【Hang Seng Index Night Futures + Northbound Capital】Northbound Capital Absorbs HK$29.7 Billion Throughout the Day Supports Market; Over HK$24.8 Billion Sweeps Three Major Index ETFs, Sells SMIC and Alibaba; Hang Seng Index Night Futures Rebounds 596 Points (Continuous Updates)

【Hang Seng Index / Hang Seng Index / HS/HSI / Hong Kong Stocks / Night Futures / ADR】Hong Kong stocks plunged over 800 points, with Northbound funds once again flooding into Hong Kong to buy the dip, absorbing a total of 29.71 billion HKD throughout the day. Major funds focused on three ETF indices, including the Tracker Fund (02800), Southern Hang Seng Tech (03033), and Hang Seng China Enterprises ETF (02828), which recorded net inflows of 13.27 billion, 6.53 billion, and 4.84 billion HKD respectively. Xiaomi (01810) and Tencent (00700) attracted 1.22 billion and 0.79 billion HKD in net funds; meanwhile, China Semiconductor (00981) and Alibaba (09988) experienced net outflows of 0.52 billion and 0.07 billion HKD.

Hang Seng Index night futures rebounded by 596 points, at 24,943 points.

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Middle East War Disrupts Asian Stocks, Hang Seng Nearly 370 Billion in Turnover, Dives 894 Points AIA Life Insurance Falls 7%, HSBC and Standard Chartered Drop Over 4%, Yau Tai Securities Rises 12% Against Market Trend

The escalation of the Middle East conflict shook Asia-Pacific markets. The Hang Seng Index opened down 488 points at 24,789, then extended losses, with a late session plunge of 1,073 points, dropping below 24,200. The index fell 894 points to close at 24,382, with turnover increasing to 386.88 billion HKD. The Tech Index declined 3.3% to 4,712 points. Financial stocks fell sharply, with AIA (01299) dropping over 7%, HSBC (00005) and Standard Chartered (02888) down over 4%, China Life (02628) down over 7%, Ping An (02318) nearly 7%, while Yau Tai Securities (01428) rose 12% against the trend.

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US stocks continue to fluctuate; details on the next page

Financial Daily:

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Market Trends:

【19:20】Northbound funds absorbed 29.7 billion HKD today to support the market, over 24.8 billion HKD in three major ETF indices, while selling China Semiconductor and Alibaba. Hang Seng night futures rebounded by 596 points.

【18:41】【9885 Earnings】Pharmacist Help earned over 4 times more last year, final dividend increased to 0.11 RMB.

【18:07】【Real Estate Stock 683 Earnings】Kerry Properties’ underlying profit last year was 2 billion HKD, down 22%, final dividend 0.95 HKD, expected to sustain the upward trend this year (second edition).

【18:04】【Henderson Land Group Earnings】Henderson Development narrowed loss to 67 million HKD last year, no dividend; Citistore turned profitable. Lee Ka-shing: retail environment in Hong Kong remains challenging.

【17:59】【Henderson 12】Henderson Land’s underlying profit last year decreased 38% to over 6 billion HKD; final dividend down over 41% to 0.76 HKD.

【17:30】【291 Earnings】China Resources Beer: Focus on premium products, international expansion; full-year profit down 29%, dividend unchanged or increased, final dividend up 44% to 0.557 RMB.

【17:00】【Master Kong 322】Last year, Master Kong’s profit increased by 20%, final dividend including special dividend 79.84 cents, up 20% year-on-year.

【17:00】【Oil Price Trend】Sinopec: Will not buy Iranian crude oil. High oil prices increase refining costs, freight, and insurance premiums.

【16:59】【2565 Earnings】PAG Biotech narrowed loss to 208 million RMB last year, no dividend.

【16:57】【WuXi AppTec 2359 Earnings】WuXi Kander’s profit increased 105% year-on-year, expected total revenue for 2026 to be between 51.3 billion and 53 billion RMB.

【16:40】【6181 Earnings】Old Gold Shop’s profit surged 2.3 times last year, with an 88% increase in final dividend to 11.95 RMB.

【16:10】Hang Seng Index fell 894 points, closing at 24,382, with turnover rising to 386.88 billion HKD. Tech Index down 3.3% at 4,712. Financial stocks declined sharply, with AIA (01299) down over 7%, HSBC (00005) and Standard Chartered (02888) down over 4%, China Life (02628) down over 7%, Ping An (02318) nearly 7%, while Yau Tai Securities (01428) rose 12%.

