【Hong Kong Stock Night Futures + ADR + Northbound Funds】Hong Kong stocks open 3% higher; Night Futures close down 102 points (updating continuously)

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【Hang Seng Index / HSI / Hang Seng / HSIndex / Hong Kong Stocks / Night Futures / ADR】 Night futures close down 102 points, at 25,268 points. China concept stocks index up 1.9%, at 6,897 points. JD.com 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 Stocks | 126.92 | -1.54% |

Northbound funds buy HK$22.3 billion, main funds buy into the Link REIT ETF, Bubble Mart, and sell CNOOC and Tencent

Northbound funds buy HK$22.32 billion, with a net inflow of HK$11.38 billion for the day. The Hang Seng China Enterprises ETF also attracted HK$3.4 billion. Bubble Mart, which plunged over 20% on Wednesday, saw HK$2.31 billion net inflow. Outflows include CNOOC (00883) and Tencent (00700), with net outflows of HK$1.06 billion and HK$620 million respectively.

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恒指反覆升272點 泡泡瑪特績後捱沽急插22% 憧憬外賣大戰結束、美團抽升近14%

Hong Kong stocks fluctuated, rising over 200 points. Signs of easing in Middle East conflicts. Hang Seng Index opened higher by 216 points at 25,280, reaching a high of 25,390 after opening, then turned lower in the afternoon. The index rose 272 points to close at 25,335, with a turnover of HK$350.93 billion. The Tech Index rose 1.9% to 4,922 points. Bubble Mart (09992) plunged 22% after earnings, Meituan (03690) rose nearly 14%, Alibaba (09988) up over 4%.

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+11 +10

US stocks update continuously, details on the next page

Financial Daily:

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Market movements:
【17:37】【Gold Price Trend】Goldman Sachs: Maintain year-end gold price forecast of $5,400 supported by central bank gold buying
【17:31】【1024 Earnings】Kuaishou adjusted profit up 16.5% last year, final dividend HK$0.69
【17:24】【3888 Earnings】Kingsoft Software profit up 29% to RMB 2 billion, final dividend reduced by 13% to HK$0.13
【17:17】【Paperless Securities】USM to implement within the year, HKEX, SFC, and Treasury explain advantages, benefits for investors
【17:09】【Mobile Game Stock 799 Earnings】IGG full-year net profit down less than 0.1%, total dividend HK$0.544
【17:00】Green Tea Group 2025 earnings announced: resilient same-store sales and new store optimization drive growth, leading in Chinese chain restaurant sector
【16:59】【TVB 511】TVB turned profitable last year with HK$59 million net profit, no dividend, expects moderate ad revenue growth this year, suggests renaming to “Wireless Group”

【16:12】Hang Seng Index up 272 points, at 25,335, with HK$350.93 billion turnover. Bubble Mart (09992) plunged 22% after earnings, Meituan (03690) up nearly 14%, Alibaba (09988) up over 4%.

【16:00】Hang Seng futures up 219 points at 25,283, with HK$339.32 billion turnover.

【15:13】Hong Kong stocks up about 150 points, at 25,214. Meituan (03690) up over 12%, reaching HK$89.

【14:56】【1833 Earnings】Ping An Good Doctor: AI contributes 4.5% to gross profit, “AI+” becomes growth core, plans increased investment this year

【14:26】【9992 Earnings】Bubble Mart: expects growth rate not less than 20% this year, plans to launch LABUBU4.0 series in H2 (ongoing updates)

【14:10】Bubble Mart (09992) drops 20%, low of HK$172.6.

【13:57】Market rose about 300 points in the afternoon, latest gain narrowed to about 130 points.

【13:57】【Food Delivery War】Meituan shares surged 10% in the afternoon, JD.com and Alibaba up 5%, Market Supervision Bureau reposts article: “The food delivery war should end.”

【13:39】Meituan (03690), which will announce earnings tomorrow, rose 10% to HK$87.5. Alibaba (09988) up over 5%, Tencent (00700) slightly weaker, down 0.5%.

【13:34】Meituan (03690) up 7%, high of HK$85.85.

【13:33】Hong Kong stocks rose over 100 points, latest at 25,226, up 162 points, HK$183.7 billion turnover. Tech Index up 1.1% at 4,885.

【13:27】【HK Stock Analysis】 Hang Seng Index once surged over 300 points, briefly crossing the bull-bear line. Analysis: If a ceasefire agreement is reached, Hong Kong stocks could rise to 26,300.

