Riding the wave of optimism over cooling inflation, Hong Kong’s key indices made impressive gains at the market open today. At midday close, HSI climbed by 2.36% to 16,931, HSTECH rose by 2.37% to 3,559, and HSCEI rose by 2.62% to 5,962.
In a notable breakthrough, Xiaomi Group’s ($XIAOMI-W 01810.HK$) stock price escalated by almost 15% in response to its latest product, the SU7 electric vehicle, signalling vibrant growth in the technology sector. Other tech giants like Meituan ($MEITUAN-W 03690.HK$) and Baidu ($BIDU-SW 09888.HK$) also experienced robust growth, although not all in the sector shared the same fate, with XPeng ($XPENG-W 09868.HK$) and NetEase ($NTES-S 09999.HK$) facing some headwinds.
Recent reports from the United States reflecting a cooldown in core PCE inflation to 2.8% yearly—a low not seen since March 2021—inspired confidence in the markets. The monthly rise of 0.3% falls below earlier predictions, suggesting a potential shift in economic heat that investors are monitoring closely.
Analyzing the valuation metrics, as per Tianfeng Securities, the HSI currently presents a tantalising proposition for value-seekers. It’s trading well below its typical historical range—indicating a potentially underrated market ripe with opportunity, especially in the domains of internet platforms and emergent consumer brands, coupled with the stability offered by high-dividend stocks.
Top news from morning session:
- The energy sector is bullish in Hong Kong; PetroChina surges amid global oil price rise due to supply constraints
- Xiaomi's SU7 electric vehicle boosts stocks by 15% before market opening, challenging established automakers with competitive pricing.
- Mixed auto sector results; BYD sees a 13% sales increase, while others vary, with Geely and Li Auto reporting jumps.
- Brilliance China considers special dividend, propelling shares to a near six-year peak after strong profit reports.
- Gold prices reach an all-time high on the Hong Kong exchange as investors flock to haven amidst uncertainty.
- Bitcoin falls below US$67,000, highlighting volatility in the cryptocurrency market and investor concerns.
HSTECH Movements:
Top 10 stocks ranked by price change within the 80% stocks by turnover
| Rank | Symbol | Price | %Chg | Turnover | Capitalization |
|---|---|---|---|---|---|
| No.1 | 01810 XIAOMI-W |
HK$16.740 | +12.05% | HK$6.568 billion | HK$417.649 billion |
| No.2 | 09961 TRIP.COM-S |
HK$377.400 | +9.33% | HK$803.801 million | HK$243.826 billion |
| No.3 | 09999 NTES-S |
HK$151.300 | -7.06% | HK$948.725 million | HK$487.734 billion |
| No.4 | 09868 XPENG-W |
HK$30.200 | -5.92% | HK$744.389 million | HK$57.045 billion |
| No.5 | 00020 SENSETIME-W |
HK$0.740 | +4.23% | HK$174.914 million | HK$24.767 billion |
| No.6 | 03690 MEITUAN-W |
HK$100.700 | +4.03% | HK$2.771 billion | HK$627.835 billion |
| No.7 | 06690 HAIER SMARTHOME |
HK$25.200 | +3.49% | HK$314.580 million | HK$237.840 billion |
| No.8 | 06618 JD HEALTH |
HK$28.550 | +3.07% | HK$89.898 million | HK$91.049 billion |
| No.9 | 01024 KUAISHOU-W |
HK$50.500 | +2.96% | HK$711.502 million | HK$219.722 billion |
| No.10 | 09888 BIDU-SW |
HK$105.200 | +2.43% | HK$393.107 million | HK$294.201 billion |
HSI & HSCEI Movements:
Top 10 stocks ranked by price change within the 20% stocks by turnover
| Rank | Symbol | Price | %Chg | Turnover | Capitalization |
|---|---|---|---|---|---|
| No.1 | 00857 PETROCHINA |
HK$7.110 | +6.28% | HK$1.032 billion | HK$1301.279 billion |
| No.2 | 02020 ANTA SPORTS |
HK$88.100 | +5.89% | HK$1.037 billion | HK$249.554 billion |
| No.3 | 00883 CNOOC |
HK$18.920 | +4.42% | HK$1.440 billion | HK$899.963 billion |
| No.4 | 00939 CCB |
HK$4.850 | +2.75% | HK$1.394 billion | HK$1212.553 billion |
| No.5 | 00388 HKEX |
HK$234.000 | +2.72% | HK$1.476 billion | HK$296.674 billion |
| No.6 | 02318 PING AN |
HK$33.950 | +2.72% | HK$737.713 million | HK$618.237 billion |
| No.7 | 01398 ICBC |
HK$4.040 | +2.54% | HK$762.919 million | HK$1439.881 billion |
| No.8 | 01299 AIA |
HK$53.650 | +2.09% | HK$2.446 billion | HK$605.904 billion |
| No.9 | 00700 TENCENT |
HK$309.800 | +1.97% | HK$5.121 billion | HK$2931.306 billion |
| No.10 | 03988 BANK OF CHINA |
HK$3.280 | +1.55% | HK$722.987 million | HK$965.592 billion |
HSMI & HSSI Movements:
Top 10 stocks ranked by price change within the 20% stocks by turnover
| Rank | Symbol | Price | %Chg | Turnover | Capitalization |
|---|---|---|---|---|---|
| No.1 | 01114 BRILLIANCE CHI |
HK$7.050 | +30.56% | HK$675.060 million | HK$35.569 billion |
| No.2 | 01070 TCL ELECTRONICS |
HK$3.410 | +20.49% | HK$103.942 million | HK$8.551 billion |
| No.3 | 00467 UNITEDENERGY GP |
HK$0.450 | -19.64% | HK$288.495 million | HK$11.718 billion |
| No.4 | 03323 CNBM |
HK$3.010 | +11.90% | HK$171.856 million | HK$25.389 billion |
| No.5 | 00819 TIANNENG POWER |
HK$6.480 | -11.60% | HK$76.082 million | HK$7.297 billion |
| No.6 | 02400 XD INC |
HK$14.080 | -11.45% | HK$126.370 million | HK$6.765 billion |
| No.7 | 02202 CHINA VANKE |
HK$4.800 | -11.44% | HK$503.356 million | HK$57.267 billion |
| No.8 | 02333 GWMOTOR |
HK$9.670 | +11.15% | HK$295.062 million | HK$82.618 billion |
| No.9 | 06600 SCICLONE PHARMA |
HK$17.800 | +10.97% | HK$579.988 million | HK$11.166 billion |
| No.10 | 00853 MICROPORT |
HK$5.890 | -10.35% | HK$209.097 million | HK$10.805 billion |
The Biggest Moves:
Top 10 stocks ranked by price change within the 20% stocks by turnover
Here are stocks making the biggest moves on Tuesday at midday close:
Top 10 Gainers
Top 10 Losers
Editor's note: This content was generated by M+ Global's in-house AI-enabled SaaS tool and was reviewed by our editing team.
Disclaimer:
The content is provided as general information only and should not be taken as investment advice. All the contents shall not be taken as a recommendation to buy or sell any security or financial instruments. Any action you take resulting from information, analysis, or commentary on this article is your responsibility. Please consult your investment advisor before making any investments.
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