【Hong Kong Stock Market Update】Hang Seng Index Falls Over 200 Points in Afternoon Session; HSBC and Standard Chartered Both Drop Over 4%; Dah Sing Financial Surges Over 30%; Cathay Pacific Drops 3%, Swire Pacific Rises 5% (Continuously Updated)

【Hang Seng Index / Hang Seng Index / HS/HSI / Hong Kong Stocks / Night Futures / ADR】Hong Kong stocks half-day down by 100 points. Ongoing Iran conflict, oil prices up 10%, Hang Seng Index opens 133 points lower, at 25,583 points. After opening, it once fell 241 points, reaching a low of 5,475 points for the month, then the decline slightly narrowed. The Hang Seng Index closed the half-day session down 122 points at 25,594 points, with a turnover of HKD 126.06 billion. Tech index fell 0.4%, at 5,007 points. Financial stocks followed US bank declines, HSBC (00005) fell nearly 4%, Standard Chartered (02888) dropped over 4%, AIA (01299) declined over 1%. Petrochemical giants rose 1% with oil prices, Cathay Pacific (000292) was sold off by Swire (00019), dropping nearly 3%, while Swire rose 5% to a new high against the trend. Whales Securities (01428) surged over 37%, and MTR Corporation (01716) reopened with a 16% increase.

US stocks are continuously updating; see next page for details.

Financial Daily:

▲ Financial Daily

Market Trends:

【14:52】MINIMAX (00100) continued to retreat 7%, once falling below HKD 1,000, low at HKD 993. Zhipu (02513) retreated over 4%, and Xunce (03317) dropped 15%.

【14:47】Hong Kong stocks declined by 255 points to 25,460, with HKD 178.7 billion in turnover. Tech index down 0.9% at 4,984. Standard Chartered (02888) and HSBC (00005) both fell over 4%.

【14:44】【AI + Brokerage】Futu Securities’ CEO Xie Zhijian: NiuNiu AI upgraded from “Problem Assistant” to Intelligent Engine; aims to launch AI self-compiled index in Q2; also previews parental securities account service.

【14:16】Legendary Superstar (06683) rose over 20%, reaching a high of HKD 8.73.

【14:16】【AI + OpenClaw】HK Broadband launches AI Lobster Farming OpenClaw application; workshop HKD 788 including installation.

【13:56】Latest Hang Seng Index down about 165 points, at 25,551.

【13:14】【Resource Stocks Analysis】Three separate developments in oil, CNOOC hits new high, coal and aluminum stocks retreat, short-term benefits from Middle East war expected.

【13:02】Hong Kong stocks fell about 125 points in early afternoon, at 25,592.

【12:57】【Iran Crisis】MPF funds affected by Middle East conflict; GUM reports: early March average loss of HKD 13,610 per person, year-to-date return only HKD 1,202.

【12:29】【Listing Reform】WVR mechanism reform in three directions; listed companies with HKD 40 billion market cap can have 1 share voting 20 times; all companies allowed to submit confidential reports.

【12:00】Hang Seng Index half-day down 122 points at 25,594, turnover HKD 126.06 billion. Tech index down 0.4% at 5,007. Financial stocks follow US bank declines, HSBC (00005) down nearly 4%, Standard Chartered (02888) down over 4%, AIA (01299) down over 1%. Petrochemical giants rise 1%, with oil prices. Cathay Pacific (000292) sold off by Swire (00019), down nearly 3%, while Swire rose 5% against the trend. Whales Securities (01428) surged over 37%, and MTR Corporation (01716) rose over 16%.

【11:55】【Auto Stocks Analysis】Li Auto’s earnings fell nearly 4% after results; analysis: guidance below expectations drags valuation; industry expected to improve in Q2. Which car stock is more optimistic?

【11:41】Whales Securities (01428) surged over 43%, high at HKD 9.92, with a trading volume of over HKD 1.7 billion.

【11:34】Hong Kong stocks fell about 100 points before noon close, Hang Seng at 25,610, down 106 points, with HKD 119.7 billion in turnover. Tech index down 0.5% at 5,002.

【11:19】【01428】Whales Securities’ large transaction caused a 30%+ surge amid market focus on Ant Group’s acquisition progress.

【11:16】CATL (03750) continued to hit new highs, up over 1%, at HKD 622, for the fourth consecutive day.

