Mei Ri Jing Ji Xin Wen·2026-02-24 09:05Market Overview - The Hong Kong stock market experienced a decline across all major indices, with the Hang Seng Index falling by 1.82%, the Hang Seng Tech Index down by 2.13%, and the National Enterprises Index decreasing by 2.06% [1] - Major internet technology stocks also saw significant drops, including Tencent Holdings down nearly 3.3%, Alibaba down 2.7%, and Kingsoft Cloud down 5% [1] Stock Performance - Tencent Holdings closed at 188.29 billion, down 3.346% [2] - Xiaomi Group fell by 2.243%, closing at 51.03 billion [2] - Alibaba's stock decreased by 2.760%, ending at 148.00 billion [2] - Meituan saw a decline of 4.235%, closing at 55.24 billion [2] - China Duty Free Group experienced a significant drop of over 10.506%, closing at 8.37 billion [3] Sector Analysis - The robotics, pharmaceuticals, and duty-free sectors all faced declines, with China Duty Free Group dropping over 10%, and other companies like Tigermed and Zhaoyan New Drug falling by more than 3.6% and 7.3% respectively [3] - Conversely, Zhizhu saw a notable increase of over 12%, marking a rise of over 440% since its listing in January [3] Future Outlook - According to Liu Gang, a managing director at CICC, the credit cycle will determine index space, while industry trends will influence structural strength [3] - Short-term market adjustments may occur, but there is potential for upward correction after a pullback [3] - The mid-term outlook suggests a projected earnings growth of 3% to 4% for Hong Kong stocks, with the Hang Seng Index potentially rising to around 28,000 to 29,000 points [3] - The influx of capital from the south post-Chinese New Year is expected to provide liquidity support for the Hong Kong market [3] - Recommendations include focusing on technology (AI computing and applications), non-bank financials (insurance), and dividend stocks, with an emphasis on the need to confirm earnings and liquidity turning points for the Hang Seng Tech Index [3]