【Hong Kong Stock Market】Hang Seng Index rises by 100 points but fails to stabilize above 25,000; Meituan's stock price temporarily turns up 3%, BYD's performance before earnings is positive; Pop Mart stabilizes after decline (updating continuously)

[Hang Seng Index/恒生指数/HSI/Hang Seng Index/HK Stocks/Night Futures/ADR] Hong Kong stocks open lower in the first half of the session but rebound by more than 100 points. The Hang Seng Index opened 87 points lower, at 24,768 points. It then reversed and moved higher: in the first half of the session, the Hang Seng Index rose 137 points, to 24,993 points. It was just one step away from the 25,000 mark. Turnover was HK$135.78 billion. The Tech Index rose 1%, to 4,811 points. Meituan （03690） Up more than 1% after earnings. BYD （01211） Up more than 4% before earnings. Pop Mart （09992） Spent nearly HK$600 million on share buybacks, with the share price rebounding 0.9%.

U.S. stock market updates are constantly being posted—see the next page for details

Financial News Diary:

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Intraday market trend:

【15:18】Meituan （03690） Tailed off late in the session, turning down 0.3%.

【14:00】The Hang Seng Index’s rally eased, with the latest gain narrowing to about 145 points. It traded in a tight range around the 25,000 level, after having peaked earlier at 25,095 points in the afternoon.

【13:14】The market’s overall gain widened to 209 points, to 25,065 points.

【13:13】LIO AUTO （09863） Up nearly 7%, hitting 49.76 yuan.

【13:01】In the early afternoon, Hong Kong stocks were up about 166 points, to 25,023 points, regaining the 25,000 level. Turnover was HK$139.7 billion. The Tech Index rose 1.1%, to 4,814 points.

【12:54】【Insurance stocks analysis】Ping An rose 0.7% after results; China Life steadied after a sharp drop the previous day　Analysis: Does investment losses drag down results, and among the two insurance stocks, which one is doing better?

【12:46】【267 earnings】CITIC Shares made 0.9% more profit for the full year　Final dividend increased 6.9% to RMB 0.385

【12:23】【Mobile gaming stocks 2400 earnings】XD Inc. last year’s profit grew 89% to RMB 1.54 billion　Cancelled dividend distribution　Game business revenue up 10.5%

【12:23】【Pharmaceutical stocks earnings】Shiyao Pharma last year’s net profit plunged 56%　Final dividend down 68% to 3 cents

【12:00】The Hang Seng Index rebounded 137 points in the first half, to 24,993 points, just one step away from 25,000. Turnover was HK$135.78 billion. The Tech Index rose 1%, to 4,811 points. Meituan （03690） Up more than 1% after earnings. BYD （01211） Up more than 4% before earnings. Pop Mart （09992） Spent nearly HK$600 million on share buybacks, with the share price rebounding 0.9%.

【11:57】【883 analysis】After China Oilfield reporting, it fell more than 1%　Lyons raised its target price　Analysis: “Its biggest advantage is its drilling extraction costs are very sharp,” and with the current oil price of $100, profits definitely won’t be bad

【11:52】【Resource stocks earnings】Nanshan Aluminum International’s profit grew 1% last year 　Aluminum oxide prices continue to fall; business in the first half under pressure

【11:40】The market’s overall gain expanded to 100 points, hitting 24,975 points, as it tested the recovery of the 25,000 level.

【11:23】Before the lunch close in Hong Kong stocks, the Hang Seng Index was up about 43 points, touching 24,900 points.

【11:17】【3690 analysis】Meituan rose about 2% after earnings　Citigroup upgraded its rating and target price　Analysis: At the current level, it’s “quite cheap,” but it’s expected that the business won’t be “particularly performing well” in the next two to three quarters

【10:58】BYD （01211） Up more than 4%, hitting 107.7 yuan.

【10:47】Meituan （03690） Turned up 3%, hitting 90.7 yuan. It helped the broader market recover by about 80 points, to 24,935 points, with turnover of HK$98.9 billion. The Tech Index rose 0.9%, to 4,805 points.