【11:15】SenseTime (00020) fell over 4%, low at HKD 1.96.

【AI + OpenClaw】SenseTime’s AI assistant “Office Little Raccoon” integrated with OpenClaw; Zui Jing Technology launches AI Box all-in-one solution.

【11:09】【Hong Kong Stock Analysis】Hang Seng Index once fell over 200 points; Cathay Pacific down 4%; analysis: Swire’s sell-off may not fully reflect pessimism about Cathay’s outlook.

【11:03】HSBC (00005) down over 3%, low at HKD 124; Standard Chartered (02888) down 4%, low at HKD 166.3. Morgan Stanley and Cliffwater restrict redemption of private funds, triggering sharp declines in US bank stocks: Morgan Stanley down 4.1%, Goldman Sachs down 4.4%, Citigroup and Goldman Sachs both down over 3%.

【10:58】Dipu Technology (01384) continued to decline, down over 23% this morning, low at HKD 53, halving from early month high of HKD 120.

【10:58】【IPO】HanTian Tiancheng approved for listing on HKEX; develops silicon carbide epitaxial chips; Huawei, China Resources, ICBC invested.

【10:41】Whales Securities (01428) surged nearly 30%, high at HKD 9.07, with HKD 930 million in turnover.

【10:38】【1810 Major Bank Report】CICC cuts Xiaomi target price by 26% to HKD 37; rating downgraded to Neutral.

【10:20】【1810】Lei Jun: Next-gen Xiaomi SU7 development progressing smoothly, official release this month; fully focused on production preparations.

【10:12】Tencent (00700), Alibaba (09988) rose over 1%, Hong Kong stocks’ decline narrowed to about 50 points.

【09:59】Whales Securities (01428) rose over 14% against the trend, high at HKD 8.08, with HKD 240 million in turnover.

【09:53】Market opened down over 200 points, at 25,481, down 235.

【09:38】MTR Corporation (01716) reopened with nearly 30% gain, hitting a high of HKD 1.59, with HKD 18.71 million in turnover.

【09:30】【AI + 9618】JD Cloud launches OpenClaw installation event today, offering live “real” lobsters.

【09:26】Orient Overseas (00316) down over 3%, last year’s profit down 41%, final dividend halved to HKD 0.42 per share from HKD 1.32.

【Shipping Stocks】Orient Overseas International’s profit down 41% last year; final dividend HKD 0.42; Middle East tensions add uncertainty.

【09:26】【Li Auto (02015)】Post-earnings down over 1%.

【2015 Earnings】Li Auto’s Q1 adjusted profit down 93%; expects total revenue to decrease up to 21%; Li Xiang: launching new Li Auto L9 series in Q2, accelerating overseas expansion (second edition).

【09:22】Hang Seng Index opened 133 points lower at 25,583, with HKD 43.3 billion in turnover; tech index down 0.4% at 5,006. Cathay Pacific (00293) down 3%, Swire A (00019) up 4%, PetroChina (00857) and CNOOC (00883) up over 1%.

【09:09】Hang Seng futures down about 231 points, at 25,479.

【08:57】【Gold Price Trend】Gold rebounds to $5,100 but likely to record second consecutive week of decline.

【08:35】【IPO】Guo Min Technology (2701) plans to raise up to HKD 1 billion; platform-based IC design company; entry fee HKD 2,182; how much water in A-shares?

【08:09】【IPO】Fei Su Chuang Xin (3355) plans to raise up to HKD 1.66 billion; online DTC network solutions provider; initial entry fee HKD 4,202.

【07:45】【293】Swire offers nearly 10% discount on some Cathay Pacific shares, maintains confidence and firm commitment.

【07:45】【Morning Brief】ICAC and SFC raid 14 locations, detain 6 men and 2 women; funds involved in insider trading net HKD 315 million; Iran: Wife of Khamenei not dead, planning attacks on US companies and Middle East oil plants.

【07:45】Ongoing Iran conflict, oil prices up 10%, night futures close down 233 points at 25,467, Hang Seng down 1%, at 7,094; Meituan ADR down 1.4% in Hong Kong.

| ADR | HKD Equivalent | Change from HK Market Close | | Meituan ADR | 75.61 | -1.43% | | Tencent ADR | 541.38 | -0.94% | | HSBC ADR | 128.61 | -0.23% | | Alibaba (US) | 131.29 | -0.23% |

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