Hong Kong Stock Market | The Hang Seng Index rises nearly 1.7%, with technology and semiconductors leading the gains; SMIC rises 5.6%, Alibaba increases by 3.3%

Market Heartbeat
2025.11.06 06:36

The three major indices of the Hong Kong stock market rose across the board during the session, with the technology and semiconductor sectors performing prominently. SMIC and Hua Hong Semiconductor surged, boosting the atmosphere for technology stocks, while Alibaba led the internet retail sector's strength. The net inflow of southbound funds drove active trading, and the market's risk appetite showed a clear recovery. The macro environment and capital trends have become the main line for current Hong Kong stock allocation

Current Situation of the Three Major Indices

  • Hang Seng Index (HSI): Up 1.77%
  • Hang Seng China Enterprises Index (HSCEI): Up 1.74%
  • Hang Seng Tech Index (HSTECH): Up 2.06%

Individual stock performance: 1,047 stocks up, 786 stocks down, 887 stocks flat.

Sector Performance

Retail Sector

The retail sector is overall rising, driven by consumer recovery boosting market demand, with significant increase in trading volume and southbound funds favoring leading platforms. Funds are focusing on leading enterprises, paying attention to the continuous recovery of consumption scenarios and optimization of e-commerce strategies.

  • Alibaba (9988.HK): Up 3.28%, trading volume HKD 9.519 billion. The recovery of the consumer market boosts the performance of Alibaba's various business segments, with Double Eleven expectations driving sentiment recovery and a large inflow of southbound funds supporting a temporary rise in stock prices.
  • JD.com (9618.HK): Up 2.44%, trading volume HKD 569 million. The platform's self-operated business is recovering growth, with rising user demand driving a rebound in transaction volume, and funds continuously positioning in the consumer technology sector.
  • Miniso (9896.HK): Down 2.33%, trading volume HKD 99 million. Increased competition in the industry affects short-term performance, quarterly financial reports did not exceed expectations, and some funds adjusted their positions, impacting volatility in Taiwan-funded stocks.

Semiconductor Manufacturers Sector

The semiconductor sector leads significantly, driven by technological innovation and the continuous release of downstream demand, with notable inflow of funds into the sector. The global chip industry's recovery drives significant accumulation of southbound funds.

  • SMIC (981.HK): Up 5.58%, trading volume HKD 6.427 billion. Benefiting from domestic substitution and breakthroughs in advanced processes, fourth-quarter performance expectations have improved, with large funds pouring in to boost stock prices.
  • Hua Hong Semiconductor (1347.HK): Up 5.58%, trading volume HKD 3.382 billion. Industry order demand is recovering, with favorable policies for the integrated circuit industry chain, and continuous inflow of market leaders driving valuation recovery.
  • Innovent Biologics (2577.HK): Up 4.72%, trading volume HKD 232 million. Significant expansion of downstream power and new energy customers, positive financial report guidance, and funds focusing on new materials and domestic substitution sectors.

Internet Content and Information Sector

The internet content and information industry is overall rising, with increased enthusiasm for the digital economy, and platform advertising, e-commerce, and innovative businesses bringing momentum to the sector. Southbound funds continue to deploy in leading internet enterprises.

  • Tencent Holdings (700.HK): Up 2.07%, trading volume HKD 5.774 billion. Game and advertising businesses recover to achieve better-than-expected growth, with ecological synergy and new AI technologies enhancing competitiveness, and major banks raising target prices stimulating fund injections.
  • Baidu (9888.HK): Up 1.15%, trading volume HKD 1.014 billion. AI cloud business continues to break through, with progress in the commercialization of intelligent driving, and sector themes driving market attention
  • Kuaishou (1024.HK): Up 1.62%, turnover of HKD 865 million. E-commerce GMV growth rate remains high, social content ecosystem strengthens user stickiness, and intelligent recommendations drive user engagement expansion.

Market Focus

1. Core Macro and Industry Focus: In the past month, the Federal Reserve has continuously cut interest rates, the US dollar index has corrected, and the RMB exchange rate has fluctuated and appreciated, continuously improving the external liquidity environment for Hong Kong stocks. Domestic CPI and PMI data for October both improved month-on-month, boosting market confidence in China's economic recovery and enhancing the fundamental support for Hong Kong stocks.

2. Capital Flow: As of midday, southbound funds had a net inflow of over HKD 20 billion in a single day, driving the average daily turnover of Hong Kong stocks to a nearly three-year high of HKD 357.2 billion. Technology leaders, semiconductor, and internet sectors have become key areas for capital accumulation, with some stocks such as Alibaba and SMIC seeing net inflows exceeding HKD 5 billion in a single day, accelerating sector rotation.

Top Ten Stocks by Turnover

  1. Alibaba (9988.HK), trading price HKD 163.70, increase of 3.28%, turnover HKD 9.513 billion
  2. SMIC (981.HK), trading price HKD 75.65, increase of 5.51%, turnover HKD 6.425 billion
  3. Tencent Holdings (700.HK), trading price HKD 642.00, increase of 2.07%, turnover HKD 5.773 billion
  4. Xiaomi Group (1810.HK), trading price HKD 43.20, decrease of 0.28%, turnover HKD 3.701 billion
  5. XPeng (9868.HK), trading price HKD 89.75, increase of 2.34%, turnover HKD 3.504 billion
  6. Hua Hong Semiconductor (1347.HK), trading price HKD 77.50, increase of 5.51%, turnover HKD 3.381 billion
  7. Meituan (3690.HK), trading price HKD 102.80, increase of 1.58%, turnover HKD 3.040 billion
  8. Pop Mart (9992.HK), trading price HKD 215.60, decrease of 0.83%, turnover HKD 2.627 billion
  9. Ping An Insurance (2318.HK), trading price HKD 57.95, increase of 3.02%, turnover HKD 2.279 billion
  10. BYD Company (1211.HK), trading price HKD 96.80, increase of 1.47%, turnover HKD 2.134 billion
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