On December 12, 2024, the Hong Kong stock market closed higher. The Hang Seng Index (HSI) rose by 1.20%, the Hang Seng China Enterprises Index (HSCEI) increased by 1.53%, the Hang Seng Tech Index (HSTECH) gained 1.53%, and the Hang Seng China-Affiliated Corporations Index (HSCCI) climbed 0.95%.

In terms of industry sectors, the blockchain concept stocks saw significant gains, with MEITU surging 13.25%. The restaurant sector also performed well, with HAIDILAO rising 3.89% and YUM CHINA up 3.04%. The sportswear sector saw ANTA SPORTS increase by 2.49% and LI NING up 2.68%. The Tesla concept stocks also showed positive performance, with BYD COMPANY rising 2.41% and NEXTEER up 4.13%. The internet healthcare sector saw JD HEALTH increase by 1.33%.

TENCENT rose by 1.42% as Hong Kong stocks extended gains with investors awaiting details from a key Chinese economic policy meeting that could reveal measures to combat deflation and the impact of higher US tariffs. The Hang Seng Index gained 1.34% and the Hang Seng Tech Index added 2.04%. China's economic work conference is expected to conclude soon.

BABA-W increased by 2.09% as China ADRs and ETFs rallied in overnight trading. YINN jumped 4.6%; Fangdd rose 18%; PDD rose 2.88%; XPeng rose 2.6%. Markets are waiting patiently for further stimulus clues from China's Central Economic Work Conference which is concluding today, according to a note from the UOB Global Economics & Markets Research team.

XIAOMI-W surged 3.78% after NIO founder Li Bin stated that the company will not participate in a price war and will maintain price stability. The entry of technology companies like Huawei and Xiaomi has significantly changed the industry.

TRIP.COM-S surged 4.36% as Chinese shares related to consumption surged amid expectations for more specific consumption measures and policy easing next year. The expectation of expanding domestic demand and improving people's livelihoods is helping to boost consumer willingness and capacity.

CTG DUTY-FREE saw its stock price rise by 7.60% as the company announced significant growth in revenue from its duty-free stores at Beijing and Shanghai airports, with year-on-year increases of over 140% and nearly 60%, respectively. The company is also enhancing its product supply and introducing new brands.

MENGNIU DAIRY surged 7.21% as the company continues to perform strongly in the market.

BILIBILI-W rose by 4.05% as the Hang Seng Tech Index saw gains, with most tech stocks strengthening. Bilibili, Trip.com, and Baidu all saw significant increases.

MNSO increased by 4.49% as the company reported a 19.3% year-on-year increase in total revenue for the third quarter, with overseas revenue growing by 39.8%. The company's gross profit margin also reached a historical high.

MAO GEPING saw its stock price surge by 11.65% as the high-end Chinese beauty group listed on the Hong Kong Stock Exchange, achieving a market value of several billion Hong Kong dollars.