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【Hong Kong Stock Market Update】Hang Seng Index Turns Lower in Afternoon Trading; Pop Mart Plunges Over 14% After Earnings; Oil Price Decline Drags CNOOC Down 3% (Continuously Updated)
【Hang Seng Index / Hang Seng Index / HSIC / Hang Seng / HSI / Hong Kong Stocks / Night Futures / ADR】Hong Kong stocks opened higher but softened, with a slight midday gain. Signs of easing in Middle East conflicts helped the market continue to open high, up 216 points at 25,280. After opening, the index rose as much as 326 points to a high of 25,390, then the gains narrowed. By midday, the Hang Seng was only slightly up 9 points at 25,072, with a turnover of HKD 151.29 billion. The Tech Index underperformed, down 0.5%, at 4,807 points. Zijin (02899) rose over 1%, CNOOC (00883) fell over 3%, Xiaomi (01810) dropped nearly 3% after earnings, and Nongfu Spring (09633) rose over 8% post-earnings.
US stocks are continuously updating; see the next page for details.
Financial Daily:
Market Movements:
【13:11】【371 Earnings】Beijing Enterprises Water Group net profit fell 6.9% last year; final dividend increased over 1% to 9.25 HK cents
【13:06】Hong Kong stocks turned down about 20 points in the afternoon, at 25,041, still holding above 25,000.
【13:06】Pop Mart (09992) stock price dropped over 14% after earnings, hitting a low of HKD 185.
【12:47】【9992 Earnings】Pop Mart’s net profit last year was RMB 12.78 billion, nearly tripling; 17 IPs earned over 100 million; THE MONSTERS revenue was RMB 14.16 billion, and Starry People’s revenue grew 16-fold.
【12:37】【6181 Major Bank Report】Old gold shops are favored by two foreign institutions, but Nomura lowered target price by 5%, possibly due to gold price concerns.
【12:30】【Sports Goods 2020 Earnings】Anta Sports’ net profit fell 12.9% to RMB 13.59 billion; revenue first exceeded HKD 80 billion; final dividend of HKD 1.08.
【12:00】 Hang Seng Index slightly up 9 points midday, at 25,072, with a turnover of HKD 151.29 billion. The Tech Index underperformed, down 0.5%, at 4,807. Zijin (02899) rose over 1%, CNOOC (00883) fell over 3%, Xiaomi (01810) dropped nearly 3% after earnings, Nongfu Spring (09633) rose over 8% after earnings.
【11:53】Zejing Holdings (02632), which plunged yesterday, rebounded 60% on its first day of listing, reaching HKD 45.6.
【11:46】Hong Kong stocks’ midday gains narrowed to about 30 points.
【11:44】【1810 Analysis】Xiaomi dropped over 3%; smartphone gross margin fell to 8.3%; capital expenditure doubled. Lei Jun: low gross margin + cost pressure.
【11:32】【9992】Pop Mart’s stock rose 3% before earnings; will launch World Cup series toys with FIFA, and Labubu will hold the World Cup trophy.
【11:09】【3320 Earnings】China Resources Pharmaceutical surged nearly 10% after earnings; profit increased 20% last year; interim dividend rose 1.3 times to RMB 0.122.
【11:03】Tencent (00700) fell over 1%; Alibaba (09988) rose nearly 1%; Meituan (03690) up over 1%.
【10:59】Wuxi Biologics (02269) fell 3% against the trend.
【Wuxi Biologics 2269 Earnings】Net profit last year increased 46% YoY; gross margin rose to 46%.
【10:51】Market’s gain further narrowed to about 150 points, near 25,200.
【10:48】【China-US Relations】Reportedly, China Investment Corporation is considering reallocating assets to US asset managers.
【10:26】【CKH sells port assets】CKH’s Panama port claim increased to over USD 2 billion, accusing the Panamanian government of attempting to delay international arbitration.
【10:19】CKH (00001) rose 2%; its Panama port company said it expanded arbitration claims after the government “illegally took over” port facilities and assets, with losses now over USD 2 billion.
【10:16】Early in the session, Hang Seng rose as much as 326 points to 25,390, but the latest rise slowed to about 207 points, at 25,271, with a turnover of HKD 90.5 billion. The Tech Index rose 1.4%, at 4,900.
【09:43】SenseTime (00020) narrowed net loss, stock up over 5% to a high of HKD 2.02.
【SenseTime Earnings】Net loss last year narrowed 59% to RMB 1.77 billion; first EBITDA recorded in H2.
【09:43】WH Group (00288) rose over 4% after earnings; early high of HKD 10.05.
Pork stocks earnings｜WH Group: China meat sales expected to turn positive this year; Middle East war impact limited; full-year pre-valuation profit up 8.2%, final dividend HKD 0.41.
【09:43】Zijin (02899) up over 4%; Zijin Gold International (02259) up over 7%; Shandong Gold (01787) up 5%; Lingbao Gold (03330) up 8%.
【Gold Price Trend】Gold prices ended nine consecutive declines! Spot gold back above USD 4,500 per ounce; local gold price rose HKD 1,800 per tael in a single day.
【09:22】 Hang Seng Index continued to open high, up 216 points at 25,280; turnover HKD 4.92 billion. Xiaomi (01810) fell 2% after earnings; Alibaba (09988) rose over 1%; Zijin (02899) up nearly 4%; CNOOC (00883) down 3%.
【1810 Earnings】Xiaomi CEO Lei Jun admits huge challenge from memory price hikes; investing RMB 16 billion in AI this year; Q4 revenue up 7.3% YoY; adjusted profit RMB 6.35 billion, beating expectations (second edition).
【09:08】Hang Seng futures up about 91 points, at 25,138.
【07:45】【Morning Brief】Trump: Rubio and Vance involved in Iran negotiations; Xiaomi Q4 adjusted profit RMB 6.35 billion beats expectations.
【07:45】Signs of easing in Middle East conflict; oil prices expected to fall. Night futures close up 11 points, at 24,972; China concept stocks down 0.4%, at 6,771.
| ADR | HKD equivalent | Change from HK market close | | Meituan ADR | 78.12 | -1.11% | | Tencent ADR | 509.51 | -0.87% | | HSBC ADR | 124.10 | +0.41% | | Alibaba US stocks | 122.78 | -0.34% | | Baidu US stocks | 110.10 | -2.22% |
More Hong Kong ADRs and Chinese concept stocks quotes:
【07:30】Multiple US media report that the US is engaging with Iran on a ceasefire plan; Iranian officials deny Trump’s claims of behind-the-scenes negotiations but confirm messages and proposals have been exchanged. US stocks are slightly weak; Dow fell 438 points to 45,769, then closed down 84 at 46,124; S&P 500 down 0.4% at 6,556; Nasdaq down 0.8% at 21,761.
See US stock market close:
Hong Kong stocks yesterday market, see details at: 【Hong Kong Night Futures + ADR + Northbound Funds】 Night futures close up 11 points; Baidu US stocks down 2%.