【Hang Seng Index Futures + Northbound Capital】Northbound Capital Made Large-Scale Purchases of 22.3 Billion on Wednesday; Major Players Swept Up Yinfu Funds, Hang Seng ETF, Bubble Mart, and Shorted CNOOC and Tencent; Hang Seng Index Futures Fell 92 Points (Continuously Updated)

【Hang Seng Index / Hang Seng / HSIC / Hang Seng / HSI / Hong Kong Stocks / Night Futures / ADR】 Northbound funds absorbed HKD 22.32 billion on Wednesday, with major funds buying into the Full Goal Fund (02800), recording a net inflow of HKD 11.38 billion for the day. The Hang Seng China Index ETF (02828) also attracted HKD 3.4 billion. Bubble Mart (09992), which plunged over 20% on Wednesday, saw a net inflow of HKD 2.31 billion. In contrast, China National Offshore Oil Corporation (00883) and Tencent (00700) recorded net outflows of HKD 1.06 billion and HKD 0.62 billion respectively.

Hang Seng Night Futures fell 78 points to 25,292 points.

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The Hang Seng Index fluctuated, rising 272 points. After Bubble Mart’s earnings report, it was heavily sold off, dropping 22%. Meituan (03690) surged nearly 14% on hopes that the delivery war has ended.

Hong Kong stocks fluctuated, rising over 200 points. Signs of easing in Middle East conflicts supported the market. The Hang Seng Index opened higher by 216 points at 25,280, reaching a high of 25,390 after opening, then briefly turned lower in the afternoon. The index closed up 272 points at 25,335, with a turnover of HKD 350.93 billion. The Tech Index rose 1.9% to 4,922 points. Bubble Mart (09992) plunged 22% after earnings, while Meituan (03690) gained nearly 14%, and Alibaba (09988) rose over 4%.

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The US stock market updates continuously, see next page for details.

Financial Daily:

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Market Trends:

【17:37】【Gold Price Trend】Goldman Sachs maintains year-end gold forecast of USD 5,400 per ounce, supported by central bank gold purchases.

【17:31】【1024 Earnings】Kuaishou’s adjusted profit rose 16.5% last year, with a final dividend of HKD 0.69.

【17:24】【3888 Earnings】Kingsoft Software’s profit increased 29% to HKD 2 billion, with a 13% cut in final dividend to HKD 0.13.

【17:17】【Paperless Securities Trading】USM to be implemented within the year. HKEX, SFC, and Treasury Department explain advantages and benefits for investors.

【17:09】【Mobile Gaming Stock 799 Earnings】IGG’s full-year net profit fell less than 0.1%, with total dividends of HKD 0.544.

【17:00】Green Tea Group’s 2025 earnings announced: resilient same-store sales and new store optimization drive growth, leading the Chinese chain restaurant sector.

【16:59】【TVB (511)】Turned profitable last year with HKD 59 million net profit, no dividend. Expect moderate growth in advertising revenue this year. Suggest renaming to “Wireless Group.”

【16:12】Hang Seng Index up 272 points, closing at 25,335, with HKD 350.93 billion in turnover. Bubble Mart (09992) plunged 22% after earnings, Meituan (03690) rose nearly 14%, Alibaba (09988) up over 4%.

【16:00】Hang Seng U-Share futures up 219 points at 25,283, with HKD 339.32 billion in turnover.

【15:13】Hong Kong stocks rose about 150 points to 25,214. Meituan (03690) increased over 12%, reaching HKD 89.

【14:56】【1833 Earnings】Ping An Good Doctor: AI contributed 4.5% to gross profit; “AI+” becomes core growth driver; plans increased investment this year.

【14:26】【9992 Earnings】Bubble Mart: expects at least 20% growth this year; plans to launch LABUBU 4.0 series in the second half (ongoing updates).

【14:10】Bubble Mart (09992) fell 20%, low of HKD 172.6.

【13:57】Market rose about 300 points in the afternoon, but gains narrowed to around 130 points.

【13:57】【Delivery War】Meituan’s stock surged 10% in the afternoon, JD.com and Alibaba up 5%. Market regulator reposted article: “The delivery war should end.”

【13:39】Meituan (03690), which will announce earnings tomorrow, rose 10% to HKD 87.5. Alibaba (09988) up over 5%, Tencent (00700) slightly down 0.5%.

【13:34】Meituan (03690) surged 7% to HKD 85.85.

【13:33】Hong Kong stocks rose over 100 points, with the Hang Seng Index at 25,226, up 162 points, with HKD 183.7 billion in turnover. The Tech Index rose 1.1% to 4,885.

【13:27】【HK Stock Analysis】 The Hang Seng Index once surged over 300 points, briefly crossing the bull-bear line. If a ceasefire agreement is reached, the index could rise to 26,300.

【13:24】【9633 Analysis】 Nongfu Spring’s earnings surged 10% after release, with profits and revenue exceeding expectations. The performance is “impeccable.”

【13:11】【371 Earnings】Beijing Enterprises Water Group: net profit down 6.9%, final dividend up over 1% to HKD 0.0925.

【13:06】Hong Kong stocks turned lower about 20 points, at 25,041, still above 25,000.

【13:06】Bubble Mart (09992) fell over 14% after earnings, low of HKD 185.

