Hong Kong stock market closed higher on Monday. The Hang Seng Index rose by 0.82%, the Hang Seng China Enterprises Index increased by 0.98%, the Hang Seng Tech Index gained 0.31%, and the Hang Seng China-Affiliated Corporations Index climbed by 1.31%.

In terms of sectors, the Hong Kong movie stocks sector saw a significant increase of 5.57%, with notable gains in Strawbear Entertainment, Alibaba Pictures, and Maoyan Entertainment. The Hong Kong internet medical sector also performed well, rising by 2.75%, with JD Health and Ali Health among the top gainers. However, the Hong Kong popular tech stocks sector experienced a slight decline of 0.36%, with Tencent falling by 1.45%.

Alibaba-W rose by 1.12%. Alibaba remains a strong buy due to its aggressive investments in e-commerce and cloud computing, with a 74% potential upside. The company shows stable revenue growth and strong financials.

Zijin Mining increased by 2.28%. Zijin Mining's international holding company underwent a business change, with its registered capital increasing from 10 billion RMB to 12 billion RMB.

BOC Hong Kong edged up by 0.81%. BOC Hong Kong announced the extension of its cross-border clearing service hours for the Hong Kong RMB clearing bank to 24 hours from Monday to Friday. The Hong Kong Monetary Authority welcomed this optimization, stating that it would help the Hong Kong RMB clearing system better serve banks and customers in different time zones, further consolidating Hong Kong's unique role in the internationalization of the RMB.

Baidu-SW surged by 3.17%. Baidu's stock rebounded nearly 4%, with expectations of adjusting its strategy to regain a major order from Apple.

SMIC climbed by 2.83%. SMIC's A-shares surged over 10% amid positive news. On December 23, SMIC's stock price soared by 5.12% due to financing purchases and favorable performance. SMIC ranks third in global wafer foundry revenue, with a 14.2% quarter-on-quarter increase, reaching $2.2 billion. The importance of domestically advanced process chips continues to rise, and market expectations are high for better development opportunities for leading domestic companies like SMIC.

East Buy jumped by 5.87%. East Buy's WeChat store launched a new "gift" feature, attracting market attention and boosting its stock price.

SF Holding fell by 1.03%. SF Holding's H-shares were included in the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect securities lists, effective December 23, 2024, which is expected to expand its investor base and enhance the liquidity of its H-shares.