Week Ending: 28 August 2026

Hong Kong HK Sector

Industrials

For the week ending 28 August 2026, Industrials declined 0.04% with 211 advancing, 237 declining, and 46 unchanged constituents. The index is equal weighted and built from country-listed equities.

Current architecture Unresolved

The Activity Lines, Trend Line and price acceptance remain genuinely mixed.

49 technical evidence

Index1076.04 1 week-0.04% Breadth43% Members494

Industry

Country 🇭🇰 Hong Kong · HK

Universe country-listed

Price basis Adjusted weekly close

Trend architecture

Index, activity fan and structural anchors

Rolling 156-week evidence. Trend Signal points mark weeks when price, trend and the activity fan confirmed together.

Index Value Trend Line Fair Value Activity Lines Constructive architecture Transitional architecture Defensive architecture

Current architecture Unresolved 3 completed weeks in this state

Trend acceptance -3.6% Index versus Trend Line

Persistence 25% Positive regime, shorter trend weakening

Participation 43% 211 advancing, 237 declining

Investor positioning lens

Is the evidence ready for capital?

A rules-based technical classification using trend, breadth, persistence, relative strength and path quality.

Current posture Hold and wait for confirmation

The evidence is balanced enough to avoid a defensive call, but not aligned enough for aggressive positioning.

49 technical evidence
out of 100

Evidence balance

Five-pillar map

Wait

Trend

Breadth

Persistence

Relative

Risk quality

What supports the view

Medium-term relative returns and peer standing remain constructive.

What restrains conviction

Index trend architecture has not delivered a durable upward expansion.
Breadth remains too narrow or inconsistent for a high-conviction position.
Constituent persistence remains divided or predominantly negative.
The current 13-week parent-relative trend is weakening.
Stage 4 declining constituents exceed Stage 2 advancing constituents by 32 percentage points.

Independent sentiment overlay Sentiment held separate

Qualified news coverage is too thin to alter the technical positioning view.

Evidence that would change the view

A completed weekly reclaim of 1,115.93, the higher of Trend Line and Fair Value, would improve the structural case.
Breadth holding above 55% for several completed weeks would show that repair is spreading.
Positive 13 and 26-week relative performance would confirm that capital is rotating into the group.

This is a weekly research classification, not personal investment advice. Sentiment is reported as an independent confirmation layer and does not alter the technical score.

Trend state and durability

Architecture, persistence and constituent regimes

The index path is tested against the underlying security-level trend evidence.

Index architecture Unresolved

The Activity Lines, Trend Line and price acceptance remain genuinely mixed.

State age3 weeks

Trend gateDown

Fan width2.70%

Fast versus slow change1.79 pts

Above 0% Below 0%

Six completed weeks of price acceptance relative to the full Activity Line fan.

Index persistence

Positive regime, shorter trend weakening

25% agreement

The long trend remains positive, but the 13-week horizon has turned against it.

13-week

-5.2%

26-week

-9.2%

39-week

-0.5%

52-week

3.2%

Regime age66 weeks 52-week flips0 52-week boundary1042.27

Constituent trend persistence

Is the index move broadly durable?

96% coverage

49%positive

Coherent positive18%

Coherent negative35%

Average horizon agreement81%

Positive horizon share41%

Weakening positives84

Repairing negatives41

476 constituents measured as of 28 Aug 2026. Median trend age is 21 weeks.

Custom stage map

Where constituents sit in the cycle

96% coverage

57%Stage 4

Stage 1 · Basing7%35 securities

Stage 2 · Advancing25%117 securities

Stage 3 · Distribution10%49 securities

Stage 4 · Declining57%271 securities

Re-acceleration watch3 Transition watch25 Relative strength leaders18% Fair Value repairs20

Measured as of 28 Aug 2026. Stages summarize price, Activity Line architecture, Fair Value position and relative evidence.

