Hong Kong Stock Midday Review: Hang Seng Index up 0.04%, Tech Index down 0.48%, Tech and Internet stocks and catering stocks weaken, nuclear power stocks broadly rise, Hai Di Lao drops over 10%

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March 25 News: The three major Hong Kong stock indices opened higher and then declined. At midday, the Hang Seng Index rose 0.04%, closing at 25,072.75 points. The Hang Seng Tech Index fell 0.48%, and the H-shares Index declined 0.19%. In the market, tech stocks showed mixed performance: JD.com rose over 1%, Xiaomi fell over 3%, Baidu dropped over 2%, Tencent, Bilibili, and Kuaishou each fell over 1%. Nuclear power stocks led gains, with China National Nuclear Corporation International up over 8%. Airlines continued to rebound, with China Eastern Airlines rising over 2%. Restaurant stocks declined sharply, with Haidilao dropping over 10%.

Nuclear power stocks led gains, with China National Nuclear Corporation International up over 8%. Microsoft and NVIDIA announced a joint initiative to promote the “AI for Nuclear” program, aiming to accelerate the construction and operation of nuclear power plants using AI tools to meet the huge energy demands driven by the rapid expansion of the AI industry. Microsoft Vice Chairman and President Brad Smith publicly announced this cooperation at the CERAWeek energy conference on Tuesday. He stated: “The two companies have truly created a solution that is expected to play an important role in promoting the expansion of nuclear power construction.”

Airline stocks continued to rebound, with China Eastern Airlines rising over 2%. According to data from TravelSky, as of the 24th, bookings for domestic flights during the Qingming holiday in 2026 exceeded 1.9 million tickets, an increase of about 20% year-over-year; bookings for inbound and outbound flights exceeded 590,000 tickets, up about 12% year-over-year. Among them, bookings for flights to Beijing exceeded 140,000, an increase of about 10% year-over-year.

Restaurant stocks declined sharply, with Haidilao dropping over 10%. In 2025, Haidilao’s total revenue reached 43.225 billion yuan, a 1.1% increase year-over-year, while net profit decreased 14.0% year-over-year to 4.042 billion yuan. The core issue behind the profit decline is the continued decrease in table turnover rate, with the overall table turnover rate of self-operated Haidilao restaurants at 3.9 times per day in 2025.

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Editor: Hao Xinyu

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