【HK Stocks Night Futures + ADR + North Bound Flow】JD.com US Stock Higher by 2% in HK　Night Futures Down 100 Points (Continuous Updates)

【Hang Seng Index / Hang Seng Index / HSIC / Hang Seng / HSI / Hong Kong Stocks / Night Futures / ADR】Night futures down 100 points, at 25,270 points. China concept stock index up 1.6%, at 6,880 points. JD.com US stocks up 2% over Hong Kong stocks.

| ADR | Converted HKD | Change from Hong Kong Close | | Meituan ADR | 89.02 | -1.09% | | Tencent ADR | 503.53 | -0.39% | | HSBC ADR | 126.70 | +1.36% | | Alibaba US Stocks | 126.31 | -2.01% |

Northbound funds buy in HKD 22.3 billion, mainly into the Tracker Fund of Hong Kong (02800), with a net inflow of HKD 11.38 billion. The Hang Seng China Enterprises 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. Outflows included CNOOC (00883) and Tencent (00700), with net outflows of HKD 1.06 billion and HKD 0.62 billion respectively.

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The Hang Seng Index fluctuated, rising 272 points. Bubble Mart plunged 22% after earnings, while Meituan rose nearly 14%. Expectations that the food delivery war is ending boosted Meituan, which gained close to 14%.

Hong Kong stocks fluctuated, rising over 200 points. Signs of easing Middle East conflict led to a high open of 216 points, at 25,280. After opening, the index rose as much as 326 points to 25,390, then turned lower in the afternoon. The Hang Seng 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) fell 22% after earnings, while Meituan (03690) rose nearly 14%, Alibaba (09988) up over 4%.

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More updates on US stocks on the next page.

Financial Daily:

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US stocks continue to fluctuate; details on the next page.

Market Highlights:

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Gold prices maintained their forecast, with Goldman Sachs maintaining a year-end target of USD 5,400 per ounce, supported by central bank gold purchases.

Kuaishou (1024) reported a 16.5% increase in adjusted profit last year, with a final dividend of HKD 0.69.

Kingsoft (3888) reported a 29% profit increase to RMB 2 billion, with a 13% cut in final dividend to HKD 0.13.

USM (Unified Securities Market) to implement paperless securities trading within the year; HKEX, SFC, and Treasury Department explain the benefits for investors.

IGG (799) reported a net profit decline of less than 0.1%, with total dividends of HKD 0.544.

Green Tea Group (2025) announced full-year results, driven by resilient same-store sales and new store optimization, leading the Chinese chain restaurant sector.

TVB (511) reported a net profit of HKD 59 million last year, no dividend, with expectations of moderate advertising revenue growth. Consider renaming to “Wireless Group.”

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

[16:00] Hang Seng Index futures up 219 points at 25,283, with HKD 339.32 billion traded.

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

[14:56] Ping An Good Doctor (1833) reported a 4.5% contribution of AI to gross profit, with AI+ becoming a growth core; expects increased investment this year.

[14:26] Bubble Mart (9992) aims for at least 20% growth this year, launching LABUBU 4.0 series in the second half (ongoing updates).

[14:10] Bubble Mart (09992) fell 20%, low at HKD 172.6.

[13:57] The market rose about 300 points in the afternoon, but gains narrowed to around 130 points.

[13:57] Food delivery war: Meituan (03690) surged 10% in the afternoon, reaching HKD 87.5. JD.com and Alibaba (09988) rose 5%. Market regulator reposted articles: the delivery war should end.

[13:39] Meituan (03690) rose 10% to HKD 87.5; Alibaba (09988) up over 5%; Tencent (00700) slightly weaker, down 0.5%.

[13:34] Meituan (03690) surged 7%, reaching HKD 85.85.

[13:33] Hong Kong stocks rose over 100 points, with the Hang Seng Index at 25,226, up 162 points, HKD 183.7 billion traded. Tech Index up 1.1% at 4,885.