Architecture breadth

How market energy is distributed

78/100 mean confidence

Upward expansion

16% 76

Rotation up

7% 31

Deceleration

9% 44

Balance

13% 61

Rotation down

3% 12

Downward expansion

53% 248

Unresolved

0% 0

Architecture breadth shows the distribution of expanding, rotating, balancing and contracting securities. It is diagnostic context and is not added as a second vote in the positioning score.

Capital rotation

Performance relative to HK Market Structure

Weakening

Relative index 13-week relative trend Starting level

Rotation dashboard Weakening

A rising relative line means this group is compounding faster than HK Market Structure. A falling line means capital has done better in the parent benchmark.

Relative index117.6

13-week trend118.1

4-week trend change0.39%

Weekly peer rank6 of 11

1 week

0.1 pts relative

4 weeks

-0.6 pts relative

13 weeks

0.3 pts relative

26 weeks

4.1 pts relative

52 weeks

14.1 pts relative

Market internals

Participation, dispersion and path risk

Equal-weight index evidence with constituent-level breadth and dispersion.

Breadth

Participation quality

Narrow

43% advanced

Advancing: 211
Declining: 237
Unchanged: 46

4-week average 42%

13-week average 40%

Risk and persistence

Path quality

52-week lens

Annualised weekly volatility9.6%

Drawdown from 52-week high-9.2%

Positive weeks, last 1338%

Current directional run1 week

Turnover versus 13-week norm150%

Breadth impulse3.1 pts

Cross-section

Return distribution

494 measured

Q1 -3.4% Median 0.0% Q3 2.7%

Average winner6.4%

Average loser-5.2%

Dispersion8.9 pts

Top-five upside share19%

Top-five capital share46%

Capital data coverage100%

Dispersion describes how far constituent outcomes are spreading apart. Capital concentration is contextual only; the index itself is equal weighted.

Momentum cycle

30-week persistence

Positive readings show expansion. Negative readings show contraction.

Breadth cycle

Net participation

Advancers less decliners as a percentage of measured constituents.

Industry map

Where sector leadership is forming

Performance, breadth and trend acceptance across every qualified industry.

13/23 positive

Above Trend Line6/2326% of industries

Constructive breadth10/23At least half advancing

Median industry0.52%1.87 pts dispersion

#1 Repairing

News and narrative

Does company news confirm the market tape?

Open Sentiment Intelligence

Sentiment evidence is still developing

Qualified company-level news coverage is not yet broad enough to influence the group view.

0 qualified records across 494 measured constituents.

Leadership tape

Leaders, laggards and contribution shape

Latest completed week, ranked on uncapped constituent returns.

Leading edge

1 0254National United Resources Holdings Limited

78.79% 2 1826FDB Holdings Limited

56.59% 3 1489GC Construction Holdings Limited

47.06% 4 6829Dragon Rise Group Holdings Limited

37.14% 5 6182Twintek Investment Holdings Limited

33.33%

Weakest edge

494 6888Freetech Road Recycling Technology (Holdings) Limited

-27.68% 493 2559Dida Inc.

-22.98% 492 1586China Leon Inspection Holding Limited

-21.51% 491 1725China Strategic Technology Group Limited

-20.55% 490 6063Lotus Horizon Holdings Limited

-19.74%

Constituent ledger

Sector constituents

Top 100 of 494 shown, ranked by latest weekly return.

