Market Performance - The Hong Kong stock market showed weak performance on November 17, with the Hang Seng Index closing at 26,384.28 points, down 188.18 points, a decline of 0.71% [1] - The Hang Seng Tech Index closed at 5,756.88 points, down 55.92 points, a decrease of 0.96% [2] New Listings - Zhongwei New Materials (02579.HK) debuted but faced a decline, with an initial offering price of 34 HKD, experiencing a maximum drop of over 5% to a low of 32 HKD before closing at 33.96 HKD, down 0.12% [4][6] Sector Performance - In the technology sector, most stocks declined, with Lenovo dropping over 3%, Baidu down over 2%, and Bilibili and JD.com each falling over 1% [6] - Conversely, defense stocks performed well, with China Shipbuilding Defense rising over 3% [6] - Gold stocks generally fell, with Chifeng Jilong Gold down over 3% and Zijin Mining down over 2% [6] - Innovative pharmaceutical stocks also saw a pullback, with Lianbang Pharmaceutical dropping over 6% [6] Capital Flow - Despite market adjustments, southbound capital continued to buy, with a net purchase of over 8.4 billion HKD in Hong Kong stocks by the end of the trading day [7] Market Outlook - Galaxy Securities suggests that the risk appetite in the Hong Kong market will remain cautious, with a likelihood of continued volatility and faster rotation of market hotspots [9] - The firm also indicates that attention should be given to cyclical stocks benefiting from changes in supply and demand dynamics under the "anti-involution" policy, which may have rebound potential [9] - Jianyin International believes that the valuation repair phase for Hong Kong stocks is nearing completion, with future growth dependent on potential valuation expansion next year [9] - The performance of domestic stocks in Q3 has been mixed, and the market is expected to focus more on standout technology innovations, with the potential for downward pressure if tech earnings fall short of expectations [9]
港股速报｜恒生科技指数跌近1% 新股上市首日破发再添一只