Market Overview
[Hong Kong Stock Market] The three major indices collectively retreated, with the Hang Seng Index leading the decline by over 2%.
As of February 24, 2026, Beijing time, the Hong Kong stock market faced obstacles and fell back, with all three major indices weakening, each recording a decline of over 2%, showing a clear high-level adjustment trend.
▪ The Hang Seng Index fell 2.01% to 26,537.7 points, temporarily distancing itself from the recent peak set yesterday.
▪ The Hang Seng Tech Index saw the largest decline, dropping 2.3% to 5,261.45 points.
▪ The National Enterprises Index also fell, down 2.17% to 8,997.36 points.
Sector Performance
▪ The internet content and information sector overall declined, with AI-related themes causing a broad drop in tech stocks. Tencent Holdings (00700) fell 3.53%, with a trading volume of HKD 13.57 billion, pressured by the AI sector's pullback and market risk aversion; Kuaishou-W (01024) dropped 3.14%, with a trading volume of HKD 1.679 billion, dragged down by significant pullbacks in short drama games and AI applications; Baidu-SW (09888) fell 2.55%, with a trading volume of HKD 708 million, facing a collective market pullback.
▪ The retail sector generally declined due to the sluggish sentiment in tech stocks. Alibaba-W (09988) fell 3.02%, with a trading volume of HKD 8.202 billion, significantly affected by the AI sector's adjustment; Miniso (09896) dropped 3.23%, with a trading volume of HKD 64 million; JD-SW (09618) fell 0.28%, with a trading volume of HKD 685 million, showing relatively better resilience.
▪ The restaurant sector showed significant divergence, with heavyweight stock Meituan-W (03690) plunging 4.59%, with a trading volume of HKD 3.741 billion, impacted by the Hang Seng Tech Index's decline; Haidilao (06862) fell 3.09%, with a trading volume of HKD 267 million; Yum China (09987) rose 1.93% against the trend, with a trading volume of HKD 218 million.
Macroeconomic Background
▪ Recently, the focus of the Hong Kong stock market has been on the resilience of macroeconomic recovery and liquidity expectations. Although some high-frequency macro data has not been updated as of early February 2026, investors are closely monitoring changes in Hong Kong's foreign exchange reserves and the recovery of retail sales data to assess local consumption and capital flows. In the context of global interest rate fluctuations, the market remains highly sensitive to Hibor trends, with short-term strategies leaning towards defensive high-yield stocks and policy beneficiaries.
Popular Stocks
▪ Aide New Energy (02623) rose 30.28%, with a trading volume of HKD 48.3564 million. The company plans to invest approximately RMB 192 million to subscribe for shares of Australian gold producer Horizon Minerals Limited, triggering capital enthusiasm for its overseas resource layout breakthrough
▪ Da Chang Micro Line Group (00567) rose by 37.50%, with a transaction amount of HKD 3.0157 million. The stock price surged strongly in the morning, as the market expects a cyclical recovery in the printed circuit board industry, combined with the demand for capital repair after the stock's significant decline.
▪ Mobi Development (00947) rose by 33.69%, with a transaction amount of HKD 5.5777 million. The market's expectations for the evolution of new technologies such as 5G-A acted as a catalyst, accelerating the rise in the afternoon, with clear signs of capital-driven momentum.
▪ Putian Communication Group (01720) rose by 28.09%, with a transaction amount of HKD 22.9488 million. As a supplier of communication supporting equipment, speculative funds in the market are active, betting on the improvement of expectations for industry infrastructure construction.
▪ Southern Communication (01617) rose by 21.13%, with a transaction amount of HKD 29.4529 million. There was a sharp fluctuation during the trading session, with the market speculating that it was influenced by the overall recovery of the communication sector or capital rotation speculation, indicating a willingness to explore low-priced stocks.
Market Transaction Amount TOP10
▪ Tencent Holdings (00700.HK) latest transaction price HKD 519.50, down 3.44%, transaction amount HKD 13.475 billion
▪ Alibaba -W (09988.HK) latest transaction price HKD 147.70, down 2.96%, transaction amount HKD 8.182 billion
▪ Meituan -W (03690.HK) latest transaction price HKD 81.10, down 4.59%, transaction amount HKD 3.713 billion
▪ Xiaomi Group -W (01810.HK) latest transaction price HKD 35.52, down 2.84%, transaction amount HKD 3.343 billion
▪ Yangtze Optical Fibre and Cable (06869.HK) latest transaction price HKD 129.20, up 1.17%, transaction amount HKD 3.086 billion
▪ SMIC (00981.HK) latest transaction price HKD 69.80, down 1.83%, transaction amount HKD 2.837 billion
▪ Zhiyun (02513.HK) latest transaction price HKD 635.00, up 13.39%, transaction amount HKD 2.772 billion
▪ Ping An Insurance (02318.HK) latest transaction price HKD 69.65, down 4.33%, transaction amount HKD 2.662 billion
▪ Pop Mart (09992.HK) latest transaction price HKD 236.60, down 4.75%, transaction amount HKD 2.446 billion
▪ AIA Group (01299.HK) latest transaction price HKD 84.80, down 0.99%, transaction amount HKD 1.724 billion

00700

01024

09988

On February 24, 2026, Beijing time, the Hong Kong stock market collectively weakened in the afternoon, with all three major indices adjusting high and falling more than 2%. The Hang Seng Tech Index led the decline, dragged down by a pullback in AI themes. Technology stocks generally fell, with major stocks such as Tencent Holdings, Alibaba, and Meituan showing weak performance. Funds shifted towards defensive stocks and individual stock speculation, with Aito rising sharply against the trend due to positive acquisition news. On the macro level, the market is closely monitoring liquidity and the recovery of local consumption data, with investment sentiment leaning towards caution

- The Hong Kong stock market experienced a significant downturn, with major indices falling over 2% led by the Hang Seng Index which dropped 2.01%.  
- Key sectors such as internet and retail reflected negative sentiment, influenced by a retreat in AI stocks, highlighting a broader market adjustment.  
- Notable individual stock movements included significant increases for certain companies while others like Tencent and Alibaba faced declines amid increased market caution.

Market Heartbeat

TENCENT

KUAISHOU-W

BABA-W

JD-SW

BIDU-SW

MNSO

MEITUAN

HAIDILAO

YUM CHINA

ADD NEW ENERGY

DAISHOMICROLINE

MOBI DEV

PUTIAN COMM

NANFANG COMM

Hong Kong stocks intraday | Hang Seng Index fell 2.3%, Meituan dropped 4.59%, Aide New Energy surged 30.28%