《Economic Information Daily, Special Correspondent 5th》Last Friday, Hong Kong stocks were dragged down by sharp declines in international financial stocks such as HSBC (00005), causing the Hang Seng Index to fall below the 24,000 level. At the beginning of the new week, the market remained weak this morning, but after the U.S. non-farm payroll data for last month came in far below expectations, the Hong Kong market found support after trading at lower levels. The Hang Seng Index turned from decline to rise in the afternoon, briefly touching 24,000. However, with northbound funds halted, the market remained relatively dry, with turnover currently under HK$80 billion.

　　Currently, the Hang Seng Index stands at 23,994, up 22 points or less than 0.1%, with main board turnover exceeding HK$78.4 billion. The Hang Seng China Enterprises Index stands at 8,040, up 9 points or 0.1%. The Hang Seng Tech Index stands at 4,176, up 18 points or 0.4%.

　　Last Friday's non-farm data clearly supported global market conditions, with U.S. tech and internet stocks rebounding significantly. AI-related stocks were actively bought, driving similar sector stocks in Hong Kong to follow suit: Lenovo Group (00992) rose 4.6% to HK$35.9; Hua Hong (01347) rose 3.4% to HK$109.1; Yangtze Optical Fibre and Cable (06869) rose 2.2% to HK$179.2; Zhongji Xuchuang (03308) rose 3.5% to HK$1,109; Jetting-Board (01888) rose 11.4% to HK$55.05.

　　Major tech internet stocks remained stable, offsetting selling pressure on financial stocks: Tencent (00700) rose 0.5% to HK$423.2; Alibaba (09988) rose 1% to HK$105.4; Xiaomi (01810) fell 1.7% to HK$23.82; HSBC (00005) fell 0.2% to HK$149.2; Standard Chartered (02888) fell 0.8% to HK$228; AIA (01299) fell 0.9% to HK$68.6.


 (hc)