【13:24】【9633 Analysis】 Nongfu Spring earnings surged 10% after results, beating expectations. Analysis: “Impeccable” performance.

【13:11】【371 Earnings】 Beijing Enterprises Water: net profit down 6.9% last year, final dividend up over 1% to HK$0.0925.

【13:06】Hong Kong stocks turned lower about 20 points in the afternoon, at 25,041, still above 25,000.

【13:06】Bubble Mart (09992) stock fell over 14% after earnings, low of HK$185.

【12:47】【9992 Earnings】Bubble Mart net profit RMB 12.78 billion, nearly tripling, 17 IPs over HK$100 million revenue, THE MONSTERS revenue HK$14.16 billion, Starry People revenue 16x growth.

【12:37】【6181 Major Bank Report】Old shop gold praised by two foreign institutions, but Nomura lowered target price by 5% due to gold price concerns?

【12:30】【Sports Goods 2020 Earnings】Anta Sports net profit down 12.9% to RMB 13.59 billion, first time revenue exceeds HK$800 billion, final dividend HK$1.08.

【12:00】Hang Seng half-day up 9 points, at 25,072, HK$151.29 billion turnover. Zijin (02899) up over 1%, CNOOC (00883) down over 3%, Xiaomi (01810) down nearly 3% after earnings, Nongfu Spring (09633) up over 8%.

【11:53】Zejing Shares (02632), which dipped yesterday, rebounded 60% on debut, high of HK$45.6.

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

【11:44】【1810 Earnings】Xiaomi CEO Lei Jun admits memory price hikes pose huge challenge, plans RMB 16 billion investment in AI this year, Q4 revenue up 7.3% YoY, adjusted profit HK$6.35 billion beats expectations (second edition).

【11:32】【9992】Bubble Mart previously rose 3% before earnings, will launch World Cup series toys with FIFA, Labubu holding the World Cup trophy.

【11:09】【3320 Earnings】 China Resources Medical: net profit up 20% last year, final dividend 1.3x to RMB 0.122, driven by revenue growth.

【11:03】Tencent (00700) down over 1%, Alibaba (09988) up nearly 1%, Meituan (03690) up over 1%.

【10:59】Wuxi Biologics (02269) down 3% against the trend.

【Wuxi Biologics 2269 earnings】 net profit up 46% YoY, gross margin up to 46%.

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

【10:48】【US-China Relations】Reported that China Investment Corporation is considering reallocating assets to US asset managers.

【10:26】【CK Hutchison sells ports】CK Hutchison’s Panama port claims exceed US$2 billion, accusing Panama government of attempting to delay international arbitration.

【10:19】CK Hutchison (00001) up 2%, its Panama port company reports expanding arbitration claims, alleging illegal takeover of port and assets, with losses now over US$2 billion.

【10:16】Early in the session, Hang Seng rose up to 326 points, high of 25,390, latest gain about 207 points at 25,271, HK$90.5 billion turnover, Tech Index up 1.4% at 4,900.

【09:43】SenseTime (00020) narrowed net loss, shares up over 5% to a high of HK$2.02.

【SenseTime earnings】 net loss last year narrowed 59% to RMB 1.77 billion, first EBITDA in H2.

【09:43】WH Group (00288) up over 4%, early high HK$10.05.

Pork stocks earnings｜WH Group: China meat sales expected to turn positive this year, Middle East war impact limited, full-year pre-fair value adjustment profit up 8.2%, final dividend HK$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 ends nine consecutive declines! Spot gold back above $4,500, with HK$1,800 per tael increase in local gold prices.

【09:22】Hang Seng opens higher by 216 points, at 25,280, with HK$49.2 billion turnover. Xiaomi (01810) down 2% after earnings, Alibaba (09988) up over 1%, Zijin (02899) up nearly 4%, CNOOC (00883) down 3%.

【1810 Earnings】Xiaomi CEO Lei Jun admits memory price hikes pose huge challenge, plans RMB 16 billion investment in AI this year, Q4 revenue up 7.3% YoY, adjusted profit HK$6.35 billion beats 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 HK$6.35 billion beats expectations

【07:45】Signs of easing in Middle East conflict, waiting for oil prices 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 ADR | 122.78 | -0.34% | | Baidu ADR | 110.10 | -2.22% |

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