The Hong Kong stock market's major indices fell in the morning trade, failing to continue the previous day's rally. At midday close, HSI dropped by 0.74% to 16,806, HSTECH fell by 1.22% to 3,499, and HSCEI was down by 0.78% to 5,914.
Major tech stocks opened high but later fell. Tesla Inc. shares dropped overnight, leading to losses in automotive stocks in Hong Kong, especially new energy vehicle makers, lithium battery companies, and car dealerships. Catering, beer, heavy machinery, Apple-related, pork-related, and sports apparel stocks also declined.
On the other hand, gold stocks like Zijin Mining reached record prices due to rising international gold prices. Copper businesses performed well with expectations of improved Q1 results, while semiconductor, power, and home appliance sectors generally saw gains.
Hang Seng Index Fluctuates, Poised for Range-Bound Trading
CMB International notes that after a rebound driven by improved market expectations and returning funds, the HSI regressed from the 17,000 resistance level, stabilizing near 16,500 points. With the earnings season-ending, few surprises are anticipated. As most sector earnings forecasts for the year were revised downward, visibility remains low. The index is expected to fluctuate between 16,000-17,000 points in the short term.
A balanced allocation between value and growth stocks is advised, with a focus on defensive Chinese SOEs (State-owned Enterprises) with attractive valuations and high dividend yields; High-dividend stocks continue to be favored in April broker portfolios according to research from institutions including Essence International, Cinda Securities, and CITIC Securities.
What's on News This Morning:
- CN Mar Caixin Service PMI Hikes to 52.7, Beating Consensus
- Magnitude 7.2 Earthquake Impacts TSMC Operations: Guotai Research
- Xiaomi SU7's First Batch Delivery Ceremony on April 3 (Chinese)
- Huawei's AITO Sees Sales Surge, Li Auto Falls Short of Expectations, Xiaomi Sparks Price Cut Frenzy (Chinese)
- HK Auto Stocks Weaken
- Gold Prices Hit New High Again; Gold Miners Boom as ZIJIN MINING Break Ceiling; LINGBAO GOLD Leaps 7%
- Hong Kong Copper Stocks Rally, Wan Guo International Mining Jumps Over 4% (Chinese)
HSTECH Movements:
Top 10 stocks ranked by price change within the 80% stocks by turnover
| Rank | Symbol | Price | %Chg | Turnover | Capitalization |
|---|---|---|---|---|---|
| No.1 | 09868 XPENG-W |
HK$28.900 | -4.62% | HK$298.075 million | HK$54.590 billion |
| No.2 | 00020 SENSETIME-W |
HK$0.700 | -4.11% | HK$81.747 million | HK$23.428 billion |
| No.3 | 00285 BYD ELECTRONIC |
HK$27.850 | -3.47% | HK$97.339 million | HK$62.752 billion |
| No.4 | 06618 JD HEALTH |
HK$26.800 | -3.42% | HK$72.771 million | HK$85.468 billion |
| No.5 | 02015 LI AUTO-W |
HK$119.600 | -3.31% | HK$504.172 million | HK$253.794 billion |
| No.6 | 01810 XIAOMI-W |
HK$15.780 | -3.07% | HK$2.190 billion | HK$393.703 billion |
| No.7 | 00992 LENOVO GROUP |
HK$8.750 | -2.34% | HK$299.316 million | HK$108.541 billion |
| No.8 | 00241 ALI HEALTH |
HK$3.010 | -1.95% | HK$64.181 million | HK$48.436 billion |
| No.9 | 00981 SMIC |
HK$15.480 | +1.57% | HK$233.115 million | HK$123.046 billion |
| No.10 | 09626 BILIBILI-W |
HK$89.250 | -1.54% | HK$159.843 million | HK$36.814 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 | 01378 CHINAHONGQIAO |
HK$9.200 | +2.79% | HK$462.994 million | HK$87.175 billion |
| No.2 | 01211 BYD COMPANY |
HK$198.500 | -2.02% | HK$869.898 million | HK$577.862 billion |
| No.3 | 02899 ZIJIN MINING |
HK$16.500 | +1.73% | HK$496.053 million | HK$434.379 billion |
| No.4 | 02020 ANTA SPORTS |
HK$87.200 | -1.64% | HK$455.987 million | HK$247.005 billion |
| No.5 | 01299 AIA |
HK$53.050 | -1.39% | HK$1.006 billion | HK$599.127 billion |
| No.6 | 03690 MEITUAN-W |
HK$100.400 | -0.99% | HK$1.365 billion | HK$625.965 billion |
| No.7 | 09999 NTES-S |
HK$150.200 | -0.92% | HK$486.134 million | HK$484.188 billion |
| No.8 | 09988 BABA-SW |
HK$70.800 | -0.28% | HK$1.275 billion | HK$1453.242 billion |
| No.9 | 00857 PETROCHINA |
HK$7.160 | +0.28% | HK$655.445 million | HK$1310.430 billion |
| No.10 | 01398 ICBC |
HK$4.020 | -0.25% | HK$475.862 million | HK$1432.753 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 | 09690 TUHU-W |
HK$17.800 | +10.56% | HK$102.201 million | HK$14.576 billion |
| No.2 | 01563 ALLI INTL ED LE |
HK$0.455 | +9.64% | HK$46.766 million | HK$769.366 million |
| No.3 | 02013 WEIMOB INC |
HK$1.470 | -8.70% | HK$147.292 million | HK$4.108 billion |
| No.4 | 01070 TCL ELECTRONICS |
HK$3.830 | +7.28% | HK$73.206 million | HK$9.604 billion |
| No.5 | 03650 KEEP |
HK$4.840 | +7.08% | HK$82.684 million | HK$2.544 billion |
| No.6 | 06699 ANGELALIGN |
HK$81.600 | +6.32% | HK$57.648 million | HK$13.798 billion |
| No.7 | 00631 SANY INT'L |
HK$4.360 | -6.24% | HK$80.305 million | HK$13.907 billion |
| No.8 | 01818 ZHAOJIN MINING |
HK$11.900 | +5.68% | HK$265.044 million | HK$38.918 billion |
| No.9 | 01208 MMG |
HK$3.420 | +5.56% | HK$174.941 million | HK$29.604 billion |
| No.10 | 09995 REMEGEN |
HK$29.050 | +5.06% | HK$49.583 million | HK$15.813 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 Wednesday 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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