Rank Ticker Company Exchange Market cap Close Index contribution Return

1 0254 National United Resources Holdings Limited HKG 156.10M 0.236 0.05 pts

78.79%

2 1826 FDB Holdings Limited HKG 695.30M 0.285 0.05 pts

56.59%

3 1489 GC Construction Holdings Limited HKG 1.91B 1.88 0.05 pts

47.06%

4 6829 Dragon Rise Group Holdings Limited HKG 635.04M 2.40 0.05 pts

37.14%

5 6182 Twintek Investment Holdings Limited HKG 436.00M 0.72 0.05 pts

33.33%

6 8328 Xinyi Electric Storage Holdings Limited HKG 345.63M 0.44 0.05 pts

33.33%

7 1841 A.Plus Group Holdings Limited HKG 186.00M 0.485 0.05 pts

31.08%

8 1536 Yuk Wing Group Holdings Limited HKG 205.20M 0.32 0.05 pts

28.00%

9 6038 G & M Holdings Limited HKG 431.29M 0.435 0.05 pts

26.09%

10 1429 Skymission Group Holdings Limited HKG 320.00M 0.205 0.05 pts

23.49%

11 1282 Renze Harvest International Limited HKG 515.00M 0.099 0.04 pts

22.22%

12 1529 Yues International Holdings Group Limited HKG 557.01M 0.775 0.04 pts

20.16%

13 1796 Metaspacex Limited HKG 362.40M 0.51 0.04 pts

20.00%

14 9938 Wah Wo Holdings Group Limited HKG 260.00M 0.28 0.04 pts

19.15%

15 2227 Solis Holdings Limited HKG 389.13M 0.38 0.04 pts

18.75%

16 1673 Huazhang Technology Holding Limited HKG 478.84M 0.305 0.04 pts

17.31%

17 8137 Honbridge Holdings Limited HKG 8.85B 0.56 0.03 pts

16.67%

18 2442 Easy Smart Group Holdings Limited HKG 47.29B 108.30 0.03 pts

16.45%

19 0261 GBA Holdings Limited HKG 78.32M 0.26 0.03 pts

16.07%

20 2510 T.S. Lines Limited HKG 22.51B 13.75 0.03 pts

14.87%

21 1920 Junwea Group (China) Company Limited HKG 246.79M 0.43 0.03 pts

14.67%

22 9998 Kwan Yong Holdings Limited HKG 320.00M 0.44 0.03 pts

14.29%

23 0631 Sany Heavy Equipment International Holdings Company Limited HKG 30.31B 9.24 0.03 pts

14.14%

24 1463 C-Link Squared Limited HKG 1.11B 0.385 0.03 pts

13.24%

25 8262 Super Strong Holdings Limited HKG 48.01M 0.053 0.03 pts

12.77%

26 0148 Kingboard Holdings Limited HKG 58.44B 52.65 0.03 pts

12.50%

27 3389 Hengdeli Holdings Limited HKG 1.61B 0.32 0.02 pts

12.28%

28 1645 Haina Intelligent Equipment International Holdings Limited HKG 1.53B 2.95 0.02 pts

12.17%

29 8027 KPM Holding Limited HKG 32.84M 0.122 0.02 pts

11.83%

30 2169 Canggang Railway Limited HKG 2.08B 0.54 0.02 pts

11.34%

31 2250 B.Duck Semk Holdings International Limited HKG 341.59M 0.345 0.02 pts

11.29%

32 0842 Leoch International Technology Limited HKG 1.35B 1.00 0.02 pts

11.05%

33 8059 Glory Flame Holdings Limited HKG 808,484 0.021 0.02 pts

10.53%

34 3816 KFM Kingdom Holdings Limited HKG 1.85B 2.82 0.02 pts

10.39%

35 3339 Lonking Holdings Limited HKG 15.19B 3.55 0.02 pts

9.91%

36 0525 Guangshen Railway Company Limited HKG 17.14B 2.46 0.02 pts

9.84%

37 1729 Time Interconnect Technology Limited HKG 38.62B 16.72 0.02 pts

9.64%

38 1850 Beautiful Life Group Holdings Limited HKG 85.54M 0.57 0.02 pts

9.62%

39 0038 First Tractor Company Limited HKG 11.13B 9.36 0.02 pts

9.22%

40 6100 Tongdao Liepin Group HKG 1.04B 2.32 0.02 pts

9.20%

41 1496 AP Rentals Holdings Limited HKG 158.98M 0.188 0.02 pts

8.98%

42 0936 Kaisa Capital Investment Holdings Limited HKG 339.20M 0.32 0.02 pts

8.47%

43 3382 Tianjin Port Development Holdings Limited HKG 3.97B 0.645 0.02 pts

8.40%

44 0517 COSCO SHIPPING International (Hong Kong) Co., Ltd. HKG 9.65B 6.54 0.02 pts

