Financial Association December 16 news (Editor Hu Jiarong) Today, the three major indices of Hong Kong stocks continued their recent weakness. By the close, the Hang Seng Index fell by 0.88%, closing at 19,795.49 points; the Technology Index fell by 1.45%, closing at 4,414.70 points; the Hang Seng China Enterprises Index fell by 0.75%, closing at 7,132.69 points.

Note: Recent performance of the Hang Seng Index.

Regarding the recent adjustments, HTSC mentioned in its report that two main factors are at play: first, overseas liquidity may face marginal tightening pressure, and second, the sustained expansion of active foreign capital outflow.

In terms of foreign investment, according to EPFR data, the scale of active foreign capital net outflow expanded again last week, and passive foreign capital turned into a net outflow, which may be related to the decline in risk appetite for foreign capital before Christmas.

Furthermore, the short selling situation in the Hong Kong stock market is at a relatively high level. By the close, the short sell ratios for the Hang Seng Index, Technology Index, and Hang Seng China Enterprises Index were 18.54%, 15.51%, and 18.80%, respectively.

Today's market

From the market performance perspective, most sectors such as Real Estate, Brokerage, and Golden Industrial Concept saw significant declines, while Cryptos stocks defied the trend and strengthened.

Real Estate stocks fell significantly, with LONGFOR GROUP dropping nearly 5%.

Among Real Estate stocks, LONGFOR GROUP (00960.HK), YUEXIU PROPERTY (00123.HK), and AGILE GROUP (03383.HK) fell by 4.87%, 4.86%, and 3.61% respectively.

Note: performance of real estate stocks.

In terms of news, the National Bureau of Statistics released data showing that from January to November, national Real Estate Development investment was 9363.4 billion yuan, a year-on-year decline of 10.4%; among them, Residence investment was 7119 billion yuan, decreasing by 10.5%.

Brokerage stocks mostly weakened, with Guolian dropping nearly 5%.

Among brokerage stocks, Guolian (01456.HK), China Merchants (06099.HK), and Everbright (06178.HK) fell by 4.71%, 3.95%, and 3.89% respectively.

Note: Performance of brokerage stocks

In terms of news, China Great Wall pointed out that the market was affected by fluctuations in the ten-year treasury yield, volatility in expectations of US interest rate cuts, policy statements from economic meetings, and fluctuations in northbound capital, leading to increased market volatility and adjustments in brokerage stocks.

Most Golden Industrial Concept stocks weakened, with ZHAOJIN MINING dropping over 4%.

Among Golden Industrial Concept stocks, ZHAOJIN MINING (01818.HK), CHINAGOLDINTL (02099.HK), and SD GOLD (01787.HK) fell by 4.47%, 3.71%, and 3.10% respectively.

Note: Performance of gold stocks

In terms of news, COMEX gold has continued to decline over the past three days, with a cumulative drop of nearly 3%.

Note: Recent performance of COMEX.

Furthermore, according to the World Gold Council's recent report "2025 Gold Outlook", the gold price has increased by more than 30% since 2024, but next year's increase may be influenced by economic growth and inflation variables.

Bitcoin reached a new historical high in the morning session, while BOYAA rose over 5%.

Among Cryptos concept stocks, BOYAA (00434.HK), LINEKONG (08267.HK), and SINOHOPE TECH (01611.HK) rose by 5.52%, 3.28%, and 2.30% respectively.

Note: Performance of crypto concept stocks.

In terms of news, today Bitcoin prices continued to reach new historical highs in the early session, touching $106,427 at one point during the day. As of the time of writing, it has risen by 1.50%, priced at $104,707.18.

Note: Performance of Bitcoin.

Furthermore, benefiting from the strengthening of Bitcoin, related Cryptocurrency ETFs have seen increases. As of the close, China Asset Bitcoin (03042.HK), Harvest Bitcoin (03439.HK), and Bosera Bitcoin (03008.HK) have risen by 5.09%, 4.74%, and 4.72% respectively.

Note: The performance of cryptocurrency ETFs in the Hong Kong stock market.

Individual stock movements.

[XD INC rises over 12% as Taptap benefits from industry supply expansion]

XD INC (02400.HK) rose by 12.13%, closing at HKD 26.80. SWHY pointed out that in 2024, Taptap's domestic monthly active users are rebounding, driven by the continued increase in supply under a relaxed regulatory environment; self-developed hits are driving platform traffic growth. The logic of Taptap benefiting from industry supply expansion is relatively rare, and considering the trend of license issuance, user scale is expected to continue to rise.

[POP MART once rose over 3% during trading, Institutions believe that demand for innovation in Consumer spending will further increase]

POP MART (09992.HK) rose 2.47%, and at one point during the session increased by over 3%. In terms of news, recently, the Ministry of Commerce and seven other departments jointly issued the 'Implementation Plan for Innovation and Improvement in the Retail Trade Industry'. The 'Plan' proposes to promote digital empowerment, enhance the deep integration of physical retail and the digital economy, create new productive forces, improve efficiency, and make consumption more convenient. It encourages diversified innovation and the integration of business formats, allowing various models such as 'large and strong', 'small and beautiful', 'specialized and refined' and 'one store, multiple functions' to flourish.

Institutions pointed out that next year the market's focus will still be on how and when the government will introduce policies to boost consumption. The organization indicated that while there are still growth opportunities in the domestic market, demand for innovation in the optional consumption industry will further increase.