【16:03】【AI + Investment】Manulife Insurance plans to expand investments and business in Hong Kong, including AI investments; the Treasury Department welcomes this.

【16:00】Hang Seng U-plate futures fell 868 points to 24,408, with a turnover of 35.78 billion HKD.

【15:52】Yau Tai Securities (01428) rose 9% against the market, reaching 12.97 HKD, with a turnover of 1.96 billion HKD.

【15:51】Hang Seng Index down about 845 points at 24,431.

【15:34】Before market close, the decline slowed slightly, with the Hang Seng Index down about 905 points at 24,372, turnover 32.96 billion HKD. Tech Index down 3.5% at 4,704.

【15:24】【Major Bank Views】Barclays’ Wong Wai-chung: AI large models and product iteration are rapid; no true winners yet.

【15:23】【Iran Crisis】Ping An Overseas, a subsidiary of Ping An, is reconsidering US investments due to increasing US unreliability.

【15:05】Hang Seng Index fell about 1,070 points towards the close, testing the 24,200 level.

【15:00】China Life (02628) fell nearly 9%, Ping An (02318) down over 7%, China Pacific Insurance (02328) down over 4%, Taiping Insurance (02601) down over 6%.

【14:58】【Electric Vehicles】Xpeng Motors reportedly officially established Robotaxi business unit to accelerate commercial application.

【14:06】Hang Seng Index plunged 1,000 points, AIA dropped 8%, HSBC and Standard Chartered down over 4%.

【13:42】Alibaba (09988) fell over 3%, low at 119.1 HKD.

【AI + 9988】Alibaba’s Q&A AI reportedly launched ride-hailing feature, allowing complete booking process with one sentence; also rumored to release key chip products tomorrow.

【13:33】Hang Seng Index down nearly 915 points at 24,362, with a turnover of 22 billion HKD. Tech Index down 3.4% at 4,707.

【13:28】China Resources Beer (00291) stock fell 50% after earnings, low at 23.66 HKD.

【13:27】Market again dropped to the 24,400 level.

【13:01】Hong Kong stocks in early afternoon fell about 825 points, at 24,453, with a turnover of 19.62 billion HKD. Tech Index down nearly 3%, at 4,727.

【12:24】【291 Earnings】China Resources Beer’s full-year profit down 29%, but dividend increased; final dividend up 44% to 0.557 RMB.

【12:24】【Two Dollars Two Discount】Public transport fare discount plan adjusted to “Two Dollars Two Discount,” effective April 3.

【12:18】【Real Estate Stock 683 Earnings】Kerry Properties’ underlying profit last year was 2 billion HKD, down 22%, maintaining a final dividend of 0.95 HKD, with a current dividend yield of 6.4%.

【12:00】Hang Seng Index half-day decline of 875 points, at 24,402, with a turnover of 19.24 billion HKD. Tech Index down 3.1% at 4,721. HSBC (00005), Standard Chartered (02888) down 4%, AIA (01299) down 7%. ATM nearly 2% lower at over 3%, PetroChina (00857) down 0.9%, CNOOC (00883) down 0.5%, BYD (01211) up 0.7%, Geely (00175) up 4%.

【11:58】【Major Bank Views】Chinese tech companies increasing AI spending; Credit Suisse Private Banking’s Zoe Yuen: investment may face short-term pain; not recommended to heavily allocate AI now.

【11:58】【Major Bank Views】Wui Lee: three reasons why internet stocks remain under pressure; Middle East conflict and unclear rate cut path cause short-term liquidity pressure in Hong Kong stocks.

【11:41】China Hongqiao (01378) down over 11%, low at 30.1 HKD. China Hongqiao’s annual net profit about 22.64 billion RMB, up 1.2%, with a final dividend of 1.65 HKD per share, up 61.8%.

【11:38】【China Development High-Level Forum 2026】Lei Jun: Xiaomi’s R&D investment over the next five years will exceed 200 billion RMB.

【11:16】Market’s decline gradually widened, once dropping 880 points below 24,400, low at 24,396.

【11:05】【Internet Brokerage】US brokerage Firstrade plans to enter Hong Kong! Reported to have hired RO, applying for license, focusing on “zero commission.”