8.37%

45 1597 China Nature Energy Technology Holdings Limited HKG 1.50B 5.96 0.02 pts

8.36%

46 0862 Vision Values Holdings Limited HKG 437.55M 1.17 0.02 pts

8.33%

47 1559 Kwan On Holdings Limited HKG 143.24M 0.052 0.02 pts

8.33%

48 1737 A & S Group (Holdings) Limited HKG 150.00M 0.161 0.02 pts

8.05%

49 8619 NIU Holdings Limited HKG 33.39M 0.082 0.02 pts

7.89%

50 1865 Pengo Holdings Group Limited HKG 573.82M 0.425 0.02 pts

7.59%

51 1690 Lap Kei Engineering (Holdings) Limited HKG 221.12M 0.13 0.02 pts

7.44%

52 1420 Chuan Holdings Limited HKG 375.94M 0.22 0.01 pts

7.32%

53 1596 Hebei Yichen Industrial Group Corporation Limited HKG 220.00M 0.265 0.01 pts

7.29%

54 3808 Sinotruk (Hong Kong) Limited HKG 109.17B 41.90 0.01 pts

7.16%

55 3789 Royal Deluxe Holdings Limited HKG 264.00M 0.23 0.01 pts

7.03%

56 1196 Realord Group Holdings Limited HKG 13.72B 8.64 0.01 pts

6.86%

57 0598 Sinotrans Limited HKG 44.41B 4.94 0.01 pts

6.81%

58 0025 Chevalier International Holdings Limited HKG 1.52B 5.03 0.01 pts

6.79%

59 6656 SIGENERGY HKG 82.21B 364.20 0.01 pts

6.74%

60 8637 Metasurface Technologies Holdings Limited HKG 511.17M 3.41 0.01 pts

6.73%

61 8629 Guangdong Syntrust GK Testing and Certification Tech Service Center Co., Ltd. HKG 305.02M 9.00 0.01 pts

6.51%

62 2682 Yun Lee Marine Group Holdings Limited HKG 128.00M 0.132 0.01 pts

6.45%

63 8042 KOS International Talent Group Limited HKG 57.60M 0.083 0.01 pts

6.41%

64 0154 Beijing Enterprises Environment Group Limited HKG 607.65M 0.42 0.01 pts

6.33%

65 2225 Jinhai Medical Technology Limited HKG 23.99B 5.14 0.01 pts

6.31%

66 8411 K W Nelson Interior Design and Contracting Group Limited HKG 105.49M 0.12 0.01 pts

6.19%

67 1408 Macau E&M Holding Limited HKG 180.00M 0.36 0.01 pts

5.88%

68 1399 Veson Holdings Limited HKG 414.20M 0.37 0.01 pts

5.71%

69 2176 CCID Consulting Company Limited HKG 332.50M 0.48 0.01 pts

5.49%

70 8430 C&N Holdings Limited HKG 13.35M 0.08 0.01 pts

5.26%

71 1272 Datang Environment Industry Group Co., Ltd. HKG 3.26B 1.10 0.01 pts

5.24%

72 1884 eprint Group Limited HKG 66.00M 0.121 0.01 pts

5.22%

73 8305 Sheng Tang Holdings Limited HKG 95.70M 0.061 0.01 pts

5.17%

74 2086 Leadway Technology Investment Group Limited HKG 188.54M 0.51 0.01 pts

5.15%

75 2265 Hongcheng Environmental Technology Company Limited HKG 1.20B 1.12 0.01 pts

