【Hong Kong Stock Market】Hang Seng Index drops around 400 points and falls below 25,000 again; Kuaishou shares plunge over 10%, China Life down 7%; Meituan declines 3% ahead of earnings; Pop Mart continues to decline (Updating continuously)

【Hang Seng Index / Hang Seng Index / HSIC / Hang Seng / HSI / Hong Kong Stocks / Night Futures / ADR】Hong Kong stocks fell nearly 350 points, with the Hang Seng Index opening down 68 points at 25,267. The trend then moved downward, with the Hang Seng half-day down 347 points to 24,988, with a turnover of HKD 136.73 billion. The Tech Index dropped 2.1% to 4,817 points. Kuaishou (01024) plunged over 13%, Alibaba (09988) fell more than 3%, Meituan (03690) retreated 3%, China Life (02628) declined nearly 8%, Pop Mart (09992) dropped over 9%.

Financial Daily:

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Real-time Market:

【12:00】 The Hang Seng half-day down 347 points, at 24,988, with a turnover of HKD 136.73 billion. The Tech Index fell 2.1% to 4,817 points. Kuaishou (01024) plunged over 13%, Alibaba (09988) fell more than 3%, Meituan (03690) retreated 3%, China Life (02628) declined nearly 8%, Pop Mart (09992) dropped over 9%.

【11:34】【2319 Earnings】 Mengniu expects revenue to rebound this year with single-digit growth target. Why did net profit surge nearly 14 times last year?

【11:29】【1024 Analysis】 Kuaishou’s earnings dropped nearly 14% after results; Nomura cuts target price. Analysis: Concerns over AI capital expenditure—“actually much more than what can be earned.”

【11:17】【Index ETF】 E Fund Asia Semiconductor ETF listed on Thursday, initial subscription scale in the billions.

【11:06】 The market further declined, latest down about 400 points to 24,935, with HKD 112.9 billion in turnover. The Tech Index fell 2.4% to 4,805. Pop Mart (09992) dropped over 7%, Alibaba (09988) fell 4%, China Life (02628) retreated over 3%, and Kuaishou (01024) declined over 12%.

【10:57】【MPF】 MPF rating: In March, the average MPF loss was HKD 21,542 per person. Stay calm and diversify investments.

【10:38】 Kingsoft (03888) rose over 8% against the trend, reaching HKD 25.1.

【3888 Earnings】 Kingsoft’s profit rose 29% to HKD 2 billion last year; final dividend reduced by 13% to HKD 0.13.

【10:29】 Hong Kong stocks early session fell about 350 points, breaking below 25,000, with a low of 24,975.

【10:27】【09992】 Pop Mart’s stock price again fell nearly 10% early, with over 1,000 buy orders queued at HKD 150 to bottom out.

【10:16】【815 Earnings】 China Silver (815) fell over 6% after results, earning over 57 times more last year, no dividend.

【10:16】 The Hang Seng Index latest down about 300 points, at 25,034, testing the 25,000 support level. Kuaishou (01024) dropped over 12%, China Life (02628) fell nearly 6%.

【09:58】 Meituan (03690), which surged yesterday, will announce earnings today. The stock retreated 3% before results, low of HKD 87.2.

【09:51】 The market early session down about 200 points, at 25,134.

【09:43】 IGG (00799) rose over 20% against the trend, reaching HKD 3.63.

【Mobile Game Stock 799 Earnings】 IGG’s full-year net profit fell less than 0.1%, with total special dividends of HKD 0.544.

【09:40】 China Life (02628) fell over 3% after results, low of HKD 26.38.

【2628 Earnings】 China Life’s final dividend increased 37% to 61.8 cents RMB; new business value up 36% year-on-year.

【09:39】 TVB (00511) rose over 1% after results, opening high at HKD 2.93.

【TVB 511】 Last year, TVB turned a profit of HKD 59 million, no dividend. Chairman Xu Tao: AI helped reduce production costs by 30%, rebranded as “Wireless Group” to reflect multi-platform entertainment media positioning (Second Edition).

【09:33】 Pop Mart (09992) briefly dropped nearly 10% after opening, low of HKD 152.

【09:22】 Hang Seng Index opened 68 points lower, at 25,267, with HKD 3.83 billion in turnover. The Tech Index fell 0.7% to 4,889. Kuaishou (01024) nearly 10% down after results, Pop Mart (09992) continued to weaken, down another 1%. JD.com (09618) rose over 2% against the trend.

【09:10】 Hang Seng Futures opened about 17 points lower, at 25,255.

【08:04】【Xi-Trump Meeting】 White House announces Trump will visit China on May 14-15; Xi Jinping will visit Washington later this year.

【07:49】【6682】 Paradigm Intelligent plans to issue A-shares and list on Shenzhen Stock Exchange after receiving guidance.

【07:45】【Morning Brief】 Pop Mart stock plunged over 22%, net profit nearly tripled last year; Kuaishou Q4 adjusted profit HKD 5.46 billion, beating expectations; Gemini fully unblocked in Hong Kong, testing successful.

【07:45】 Night futures closed down 102 points, at 25,268, with the Chinese concept stock index up 1.9%, at 6,897. JD.com ADR in US stocks up 3%.

| ADR | HKD Equivalent | Change from Hong Kong Close | | Meituan ADR | 89.29 | -0.79% | | Tencent ADR | 503.19 | -0.46% | | HSBC ADR | 127.00 | +1.60% | | Alibaba US Stock | 126.92 | -1.54% |

More Hong Kong Stocks ADR and Chinese Concept Stock Quotes:

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【07:30】 White House Press Secretary Karoline Leavitt announced Wednesday that President Trump will meet with Chinese President Xi Jinping in Beijing on May 14-15; markets anticipate this schedule means the US expects the Middle East war to end around mid-May, with US stocks rebounding sharply Wednesday. Dow Jones rose up to 594 points, but due to ongoing war negotiations, closed up 305 points at 46,429; S&P 500 up 0.54%; Nasdaq up 0.77%; the Golden Dragon Index, reflecting Chinese concept stocks, rose 1.86%.

See US stock market close:

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