{Economic Information Daily, 13th} Over the weekend, Saudi Arabia suffered consecutive days of attacks by Yemen's Houthi militants, resulting in civilian casualties. Markets are concerned about escalating tensions in the Middle East. Additionally, Ukraine accused Russia of violating the energy ceasefire, with the Russia-Ukraine conflict ongoing, causing oil prices to rebound. The Hang Seng Index broke below its 10-day line (around 24,200) at the market open, briefly falling below 24,000 in early trading before partially recovering, but met resistance at the 10-day line. It closed the morning session at 24,176, down 95 points or 0.4%. The Hang Seng China Enterprises Index stood at 8,121, down 46 points or 0.6%. The Hang Seng Tech Index was at 4,105, down 64 points or 1.5%. Morning session turnover on the main board rose to nearly HK$101.8 billion, while Northbound funds recorded a net inflow of approximately HK$600 million.
After ChangXin Technology announced a key breakthrough in the development of its 4F^2 DRAM architecture, market concerns intensified over increased industry competition, dragging down global memory-related stocks. GigaDevice (03986) fell 3.3% to HK$363.2, marking seven consecutive days of declines with a cumulative drop of 20.14%. CSOP Leverage SK Hynix (07709) plunged 18.16% to HK$26.04, while CSOP Leverage Samsung (07747) dropped 16.46% to HK$55.72.
AI hardware stocks also declined, with Hua Hong Semiconductor (01347) down 5.45% at HK$84.95, SMIC (00981) down 1.42% at HK$55.4, Kingboard Laminate (01888) down 3.46% at HK$45.18, and Yangtze Optical Fibre & Cable (06869) down 1.86% at HK$153.2.
Tech and internet stocks led the blue-chip declines: Alibaba (09988) fell 1.57% to HK$106.5, Tencent (00700) dropped 0.89% to HK$422, NetEase (09999) fell 1.91% to HK$195.3, JD.com (09618) declined 3.69% to HK$104.5, and Meituan (03690) was down 1.18% at HK$70.95.
Haidilao (06862) provided financial assistance to its founder Zhang Yong, granting a Hong Kong dollar loan facility with a principal limit of RMB 100 million, a term of one month, and an interest rate of one-month HIBOR plus 60 basis points. Citi expressed concerns about the impact on market sentiment. Haidilao's share price fell 4.74% to HK$9.135.
Citi resumed coverage on the Macau gaming sector, forecasting gaming revenue of MOP 25 billion for this month. Galaxy Entertainment (00027) rose 2.72% to HK$32.48, and Sands China (01928) gained 2.44% to HK$11.32, both leading the blue-chip gains.
BYD (01211) fell 2.82% to HK$72.25.
Hong Kong banking stocks advanced: Bank of China (Hong Kong) (02388) rose 2.08% to HK$51.65, HSBC (00005) gained 1.08% to HK$149.7, and Standard Chartered (02888) increased 1.87% to HK$228.6.
The top three most actively traded stocks in the Hang Seng Index, China Enterprises Index, and Tech Index were Alibaba, Tencent, and SMIC respectively. (ey)
After ChangXin Technology announced a key breakthrough in the development of its 4F^2 DRAM architecture, market concerns intensified over increased industry competition, dragging down global memory-related stocks. GigaDevice (03986) fell 3.3% to HK$363.2, marking seven consecutive days of declines with a cumulative drop of 20.14%. CSOP Leverage SK Hynix (07709) plunged 18.16% to HK$26.04, while CSOP Leverage Samsung (07747) dropped 16.46% to HK$55.72.
AI hardware stocks also declined, with Hua Hong Semiconductor (01347) down 5.45% at HK$84.95, SMIC (00981) down 1.42% at HK$55.4, Kingboard Laminate (01888) down 3.46% at HK$45.18, and Yangtze Optical Fibre & Cable (06869) down 1.86% at HK$153.2.
Tech and internet stocks led the blue-chip declines: Alibaba (09988) fell 1.57% to HK$106.5, Tencent (00700) dropped 0.89% to HK$422, NetEase (09999) fell 1.91% to HK$195.3, JD.com (09618) declined 3.69% to HK$104.5, and Meituan (03690) was down 1.18% at HK$70.95.
Haidilao (06862) provided financial assistance to its founder Zhang Yong, granting a Hong Kong dollar loan facility with a principal limit of RMB 100 million, a term of one month, and an interest rate of one-month HIBOR plus 60 basis points. Citi expressed concerns about the impact on market sentiment. Haidilao's share price fell 4.74% to HK$9.135.
Citi resumed coverage on the Macau gaming sector, forecasting gaming revenue of MOP 25 billion for this month. Galaxy Entertainment (00027) rose 2.72% to HK$32.48, and Sands China (01928) gained 2.44% to HK$11.32, both leading the blue-chip gains.
BYD (01211) fell 2.82% to HK$72.25.
Hong Kong banking stocks advanced: Bank of China (Hong Kong) (02388) rose 2.08% to HK$51.65, HSBC (00005) gained 1.08% to HK$149.7, and Standard Chartered (02888) increased 1.87% to HK$228.6.
The top three most actively traded stocks in the Hang Seng Index, China Enterprises Index, and Tech Index were Alibaba, Tencent, and SMIC respectively. (ey)
