Hong Kong stocks close | Three major indices diverge, consumer electronics rebound, POP MART surges nearly 6%

Current Situation of the Three Major Indices

Hang Seng Index ( HSI.HK ): Down 0.09%

Hang Seng China Enterprises Index ( HSCEI.HK ): Up 0.09%

Hang Seng Tech Index ( HSTECH.HK ): Down 1.18%

A total of 1,124 stocks rose, 1,081 stocks fell, and 987 stocks closed flat.

Hardware, Storage, and Peripheral Sector

The sector saw a slight increase overall, with funds actively flowing in driven by AI and hardware upgrade demands, leading to an increase in corporate orders and short-term profit improvements.

Xiaomi Group-W ( 1810.HK ): Down -3.61%, turnover of HKD 11.92 billion. The release of new AI smart hardware boosts long-term expectations, but short-term profit-taking affects the stock price. The overall recovery in industry demand supports performance, and the company's long-term growth logic remains a focus.

SMIC ( 0981.HK ): Down -2.76%, turnover of HKD 6.646 billion. The recovery in semiconductor manufacturing demand drives order growth, but is affected by short-term cyclical disturbances. Domestic substitution and technological breakthroughs are expected to drive long-term performance.

Huahong Semiconductor ( 1347.HK ): Up +0.74%, turnover of HKD 4.622 billion. The demand for advanced processes expands, and the company's cost control effects are evident. Improved R&D capabilities continue to increase its market share, and growth elasticity is favored by funds.

Retail and Consumer Sector

The sector benefits from consumption recovery, with differentiated performances among leading brands, and market funds are allocated around structural opportunities.

POP MART ( 9992.HK ): Up +5.58%, turnover of HKD 6.816 billion. Hot sales of new products drive sales growth, and the expansion of brand IP and diversified channel layout show results. Accelerated overseas expansion and better-than-expected performance boost confidence.

China Life ( 2628.HK ): Up +4.83%, turnover of HKD 3.512 billion. Premium income continues to rise, and product structure adjustments promote profit improvement. The expansion of health insurance and pension business becomes a new growth point, with defensive attributes and dividend potential favored by funds.

Energy and Precious Metals Sector

The demand for gold as a safe haven has driven the activity of related stocks, with resource growth attributes attracting capital attention.

Zijin Mining International ( 2899.HK ): Increase of +3.80%, turnover of HKD 4.010 billion. The risk-averse sentiment has pushed up gold prices, and the company's performance has significantly improved. The expansion of resource reserves lays the foundation for future revenue growth, and active trading attracts incremental allocation.

Internet Content and Information Sector

The sector has overall corrected, with leading companies showing performance pressure and significant net capital outflow.

Alibaba -W ( 9988.HK ): Decrease of -0.25%, turnover of HKD 11.792 billion. The main business of e-commerce is steadily growing, but increased investment in new businesses has put pressure on profits. Gross profit margin remains stable with a slight increase, and the market is focused on efficiency improvements, cost reductions, and macroeconomic recovery supporting valuations.

Tencent Holdings ( 0700.HK ): Decrease of -1.12%, turnover of HKD 8.879 billion. The advertising business continues to recover, while the gaming sector shows seasonal weakness. The company is increasing investment in AI and innovation fields, which affects profit growth in the short term.

Meituan -W ( 3690.HK ): Decrease of -1.15%, turnover of HKD 3.263 billion. The expansion momentum of in-store business is strong, but losses from new businesses drag down overall profitability. The platform ecosystem is stable, and the long-term growth logic is recognized by capital.

Market Focus

The Federal Reserve's monetary policy and global inflation changes continue to dominate market fluctuations, with investors maintaining a high level of attention on interest rate paths.

Multiple macroeconomic data from China show signs of stabilization, and the enhanced recovery expectations for the fourth quarter bring momentum to defensive and growth sectors.

Demand in technology industries such as AI and semiconductors is warming up, and gold performs prominently due to safe-haven demand. Structural capital flows in the market are intensifying, necessitating close attention to external uncertainties and individual company performance risks.

Top Ten Stocks by Turnover

Xiaomi Group -W ( 1810.HK ), closing price HKD 47.70, down 3.60%, turnover HKD 11.920 billion

Alibaba -W ( 9988.HK ), closing price HKD 161.20, down 0.25%, turnover HKD 11.790 billion

Tencent Holdings ( 700.HK ), closing price HKD 620.00, down 1.12%, turnover HKD 8.880 billionPOP MART ( 9992.HK ), closing price HKD 288.20, up 5.57%, turnover HKD 6.82 billion

SMIC ( 981.HK ), closing price HKD 73.90, down 2.76%, turnover HKD 6.65 billion

Huahong Semiconductor ( 1347.HK ), closing price HKD 81.45, up 0.74%, turnover HKD 4.62 billion

Zijin Mining International ( 2259.HK ), closing price HKD 147.40, up 3.80%, turnover HKD 4.01 billion

China Life ( 2628.HK ), closing price HKD 24.36, up 4.82%, turnover HKD 3.51 billion

Giant Biogene ( 2367.HK ), closing price HKD 41.82, down 15.31%, turnover HKD 3.32 billion

Meituan-W ( 3690.HK ), closing price HKD 98.75, down 1.15%, turnover HKD 3.26 billion