All three major indices of Hong Kong stocks collectively fell, and market sentiment continued to be weak. As of midday, the Hang Seng Index and the State-owned Enterprise Index fell by 0.57% and 0.37% respectively, and the Hang Seng TECH Index decreased by 1%.
On the market, large Technology stocks collectively declined, with Xiaomi and Kuaishou falling over 2%, Alibaba and Meituan dropping nearly 2%, and Tencent, JD.com, and NetEase all falling. According to the Statistics Bureau, nationwide Real Estate Development investment in the first 11 months decreased by 10.4% year-on-year, leading to a general decline in Mainland Real Estate stocks. The previously rising Aviation stocks saw notable decreases, with Air China Limited falling nearly 7%. China-Affiliated Brokerage stocks, Semiconductors, Golden Industrial Concept stocks, and Dining stocks all showed weak performance.
On the other hand, Bitcoin reached a new high, and the Cryptos Concept stocks rose collectively. Paper companies started a new wave of price increases, and Pulp and Paper stocks were actively traded. The majority of Telecommunication stocks, Petroleum stocks, and Electric Power stocks rose, with the three major Operators collectively performing strongly.