Hong Kong Stock Trend | Hang Seng Index Closes Up 156 Points Back to 26,000 Level, ZTO Express Surges Over 7% Post-Earnings

Asia-Pacific stock markets generally performed well, but the A-shares early trading was relatively weak. The Hang Seng Index mostly hovered around 25,800 points in the morning, with gains driven by a rebound in A-shares in the afternoon, pushing the index up over 200 points at one point. The market closed up 156 points for the day, returning to the 26,000 level, but still constrained by the 20-day moving average (currently at 26,045).

After opening 54 points higher, the Hang Seng Index rose as much as 86 points in early trading. However, as it approached the 26,000 mark, selling pressure emerged, and it once fell 76 points to a low of 25,791, ending the half-day session down 43 points. In the midday rebound, it rose as much as 249 points, reaching a high of 26,117, and closed up 156 points or 0.61% at 26,025.

The China Enterprises Index gained 8 points or 0.1%, closing at 8,835; the Tech Index rose less than 1 point, at 5,108.

The total daily market turnover was HKD 240.374 billion, with a net northbound inflow of HKD 1.217 billion.

Out of 90 blue-chip stocks, 58 rose.

Tech stocks showed mixed performance. Alibaba (09988) increased its cloud service prices, turning positive in the afternoon, ending the day up 2.3% at HKD 137.7; Baidu (09888) raised AI computing power and other services by up to 30%, gaining 2.2% to HKD 121.8; Tencent (00700) rose 0.1% before earnings, at HKD 550.5; Meituan (03690) up 0.4% at HKD 80.3; NetEase (09999) up 0.5% at HKD 187.8; Kuaishou (01024) fell 1.4% to HKD 59.

The Shanghai Composite Index closed at 4,062 points, up 13 points or 0.32%, ending four days of decline; the Shenzhen Component Index closed at 14,187 points, up 148 points or 1.05%. The Nikkei Average ended its four-day losing streak, closing at its highest for the day at 55,239 points, up 1,539 points or 2.87%. The South Korea Seoul Composite Index closed at 5,925 points, up 284 points or 5.04%.

Focus Sectors

Automobile stocks: Under pressure, Li Auto (02015) fell 6.2% to HKD 66.85, the worst among blue chips; Geely Auto (00175) reported a slight profit increase last year but its stock fell 3.7% to HKD 18.15; BYD (01211) declined 2.2% to HKD 102.2.

Real estate stocks: Outperforming against the trend, Sun Hung Kai Properties (00016) rose 3.3% to HKD 137.8; Henderson Land (00012) up 2.5% at HKD 32.64; Wharf REIC (01997) increased 1.8% to HKD 25.1.

Oil stocks: Under pressure, CNOOC (00883) fell 1.7% to HKD 28.3; PetroChina (00857) down 0.9% at HKD 10.48; Sinopec (00386) unchanged at HKD 4.78.

Key Stocks

MiniMax (00100) announced a new generation flagship large model M2.7, demonstrating the “self-evolving model” approach for the first time. The stock surged 19.8% to HKD 1,238.

Several stocks showed volatile post-earnings performance. ZTO Express (02057) reported a 3% profit increase last year, and after earnings, its stock rose 7.4% to HKD 196.4, the best among blue chips.

Tencent Music (01698) declined 21.8% after earnings, closing at HKD 44.72.

CCT Group (00148) reduced its holdings of CCT Layers (01888), cashing out HKD 2.7 billion. The stock of CCT Layers fell 4.3% to HKD 22.02.

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