[13:27] [Hong Kong Market 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] Nongfu Spring (9633) surged 10% after earnings, with profits and revenue exceeding expectations. The performance is described as “impeccable.”

[13:11] Beijing Enterprises Water (371) net profit down 6.9% last year, final dividend up over 1% to HKD 0.0925.

[13:06] Hong Kong stocks turned lower about 20 points, at 25,041. Bubble Mart (09992) dropped over 14% after earnings, low at HKD 185.

[12:47] Bubble Mart (9992) net profit RMB 12.78 billion, nearly tripling, with 17 IPs earning over HKD 100 million; The Monsters earned RMB 14.16 billion, 16-fold increase in Star People.

[12:37] Major bank reports: Old shop gold (6181) praised by two foreign institutions; Nomura lowered target price by 5%, citing gold price concerns.

[12:30] Sportswear stocks 2020 earnings: Anta (2020) net profit RMB 13.59 billion, down 12.9%; revenue over HKD 80 billion; final dividend HKD 1.08.

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

[11:53] Yesterday’s plunge: Zijing (02632) rebounded 60% on debut, high at HKD 45.6.

[11:46] Midday close: gains narrowed to about 30 points.

[11:44] [Xiaomi (01810) Analysis] Xiaomi (01810) down over 3%; smartphone gross margin fell to 8.3%; capital expenditure doubled. He Qi Cong: low gross margin + cost pressure.

[11:32] Bubble Mart (9992) rose 3% before earnings; launching World Cup series toys and Labubu World Cup trophy.

[11:09] China Resources Medical (3320) rose over 10% after earnings; profit increased 20%, final dividend 1.3 times to RMB 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% amid market.

[10:51] Market gain further narrowed to about 150 points, at 25,200.

[10:48] [US-China Relations] China Investment Corporation considering reallocating assets to US asset managers.

[10:26] [CK Hutchison sells ports] CK Hutchison’s Panama port claims exceed USD 2 billion, accusing the Panamanian government of delaying arbitration.

[10:19] CK Hutchison (00001) up 2%; its Panama port claims have expanded to over USD 2 billion, citing illegal takeover by the Panamanian government.

[10:16] Early in the day, Hang Seng rose as much as 326 points, high at 25,390; latest gains narrowed to about 207 points, at 25,271; HKD 90.5 billion traded; Tech Index up 1.4% at 4,900.

[09:43] SenseTime (00020) narrowed net loss, up over 5%, high at HKD 2.02.

SenseTime (00020) last year’s net loss narrowed 59% to RMB 1.77 billion; first EBITDA in H2.

[09:43] WH Group (00288) rose over 4% after earnings; high at HKD 10.05.

Pork stocks: WH Group (00288) expects China meat sales to turn positive this year; Middle East war impact minimal; full-year profit before fair value adjustments 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) and Lingbao Gold (03330) up 5%; Shanxi Gold (01787) up 8%.

[Gold Price Trend] Gold ends nine consecutive declines! Spot gold back above USD 4,500 per ounce; local gold price up HKD 1,800 per tael in a day.

[09:22] Hang Seng opens higher by 216 points at 25,280; HKD 49.2 billion traded. Xiaomi (01810) down 2% after earnings; Alibaba (09988) up over 1%; Zijin (02899) up nearly 4%; CNOOC (00883) down 3%.

[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 profit HKD 6.35 billion, exceeding expectations.

[07:45] Signs of easing Middle East conflict; oil prices expected to fall. Night futures up 11 points, closing at 24,972; China concept stocks down 0.4%, at 6,771.

| ADR | Converted HKD | Change from Hong Kong Close | | Meituan ADR | 78.12 | -1.11% | | Tencent ADR | 509.51 | -0.87% | | HSBC ADR | 124.10 | +0.41% | | Alibaba US Stocks | 122.78 | -0.34% | | Baidu US Stocks | 110.10 | -2.22% |

More Hong Kong ADRs and China concept stock quotes:

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