On the first trading day after the Lunar New Year holiday, Hong Kong stocks plunged, opening 500 points lower. Despite dovish comments from Federal Reserve officials reducing interest rate hike expectations and a decline in U.S. bond yields, Asian markets generally rebounded this morning, yet Hong Kong stocks remain weak. Referring to the street position distribution of Hang Seng Index bull and bear warrants, two 100-point zones—24,100 to 24,199 and 24,200 to 24,299—have each accumulated over a thousand corresponding index futures contracts, indicating bearish targets. Currently, the Hang Seng Index opened at 24,099, breaching both heavily positioned bull zones.
Financial stocks were among the main targets; AIA (01299) fell 4.2% to HK$70.5; HKEX (00388) dropped 1.5% to HK$382; BOCHK (02388) declined 1.3% to HK$51.55; Standard Chartered (02888) fell 5.2% to HK$231.6; CCB (00939) slipped 0.7% to HK$9.75; ICBC (01398) dropped 1.2% to HK$7.62; Ping An of China (02318) declined 1.5% to HK$51.95.
Currently, the Hang Seng Index stands at 24,099, down 513 points or 2.1%, with turnover of nearly HK$5.4 billion on the main board. The Hang Seng China Enterprises Index is at 8,078, down 141 points or 1.7%. The Hang Seng Tech Index is at 4,176, down 76 points or 1.8%.
| Stock (Code) | Current Price (HK$) | Change (%) |
|---|---|---|
| HSBC (00005) | 149.30 | Down 5.51% |
| AIA (01299) | 70.5 | Down 4.21% |
| HKEX (00388) | 382 | Down 1.5% |
| BOCHK (02388) | 51.55 | Down 1.34% |
| Standard Chartered (02888) | 231.6 | Down 5.24% |
| CCB (00939) | 9.75 | Down 0.71% |
| ICBC (01398) | 7.62 | Down 1.17% |
| Ping An of China (02318) | 51.95 | Down 1.52% |
| China Life (02628) | 27.78 | Down 1.21% |
| CICC (03908) | 19.12 | Down 2.25% |
