HKTDC Economic News Service 3rd report: Iran and the U.S. rarely simultaneously expressed willingness to negotiate. Iranian President Pezeshkian stated that the Supreme Leader has granted the government greater authority to advance peace talks. U.S. President Trump, in a media interview, also indicated he is in no hurry to decide whether to resume attacks on Iran, causing oil prices to plunge about 7%. Meanwhile, mainland China rolled out a series of market rescue measures, including launching securities, fund, and insurance company swap facilitation operations, announcing that the policy for stock buybacks and增持 loans will shift from temporary arrangements to long-term institutional arrangements, and CSRC allowing listed companies to conduct market-supportive buybacks when share prices fall below issuance levels. Under the combined positive impact, northbound funds finally ended capital outflows in the morning session, with net buying reaching nearly 12.5 billion yuan. Domestic insurers and large consumer sectors led the gains. The Hang Seng Index closed the morning session at 23,515, up 121 points or 0.5%, with main board turnover nearing 115.3 billion yuan. The Hang Seng China Enterprises Index stood at 7,932, up 26 points or 0.3%. The Hang Seng Tech Index reached 3,876, up 36 points or 1%.
Mainland's series of market rescue measures continued to drive domestic insurance stocks higher. Ping An (02318) rose 2.29% to 51.45 yuan, Life (02628) gained 1.94% to 25.28 yuan, P&C (02328) advanced 1.33% to 16.75 yuan, and New China Insurance (01336) climbed 1.55% to 40.52 yuan. However, Chinese broker stocks showed mixed performance. Guotai Haitong (02611) fell 1.48% to 13.27 yuan, CITIC Securities (06030) rose 0.76% to 21.18 yuan, CITIC Construction (06066) gained 0.86% to 10.53 yuan, China Galaxy (06881) declined 0.5% to 6.925 yuan, and HTSC (06886) dropped 0.34% to 14.82 yuan.
Mainland financial authorities released expectations of easing measures, limited to the stock market, but still boosted large consumer stocks. Li Ning (02331) surged 3.53% to 14.36 yuan, Anta Sports (02020) rose 3.18% to 77.8 yuan, CR Beer (00291) gained 2.86% to 20.48 yuan, Pop Mart (09992) advanced 2.78% to 140.3 yuan. Haidilao (06862) founder Zhang Yong repaid company loans ahead of schedule, closing the morning session up 6.16% at 9.91 yuan, leading the blue chips.
Macau's gaming revenue data was strong, earning praise from UBS. Galaxy Entertainment (00027) rose 4.27% to 34.68 yuan, Sands (01928) gained 3% to 11.34 yuan, MGM (02282) advanced 3.25% to 10 yuan, and Wynn Macau (01128) rose 2.16% to 4.73 yuan.
For tech and internet stocks, Xiaomi (01810) rose 1.92% to 28.64 yuan, Meituan (03690) gained 1.78% to 74.35 yuan, Tencent (00700) advanced 1.58% to 398.4 yuan, Alibaba (09988) rose 0.85% to 100.3 yuan, while Baidu (09888) fell 0.4% to 75.35 yuan.
Overseas semiconductor stocks continued to weaken, dragging down related Hong Kong stocks. Lenovo Group (00992) fell 5.44% to 19.8 yuan, Hua Hong (01347) dropped 5.36% to 59.15 yuan, SMIC (00981) declined 2.48% to 42.54 yuan, Yangtze Optical Fibre & Cable (06869) fell 4.94% to 101.9 yuan, and Kingboard CCL (01888) plunged 6.17% to 34.04 yuan.
The top three trading stocks in Hang Seng Index, China Enterprises Index, and Tech Index were Tencent, Xiaomi, and Alibaba respectively. (ey)
Mainland's series of market rescue measures continued to drive domestic insurance stocks higher. Ping An (02318) rose 2.29% to 51.45 yuan, Life (02628) gained 1.94% to 25.28 yuan, P&C (02328) advanced 1.33% to 16.75 yuan, and New China Insurance (01336) climbed 1.55% to 40.52 yuan. However, Chinese broker stocks showed mixed performance. Guotai Haitong (02611) fell 1.48% to 13.27 yuan, CITIC Securities (06030) rose 0.76% to 21.18 yuan, CITIC Construction (06066) gained 0.86% to 10.53 yuan, China Galaxy (06881) declined 0.5% to 6.925 yuan, and HTSC (06886) dropped 0.34% to 14.82 yuan.
Mainland financial authorities released expectations of easing measures, limited to the stock market, but still boosted large consumer stocks. Li Ning (02331) surged 3.53% to 14.36 yuan, Anta Sports (02020) rose 3.18% to 77.8 yuan, CR Beer (00291) gained 2.86% to 20.48 yuan, Pop Mart (09992) advanced 2.78% to 140.3 yuan. Haidilao (06862) founder Zhang Yong repaid company loans ahead of schedule, closing the morning session up 6.16% at 9.91 yuan, leading the blue chips.
Macau's gaming revenue data was strong, earning praise from UBS. Galaxy Entertainment (00027) rose 4.27% to 34.68 yuan, Sands (01928) gained 3% to 11.34 yuan, MGM (02282) advanced 3.25% to 10 yuan, and Wynn Macau (01128) rose 2.16% to 4.73 yuan.
For tech and internet stocks, Xiaomi (01810) rose 1.92% to 28.64 yuan, Meituan (03690) gained 1.78% to 74.35 yuan, Tencent (00700) advanced 1.58% to 398.4 yuan, Alibaba (09988) rose 0.85% to 100.3 yuan, while Baidu (09888) fell 0.4% to 75.35 yuan.
Overseas semiconductor stocks continued to weaken, dragging down related Hong Kong stocks. Lenovo Group (00992) fell 5.44% to 19.8 yuan, Hua Hong (01347) dropped 5.36% to 59.15 yuan, SMIC (00981) declined 2.48% to 42.54 yuan, Yangtze Optical Fibre & Cable (06869) fell 4.94% to 101.9 yuan, and Kingboard CCL (01888) plunged 6.17% to 34.04 yuan.
The top three trading stocks in Hang Seng Index, China Enterprises Index, and Tech Index were Tencent, Xiaomi, and Alibaba respectively. (ey)
