【Hong Kong Stock Market Update】Hang Seng Index drops 347 points and falls below 25,000; Kuaishou shares plunge over 13%, China Life Insurance declines nearly 8%, Meituan drops 3% ahead of earnings release, Pop Mart continues to decline (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 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%, Bubble Mart (09992) fell over 9% again.

Financial Daily:

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Real-time Market:

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

【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 shares plummeted nearly 14% after earnings; Nomura cuts target price. Analysis: Concerns over high AI capital expenditure—“Actually much more than what can be earned.”

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

【11:06】Market further declines, latest down about 400 points to 24,935, with HKD 112.9 billion in turnover. Tech Index down 2.4% to 4,805. Kuaishou (01024) dropped over 13%, Alibaba (09988) fell 4%, Meituan (03690) retreated over 3%, China Life (02628) and Bubble Mart (09992) fell over 7%.

【10:57】【MPF】Fund rating: In March, average MPF loss per person was HKD 21,542. Calls for calm and diversified investments.

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

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

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

【10:27】【09992】Bubble Mart’s stock price dropped 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; profit increased over 57 times last year; no dividend.

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

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

【09:51】Market early decline of 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 special dividends totaling 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 61.8 cents RMB; new business value up 36% year-on-year.

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

【TVB 00511】Last year, TVB turned profitable with HKD 59 million, no dividend. Xu Tao: AI helped reduce production costs by 30%, rebranded as “Wireless Group” to reflect multi-platform entertainment media positioning (Second Edition).

【09:33】Bubble Mart (09992) briefly dropped nearly 10% after market open, low at HKD 152.

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

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

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

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

【07:45】【Morning Focus】Bubble Mart shares 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 US stocks up 3%.

| ADR | HKD Equivalent | Change from HK Market 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 ADR and Chinese Concept Stock Quotes:

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【07:30】White House Press Secretary Karoline Leavitt announced Wednesday that President Trump will visit China on May 14-15 in Beijing; markets anticipate this schedule means the US expects the Middle East war to end around mid-May, leading to a significant rebound in US stocks on Wednesday. Dow Jones rose up to 594 points, but war negotiations remain uncertain. The Dow 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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