Ge Long Hui·2026-01-15 08:39Market Overview - The Hong Kong stock market indices collectively declined, ending a four-day rising streak, with the Hang Seng Index closing at 26,923 points [1] - The Hang Seng Technology Index fell by 1.35%, while the Hang Seng Index and the China Enterprises Index dropped by 0.28% and 0.52%, respectively [2] Sector Performance - AI-related stocks experienced a collective downturn, particularly in the AI healthcare sector, with Alibaba Health dropping nearly 8% [2] - Major technology stocks mostly declined, with Ctrip falling over 19% due to an investigation, impacting the tourism sector [4] - Semiconductor stocks saw gains, with TSMC reporting a 35% increase in net profit for Q4, leading to a rise in Hong Kong semiconductor stocks, including a nearly 2% increase in SMIC [2][4] Real Estate Sector - Real estate stocks rebounded, with Vanke Enterprises rising over 6%, and other developers like R&F Properties and China Evergrande also seeing significant gains [5][7] - Regulatory updates indicated that projects on the financing coordination mechanism "white list" could extend loans under certain conditions [6] Semiconductor Sector - Huahong Semiconductor announced plans to acquire approximately 97.5% of Huali Micro for 8.268 billion yuan, which is expected to enhance its market share and production capabilities [8] - The semiconductor sector continued its upward trend, with stocks like Huahong Semiconductor and Tianyu Semiconductor rising significantly [9] Lithium Battery Sector - Lithium stocks surged, with Ganfeng Lithium increasing over 7% and Tianqi Lithium and Contemporary Amperex Technology also showing strong performance [11] - Deutsche Bank noted that the lithium market is entering a rational cycle, driven by AI and data center demand, moving away from previous irrational volatility [10] AI Healthcare Sector - AI healthcare stocks faced a significant pullback after a period of gains, with companies like Jingtai Holdings and Alibaba Health experiencing declines of over 10% and 7%, respectively [12][13] Education Sector - The education sector saw declines, with companies like Australia Peak Education and Excellence Education Group dropping over 6% and 3%, respectively [14] Cryptocurrency Sector - Cryptocurrency-related stocks fell, with Huajian Medical dropping over 12.8% and other companies like Jinyong Investment and Yunfeng Financial also experiencing declines [15] Capital Flow - Southbound funds sold a net of 1.515 billion HKD, with net buying of 1.93 billion HKD through the Shanghai-Hong Kong Stock Connect and net selling of 3.446 billion HKD through the Shenzhen-Hong Kong Stock Connect [17] Future Outlook - The brokerage sector is viewed positively, with expectations for continued growth in wealth management, investment banking, and institutional business amid ongoing market adjustments [17]