Group 1 - The Hong Kong stock market experienced a decline today, with the Hang Seng Index closing at 26,844.96 points, down 78.66 points or 0.29%. The total trading volume was 255.1 billion HKD, continuing to shrink compared to the previous day [1] - The technology index closed at 5,822.18 points, down 6.17 points or 0.11% [4] - The stock of Pop Mart (HK09992), a leader in the new consumption sector, fell over 5%, reaching a recent low. The stock price has nearly halved from its historical high of 339.8 HKD on August 26 last year, down 48% as of today's close [3] Group 2 - Morgan Stanley reported that Pop Mart is transitioning from a phase of explosive growth over the past two years to a phase of sustainable growth. The firm predicts that the revenue growth rate for Labubu will significantly slow down by 2026, with the growth engine shifting from a single hit product to a diversified approach driven by non-Labubu IP [6] - The market saw mixed performance among tech stocks, with Kuaishou down over 1%, Xiaomi down over 2%, and Alibaba up nearly 1%. Semiconductor stocks performed well, with Hua Hong Semiconductor up over 7% and SMIC up over 2%. The commercial aerospace concept saw a rebound, with Asia Pacific Satellite up over 2%, while power equipment stocks led the gains, with Dongfang Electric up nearly 5%. Chinese brokerage stocks generally declined, with China International Capital Corporation down over 2% [6] - Morgan Stanley maintains a cautiously optimistic view on Chinese stocks over the next 6 to 12 months, citing substantial liquidity support rather than speculative momentum. Citigroup believes the outlook for Hong Kong stocks is better than that for A-shares, predicting an optimistic market in 2026, supported by both southbound and foreign capital [8]
港股复盘 | 大跌创近期新低 不到半年股价已几乎“腰斩”
Mei Ri Jing Ji Xin Wen·2026-01-16 09:29