Mei Ri Jing Ji Xin Wen·2025-12-29 08:52Market Overview - The Hong Kong stock market experienced a volatile session, with the Hang Seng Index initially rising over 1% before closing down at 25,635.23 points, a decrease of 183.70 points or 0.71% [1] - The Hang Seng Technology Index also saw fluctuations, peaking at over 2% before ending at 5,483.01 points, down 16.29 points or 0.30% [4] Company Performance - Alibaba (HK09988) declined by 1.85%, contributing to the market downturn [3] - Xiaomi Group (HK01810) fell by 1.63% due to the vice chairman's plan to reduce holdings [3] - MGM China (HK02282) experienced a significant drop of over 17% following a Morgan Stanley report indicating an increase in license fees from 1.75% to 3.5% of monthly gross revenue, with projected fees of HKD 1.2 billion for next year compared to HKD 600 million this year [3] Sector Performance - The new energy vehicle sector showed positive movement, with NIO rising nearly 5%, XPeng up over 3%, and Li Auto increasing over 1% [6] - Chinese banks performed well, with Agricultural Bank of China rising over 2%, along with other major banks like China Merchants Bank, China Construction Bank, and Bank of China showing strong performance [6] Investment Outlook - Galaxy Securities anticipates low trading activity in the Hong Kong market due to holiday factors, predicting continued narrow fluctuations [8] - The technology sector is viewed as a long-term investment focus, with potential for rebound after recent adjustments [8] - The consumer sector is expected to receive significant policy support, with current valuations at relatively low levels, indicating potential for medium to long-term growth [8] - Huaxi Securities notes that the market is in a phase of reduced volume and differentiation, suggesting opportunities for selective low-cost acquisitions in undervalued stocks with resilient fundamentals [8]