【12:47】【9992 Earnings】Bubble Mart’s net profit last year was HKD 12.78 billion, nearly tripling; 17 IPs earned over HKD 100 million; THE MONSTERS earned HKD 14.16 billion, Star People’s revenue increased 16 times.

【12:37】【6181 Major Bank Report】Old shop gold stocks favored by two foreign institutions, but Nomura lowered target price by 5%, possibly due to gold price issues?

【12:30】【Sports Goods 2020 Earnings】Anta’s net profit fell 12.9% to HKD 13.59 billion; revenue first exceeded HKD 80 billion; final dividend HKD 1.08.

【12:00】Hang Seng half-day slightly up 9 points at 25,072, with HKD 151.29 billion in turnover. China Gold (02899) up over 1%, CNOOC (00883) down over 3%, Xiaomi (01810) down nearly 3% after earnings, Nongfu Spring (09633) up over 8% after earnings.

【11:53】Zejing Holdings (02632), which dipped yesterday, rebounded 60% on debut, high of HKD 45.6.

【11:46】Hong Kong stocks’ midday gains narrowed to about 30 points.

【11:44】【1810 Analysis】Xiaomi fell over 3%, with smartphone gross margin dropping to 8.3%. Capital expenditure doubled. He Qicong: low gross margin + cost pressure.

【11:32】【9992】Bubble Mart’s earnings before release rose 3%, will launch World Cup series toys and Labubu World Cup trophy.

【11:09】【3320 Earnings】China Resources Pharmaceutical: profit rose 20% last year, with a 1.3-fold increase in final dividend to HKD 0.122.

【11:03】Tencent (00700) down over 1%, Alibaba (09988) up nearly 1%, Meituan (03690) up over 1%.

【10:59】Wuxi Biologics (02269) down 3% against the trend.

【Wuxi Biologics (02269) earnings】Net profit increased 46% last year, gross margin up to 46%.

【10:51】Market’s gain further narrowed to about 150 points, at around 25,200.

【10:48】【US-China Relations】Reportedly, China Investment Corporation is considering reallocating assets to US asset managers.

【10:26】【CKH sells ports】CKH’s Panama port claim rises to over USD 2 billion, accusing the Panamanian government of attempting to delay arbitration.

【10:19】CKH (00001) up 2%. Its Panama port company reportedly expanded arbitration claims, stating that one month after the government’s “illegal takeover” of port facilities, losses have risen to over USD 2 billion.

【10:16】Early in the session, Hang Seng rose as much as 326 points to 25,390, but gains eased to about 207 points, at 25,271, with HKD 90.5 billion in turnover. The Tech Index up 1.4% to 4,900.

【09:43】SenseTime (00020) narrowed net loss, up over 5% to a high of HKD 2.02.

【SenseTime earnings】Net loss last year narrowed 59% to HKD 1.77 billion; first EBITDA recorded in H2.

【09:43】WH Group (00288) up over 4% after earnings, high of HKD 10.05.

Pork stock earnings｜WH Group: expects China meat sales to turn positive this year; Middle East conflict impact minimal; full-year pre-fair value adjustment profit up 8.2%, final dividend HKD 0.41.

【09:43】Zijin (02899) up over 4%, Zijin Gold International (02259) up over 7%, Shandong Gold (01787) up 5%, Lingbao Gold (03330) up 8%.

【Gold Price Trend】Gold ends nine consecutive days of decline! Spot gold back above USD 4,500 per ounce, with HKD 1,800 per tael increase in local gold prices.

【09:22】Hang Seng opened higher by 216 points at 25,280, with HKD 49.2 billion in turnover. Xiaomi (01810) fell 2% after earnings, Alibaba (09988) rose over 1%, Zijin (02899) up nearly 4%, CNOOC (00883) down 3%.

【1810 Earnings】Xiaomi’s Lu Weibing admits memory price hikes pose huge challenges; plans to invest 16 billion RMB in AI this year; Q4 revenue up 7.3% YoY, adjusted profit HKD 6.35 billion, exceeding expectations (second edition).

【09:08】Hang Seng futures up about 91 points at 25,138.

【07:45】【Morning Brief】Trump: Rubio and Vance involved in Iran negotiations｜Xiaomi Q4 adjusted profit HKD 6.35 billion beats expectations.

【07:45】Signs of easing in Middle East conflicts; as oil prices fall, night futures close up 11 points at 24,972, China concept stock index down 0.4%, at 6,771.

| ADR | HKD Conversion | Change from HK Market Close | | Meituan ADR | 78.12 | -1.11% | | Tencent ADR | 509.51 | -0.87% | | HSBC ADR | 124.10 | +0.41% | | Alibaba US Stock | 122.78 | -0.34% | | Baidu US Stock | 110.10 | -2.22% |

More Hong Kong ADRs and Chinese concept stocks quotes:

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【07:30】【US Media Reports】US in contact with Iran over ceasefire plan; Iranian officials deny Trump’s claims of behind-the-scenes negotiations but confirm US has sent messages and proposals. US stocks are soft, Dow down 438 points at 45,769, closing at 46,124, down 84; S&P 500 down 0.4% at 6,556; Nasdaq down 0.8% at 21,761.

See US market close details:

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Hong Kong stocks yesterday, for details see: 【Hong Kong Night Futures + ADR + Northbound Funds】 Night futures close up 11 points; Baidu and US stocks underperform HK market by 2%.