"Market Review" Hong Kong stocks fluctuated upward, with a net inflow of 16.7 billion from the north, POP MART dropped 7%

In August, the United States added 22,000 non-farm jobs, far below expectations, raising concerns about an economic slowdown and hopes for interest rate cuts, leading to a rise in Hong Kong stocks today (8th). The Dow Jones and Nasdaq fell nearly 0.5% and 0.03% respectively last Friday (5th). According to the FedWatch rate futures tool from the Chicago Mercantile Exchange (CME), the chance of a rate cut in September is 90.1%. At the time of writing, the yield on the 2-year U.S. Treasury bond fell to 3.505%, the yield on the 10-year U.S. Treasury bond fell to 4.084%, and the U.S. dollar index fell to 97.67. Dow futures rose 75 points or 0.16%, and Nasdaq futures rose 76 points or 0.3%. China announced that in August, exports in U.S. dollar terms increased by 4.4% year-on-year (forecasted to rise by 5.4%), and imports increased by 1.3% year-on-year (below the market forecast of a 4.3% increase). The Shanghai Composite Index rose 14 points or 0.38% to close at 3,826 points, the Shenzhen Component Index rose 0.6%, and the total trading volume of the Shanghai and Shenzhen stock markets exceeded 2.41 trillion yuan.

The Hang Seng Index opened 22 points higher, initially fell 30 points to 25,387 points before rising. In the afternoon, it rose 246 points, reaching a high of 25,664 points, closing up 215 points or 0.8% at 25,633 points; the Hang Seng China Enterprises Index rose 64 points or 0.7% to close at 9,121 points; the Hang Seng Tech Index rose 66 points or 1.2% to close at 5,753 points. The total trading volume for the day was 286.043 billion yuan. The total trading volume of northbound funds was 155.043 billion yuan, while southbound funds had a net inflow of 16.705 billion yuan today (the previous day's net inflow was 5.623 billion yuan).

China Telecom (00728.HK) and JD Logistics (02618.HK), which were "dyed blue," saw their stock prices rise by 0.7% and 3.4% respectively. POP MART (09992.HK) plummeted by 7.1% to close at 287.6 yuan, with a trading volume of 9.36 billion yuan. Some pharmaceutical stocks rose, with Fosun Pharma (02196.HK) and CanSino (06185.HK) rising by 9.4% and 6.9%, while WuXi Biologics (02269.HK), Kangzhong Pharmaceutical (00867.HK), and Rongchang Biologics (09995.HK) rose by 4.7% to 5.5%.

【POP MART plummets, Alibaba and Baidu rise】

Tencent (00700.HK) rose nearly 2% to close at 617.5 yuan, Alibaba-W (09988.HK) saw its stock price bounce up 4.2% to close at 137.3 yuan, with a trading volume of 20.078 billion yuan. Baidu-SW (09888.HK) surged nearly 9.5% to close at 106.2 yuan, with a trading volume of 6.173 billion yuan.

According to Mark Gurman's "Power On" newsletter released yesterday (7th), Apple (AAPL.US) continues to advance its Apple Intelligence launch plan in mainland China, expected to go live by the end of the year Domestic media outlet IT Home noted that reports indicate Apple is collaborating with Alibaba-W (09988.HK) and Baidu-SW (09888.HK) to introduce Apple Intelligence to the mainland market through iOS 26.1 or iOS 26.2 by the end of the year.

【Horizon Stock Surges】

The Hong Kong stock market today showed a slight weakening, with a rise and fall ratio of 30 to 20 for main board stocks (compared to 38 to 12 yesterday). There were 1,230 rising stocks (up 3.2%), with 58 Hang Seng Index constituent stocks rising and 23 falling, resulting in a rise and fall ratio of 66 to 26 (compared to 89 to 8 yesterday). The market recorded short selling of HKD 38.156 billion today, accounting for 14.757% of the total turnover of shortable stocks at HKD 258.558 billion (compared to 13.726% yesterday).

Mainland lidar giant Hesai Technology (02525.HK)(HSAI.US) is conducting an IPO in Hong Kong, and the autonomous driving concept stock Horizon-W (09660.HK) surged 7% to close at HKD 10.5, with a turnover of nearly HKD 5.7 billion; meanwhile, Suxing Juchuang (02498.HK) rose 6.8%, with a turnover of HKD 686 million.

Hesai plans to globally offer 17 million Class B ordinary shares, with 10% (approximately 1.7 million shares) allocated for public offering in Hong Kong and 90% (approximately 15.3 million shares) for international placement. The subscription period runs from today until noon on Thursday (11th), with pricing expected on Friday (12th) and listing on the following Tuesday (16th). CICC, Guotai Junan International, and CMB International are acting as joint sponsors. The maximum offer price is set at HKD 228 per share, with expected total fundraising of approximately HKD 3.876 billion and net proceeds estimated at around HKD 3.706 billion. This IPO has attracted six cornerstone investors