Hong Kong stock market close | Hang Seng Index fell 0.95%, technology index retreated, retail sector and some leading stocks experienced intraday fluctuations

Market Overview

▪ On April 28, the three major indices of the Hong Kong stock market closed generally lower, with market sentiment under pressure.

▪ The Hang Seng Index closed at 25,679.78 points, down 0.95% for the day;

▪ The Hang Seng Tech Index closed at 4,827.19 points, down 2.28%, showing significant short-term pressure;

▪ The China Enterprises Index closed at 8,644.81 points, down 1.27%, maintaining a high-level consolidation.

Sector Performance

▪ The water and soft drink sector saw Dongpeng Beverage drop 0.59%. The company's naming cooperation with Zhang Xueji has driven short-term brand exposure, but actual offline sales have not shown significant improvement, reflecting limited brand effect and cautious market participation.

▪ The retail sector showed significant volatility, with short-term capital inflows concentrated. Maoji Kuichong rose 39.67%, Jiancheng Holdings rose 30.36%, WKK INTL (HOLD) rose 49.02%, Guangli Technology rose 37.93%, and Haina Intelligent rose 16.93%. The sector has a strong atmosphere of capital speculation, with multiple constituent stocks recording significant surges and active trading, leading to increased market attention.

Macroeconomic Background

▪ Recently, the Hong Kong stock market has been active, with investors focusing on changes in external liquidity and the impact of local economic data on blue-chip performance.

▪ Fluctuations in the RMB exchange rate and capital flows have become key influencing factors, driving short-term capital attention towards technology and financial stocks.

▪ The overall market continues to experience high-level fluctuations, with clear signs of a shift in capital style. It is expected that technology and financial heavyweight stocks will continue to be affected by volatility in the short term.

Popular Stocks

▪ Maoji Kuichong (1716.HK) rose 39.67%, with a transaction volume of HKD 794 million. On April 28, 2026, it surged 33.80% during the session, with active capital inflow making it a market focus. The market volatility was mainly due to concentrated short-term capital inflows, driving a strong rebound in stock prices, and boosting short-term market confidence and company valuation expectations.

▪ Jiancheng Holdings (1630.HK) rose 30.36%, with a transaction volume of HKD 142 million. On April 28, 2026, it surged 21.43% during the session, with clear sector rotation and short-term capital speculation, significantly increasing trading activity. Concentrated capital intervention helps to raise market attention, but attention should be paid to short-term stock volatility risks.

▪ WKK INTL (HOLD) (532.HK) rose 49.02%, with a transaction volume of HKD 78 million. On April 28, 2026, it surged 23.53% during the session, attracting market capital attention, with short-term capital inflows driving significant stock price fluctuations, and related industry stocks also benefiting, showing a clear preference in sentiment.

▪ Haina Intelligent (1645.HK) rose 16.93%, with a transaction volume of HKD 157 million.

▪ Changying Group (Holding) (689.HK) rose 19.02%, with a transaction volume of HKD 138 million. On April 28, 2026, it rose 20.49% during the session, mainly due to active capital inflows, with sector catalysts boosting market sentiment for companies and related sectors, increasing short-term trading opportunities Market Trading Volume TOP10

▪ Tencent Holdings (700.HK) Latest trading price HKD 473.80, down 1.00%, trading volume HKD 12.262 billion

▪ Contemporary Amperex Technology Co., Limited (3750.HK) Latest trading price HKD 629.00, down 6.88%, trading volume HKD 0.932 billion

▪ Alibaba -W (9988.HK) Latest trading price HKD 126.50, down 2.84%, trading volume HKD 0.931 billion

▪ Xiaomi Group -W (1810.HK) Latest trading price HKD 29.92, down 3.79%, trading volume HKD 0.641 billion

▪ Semiconductor Manufacturing International Corporation (981.HK) Latest trading price HKD 66.05, down 3.22%, trading volume HKD 0.639 billion

▪ Hua Hong Semiconductor (1347.HK) Latest trading price HKD 113.30, down 1.13%, trading volume HKD 0.414 billion

▪ Cambridge Technology (6166.HK) Latest trading price HKD 111.20, down 16.45%, trading volume HKD 0.348 billion

▪ China National Offshore Oil Corporation (883.HK) Latest trading price HKD 28.98, up 1.90%, trading volume HKD 0.309 billion

▪ WuXi AppTec (2359.HK) Latest trading price HKD 143.10, up 13.57%, trading volume HKD 0.302 billion

▪ China Life Insurance (2628.HK) Latest trading price HKD 26.06, down 2.54%, trading volume HKD 0.285 billion