Futu News, March 24, reports that the three major Hong Kong stock indices have slightly declined. $Hang Seng Index (800000.HK)$Down by 0.12%. $Hang Seng TECH Index (800700.HK)$Down by 0.21%. $Hang Seng China Enterprises Index (800100.HK)$Down by 0.02%.
As of the lunch market close, 729 Hong Kong stocks rose, 1,097 fell, and 1,300 remained unchanged.
In terms of sectors, Network Technology stocks showed mixed results, with KUAISHOU-W down 3.20%, MEITUAN-W down 2.98%, Bilibili-W down 1.86%, XIAOMI-W up 1.65%, Baidu Group-SW up 0.82%, JD-SW up 0.61%, TENCENT down 0.59%, and Alibaba-W up 0.54%.
Nonferrous Metals stocks rose, with CMOC Group Limited up 9.59%, JIANGXI COPPER up 5.47%, Zijin Mining Group up 4.86%, Aluminum Corporation Of China up 2.34%, CHINAHONGQIAO up 1.99%, SD GOLD up 1.26%, and ZHAOJIN MINING down 0.53%.
Some Home Appliances stocks rose against the trend, with HISENSE HA up nearly 4%, HAIER SMARTHOME up over 4%, TCL ELECTRONICS up over 9%, and Midea Group Co., Ltd up nearly 3%.
Golden Industrial Concept stocks showed mixed results, with Zijin Mining Group up 4.86%, TONGGUAN GOLD down 3.70%, CHINAGOLDINTL down 3.63%, CHI SILVER GP down 3.45%, LINGBAO GOLD (1,000) up 1.87%, SD GOLD up 1.26%, PERSISTENCE RES down 1.20%, and ZHAOJIN MINING down 0.53%.
Building Materials stocks generally fell, with CONCH CEMENT down 4.03%, CR BLDG MAT TEC down 2.15%, WESTCHINACEMENT down 2.03%, CNBM down 1.95%, ARTGO HOLDINGS down 1.46%, BBMG Corporation down 1.33%, Huaxin Cement down 0.99%, and CHINA LESSO down 0.28%.
Shipping and Ports stocks mostly rose, with COSCO Shipping Holdings up 5.51%, CHINA MER PORT up 2.30%, OOIL up 1.92%, Qingdao Port International up 1.65%, SITC up 1.42%, COSCO SHIP PORT up 0.63%, and PACIFIC BASIN up 0.58%.
Hong Kong Retail Stocks mostly declined, with PRADA down 3.07%, CHOW TAI FOOK down 2.27%, SA SA INT'L up 1.56%, SAMSONITE down 1.25%, LUK FOOK HOLD down 1.19%, and CHOW SANG SANG down 1.14%.
In terms of individual stocks,$TONGCHENGTRAVEL (00780.HK)$Up nearly 3%, the company's core OTA growth and profit improvement continue, and institutions expect AI to support the development of diversified businesses.
$COSCO SHIP HOLD (01919.HK)$After the performance announcement, it rose over 5%, with a nearly 106% year-on-year increase in full-year net profit, and the company's A+H repurchase amount has exceeded 3.5 billion yuan.
$VSTECS (00856.HK)$Up over 16%, last year's net profit increased by 14.1% year-on-year, with significant growth in AI and Cloud Computing business.
$EVEREST MED-B (01952.HK)$ Up nearly 7%, up over 43% since March, the generic tumor vaccine EVM14 has been approved for clinical trials by the U.S. FDA.
$HBM HOLDINGS-B (02142.HK)$ Increased by over 7%, with$AstraZeneca (AZN.US)$reached a Global Strategy partnership, issuing shares at a premium to raise 0.105 billion USD.
Top 10 trading volumes for the half-day.
Editor/danial
Today, after hitting the high near 24,000 in the early session and entering bearish positions, the index fell sharply by nearly over 600 points, immediately recouping yesterday's losses significantly.
Moreover, today it broke the new high again, reaching a maximum of 24,076, but by the end of the market, it fell back by about 70 points, producing a bearish candle. The current trend has not yet been broken, but from the previous low until now, it has risen close to 6,000 points. It is believed that those with positions can continue to hold until there is a clear trend reversal for profit-taking. Those without positions can wait for a pullback to get in. Actually, it is hoped for a quick pullback, as it allows for entry and also provides a healthy breath.
Currently, the outlook remains the same as before. It is believed that even if there is a pullback, it shouldn't be too deep. However, if Futures fail to stabilize and close below 22,350, there may still be room for decline. The chance of Futures falling below 21,400 in the short term should be low, so it is considered that if a significant pullback occurs, it presents a good opportunity to incrementally go long. Recently, there has been a consistent approach to not hold positions overnight, only focusing on immediate trades, as there is no high chasing and no casual short selling.
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