[ET Net News Agency, 13 March 2026] Iran's Supreme Leader-designate Mojtaba issued his first official statement on Thu, 12 Apr, saying Iran will not give up on revenge, will continue to blockade the Strait of Hormuz, and will open new fronts if necessary. Overnight, the three major US indices fell more than 1%. The HSI opened lower by over 100 points this morning in line with external markets; its early slide widened to 241 points before tech stocks rallied to trim losses. At midday, the HSI closed at 25,593, down 123 points or 0.5%, with main board turnover near HKD 126.1 billion. The Hang Seng China Enterprises Index stood at 8,698, down 1 point or less than 0.1%. The Hang Seng Tech Index was at 5,007, down 20 points or 0.4%.
"Kwok Ka Yiu: US stocks remain under pressure, Hong Kong stocks show stronger resilience"
The Middle East conflict has not ended as quickly as US President Trump claimed. Navigation in the Strait of Hormuz remains unsecured, and international oil prices have broken above 100 US dollars per barrel, roiling global markets. However, the HSI's decline has been relatively small. Kwok Ka Yiu, the Director of Business Development at Harbour Family Office, told ET Net News Agency that Hong Kong stocks have shown stronger resilience, supported by defensive names such as oil and telecom shares. He added that southbound flows have been increasing holdings in Hong Kong stocks during market declines. Beyond trading ETFs, they have also bought various individual names, providing longer-term support to the market. As for the US market outlook, it still depends on oil prices. Elevated oil prices would clearly lift inflation, making rate cuts less likely and keeping US stocks under pressure.
"Li Auto: Technical support remains, but the reward is unattractive"
Li Auto (02015) posted a disappointing fourth quarter, with adjusted profit plunging 93.5%. Full-year revenue fell 22%, and deliveries also dropped by over 31%. First-quarter deliveries are expected to decline by 3% to 8.5%. Chairman and CEO Li Xiang said that after the company's 2025 adjustments, the group has seen positive changes in many areas, and added that 2026 will usher in a key product cycle. The new Li Auto L9, due in the second quarter, will feature comprehensive upgrades in the powertrain, intelligent driving, and chassis technologies.
Kwok said the Mainland China auto market environment is currently weak. After losing multiple official subsidies and policy support, volumes are hard to lift. Due to its own strategic stance, Li Auto is unwilling to expand into the mass market; amid consumption downgrading, it is harder for mid to high-end models to expand market share.
Li Auto opened down 2% this morning. Kwok noted the share price base looks relatively stable, but any rebound still depends on whether future deliveries and gross margin improve. He also advised against new purchases at present. For existing holders, he suggested waiting until the price reclaims above HKD 70 before considering loosening positions.
"Kwok Ka Yiu: US stocks remain under pressure, Hong Kong stocks show stronger resilience"
The Middle East conflict has not ended as quickly as US President Trump claimed. Navigation in the Strait of Hormuz remains unsecured, and international oil prices have broken above 100 US dollars per barrel, roiling global markets. However, the HSI's decline has been relatively small. Kwok Ka Yiu, the Director of Business Development at Harbour Family Office, told ET Net News Agency that Hong Kong stocks have shown stronger resilience, supported by defensive names such as oil and telecom shares. He added that southbound flows have been increasing holdings in Hong Kong stocks during market declines. Beyond trading ETFs, they have also bought various individual names, providing longer-term support to the market. As for the US market outlook, it still depends on oil prices. Elevated oil prices would clearly lift inflation, making rate cuts less likely and keeping US stocks under pressure.
"Li Auto: Technical support remains, but the reward is unattractive"
Li Auto (02015) posted a disappointing fourth quarter, with adjusted profit plunging 93.5%. Full-year revenue fell 22%, and deliveries also dropped by over 31%. First-quarter deliveries are expected to decline by 3% to 8.5%. Chairman and CEO Li Xiang said that after the company's 2025 adjustments, the group has seen positive changes in many areas, and added that 2026 will usher in a key product cycle. The new Li Auto L9, due in the second quarter, will feature comprehensive upgrades in the powertrain, intelligent driving, and chassis technologies.
Kwok said the Mainland China auto market environment is currently weak. After losing multiple official subsidies and policy support, volumes are hard to lift. Due to its own strategic stance, Li Auto is unwilling to expand into the mass market; amid consumption downgrading, it is harder for mid to high-end models to expand market share.
Li Auto opened down 2% this morning. Kwok noted the share price base looks relatively stable, but any rebound still depends on whether future deliveries and gross margin improve. He also advised against new purchases at present. For existing holders, he suggested waiting until the price reclaims above HKD 70 before considering loosening positions.