Hong Kong Market Close | Three major indices fall across the board, tech sector leads declines, while auto and resource stocks remain active against the trend

Market Overview

▪ On April 2, all three major Hong Kong stock indices closed significantly lower today, with market sentiment under notable pressure.

▪ The HSI closed at 25,116.53 points, down 0.70%, failing to break through the previous stage's high. It remains some distance from the recent high set on March 18, showing weak short-term momentum.

▪ The Hang Seng Tech Index closed at 4,679.1 points, plunging 1.63%. It also failed to refresh its stage high and has significantly retreated from its March 18 peak, exhibiting a clear correction trend.

▪ The HSCEI closed at 8,456.92 points, down 0.56%, failing to reach its mid-March high. After consecutive retreats, it sits at a recent low; attention should be paid to whether it can stabilize in the future.

Sector Performance

▪ The tech sector was under overall pressure today, with the Hang Seng Tech Index falling 8.4%. Alibaba closed with a 3.42% decline, Xiaomi Group fell 3.56%, Tencent Holdings dropped 1.49%, and Meituan declined 2.07%. Capital continued to flow out overall, with short-term safe-haven sentiment dominating the sector.

▪ The auto and new energy sectors showed divergent performance. Geely Automobile rose 8.37% against the trend, closing at HK$23.82 with a turnover of HK$4.37 billion, becoming a market highlight. The active trading reflects the focus of major capital on the value of leading companies during industry structural adjustments.

▪ Energy and resource stocks showed mixed performance. CNOOC rose 0.22% with a turnover of HK$4.969 billion. Shandong Molong stood out with a 16.37% gain as capital flowed in heavily, recording a turnover of HK$3.854 billion, indicating strong short-term speculative sentiment in resource stocks.

▪ Precious metals and engineering-related sectors saw localized capital activity. Lik Kee Control Holdings rose 17.58%, with concentrated capital pushing the stock price to a 52-week high, as short-term funds clearly focused on abnormal opportunities in certain thematic sectors.

Macro Background

▪ The decline in the Hong Kong stock market today was affected by changes in the annual rate of imports and exports, with fluctuations in the external environment increasing uncertainty in corporate earnings expectations.

▪ Investors continue to focus on the combined impact of policy trends, the RMB exchange rate, and international capital flows on the short-term volatility of the indices.

Hot Stocks

▪ Zhida Technology (New) (2650.HK) rose 16.75% with a turnover of HK$19.2506 million. The company had no significant recent news, and the rapid rise in stock price was driven by short-term capital rotation.

▪ Hung Sing Chang Resources (1850.HK) rose 18.60% with a turnover of HK$500,300. On April 2, 2026, Finet reported that Hung Sing Chang Resources was among the top ten gainers in the Hong Kong stock market, with a single-day gain reaching 20.93%. The company has not disclosed major fundamental events recently; the rise may be related to market capital flows and sector thematic speculation. Short-term capital speculation is active, and subsequent volatility should be monitored.

▪ Shandong Molong (568.HK) rose 16.37% with a turnover of HK$3.854 billion. Although no major news has been announced, the high turnover indicates a heavy concentration of market capital flowing into resource stocks.

▪ Lik Kee Control Holdings (1690.HK) rose 17.58% with a turnover of HK$285,500. On April 2, 2026, Zhitong Finance reported that the company hit a 52-week high. Significant chasing of short-term thematic capital exists, along with the risk of a retracement.

▪ Wealthking Investments (1140.HK) rose 12.28% with a turnover of HK$4.3653 million. There are no recent events, but market thematic capital is active.

Market Turnover TOP 10

▪ Alibaba-W (9988.HK) latest price HK$118.50, down 3.42%, turnover HK$11.273 billion

▪ Tencent Holdings (700.HK) latest price HK$489.20, down 1.49%, turnover HK$8.324 billion

▪ Xiaomi Group-W (1810.HK) latest price HK$30.88, down 3.56%, turnover HK$8.032 billion

▪ CNOOC (883.HK) latest price HK$27.02, up 0.22%, turnover HK$4.969 billion

▪ Yangtze Optical Fibre and Cable (6869.HK) latest price HK$189.00, up 1.67%, turnover HK$4.792 billion

▪ Geely Automobile (175.HK) latest price HK$23.82, up 8.37%, turnover HK$4.370 billion

▪ Shandong Molong (568.HK) latest price HK$9.24, up 16.37%, turnover HK$3.854 billion

▪ Meituan-W (3690.HK) latest price HK$80.25, down 2.07%, turnover HK$3.763 billion

▪ SMIC (981.HK) latest price HK$51.00, down 3.50%, turnover HK$3.333 billion

▪ POP MART (9992.HK) latest price HK$141.80, down 2.41%, turnover HK$2.998 billion