又现“惊魂过山车”

Market Overview - On December 8, the Hang Seng Index closed down 1.23% at 25,765.36 points, with a total market turnover of HKD 206.2 billion. Southbound funds recorded a net inflow of HKD 1.54 billion [2][3]. Stock Performance - The Hang Seng Technology Index remained flat, while the Hang Seng China Enterprises Index fell by 1.25%. The biotechnology and banking sectors saw significant declines, with major banks like China Construction Bank down 4.01% and Industrial and Commercial Bank of China down 3.48% [3]. Lithium Battery Sector - On the same day, lithium battery stocks surged, with Ganfeng Lithium rising by 6.95% and CATL increasing by 3.28%. Analysts predict a month-on-month increase in lithium battery production in December, indicating a positive outlook for the sector [5][7]. Company-Specific Movements - China Jinshi experienced extreme volatility, with its stock price fluctuating over 70% during the day. It ultimately closed down 5.97% at HKD 0.63 per share after peaking with a gain of over 40% earlier in the session [9][11]. Southbound Fund Activity - Southbound funds showed strong interest in Xiaomi Group, with a net purchase of HKD 1.173 billion on December 8, contributing to a total of HKD 6.2386 billion over the past seven days [12][15]. New IPO Performance - The newly listed stock, Excellence Risen, saw a significant increase of 87.26%, closing at HKD 126.4 per share. The IPO was priced at HKD 67.50, with a subscription rate of 4,813.40 times for the public offering [17][20]. Regulatory Updates - The Hong Kong Stock Exchange announced an optimization of the collateral arrangements for its over-the-counter clearing company, effective January 2, 2026, which includes a reduction in fees over time [21].