5.14%

76 0365 Sino ICT Holdings Limited HKG 545.62M 0.41 0.01 pts

5.13%

77 1975 Sun Hing Printing Holdings Limited HKG 213.60M 0.42 0.01 pts

5.00%

78 8422 WT Group Holdings Limited HKG 36.00M 0.105 0.01 pts

5.00%

79 8535 Vistar Holdings Limited HKG 152.40M 0.127 0.01 pts

4.96%

80 0351 Asia Energy Logistics Group Limited HKG 678.29M 0.32 0.01 pts

4.92%

81 2482 Logory Logistics Technology Co., Ltd. HKG 432.10M 0.32 0.01 pts

4.92%

82 0306 Kwoon Chung Bus Holdings Limited HKG 1.30B 2.74 0.01 pts

4.90%

83 1222 Wang On Group Limited HKG 297.85M 0.022 0.01 pts

4.76%

84 3882 Sky Light Holdings Limited HKG 428.65M 0.44 0.01 pts

4.76%

85 0118 Cosmos Machinery Enterprises Limited HKG 170.66M 0.199 0.01 pts

4.74%

86 8620 Asia-express Logistics Holdings Limited HKG 90.53M 0.155 0.01 pts

4.73%

87 0077 AMS Public Transport Holdings Limited HKG 142.75M 0.555 0.01 pts

4.72%

88 1549 Ever Harvest Group Holdings Limited HKG 106.95M 0.071 0.01 pts

4.41%

89 1637 SH Group (Holdings) Limited HKG 252.00M 0.595 0.01 pts

4.39%

90 1500 In Construction Holdings Limited HKG 315.40M 0.36 0.01 pts

4.35%

91 8425 Hing Ming Holdings Limited HKG 36.10M 0.096 0.01 pts

4.35%

92 2340 ISP Holdings Limited HKG 113.18M 0.145 0.01 pts

4.32%

93 2490 LC Logistics, Inc. HKG 2.77B 4.64 0.01 pts

4.27%

94 8040 Coolpoint Innonism Holding Limited HKG 173.40M 0.51 0.01 pts

4.08%

95 1283 Accel Group Holdings Limited HKG 1.33B 1.57 0.01 pts

3.97%

96 1615 AB Builders Group Limited HKG 237.00M 0.40 0.01 pts

3.90%

97 2355 Baoye Group Company Limited HKG 1.59B 3.20 0.01 pts

3.90%

98 2153 Tat Hong Equipment Service Co., Ltd. HKG 945.17M 0.805 0.01 pts

3.87%

99 0317 CSSC Offshore & Marine Engineering (Group) Company Limited HKG 17.73B 12.67 0.01 pts

3.85%

100 0587 China Conch Environment Protection Holdings Limited HKG 502.36M 0.27 0.01 pts

3.85%

The index uses capped equal-weight weekly constituent returns. The ledger shows uncapped security returns so outliers remain visible for research.

Industrials

Index, activity fan and structural anchors

Is the evidence ready for capital?

Five-pillar map

Architecture, persistence and constituent regimes

Positive regime, shorter trend weakening

Is the index move broadly durable?

Where constituents sit in the cycle

How market energy is distributed

Performance relative to HK Market Structure

Participation, dispersion and path risk

Participation quality

Path quality

Return distribution

30-week persistence

Net participation

Where sector leadership is forming

Railroads

Security & Protection Services

Staffing & Employment Services

Farm & Heavy Construction Machinery

Airlines

Industrial Distribution

Rental & Leasing Services

Marine Shipping

Metal Fabrication

Specialty Business Services

Integrated Freight & Logistics

Building Products & Equipment

Engineering & Construction

Infrastructure Operations

Waste Management

Specialty Industrial Machinery

Aerospace & Defense

Conglomerates

Electrical Equipment & Parts

Tools & Accessories

Airports & Air Services

Consulting Services

Pollution & Treatment Controls

Does company news confirm the market tape?

Leaders, laggards and contribution shape

Leading edge

Weakest edge

Sector constituents