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Hong Kong Market Records Moderate Gains Despite Weak Trading Volume
Hong Kong stock market records another day of gains, closing up 12 points or 0.05% at 26,847 points. This marks the second consecutive day of gains in two trading sessions. However, this success was not accompanied by strong trading momentum—total market turnover only reached HKD 285.4 billion, reflecting a significant decrease of 14.83% compared to the previous session.
Supporting Indices Show Mixed Signals
Diverse performances are seen across various major indices. The China Enterprises Hang Seng Index actually declined, down 4 points or 0.05%, ending at 9,048 points. Meanwhile, the Hang Seng Technology Index showed more pressure, dropping 1.84% to 5,366 points, indicating that the technology sector is facing more serious challenges amid limited trading volume.
Challenges Behind the Rise
Although the market recorded a gain for the day, the sharply declining trading volume is a warning sign. The 14.83% decrease in turnover reflects reduced investor participation, which usually indicates a lack of market confidence in the upward momentum. The combination of rising major indices with weak volume suggests that the current rally is moderate and not driven by strong buying from investors.