Hong Kong stock market intraday | The Hang Seng Index rose slightly by 0.43%, thematic stocks surged across the board, and Guotai Junan International soared over 31%

Market Overview

▪ As of now, the three major indices of the Hong Kong stock market are collectively maintaining an upward trend, with market sentiment remaining stable;

▪ Hang Seng Index reported 25,864.12 points, up 0.43%. Although it has retreated from the earlier high, overall resilience remains strong;

▪ Hang Seng Tech Index reported 4,857.92 points, with an increase of 0.75%. Although the rise has halved, it still outperformed the market;

▪ China Enterprises Index reported 8,645.84 points, up 0.39%, with the index's short-term upward trend maintained amidst fluctuations.

Sector Performance

▪ The communication equipment sector experienced significant volatility during the session, influenced by short-term speculative trading. The representative stock, Longbridge, saw a decline, with a drop of up to 7.99% and a transaction volume of HKD 831 million. The shift in funds towards small-cap tech and thematic stocks led to increased sector volatility, with active trading but fluctuating sentiment.

▪ The internet content sector showed overall weak fluctuations, with AI and commercialization expectations dominating market sentiment. KUAISHOU-W rose 0.44% during the session, with a transaction volume of HKD 1.594 billion, while its subsequent performance remains affected by platform commercialization adjustments and monetization efficiency; TENCENT, favored by institutions, fell 1.18% during the session, with a transaction volume reaching HKD 7.7 billion, as AI investments became a market focus.

▪ The technology and new energy thematic sectors saw active rotation during the session, particularly lithium batteries, digital assets, and some AI innovation concept companies attracting phase-specific capital inflows. CHAOWEI POWER rose 20.53%, with a transaction volume of HKD 337 million, while the digital asset-themed GUOTAI JUNAN I rose 31.40%, with a transaction volume of HKD 4.797 billion, as funds pursued thematic elasticity in the short term.

▪ Leading stocks showed differentiated performance, with stable blue chips like Alibaba rising 2.60% during the session, with a transaction volume of HKD 774 million, while some tech blue chips like Baidu fell by 1.19%, with a transaction volume of HKD 974 million, as funds rapidly rotated between different sectors.

Macroeconomic Background

▪ Recently, the Hong Kong stock market has been significantly influenced by import and export data, with the pace of economic recovery and changes in external demand becoming the focus of market attention. Investors continue to monitor policy trends, macroeconomic data, and fluctuations in the RMB exchange rate.

▪ Economic data and policy signals have a dominant impact on market liquidity and sector rotation, with investors cautiously assessing structural opportunities. The preference for funds has shifted in phases, leading to significant movements in popular sectors and individual stocks.

Popular Stocks

▪ GUOTAI JUNAN I (1788.HK) rose 31.40% during the session, with a transaction volume of HKD 4.797 billion. The stock surged due to news of Hong Kong's upcoming issuance of the first batch of stablecoin licenses, leading to a significant rise in digital asset and stablecoin-related concept stocks. The implementation of stablecoin regulatory policies is expected to further enhance demand for the company's securities, fintech, and digital-related businesses, boosting capital activity.

▪ DEEPEXI TECH (1384.HK) rose 43.10% during the session, with a transaction volume of HKD 2.137 billion. The company has no recent major news, but the pursuit of thematic elasticity by funds has driven a strong surge in its stock price, resulting in active market trading ▪ CHAOWEI POWER (951.HK) rose 20.53% during the session, with a trading volume of HKD 337 million. The lithium battery and new energy concepts have attracted renewed capital attention, with industry prosperity driving the sector's strength. Under the resonance of policy and demand recovery expectations, lithium companies generally surged, showing significant sector rotation characteristics.

▪ GIGADEVICE (3986.HK) rose 13.71% during the session, with a trading volume of HKD 1.2 billion. The company's stock price is favored by market funds and is considered an active target in technology and thematic stocks.

▪ YOUZAN (8083.HK) rose 15.67% during the session, with a trading volume of HKD 145 million. The company has no recent news and is mainly driven by short-term market funds.

Market Trading Volume TOP10

▪ YOFC (6869.HK) latest trading price HKD 221.20, down 7.99%, trading volume HKD 831 million

▪ Alibaba-W (9988.HK) latest trading price HKD 126.10, up 2.60%, trading volume HKD 774 million

▪ TENCENT (700.HK) latest trading price HKD 502.50, down 1.18%, trading volume HKD 770 million

▪ SMIC (981.HK) latest trading price HKD 58.95, up 5.83%, trading volume HKD 498 million

▪ GUOTAI JUNAN I (1788.HK) latest trading price HKD 3.19, up 31.82%, trading volume HKD 480 million

▪ XIAOMI-W (1810.HK) latest trading price HKD 31.00, down 1.15%, trading volume HKD 385 million

▪ Pop Mart (9992.HK) latest trading price HKD 151.60, down 0.72%, trading volume HKD 265 million

▪ Meituan-W (3690.HK) latest trading price HKD 87.75, down 0.28%, trading volume HKD 224 million

▪ DEEPEXI TECH (1384.HK) latest trading price HKD 42.54, up 41.89%, trading volume HKD 214 million

▪ XUNCE (3317.HK) latest trading price HKD 303.80, up 5.49%, trading volume HKD 213 million