【10:42】【9992】Pop Mart’s share price stops the slide and briefly rebounds 4%　Spent nearly HK$600 million on buybacks　After the results were released, it cumulatively fell three-tenths over two days

【10:24】MINIMAX （00100） Down 6%, low of 920 yuan. Zhipu （02513） Down half a percent, low of 641.5 yuan.

【10:15】BYD （01211）will announce its earnings today. Its share price did well before the release, with the latest up more than 3%, hitting 107.5 yuan.

【10:12】Sinno Biopharma （01801） Up nearly 7% after earnings, hitting 85.55 yuan.

【1801 earnings】Sinno Biopharma achieved profits for the first time last year　Made RMB 814 million　Maintain no interim dividend

【10:09】Zijin （02899） Up 0.4%. Zijin Mining Group International （02259） Up more than 2%. Zhaojin （01818） , Shandong Gold （01787） Up more than 1%. Lingbao Gold （03330） Up nearly 3%.

【Gold price trend】Gold prices recoup part of their losses; Trump again postpones the deadline for reaching an agreement with Iran 　The People’s Bank of Turkey’s selloff of more than $8 billion worth of gold increases downward pressure on gold prices

【10:09】Pony.ai （02026） Plunged more than 13% after earnings, breaking down to a low of 73.2 yuan.

【2026 earnings】Pony.ai’s adjusted loss last year was $174 million　Expanded nearly 32% year over year　The target by end of this year for an unmanned taxi fleet expands to 3,000 units

【09:53】After the opening of Hong Kong stocks, they briefly turned higher, but the rebound strength was insufficient. The latest move was another drop of more than 100 points, to 24,725 points, down 130 points. Turnover was HK$50.9 billion. The Tech Index fell 0.7%, to 4,727 points.

【09:22】The Hang Seng Index continues to open down 87 points, opening at 24,768 points. Turnover was HK$3.35 billion. The Tech Index fell 0.4%, to 4,740 points. Meituan （03690） Down 0.6% after earnings. AIA （01299） Down more than 3%. Pop Mart （09992） Share price stabilizes and rebounds by more than 1%.

【3690 earnings】Meituan’s Q4 adjusted loss was RMB 15.08 billion, worse than expected　Wang Xing: The loss per delivery for takeaway food improves quarter over quarter in the first quarter, and focuses on powering up an “AI super entry,” not a “Token factory” (Second edition)

【09:03】Hang Seng Index futures night session fell about 94 points, to 24,723 points.

【07:50】【New stock IPO】Tong Ren Tang Health 2667 delays issuance and listing plan, considering multiple factors including the current market conditions 　Will refund application funds

【07:45】【Morning Market Highlights】Meituan’s Q4 adjusted loss of RMB 15.08 billion was worse than expected｜Hong Kong Global Financial Centres Index ranks third globally, first in Asia-Pacific｜Cathay Pacific again adds fuel surcharges

【07:45】Based on what Trump said, there has been progress in the Iran situation. The night futures fell 8 points, closing at 24,782 points. The China concept stock index fell 2.6%, closing at 6,721 points. After Meituan’s earnings, its ADR share price was briefly doing well, up as much as 3.8% versus Hong Kong, but under the influence of macro conditions, it turned down at the close, closing 1.6% lower than its Hong Kong closing price.

| ADR | Converted HKD | Change vs HK closing | | Meituan ADR | 85.29 | -1.62% | | Tencent ADR | 490.94 | -0.94% | | HSBC ADR | 124.62 | -0.14% | | Alibaba U.S. shares | 122.67 | -0.27% |

More Hong Kong stock ADR and China concept stock quotes:

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【07:30】Concerns about inflation persist. The Dow closed down 469 points, at 45,960 points. The S&P 500 fell 1.7% to 6,477 points. The Nasdaq fell 2.4%, closing at 21,408 points.

Live look at the U.S. stock market close:

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Hong Kong stocks’ market conditions from the previous day: for details, see：【Hong Kong stocks night futures + ADR + Northbound funds】Night futures closed down 8 points; Meituan ADR was down 2% less than Hong Kong

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