Hong Kong stock market closing commentary: Hengke Index rose 2.16%, technology stocks surged, automobile and China-affiliated brokerage stocks were strong throughout the day.

Southbound funds saw a significant net inflow of 9.023 billion Hong Kong dollars for the whole day, with a total market turnover of 136.5 billion Hong Kong dollars.

The Hong Kong stock market opened low and rose steadily in the afternoon, with the three major indexes quickly rising. $Hang Seng TECH Index (800700.HK)$ At one point, it rose nearly 3% and closed up 2.16% at 4254 points. $Hang Seng Index (800000.HK)$ 、 $Hang Seng China Enterprises Index (800100.HK)$ They increased by 1.68% and 2.05% respectively. Southbound funds saw a significant net inflow of 9.023 billion Hong Kong dollars for the whole day, with a total market turnover of 136.5 billion Hong Kong dollars.

On the market, the rise of large-cap technology stocks in the afternoon helped boost the market. $MEITUAN-W (03690.HK)$ They increased by about 5%. $XIAOMI-W (01810.HK)$ They rose by 3.6%. $TENCENT (00700.HK)$ 、 $NTES-S (09999.HK)$ 、 $Alibaba (BABA.US)$ All sectors are rising; Cui Dongshu predicts that the car market will experience astonishing high growth in April, and automobile stocks are strong throughout the day, with the emerging automaker 'Wei Xiao Li' leading the gains; in the first quarter, the performance of many stocks in the industry increased significantly, China-affiliated brokerage stocks are strong, stocks beginning with middle letters generally rise, and large-scale infrastructure stocks lead the way; casino stocks, petroleum stocks, aviation/airlines stocks, coal industry concept stocks, and others all rise together. $PETROCHINA (00857.HK)$ Rising nearly 5% and achieving a 5-day consecutive increase. On the other hand, sales prices in the industry are declining, and building materials and cement stocks are falling against the trend. $CNBM (03323.HK)$ With a drop of nearly 8% after the performance report, the active golden industrial concept stocks and biomedical stocks are collectively pulling back, and Zhaojin Mining fell nearly 3.6%.

Specifically,

Most large-cap technology stocks rose. $XPENG-W (09868.HK)$ Up more than 12%. $NIO-SW (09866.HK)$ rising by more than 6%, $LENOVO GROUP (00992.HK)$ 、 $LI AUTO-W (02015.HK)$ Rising more than 5%, Meituan rose more than 4%, Xiaomi Group, Semiconductor Manufacturing International Corporation and others followed the uptrend.

Auto stocks soared, with Xpeng leading the rise with an increase of more than 12%, Nio, Great Wall Motor rising more than 6%, Li Auto, $LEAPMOTOR (09863.HK)$ up over 5%, $GEELY AUTO (00175.HK)$ 、 $BAIC MOTOR (01958.HK)$ and other stocks followed the upward trend.

In recent news, Cui Dongshu, Secretary-General of the China Passenger Car Association, recently stated that the Chinese automotive market in 2023 is facing a gradual improvement, with the automotive market in January and February being greatly affected by factors such as the Spring Festival and subsidy withdrawal. Driven by the low base of last year, the commercial vehicle market in China rebounded strongly in March, while the passenger vehicle market recovered more slowly due to the impact of promotional campaigns. The growth of the automotive market in April will be astonishingly high. According to data from the China Association of Automobile Manufacturers, the first quarter continued to show bright spots in the automotive market, with new energy vehicles maintaining high growth and exports starting the year with a positive note.

China-affiliated brokerage stocks performed strongly, $SWHYHK (00218.HK)$ leading the gains with an increase of over 8%, $CISI FIN (06058.HK)$ up 6%, $CICC (03908.HK)$ 、 $GF SEC (01776.HK)$ up over 5%, $HTSC (06886.HK)$ 、 $CMSC (06099.HK)$ 、 $EB SECURITIES (06178.HK)$ and other stocks followed the upward trend.

Industry insiders believe that the gold market is currently filled with contradictory emotions. Positive economic data gives investors hope, while the strong stance of the Federal Reserve plunges them into panic. In the short term, the gold price will still fluctuate due to objective factors; in the long term, the gold price may experience a trend of upward movement.

Agricultural stocks have seen a decline, with a drop of over 5%. $HUA LIEN INT'L (00969.HK)$ A decline of over 5%. $HONGJIU FRUIT (06689.HK)$ 、 $CONGYU INTE AGR (00875.HK)$ 、 $CHAODA MOD-NEW (00682.HK)$ Fell more than 3%.

Individual stock abnormal movement.

$IGG (00799.HK)$ In trading today, IGG rose 24.47% to a record high of HKD 5.85, with a cumulative increase of 88.64% so far this month, and it has recorded 8 consecutive gains. The current total market value is HKD 7.005 billion. In terms of news, IGG's tower defense strategy mobile game "Doomsday: Last Survivors" had a month-on-month surge of 414% in downloads in March, reaching 6.7 million downloads and ranking second in the overseas mobile game download chart for March. The Android platform contributed nearly 85% of the downloads. China Securities believes that in the future, with the normalization of game version releases, the supply in the gaming industry will recover, driving the industry's healthy development trend.