【Hong Kong Stock Market】Middle East War Rattles Asia-Pacific Stocks, Hang Seng Index Down 875 Points at Midday, AIA Falls 7%, HSBC and Standard Chartered Down 4%, BYD and Geely Defy Market Trend and Rise (Continuously Updated)

【Hang Seng Index / Hang Seng / HSIC / Hang Seng / HSI / Hong Kong Stocks / Night Futures / ADR】 The escalation of Middle East war tensions rattles Asia-Pacific markets. The Hang Seng Index opened 488 points lower at 24,789, then continued to fall, losing 875 points by midday to 24,402. Turnover was HKD 192.38 billion. The Tech Index dropped 3.1% to 4,721. The following stocks declined: HSBC (00005) and Standard Chartered (02888) each down 4%, AIA (01299) fell 7%. ATM stocks dropped nearly 2% to over 3%, PetroChina (00857) down 0.9%, CNOOC (00883) eased 0.5% after hitting a high, BYD (01211) rose 0.7% against the trend, and Geely (00175) increased 4%.

US Market updates ongoing, see next page for details.

Financial Daily:

▲ Financial Daily

Market Movements:

【13:42】 Alibaba (09988) fell over 3%, hitting a low of HKD 119.1.

【AI+9988】 Alibaba reportedly launches AI ride-hailing feature allowing complete booking process in one sentence; also rumored to release an important chip product tomorrow.

【13:33】 Hang Seng Index down nearly 915 points, at 24,362, with HKD 220 billion in turnover. Tech Index down 3.4% to 4,707.

【13:28】 China Resources Beer (00291) shares drop 0.5% after earnings, low at HKD 23.66.

【13:27】 Market dips again to the 24,400 level.

【13:01】 Hong Kong stocks fall about 825 points in early afternoon, at 24,453, with HKD 196.2 billion in turnover. Tech Index down nearly 3% to 4,727.

【12:24】 China Resources Beer (291) full-year profit down 29%, but dividend increased; final dividend up 44% to HKD 0.557.

【12:24】 Public transport fare discount plan adjusted to “HKD 2 at half price,” effective April 3.

【12:18】 Kerry Properties (683) FY profit fell 22% to HKD 2 billion; maintains final dividend of HKD 0.95, dividend yield 6.4%.

【12:00】 Hang Seng Index halves the day’s loss, down 875 points to 24,402, with HKD 192.38 billion in turnover. Tech Index down 3.1% to 4,721. HSBC (00005) and Standard Chartered (02888) each down 4%, AIA (01299) down 7%. ATM stocks down nearly 2% to over 3%, PetroChina (00857) down 0.9%, CNOOC (00883) eased 0.5% after hitting a high, BYD (01211) rose 0.7%, Geely (00175) up 4%.

【11:58】【Major Bank Views】 Chinese tech companies increase AI spending; Credit Suisse Private Bank’s Zhao Yingyan: investment may face short-term pain; not recommending full AI position now.

【11:58】【Major Bank Views】 Warren Buffett’s Lu Jing: three reasons internet stocks remain under pressure; Middle East conflict and unclear rate cut path cause short-term liquidity pressure in Hong Kong stocks.

【11:41】 China Hongqiao (01378) drops over 11%, low at HKD 30.1. China Hongqiao’s annual net profit about RMB 22.64 billion, up 1.2%, with a final dividend of HKD 1.65 per share, up 61.8%.

【11:38】 China Development High-Level Forum 2026: Lei Jun says Xiaomi’s R&D investment over the next five years will exceed RMB 200 billion.

【11:16】 Market’s decline widens, once dropping 880 points below 24,400 to a low of 24,396.

【11:05】【Internet Brokerage】 US brokerage Firstrade plans to enter Hong Kong, reportedly hiring ROs and applying for licenses, offering “zero commission.”

【11:04】【Under Rex Rui’s Group】 Rich Industry Trust sells HKD 1.5 billion of Rich Eastern Hotel; Centaline plans to convert to student dorms.

