On January 8, 2025, the Hong Kong stock market closed lower. The Hang Seng Index (HSI) fell by 0.86%, the Hang Seng China Enterprises Index (HSCEI) fell by 0.84%, the Hang Seng Tech Index (HSTECH) fell by 1.09%, and the Hang Seng China-Affiliated Corporations Index (HSCCI) fell by 0.54%.

In terms of sectors, the technology sector was notably weak. Key tech stocks such as TENCENT fell by 2.74%, XIAOMI-W fell by 3.95%, and JD-SW fell by 0.22%. The decline in these stocks was influenced by broader market concerns over potential interest rate cuts by the Federal Reserve.

TENCENT fell by 2.74% after being added to the U.S. Department of Defense's list of Chinese military companies, which led to market adjustments. Tencent stated that the inclusion was a mistake and plans to initiate a review process. Despite the short-term impact, institutions believe the effect on Tencent's overseas business is limited, and the stock's decline presents a buying opportunity. Additionally, Tencent's major shareholder Prosus reduced its holdings, but Tencent doubled its buyback efforts to mitigate the impact.

XIAOMI-W fell by 3.95% due to market concerns over potential interest rate cuts by the Federal Reserve, which also affected the Hang Seng Index and Nasdaq.

CHINA SHENHUA fell by 2.78% after Bank of America Securities downgraded the ratings of China Shenhua and Yanzhou Coal Mining, favoring PetroChina instead.

BEIGENE fell by 0.95% as the company issued 542,900 ordinary shares following the exercise of stock options by a director on January 8, 2025.

LENOVO GROUP fell by 1.95% after completing a $2 billion zero-coupon convertible bond investment and strategic cooperation agreement with Alat, a company under Saudi Arabia's Public Investment Fund (PIF). Lenovo will establish its Middle East and Africa headquarters in Saudi Arabia and build a sustainable manufacturing base in the country.

CTG DUTY-FREE fell by 3.13% after Morgan Stanley lowered its target price to HKD 55 and adjusted its earnings forecast due to a 29% decline in offline duty-free store sales in Hainan last year. However, the impact is expected to diminish, and the port business is anticipated to recover.

XPENG-W rose by 2.32% after opening over 4% higher. The company secured the top spot in new energy vehicle sales in the first week of the year, and its flying car is expected to be mass-produced and delivered in 2026.

EAST BUY rose by 2.61% after the company issued multiple statements clarifying false rumors spread by certain self-media, stating that no one had insulted Dong Yuhui in any setting. The company emphasized that these rumors were fabricated to create hatred and mislead uninformed netizens into attacking the company. Legal action will be taken against the rumor-mongers.