【Hong Kong Stock Market】Hang Seng Index up over 300 points, struggling to stay above 25,000; Kuaishou shares slump over 13%, China Life declines 8%; Meituan pre-earnings down 3%; Pop Mart continues to fall (updating continuously)

【Hang Seng Index / Hang Seng Index / HSI / Hang Seng Index / HSI / Hang Seng Index / 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. It 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) declined over 13%, Alibaba (09988) fell more than 3%, Meituan (03690) retreated 3%, China Life (02628) dropped nearly 8%, Pop Mart (09992) fell over 9% again.

Financial Daily:

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Market Movement:

【13:01】The Hang Seng Index declined about 335 points in the afternoon, struggling around the 25,000 level.

【12:53】【881 Earnings】Zhongsheng turned from profit to loss last year, with a loss of RMB 1.673 billion, no final dividend, and the two founders will reduce their salary to 1 yuan for 2026 to show their determination.

【12:49】【Food Delivery Stocks Analysis】Meituan and Alibaba retreated 3%. Analysis: Whether the food delivery war is over remains uncertain. If the era of burning cash for subsidies ends, Meituan will be the biggest beneficiary.

【12:42】【9992 Analysis】Pop Mart’s stock price continued to fall 9%. Major banks lowered target prices. Analysis: Management’s growth targets are too low, revenue is concentrated in Labubu.

【12:37】【1368 Earnings】Xtep’s full-year profit increased nearly 11%, with the final dividend maintained at HKD 0.095.

【12:31】【1475 Earnings】Nissin Foods’ full-year net profit rose nearly 65% to RMB 330 million, with a final dividend of HKD 0.1588.

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

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

【11:29】【1024 Analysis】Kuaishou’s earnings dropped nearly 14% after results; Nomura lowered its target price. Analysis: Concerns over AI capital expenditure being high—“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 a turnover of HKD 112.9 billion. The Tech Index fell 2.4% to 4,805. Kuaishou (01024) declined over 13%, Alibaba (09988) fell 4%, Meituan (03690) retreated over 3%, China Life (02628) and Pop Mart (09992) dropped over 7%.

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

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

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

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

【10:27】【9992】Pop Mart’s stock price fell another 10% early, with over 1,000 buy orders queued at HKD 150 to bottom out.

【10:16】【815 Earnings】China Silver’s stock fell over 6% after earnings; last year’s profit surged over 57 times; no dividend.

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

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

【09:51】The market early in the session declined about 200 points to 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 a total special dividend of HKD 0.544.

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

【2628 Earnings】China Life’s final dividend increased 37% to RMB 0.618; one-year new business value up 36%.

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

【TVB 00511】Last year, TVB turned a profit of HKD 59 million and paid no dividend. Xu Tao: AI helped reduce production costs by 30%, renaming to “Wireless Group” reflects multi-platform entertainment media positioning (second edition).

【09:33】【Pop Mart (09992)】 opened and once fell nearly 10%, low at HKD 152.

【09:22】The 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) declined nearly 10% after earnings; Pop Mart (09992) continued to weaken, down another 1%. JD.com (09618) rose over 2% against the trend.

【09:10】The Hang Seng Index futures declined about 17 points, at 25,255.

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

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

【07:45】【Morning Focus】Pop Mart’s stock plunged over 22%, net profit nearly tripled last year; Kuaishou’s Q4 adjusted profit of HKD 5.46 billion exceeded expectations; Gemini fully unblocked in Hong Kong, successfully operational.

【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 US stocks rose 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 Stocks | 126.92 | -1.54% |

More Hong Kong stocks ADRs 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 suggests the US expects the Middle East war to end around mid-May, with US stocks rebounding sharply on Wednesday. The Dow rose up to 594 points, but due to ongoing war negotiations, closed up 305 points at 46,429; the S&P 500 increased 0.54%, Nasdaq up 0.77%, and the Golden Dragon Index (China concept stocks) rose 1.86%.

See US stock market close:

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