【10:47】 Market continues downward, latest drop over 800 points, Hang Seng at 24,460, down 816, with HKD 143.2 billion in turnover. Tech Index down 2.5% to 4,751.

【10:03】【17】 K11 MUSEA updates luxury brand upgrade plan, over 30% of leasing space renewed; expects double-digit rent increases for related shops.

【10:02】【1099 Earnings】 China National Pharmaceutical (1099) profits up 1.5% last year; final dividend HKD 0.69.

【09:58】 Hong Kong stocks early session down 700 points, at 24,576, with HKD 85.4 billion in turnover. Tech Index down 1.9% to 4,779. AIA (01299) down nearly 6%, HSBC (00005) down nearly 4%, BYD (01211) up over 2%, Geely (00175) up over 4%.

【09:52】Towngas (00003) after earnings down 3%, low at HKD 7.01.

【Towngas 003 Earnings】 China Towngas: price increase pressure this year, specific increase uncertain; FY dividend maintained at HKD 0.23.

【09:47】Faster Innovation (03355) debut at HKD 56, up 34.6% from IPO price of HKD 41.6, profit HKD 1,440 per lot of 100 shares. GuoNian Technology (02701) opening at HKD 14.3, up 32.4%, profit HKD 700 per lot of 200 shares.

【IPO】Faster Innovation (3355) debut up 34.6%, profit HKD 1,440 per lot, oversubscribed 1578.7 times; GuoNian Technology (2701) up 32.4%, profit HKD 700 per lot, oversubscribed 130.8 times.

【09:44】Chifeng Gold (06693) resumes trading, early drop over 20%, low at HKD 31.2; Zijin (02899) down 4%, Zijin Gold International (02259), Zhaojin (01818) down 2%, Lingbao Gold (03330) down nearly 9%.

【Gold Price Trend】 Spot gold once fell near USD 4,300; local gold price per tael down HKD 1,000 from high, back by HKD 10,000 from peak.

【2899 Earnings】 Zijin Mining (02899) net profit up 62% last year, hitting a new high; final dividend HKD 0.38 per share.

【2259 Earnings】 Zijin Gold International’s first full-year results since listing, net profit surged 2.3 times; final dividend HKD 1.5.

【09:22】 Hang Seng Index opens 488 points lower at 24,789, with HKD 8.42 billion in turnover. Tech Index down 1.9% to 4,780. HSBC (00005) and AIA (01299) each down over 3%, Alibaba (09988) down over 2%, Tencent (00700) down 2%.

【09:08】 Hang Seng futures down about 556 points, at 24,694.

【08:59】【66.93】 Chifeng Gold acquired by Zijin, becomes largest single shareholder.

【07:38】【IPO】 Copper Master (664) raises up to HKD 500 million, cultural creative copper products, licensed IPs include Nezha, Transformers, GOT, entry fee HKD 6,869.

【07:58】【IPO】 Fourier (3625) raises up to HKD 600 million, audio amplifier chips and haptic feedback chips, entry fee HKD 5,050.

【07:45】【Morning Brief】 US and Iran threaten to strike civilian infrastructure; Xiaomi’s earnings on Tuesday, memory stocks affected.

【07:45】 US rate hike expectations rise, 10-year US Treasury yield jumps to 4.38%; night futures close down 525 points, at 24,725; China concept stocks fall 2.9%, at 6,742; HSBC ADR down nearly 3% in Hong Kong.

| ADR | HKD Equivalent | Change from HK Market Close | | Meituan ADR | 77.35 | -2.27% | | Tencent ADR | 497.42 | -2.08% | | HSBC ADR | 120.56 | -3.17% | | Alibaba US Stock | 119.86 | -3.10% |

More Hong Kong ADRs and Chinese concept stocks quotes:

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【07:30】 Iran conflict intensifies. US President Trump on Friday said, “I don’t want a ceasefire.” Energy prices fluctuate; Dow drops over 600 points at one point; US 10-year Treasury yield hits six-month high, market now expects a 40% chance of rate hike in September. Dow closes down 443 points at 45,577; S&P 500 drops 1.51%; Nasdaq falls 2.01%.

See US market close for details.