Market Overview
As of the time of writing, the three major indices of the Hong Kong stock market have collectively strengthened during the trading session, maintaining a high-level oscillation pattern.
▪ The Hang Seng Index rose 0.99% to 26,641.7 points, approaching the peak of February 25, with strong support from bulls.
▪ The Hang Seng Tech Index increased by 0.88% to 5,154.08 points, still in a strong consolidation range from a technical perspective.
▪ The China Enterprises Index rose 0.69% to 8,874.95 points. Overall, major indices have gently rebounded after digesting recent profit-taking, with market sentiment leaning towards positivity.
Sector Performance
▪ The internet content and information sector generally rose, with buybacks, dividends, and strategic adjustments boosting market sentiment. Leading stock Tencent Holdings increased by 2.44%, with a trading volume of HKD 9.459 billion. The company announced the closure of overseas studios to focus on its strengths, coupled with a significant increase in transaction volume of WeChat mini-programs during the Spring Festival, validating its overseas potential; Alibaba rose 1.19%, with the market optimistic about its &#34;Cloud + AI&#34; strategy leading to valuation reconstruction and continued buying from southbound funds; Baidu rose 0.65%, benefiting from a USD 5 billion buyback plan and growth in monthly active data for its Wenxin assistant.
▪ The retail sector overall strengthened, driven by AI expectations and valuation recovery boosting leading performances. JD.com rose 0.77%, as the company launched the &#34;Billion Supermarket&#34; channel and plans to invest over HKD 20 billion in subsidies to solidify its core competitiveness; Miniso fell 0.66%, despite the company's continuous share buybacks showing management confidence, but the stock price remains volatile in the short term.
▪ The communication equipment sector showed mixed trends, with funds focusing on AI computing power logic. YOFC surged 9.10% to reach a historical high, mainly benefiting from its inclusion in the MSCI China Index and the construction of AI data centers driving fiber optic prices up; Cambridge Technology fell 4.38%, influenced by JP Morgan reducing its holdings by about 630,000 shares, leading to a cautious market sentiment in the short term.
Macroeconomic Background
▪ Recently, the focus of the Hong Kong stock market has been on macroeconomic recovery and improved liquidity conditions. Investors are closely monitoring Hong Kong's retail sales data, unemployment rate, and GDP growth rate to assess local economic resilience.
▪ With adjustments in expectations for the Federal Reserve's monetary policy, changes in foreign exchange reserves and exchange rate stability are also key variables.
▪ The performance of manufacturing PMI data will further reveal economic vitality, with the market expecting more favorable policies to boost confidence. Currently, key indicators of focus include the unemployment rate, CPI, and retail sales.
Popular Stocks
▪ Starry Chain Group (399.HK) rose 33.96%, with a trading volume of HKD 36.0316 million. The company received a notification of suspension from the Stock Exchange and has applied for a review, with regulatory uncertainties causing heightened market attention and speculative trading leading to significant price fluctuations.
▪ Great Wall Microelectronics (8286.HK) surged 187.10%, with a trading volume of HKD 6.2257 million. The shares recorded extreme volatility after resuming trading, with a massive single-day increase, mainly driven by the resumption news and speculative market funds
Market Trading Volume TOP10
▪ Tencent Holdings (00700.HK) latest trading price HKD 523.50, up 2.25%, trading volume HKD 9.433 billion
▪ Alibaba -W (09988.HK) latest trading price HKD 144.70, up 1.19%, trading volume HKD 6.708 billion
▪ YOFC (06869.HK) latest trading price HKD 147.10, up 8.80%, trading volume HKD 3.531 billion
▪ Xiaomi Group -W (01810.HK) latest trading price HKD 34.96, down 0.63%, trading volume HKD 2.377 billion
▪ MINIMAX-WP (00100.HK) latest trading price HKD 735.50, down 6.72%, trading volume HKD 2.121 billion
▪ SenseTime -W (00020.HK) latest trading price HKD 2.54, up 4.10%, trading volume HKD 2.093 billion
▪ Meituan -W (03690.HK) latest trading price HKD 81.70, up 1.55%, trading volume HKD 2.028 billion
▪ HSBC Holdings (00005.HK) latest trading price HKD 147.00, up 1.38%, trading volume HKD 1.885 billion
▪ SMIC (00981.HK) latest trading price HKD 68.05, up 0.67%, trading volume HKD 1.830 billion
▪ Kuaishou -W (01024.HK) latest trading price HKD 63.05, down 0.86%, trading volume HKD 1.817 billion

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As of the time of publication, the three major indices of the Hong Kong stock market are collectively strengthening during the trading session, with the Hang Seng Index approaching its recent high. The internet sector is performing well, with Tencent Holdings leading the way due to strategic adjustments and positive data from the Spring Festival, while Alibaba is rising on expectations for its cloud business. The telecommunications equipment sector is showing divergence, with YOFC reaching a historical high due to demand for AI computing power and inclusion in the MSCI Index. Market sentiment is relatively positive, with funds focusing on macroeconomic recovery and corporate performance

- The Hong Kong stock market shows an overall upward trend with the Hang Seng Index rising by 0.99%, reflecting positive investor sentiment after profit-taking.  
- Major stocks like Tencent and Alibaba experienced gains, driven by strategic adjustments and strong trading performance, particularly in the tech and retail sectors.  
- Macroeconomic factors are under scrutiny, with investors watching retail sales and GDP growth to gauge economic resilience amid evolving Fed monetary policy expectations.

Market Heartbeat

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Hong Kong stock market intraday | The Hang Seng Index rose 0.99%, approaching the recent high, Tencent Holdings rose 2.44%, YOFC surged 9.10%