HK Stock Close | Three Major Indices Adjust Collectively, Coal Stocks Such as Yanzhou Coal Energy Rise Against the Trend Amid Geopolitical Conflicts

Hong Kong stocks declined across the board today. At the close, the Hang Seng Index fell 0.70% to 25,716.76 points; the Technology Index dropped 0.54% to 5,027.64 points; and the H-shares Index decreased 0.06% to 8,699.55 points.

Note: Performance of the Hang Seng Index

Note: Performance of the Technology Index

Market Overview

From the market scene, coal and wind power stocks surged, while technology and pharmaceutical stocks generally pulled back.

Geopolitical conflicts boost coal stocks Yanzhou Energy up over 8%

By the close, South South Resources (01229.HK) rose 12.20%, Yankuang Energy (01171.HK) increased 8.26%, and Yanzhou Coal Australia (03668.HK) gained 5.15%.

In related news, escalating US-Iran tensions pushed up international oil and gas prices, triggering significant energy substitution effects. According to a research report from Orient Securities, the transmission mainly occurs in two ways: rising fuel costs increase shipping expenses; soaring natural gas prices prompt many countries to restart coal-fired power plants to replace expensive gas sources, potentially leading to an off-season rise in coal prices.

Overseas news boosts wind power stocks Datang New Energy up over 8%

By the close, Datang New Energy (01798.HK) rose 8.21%, Goldwind Technology (02208.HK) increased 7.18%, and Longyuan Power (00916.HK) gained 2.93%.

According to an announcement on the UK Department for Business and Trade’s official website on March 10 local time, the UK will eliminate 33 wind turbine component import tariffs starting April 1, with core parts like blades and cables seeing tariffs reduced from 6% and 2% to 0%.

Notably, the Ningxia Zhongwei Development and Reform Commission announced on March 10 the selection results for the second phase of the green energy data center project in the big data computing industry park, with China Datang Group New Energy Co., Ltd. winning the bid, supporting an installed capacity of 2.6 million kW.

Overseas positive news struggles to offset short-term sentiment pressure on electrical equipment stocks Wèichái Power drops nearly 5%

By the close, Wèichái Power (02338.HK) fell 4.82%, Dongfang Electric (01072.HK) declined 3.02%, and Harbin Electric (01133.HK) dropped 2.32%.

In related news, despite Google, Tesla, and six other companies forming the “Power Grid Utilization Alliance” to improve US grid efficiency, Everbright Securities pointed out that rising demand for grid reliability will benefit gas turbines, energy storage, and electrical equipment sectors. However, Hong Kong stocks related to these areas remain under pressure today, possibly reflecting market cautiousness regarding domestic order flow and earnings realization timing.

Pharmaceutical stocks experience short-term volatility but maintain long-term investment logic Zhonghui Bio drops over 13%

By the close, Zhonghui Bio-B (02627.HK) fell 13.17%, Yiming Kangke-B (01541.HK) declined 6.33%, and Shengnuo Medicine-B (02257.HK) dropped 4.79%.

Amid the overall correction in pharma stocks, analysts suggest focusing on globally competitive “integrated” platform leaders with diverse customer bases, comprehensive industry chain layouts, and benefiting from rising primate research animal prices, weight-loss drugs, and cutting-edge preclinical CRO projects like small nucleic acid drugs.

Safety and compliance concerns trigger AI application stock adjustments Zhisp (Zhitu) drops nearly 9%

By the close, Zhisp (02513.HK) fell 8.86%, Wuyi Vision (06651.HK) declined 6.61%, and MINIMAX-WP (00100.HK) dropped 5%.

Open-source AI application OpenClaw recently sparked attention in mainland China, but regulators warned of potential safety risks. The Hong Kong Digital Policy Office clarified that government deployment of software must strictly follow risk assessment procedures, covering needs, technical features, historical records, and security compliance, and adhere to government cybersecurity guidelines. This cautious policy stance has heightened market concerns about the commercialization pathways and regulatory boundaries of AI applications.

Individual stock movements

Shandong Molong temporarily surged over 17% as geopolitical risks heighten energy supply chain attention

Shandong Molong (00568.HK) rose 2.36%, with an intraday increase of over 17%. News indicates Iran reaffirmed control over the Strait of Hormuz, while US statements remain vague, reducing conflict resolution expectations. Although the International Energy Agency announced that 32 member countries will jointly release 400 million barrels from strategic reserves, details on the release pace and allocation remain unclear, raising doubts about actual market impact. The energy supply chain security theme attracted investor attention.

Giant Group (HuiLiang Technology) up over 8% on strong earnings confirming business resilience

Giant Group (01860.HK) increased 8.10% to HKD 14.94. The company recently released its 2023 financial report, showing total revenue of USD 2.047 billion, up 35.7% year-over-year; adjusted EBITDA was USD 191 million, up 38.1%.