【11:04】【Famous Industry Trust】Famous Industry Trust sells 1.5 billion HKD worth of Famous East Hotel; Centaline plans to convert it into student dormitories.

【10:47】Market further declines, latest drop over 800 points, Hang Seng at 24,460, down 816, with a turnover of 14.32 billion HKD. Tech Index down 2.5% at 4,751.

【10:03】【17】K11 MUSEA luxury brand upgrade plan updates over 30% of leasing area; expects double-digit rent increases for related shops.

【10:02】【1099 Earnings】China National Pharmaceutical Group’s profit up 1.5% last year; final dividend 0.69 RMB.

【09:58】Hong Kong stocks early decline of 700 points, at 24,576, with a turnover of 85.4 billion HKD. Tech Index down 1.9% at 4,779. AIA (01299) down nearly 6%, HSBC (00005) down nearly 4%, BYD (01211) up over 2%, Geely (00175) up over 4%.

【09:52】Towngas (00003) after earnings down 3%, low at 7.01 HKD.

【Towngas 003 Earnings】China Gas: expects price hikes this year, specific increase uncertain; final dividend maintained at 0.23 HKD at end of 2025.

【09:47】【Fast Innovation (03355)】IPO opened at 56 HKD, 34.6% above IPO price of 41.6 HKD, profit of 1,440 HKD per lot of 100 shares. GuoNian Technology (02701) opened at 14.3 HKD, 32.4% above IPO price of 10.8 HKD, profit of 700 HKD per lot of 200 shares.

【New IPO】Fast Innovation (03355) opened 34.6% higher, earning 1,440 HKD per lot; oversubscribed 1578.7 times. GuoNian Technology (02701) opened 32.4% higher, earning 700 HKD per lot; oversubscribed 130.8 times.

【09:44】【Chifeng Gold (06693)】resumed trading, early down over 20%, low at 31.2 HKD. Zijin (02899) down 4%, Zijin Gold International (02259), Zhaojin (01818) down 2%, Lingbao Gold (03330) down nearly 9%.

【Gold Price Trend】Spot gold once fell near $4,300, with Hong Kong gold price down another 1,000 HKD per tael from high, retreating 10,000 HKD from peak.

【Zijin Mines 2259 Earnings】Zijin Mining last year profit up 62% to a record high, final dividend 0.38 RMB per share.

【Zijin Gold International Earnings】First full-year results since listing, net profit surged 2.3 times, final dividend 1.5 HKD.

【09:22】Hang Seng Index opened 488 points lower at 24,789, with turnover of 8.42 billion HKD. Tech Index down 1.9% at 4,780. HSBC (00005), AIA (01299) down over 3%, Alibaba (09988) down over 2%, Tencent (00700) down 2%.

【09:08】Hang Seng Futures down about 556 points at 24,694.

【08:59】【06693】Zijin Gold acquired by Zijin, becoming the largest shareholder.

【07:38】【New IPO】Copper Master 664 plans to raise up to 500 million HKD, a copper-themed cultural and creative product company with IP licenses including Nezha, Transformers, G.I. Joe, etc., entry fee 6,869 HKD.

【07:58】【New IPO】Fourier 3625 plans to raise up to 600 million HKD, a power amplifier and tactile feedback chip supplier, entry fee 5,050 HKD.

【07:45】【Morning Brief】US and Iran threaten to strike civilian infrastructure; Xiaomi reports earnings Tuesday, memory stocks affected.

【07:45】US rate hike expectations rise, 10-year US Treasury yield jumps to 4.38%, night futures down 525 points, closing at 24,725, China concept stocks fall 2.9%, closing at 6,742, HSBC ADR down nearly 3%.

| ADR | HKD Equivalent | Change from HK Market Close | | Meituan ADR | 77.35 | -2.27% | | Tencent ADR | 497.42 | -2.08% | | HSBC ADR | 120.56 | -3.17% | | Alibaba US Stock | 119.86 | -3.10% |

More Hong Kong stocks ADR and Chinese concept stocks quotes:

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【07:30】Iran conflict intensifies, US President Trump on Friday said, “I don’t want a ceasefire.” Energy prices fluctuate, Dow drops over 600 points at times; US 10-year bond yield surges to 4.38%. Night futures fall 525 points, closing at 24,725; China concept stocks decline 2.9%, closing at 6,742; HSBC ADR drops nearly 3%.

See US stocks close for details: