ETN News (13th) - Over the weekend, Saudi Arabia suffered consecutive days of attacks by Yemen's Houthi militants, resulting in civilian casualties. Market concerns over escalating tensions in the Middle East rose, compounded by Ukraine's accusation that Russia violated the energy ceasefire, indicating the Russia-Ukraine war continues, causing oil prices to rebound. The Hang Seng Index dropped below its 10-day moving average (around 24,200) at the opening, briefly falling below 24,000 in early trading, but later recovered. Towards the close, Hong Kong stocks surged, driven by financial stocks, breaking above the 10-day moving average and turning positive. The Hang Seng Index closed at 24,345, up 74 points or 0.3%. The Hang Seng China Enterprises Index closed at 8,174, up 6 points or less than 0.1%. The Hang Seng Tech Index closed at 4,136, down 32 points or 0.8%. Main board turnover reached nearly HK$187.6 billion. Northbound trading recorded a net outflow of HK$460 million, ending five consecutive trading days of net inflows.
Financial stocks helped Hong Kong stocks rebound. HSBC (00005) rose 1.76% to HK$150.7, returning above HK$150; AIA (01299) gained 1.6% to HK$73.05; Bank of China (Hong Kong) (02388) rose 3.26% to HK$52.25; non-blue-chip Standard Chartered (02888) increased 2.41% to HK$229.8. Additionally, HKEX (00388) rose 1.12% to HK$379.6.
After ChangXin Technology announced a key breakthrough in its 4F^2 DRAM architecture development, market concerns intensified over increased industry competition, dragging down global memory-related stocks. GigaDevice (03986) dropped 4.1% to HK$360.2, CSOP Leverage SK Hynix (07709) plunged 17.98% to HK$26.1, and CSOP Leverage Samsung (07747) fell 13.64% to HK$57.6.
Other AI hardware stocks also declined. Hua Hong Semiconductor (01347) dropped 5.29% to HK$85.1, Lenovo Group (00992) fell 3.83% to HK$31.1, SMIC (00981) slipped 1.16% to HK$55.55; Kingboard Laminates (01888) declined 4.49% to HK$44.7, and Yangtze Optical Fibre & Cable (06869) dropped 3.52% to HK$150.6.
Tech stocks showed mixed performance. Alibaba (09988) fell 0.92%, becoming the main drag, closing at HK$107.2; Tencent (00700) dipped 0.14% to HK$425.2; Meituan (03690) rose 0.7% to HK$72.3; Xiaomi (01810) gained 2.12% to HK$25.04.
Haidilao (06862) provided financial assistance to its founder Zhang Yong, granting a HK dollar loan financing with a principal limit of RMB 100 million, with a one-month term and an interest rate of one-month HKD HIBOR plus 60 basis points. Citi expressed concerns about its impact on market sentiment. Haidilao dropped 3.02% to HK$9.3 for the day.
Shenzhou International (02313) rose 3.94% to HK$36.4, marking six consecutive days of gains with a cumulative increase of 8.72%.
PetroChina (00857) rose 3.7% to HK$10.22, while CNOOC (00883) gained 0.58% to HK$24.28.
Citi resumed coverage on the Macau gaming sector, forecasting this month's gaming revenue at MOP 25 billion. Galaxy Entertainment (00027) rose 3.54% to HK$32.74, and Sands China (01928) gained 3.35% to HK$11.42.
The top three most actively traded stocks in the Hang Seng Index, China Enterprises Index, and Tech Index were Tencent, Alibaba, and Xiaomi respectively. (ey)
Financial stocks helped Hong Kong stocks rebound. HSBC (00005) rose 1.76% to HK$150.7, returning above HK$150; AIA (01299) gained 1.6% to HK$73.05; Bank of China (Hong Kong) (02388) rose 3.26% to HK$52.25; non-blue-chip Standard Chartered (02888) increased 2.41% to HK$229.8. Additionally, HKEX (00388) rose 1.12% to HK$379.6.
After ChangXin Technology announced a key breakthrough in its 4F^2 DRAM architecture development, market concerns intensified over increased industry competition, dragging down global memory-related stocks. GigaDevice (03986) dropped 4.1% to HK$360.2, CSOP Leverage SK Hynix (07709) plunged 17.98% to HK$26.1, and CSOP Leverage Samsung (07747) fell 13.64% to HK$57.6.
Other AI hardware stocks also declined. Hua Hong Semiconductor (01347) dropped 5.29% to HK$85.1, Lenovo Group (00992) fell 3.83% to HK$31.1, SMIC (00981) slipped 1.16% to HK$55.55; Kingboard Laminates (01888) declined 4.49% to HK$44.7, and Yangtze Optical Fibre & Cable (06869) dropped 3.52% to HK$150.6.
Tech stocks showed mixed performance. Alibaba (09988) fell 0.92%, becoming the main drag, closing at HK$107.2; Tencent (00700) dipped 0.14% to HK$425.2; Meituan (03690) rose 0.7% to HK$72.3; Xiaomi (01810) gained 2.12% to HK$25.04.
Haidilao (06862) provided financial assistance to its founder Zhang Yong, granting a HK dollar loan financing with a principal limit of RMB 100 million, with a one-month term and an interest rate of one-month HKD HIBOR plus 60 basis points. Citi expressed concerns about its impact on market sentiment. Haidilao dropped 3.02% to HK$9.3 for the day.
Shenzhou International (02313) rose 3.94% to HK$36.4, marking six consecutive days of gains with a cumulative increase of 8.72%.
PetroChina (00857) rose 3.7% to HK$10.22, while CNOOC (00883) gained 0.58% to HK$24.28.
Citi resumed coverage on the Macau gaming sector, forecasting this month's gaming revenue at MOP 25 billion. Galaxy Entertainment (00027) rose 3.54% to HK$32.74, and Sands China (01928) gained 3.35% to HK$11.42.
The top three most actively traded stocks in the Hang Seng Index, China Enterprises Index, and Tech Index were Tencent, Alibaba, and Xiaomi respectively. (ey)
