Market Overview
▪ On February 2, Hong Kong stocks closed lower, with all three major indices declining.
▪ The Hang Seng Index closed at 26,775.57 points, down 2.23%.
▪ The Hang Seng Tech Index closed at 5,526.31 points, down 3.36%.
▪ The National Enterprises Index closed at 9,080.19 points, down 2.54%.
Sector Performance
▪ The internet content and information sector fell across the board, with leading companies generally under pressure. Tencent Holdings fell 1.24%, with a total trading volume of HKD 16.668 billion; Kuaishou-W dropped 3.93%, with a trading volume of HKD 2.859 billion. Kuaishou has strengthened its &#34;AI modification&#34; content governance since January, continuously optimizing the platform ecosystem and enhancing its compliance image; Baidu-SW fell 3.99%, with a trading volume of HKD 2.689 billion. The tightening of regulations and macroeconomic uncertainties have affected industry sentiment, leading to a cautious stance among investors.
▪ The retail sector generally declined, impacted by insufficient consumer momentum and weakening demand. Alibaba-W fell 3.49%, with a total trading volume of HKD 16.483 billion; JD-SW fell 1.69%, with a trading volume of HKD 1.530 billion; Miniso fell 3.75%. Mainstream consumer leaders are under pressure, with noticeable capital outflows from the sector, as investors adopt a cautious wait-and-see approach.
▪ The gold sector led the market decline, with significant capital outflows driven by fluctuations in gold prices. Zijin Mining fell 5.58%, with a total trading volume of HKD 7.200 billion; Zijin Gold International fell 7.87%; Shandong Gold plummeted 12.56%, with a trading volume of HKD 2.229 billion. The short-term sentiment in this sector is low, with increased industry volatility.
Macroeconomic Background
▪ Recently, the Hong Kong stock market has focused on changes in foreign exchange reserves, consumer data, and unemployment rates, as well as the trends in trade and manufacturing PMI.
▪ The overall pace of economic recovery, inflation pressures, and changes in global liquidity have a significant impact on the future performance of Hong Kong stocks. Investors are closely monitoring changes in macro data, which will dominate the market in the short term.
Popular Stocks
▪ MINIMAX-WP (100.HK) rose 10.68%, with a trading volume of HKD 1.182 billion. The recent high interest in AI Agents has led the company to launch desktop and &#34;expert agents,&#34; showing strong short-term performance, with high-growth stocks in the sector attracting incremental capital.
▪ Jinyi Group Holdings (565.HK) rose 13.97%, with a trading volume of HKD 73.2184 million. There are no recent major news, but it has attracted speculative capital, showing outstanding short-term gains.
▪ Base Champion Group (8460.HK) rose 24.68%, with a trading volume of HKD 16.7660 million. There are no obvious news stimuli, but short-term capital is active, significantly increasing market interest.
▪ Out the Door (2438.HK) rose 13.11%, with a trading volume of HKD 24.0169 million. The competition in the AI industry has intensified, with giants increasing investments to boost the digital economy and AI-related stocks, making technological innovation a key focus for capital, driving overall sector interest
▪ Modern Chinese Medicine Group (1643.HK) rose 19.18%, with a transaction amount of HKD 3.1259 million, as funds prefer innovative drugs and small pharmaceutical stocks, creating a strong short-term speculation atmosphere.
Market Transaction Amount TOP10
▪ Tencent Holdings (00700.HK) latest transaction price HKD 598.50, down 1.24%, transaction amount HKD 16.668 billion
▪ Alibaba -W (09988.HK) latest transaction price HKD 163.30, down 3.49%, transaction amount HKD 16.483 billion
▪ Zijin Mining (02899.HK) latest transaction price HKD 39.56, down 5.58%, transaction amount HKD 7.200 billion
▪ SMIC (00981.HK) latest transaction price HKD 72.20, down 4.24%, transaction amount HKD 7.083 billion
▪ China Mobile (00941.HK) latest transaction price HKD 78.00, down 2.26%, transaction amount HKD 6.972 billion
▪ Xiaomi Group -W (01810.HK) latest transaction price HKD 35.06, down 1.24%, transaction amount HKD 6.413 billion
▪ BYD Company (01211.HK) latest transaction price HKD 91.00, down 6.91%, transaction amount HKD 5.925 billion
▪ Meituan -W (03690.HK) latest transaction price HKD 94.85, down 2.42%, transaction amount HKD 5.177 billion
▪ HUA HONG SEMI (01347.HK) latest transaction price HKD 103.40, down 11.24%, transaction amount HKD 4.870 billion
▪ Ping An Insurance (02318.HK) latest transaction price HKD 70.70, down 2.75%, transaction amount HKD 4.235 billion

On February 2nd, Hong Kong stocks closed lower across the board, with all three major indices declining and the technology sector under pressure. The top ten stocks by trading volume all closed in the green, reflecting short-term profit-taking pressure in the market. The pace of economic recovery and macro data have become the focus of attention, with an increase in cautious sentiment among investors

- On February 2, Hong Kong stocks fell, with the Hang Seng Index closing at 26,775.57, down 2.23%.  
- The consumer and retail sectors faced declines due to weak demand, while the gold sector saw significant outflows amid price volatility; top companies like Tencent and Alibaba experienced notable drops in share prices.  
- Investors are closely monitoring macroeconomic indicators such as foreign exchange reserves and unemployment rates, which are expected to significantly impact the market's future performance.

Market Heartbeat

HUA HONG SEMI

Hang Seng Index

TENCENT

KUAISHOU-W

BIDU-SW

BABA-W

JD-SW

MNSO

ZIJIN MINING

ZIJIN GOLD INTL

SD GOLD

MINIMAX-WP

ART GROUP HOLD

BASETROPHY GP

MOBVOI

MODERN CHI MED

SMIC

CHINA MOBILE

BYD COMPANY

Hong Kong stocks close | Hang Seng Index falls 2.23%, technology sector under significant pressure, precious metals plummet