【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 / HSI / Hang Seng Index / HSI / Hang Seng Index / Hong Kong Stocks / Night Futures / ADR】Hong Kong stocks opened higher but softened, closing slightly up at midday. Signs of easing in Middle East conflicts helped the market, with the Hang Seng Index opening 216 points higher at 25,280, reaching a high of 25,390 after opening, then narrowing gains to close the half-day session up just 9 points at 25,072. Turnover was 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% after earnings.

US stocks are continuously updating; see details on the next page.

Financial Daily:

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Market Movement:

【13:11】【371 Earnings】Beijing Enterprises Water Group’s 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 above 25,000.

【13:06】Pop Mart (09992) stock price fell 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 yuan; THE MONSTERS revenue was RMB 14.16 billion, and Star People’s revenue grew 16 times.

【12:37】【6181 Major Bank Report】Old brand gold companies are optimistic about prospects, though Nomura lowered target price by 5%, citing gold price concerns.

【12:30】【2020 Sports Goods Earnings】Anta’s net profit last year 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 closed midday up 9 points at 25,072, with turnover 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 (02632), which plunged yesterday, rebounded 60% on its first day of listing, reaching HKD 45.6.

【11:46】Hong Kong stocks’ gains narrowed to about 30 points before noon close.

【11:44】【1810 Analysis】Xiaomi dropped over 3%, with smartphone gross margin falling to 8.3%, capital expenditure doubled. Lei Jun: low gross margin + cost pressure.

【11:32】【9992】Pop Mart’s stock rose 3% before earnings, to 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, with profit up 20% last year and a 1.3-fold increase in final dividend 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% year-on-year; gross margin rose to 46%.

【10:51】Market’s gain further narrowed to about 150 points, near 25,200.

【10:48】【China-US Relations】According to reports, China Investment Corporation is considering reallocating assets to US asset managers.

【10:26】【CKH】CKH’s Panama port company’s 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 reportedly expanded arbitration claims, stating that after the government’s “illegal takeover” of port facilities and assets a month ago, losses have now exceeded 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. Turnover was HKD 90.5 billion. The Tech Index rose 1.4%, at 4,900.

【09:43】SenseTime (00020) narrowed net loss, stock up over 5%, reaching 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, reaching HKD 10.05 earlier.

Pork stocks｜WH Group: China meat sales expected to turn positive this year; Middle East war has limited impact; full-year profit before fair value adjustments increased 8.2%, with a final dividend of HKD 0.41.

【09:43】Zijin (02899) up over 4%, Zijin Gold International (02259) up over 7%, Zhaojin (01818), 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, with local gold price up HKD 1,800 per tael.

【09:22】 Hang Seng opened 216 points higher at 25,280, with HKD 4.92 billion in turnover. Xiaomi (01810) fell 2% after earnings, Alibaba (09988) rose over 1%, Zijin (02899) up nearly 4%, CNOOC (00883) down 3%.

【1810 Earnings】Xiaomi’s Lei Jun admits huge memory price hikes and RMB 16 billion AI investment 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 Hong Kong 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 stock quotes:

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【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 the US has sent messages and proposals. US stocks are slightly weak; Dow fell 438 points to 45,769, then closed down 84 points at 46,124. S&P 500 down 0.4%, at 6,556; Nasdaq down 0.8%, at 21,761.

See US stock market close for details:

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【Hong Kong stocks yesterday’s market, see details at: 【Hong Kong Stocks Night Futures + ADR + Northbound Funds】 Night futures closed up 11 points; Baidu US stocks underperformed US stocks by 2%.**