Market Overview
▪ As of noon, the three major indices of the Hong Kong stock market rose together. The Hang Seng Index reported 26,942.74 points at noon, up 1.44%, failing to refresh the recent high, still some distance from the previous high point (January 29, 2026), but overall maintaining a rebound pattern.
▪ The Hang Seng Tech Index closed at 5,400.89 points at noon, with an increase of 1.02%, also not breaking the new high since January 28, but maintaining high-level fluctuations, with a positive market atmosphere.
▪ The China Enterprises Index reported 9,142.14 points, up 1.23% at noon, not reaching a new high, still some distance from the January 29 high point, remaining in a recent strong consolidation range.
Sector Performance
▪ The internet content and information sector showed volatility during the session, with mixed performances among leading stocks in the sector. Tencent Holdings rose 1.10%, with a noon trading volume of HKD 8.004 billion. The sector overall lacked significant positive drivers, with Kuaishou down 4.28% and a trading volume of HKD 3.853 billion, reflecting a structural divergence in short-term capital preferences.
▪ The retail sector generally rose, significantly boosted by innovative news from Alibaba, with noticeable capital inflow into the sector. Alibaba rose 1.94%, with a trading volume of HKD 5.076 billion, driven by news of the new generation model Qwen3.5 being open-sourced, attracting short-term capital. JD.com rose 1.40% at noon, and Miniso rose 2.01%. Overall, the retail sector became one of the main directions for capital inflow.
Macroeconomic Background
▪ Recently, the Hong Kong stock market has been influenced by the release of macroeconomic data and fluctuations in monetary liquidity. Investors are paying attention to key indicators such as retail sales, exports, and PMI, while also monitoring the exchange rate between the Renminbi and the Hong Kong dollar, as well as the trend of capital inflows from the mainland. Macroeconomic dynamics have a direct impact on structural hotspots during the session.
Popular Stocks
▪ Zhitu (2513.HK) rose 17.62%, with a trading volume of HKD 312 million. The sector's capital was active, mainly benefiting from the recent successful listing of chip designer Montage Technology in Hong Kong, with a significant first-day surge boosting the overall valuation of the sector and attracting capital attention to the future prospects of AI and chip companies.
▪ Southern Communications (1617.HK) rose 55.00%, with a trading volume of HKD 49.9945 million. As of noon, there have been no significant company or industry news reports from authoritative media regarding Southern Communications in the past three days, and the unusual movement may be related to short-term capital speculation.
▪ Yangtze Optical Fibre and Cable (6869.HK) rose 13.99%, with a trading volume of HKD 2.222 billion. The company performed well, benefiting from the surge in global fiber optic demand due to AI data center construction, expectations of improved industry prosperity, and continuous media attention in this direction, with major capital concentrated in this high-prosperity hotspot.
▪ Junda Co., Ltd. (2865.HK) rose 13.86%, with a trading volume of HKD 891 million. The company has not seen significant news from mainstream media in the past three days, and the capital movement may reflect an increase in short-term capital attention
▪ Putian Communication Group (1720.HK) rose 29.03%, with a transaction amount of HKD 10.0968 million. Recently, there have been no significant news reports from mainstream media regarding the sector, and the short-term fluctuations are mainly driven by the rotation of hot sectors.
Market Transaction Amount TOP10
▪ Tencent Holdings (00700.HK) latest transaction price HKD 553.50, increase of 1.10%, transaction amount HKD 8.004 billion
▪ Alibaba -W (09988.HK) latest transaction price HKD 158.00, increase of 1.94%, transaction amount HKD 5.076 billion
▪ Kuaishou -W (01024.HK) latest transaction price HKD 68.20, decrease of 4.28%, transaction amount HKD 3.853 billion
▪ Pop Mart (09992.HK) latest transaction price HKD 257.20, increase of 5.76%, transaction amount HKD 2.481 billion
▪ Xiaomi Group -W (01810.HK) latest transaction price HKD 35.16, decrease of 0.06%, transaction amount HKD 2.440 billion
▪ Yangtze Optical Fibre and Cable (06869.HK) latest transaction price HKD 103.50, increase of 13.99%, transaction amount HKD 2.222 billion
▪ Ping An Insurance (02318.HK) latest transaction price HKD 72.45, increase of 4.09%, transaction amount HKD 2.064 billion
▪ Meituan -W (03690.HK) latest transaction price HKD 90.50, decrease of 0.98%, transaction amount HKD 2.007 billion
▪ SMIC (00981.HK) latest transaction price HKD 70.00, increase of 3.55%, transaction amount HKD 1.697 billion
▪ China Mobile (00941.HK) latest transaction price HKD 78.95, decrease of 1.56%, transaction amount HKD 1.636 billion

As of noon, all three major indices of the Hong Kong stock market rose, with the Hang Seng Index up 1.44%, the Hang Seng Tech Index up 1.02%, and the National Enterprises Index up 1.23%, but none broke through recent highs. The retail sector was boosted by Alibaba's innovative news, leading to improved market sentiment, with Alibaba rising 1.94%. The internet content and information sector showed divergence, with Tencent Holdings up 1.10% and Kuaishou down 4.28%. Yangtze Optical Fibre and Cable significantly surged, with an increase of 13.99%, and trading was active as market funds focused on high-growth sectors. Investors are paying attention to macro data, and the overall atmosphere is positive

- Hong Kong stocks exhibited gains, with the Hang Seng Index reaching 26,942.74, up 1.44%, though still shy of its late January high.  
- The technology and retail sectors showed varied performances, with notable movements in Tencent and Alibaba, the latter rising by 1.94% due to positive market sentiment.  
- Macro-economic indicators such as retail sales and exchange rates are influencing trading trends, with increased focus on specific stocks linked to emerging technology sectors.

Market Heartbeat

TENCENT

KUAISHOU-W

BABA-W

MNSO

JD-SW

KNOWLEDGE ATLAS

NANFANG COMM

YOFC

DRINDA

PUTIAN COMM

POP MART

Hong Kong Stock Market Mid-Review | The Hang Seng Index rose 1.44%, the retail sector was active, and Changfei Fiber Optic Cable rose 13.99% to lead the gains