price fluctuations.
Market Trading Volume TOP10
▪ TENCENT (700.HK) latest trading price HKD 606.00, down 2.57%, trading volume HKD 13.127 billion
▪ Alibaba -W (9988.HK) latest trading price HKD 169.20, down 2.37%, trading volume HKD 12.703 billion
▪ ZIJIN MINING (2899.HK) latest trading price HKD 41.90, down 9.19%, trading volume HKD 7.918 billion
▪ CSPC PHARMA (1093.HK) latest trading price HKD 9.60, down 10.20%, trading volume HKD 5.545 billion
▪ PING AN (2318.HK) latest trading price HKD 72.70, down 0.82%, trading volume HKD 5.206 billion
▪ XIAOMI GROUP -W (1810.HK) latest trading price HKD 35.50, down 3.06%, trading volume HKD 5.085 billion
▪ CNOOC (883.HK) latest trading price HKD 24.38, down 2.40%, trading volume HKD 4.331 billion
▪ SMIC (981.HK) latest trading price HKD 75.40, down 2.39%, trading volume HKD 4.002 billion
▪ AIA (1299.HK) latest trading price HKD 90.35, down 0.66%, trading volume HKD 3.677 billion
▪ CHINA LIFE (2628.HK) latest trading price HKD 34.88, down 1.80%, trading volume HKD 3.202 billion

Today, the three major indices of the Hong Kong stock market closed lower, with the Hang Seng Index down 2.08%, the Hang Seng Tech Index down 2.10%, and the National Enterprises Index down 2.47%. The technology, retail, and gold sectors performed poorly, with leading stock Tencent Holdings down 2.57% and Zijin Mining down 9.19%. Risk aversion sentiment among investors has increased, putting pressure on most sectors, while funds are concentrated in large-cap core assets. A few structural sectors, such as private education, have strengthened, leading to increased market volatility and divergence

- The Hong Kong stock market experienced a collective decline today, with the Hang Seng Index closing at 27,387.11 points, down 2.08%.  
- The technology sector, including major stocks like Tencent and Alibaba, faced significant drops due to heightened risk-averse sentiment among investors.  
- Notably, Wan Shun Group Holdings surged by 57.14% amid a halt for potential insider news, while China Chunlai rose 22.76% on favorable policy developments.

Market Heartbeat

Zijin Mining

BABA-W

TENCENT

JD-SW

MNSO

KUAISHOU-W

BIDU-SW

SD GOLD

ZIJIN MINING

ZIJIN GOLD INTL

MAN SHUN GP

CHINA CHUNLAI

NANFANG COMM

TR INTERIORS

CSPC PHARMA

Tencent Holdings Limited

Tencent

Hong Kong stocks close | The Hang Seng Index fell 2.08%, the Hang Seng Tech Index fell 2.10%, gold and technology sectors saw significant corrections