【Hong Kong Stock Market】 China's GDP growth target for this year is 4.5% to 5%. The Hang Seng Index rose 210 points at midday. HSBC increased by 3%, AIA rose nearly 4%, Alibaba and Meituan fell 1% (updating continuously).

【Hang Seng Index / Hang Seng Index / HS/HSI / Hong Kong Stocks / Night Futures / ADR】Hong Kong stocks rebounded about 200 points in the half-day session, with the Hang Seng Index opening 334 points higher at 25,583, reaching a high of nearly 500 points earlier at 25,736. The gains narrowed later due to tech stocks dragging, with the Hang Seng Index up 210 points at 25,459, with a turnover of HKD 164.19 billion. The Tech Index turned slightly lower, down less than 1 point at 4,829. Financial stocks performed well, with HSBC (00005) and Standard Chartered (02888) rising 3%, AIA (01299) up nearly 4%. Alibaba (09988) and Meituan (03690) fell 1% against the trend, while JD.com (09618) declined 0.7% before earnings.

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Financial Daily:

▲ Financial Daily

Market Overview:

【12:00】 Hang Seng Index up 210 points in the half-day session, at 25,459, with a turnover of HKD 164.19 billion. The Tech Index turned down slightly, down less than 1 point at 4,829. Financial stocks performed well, with HSBC (00005) and Standard Chartered (02888) up 3%, AIA (01299) up nearly 4%. Alibaba (09988) and Meituan (03690) fell 1%, JD.com (09618) rose 1% before earnings, and JD Health (06618) increased over 3%.

【11:53】 Tech company DuoNiu (01961) shares surged over 60%, breaking previous highs to reach HKD 0.59. DuoNiu plans to issue up to 147 million new shares, raising up to HKD 51.4 million, at a placement price of HKD 0.35 per share, a 14.8% premium over the previous close of HKD 0.305. About 40% of the proceeds will be used for general operational expenses, 30% for R&D of gaming and AI products, and 30% for diversification into other gaming sectors.

【11:26】 Hong Kong stocks rose about 342 points before noon, at 25,592, after reaching a high of 25,736 earlier, up to 487 points.

【11:22】【Hong Kong Market】 Rebound with nearly 500 points increase — Analysis: Short-term rebound unlikely to signal a trend change; Mainland China’s economic growth target at slowest in 30 years, market already expected

【11:07】【AI+9988】 Alibaba’s chief scientist Lin Junyang suddenly announced resignation. Alibaba responded: decision approved resignation, will establish a foundational model support team.

【10:41】 Cathay Pacific (00293) rebounded nearly 4%, reaching HKD 13.26.

【10:37】 New World Development (00017) rose nearly 4%, reaching HKD 9.87. Other property stocks also gained: Henderson Land (00012) up over 2%, Sun Hung Kai Properties (00016) up over 3%, Sino Land (00083) and CK Asset (01113) up over 1%.

【10:28】 Alibaba (09988) slightly weaker, down 0.7%, at HKD 128.4.

【10:22】 Two Sessions — China’s 2026 GDP growth target set at 4.5% to 5%, inflation rate at 2%. Plans to issue 1.3 trillion RMB in ultra-long-term government bonds to support “Two New” initiatives and other projects.

【10:21】 Market rose about 445 points early, at 25,694, with HKD 98.9 billion in turnover.

【10:12】 Uni-President (00220) rose over 1% after earnings, reaching HKD 8.14.

【220 Earnings】 Uni-President’s annual profit increased 10.9% to RMB 2.05 billion, with a dividend of HKD 0.4747, up nearly 11%.

【10:10】 The three major oil companies declined against the trend: PetroChina (00857) down 0.5%, CNOOC (00883) down nearly 3%, Sinopec (00386) down 0.6%.

【10:08】【IPO】 Securities regulator reportedly strengthening review of IPO underwriters’ staff.

【09:42】 Bitcoin rebounded to around USD 72,000, with Boyaa Interactive (00434) up over 11%, earlier reaching HKD 3.09.

【09:39】 The Fourth Session of the 14th National People’s Congress opened. Premier Li Qiang delivered the government work report. The main development target for China this year is 4.5% to 5%, with efforts to achieve better results.

【09:22】 Hong Kong stocks rebounded, Hang Seng Index opened 334 points higher at 25,583, with HKD 5.71 billion in turnover. The Tech Index rose 1.6% to 4,907. HSBC (00005) up 3%, CATL (03750) up half a percent, and JD.com (09618) up 1% before earnings, JD Health (06618) up over 3%.

【09:04】 Hang Seng futures up about 412 points at 25,648.

【07:45】【Morning Brief】 White House: Complete control of Iranian airspace in the coming hours | How much would oil prices rise if the Strait of Hormuz is blocked for weeks? | Goldman Sachs’ Sud Wei: Market reaction to Middle East conflict remains surprisingly mild.

【07:45】 Market news fluctuates, US dollar index down 0.2% to 98.82, but US long-term bond yields remain high at 4.1%. Night futures close up 402 points at 25,534, China concept stocks up 0.8%, closing at 7,013. HSBC ADR up 4% in Hong Kong stocks.

More Hong Kong ADRs and Chinese concept stock quotes:

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【07:30】 Market risk sentiment slightly cooled, Dow Jones futures rose by up to 352 points during the session, closing up 238 points at 48,739; S&P 500 at 6,869, up 0.78%; Nasdaq at 22,807, up 1.29%.

See US stocks closing:

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Hong Kong stocks yesterday, for details see: 【Hong Kong Stocks Night Futures + ADR + Northbound Funds】 Night futures close up 402 points, HSBC ADR in Hong Kong stocks up 4%.