"Hong Kong Stocks" The Hang Seng Index closed up 29 points, Xiaomi and mobile-related stocks softened, while airline stocks rose

The U.S. will release inflation data later, and Hong Kong stocks showed mixed developments today. The Hang Seng Index opened down 137 points, initially falling 207 points to a low of 25,261 points before rebounding. It later rose 43 points to close at 25,511 points, ending the day up 29 points or 0.1% at 25,498 points; the Hang Seng China Enterprises Index fell 2 points or 0.02% to close at 8,841 points; the Hang Seng Tech Index dropped 39 points or 0.7% to close at 5,418 points. The total market turnover for the day was HKD 162.377 billion.

Xiaomi (01810.HK) fell 2.5% to close at HKD 40.2, as Credit Suisse downgraded its rating to "Hold" and lowered the target price to HKD 43.36, citing that memory costs will further squeeze profit margins. Mobile component stocks Lens Technology (06613.HK), Q Technology (01478.HK), and GoerTek (01415.HK) fell between 2.6% and 3.6%. SenseTime (00020.HK) plans to raise HKD 3.15 billion through a discounted placement of over 8%, with its stock price dropping 4.1%. Minth Group (00425.HK) partnered with a mainland robotics company to manufacture general-purpose intelligent robots in Europe, with its stock price rising 1.5%. The State Administration for Market Regulation indicated that platforms requiring merchants to offer "lowest prices online" may constitute monopolies, leading to declines of 1.3% and 0.1% for Alibaba (09988.HK) and JD.com (09618.HK), respectively.

In other tech stocks, Tencent (00700.HK) closed flat at HKD 605, while Meituan (03690.HK), Kuaishou (01024.HK), Bilibili (09626.HK), and NetEase (09999.HK) rose between 0.1% and 0.7%. Baidu (09888.HK) fell 0.8%. In the chip sector, SMIC (00981.HK) and Hua Hong Semiconductor (01347.HK) dropped 0.1% and 1.4%, respectively. In the wire sector, Changfei Fiber Optics (06869.HK) fell 0.7%, with a turnover exceeding HKD 2.8 billion.

The Passenger Car Association reported that retail sales in the new energy vehicle market fell 4% year-on-year in the first two weeks of this month. Car stocks BYD (01211.HK) and Chery (09973.HK) fell 1.4% and 2%, respectively, while Seres (09927.HK) dropped 2.9%. Autonomous driving system provider Pony.ai (02026.HK) and battery stock CATL (03750.HK) fell 5% and 3.3%, respectively.

In the financial sector, HSBC (00005.HK) and Hong Kong Exchanges and Clearing (00388.HK) rose 1% and 0.9%, respectively, while AIA (01299.HK) rose 0.5%. China Merchants Bank (03968.HK) and PICC (01339.HK) rose 2.4% and 2.7%, respectively. China International Capital Corporation (03908.HK) plans to absorb Dongxing Securities and Cinda Securities through a share swap, with China Cinda (01359.HK) expected to report earnings of RMB 20 billion. CICC resumed trading up 2.5%, while China Cinda fell 2.9% China Vanke (02202.HK) was downgraded by Fitch to a "C" credit rating. Additionally, it was reported that Vanke held a bondholders' meeting to discuss the latest plan for the 2 billion yuan medium-term notes, with Vanke falling 1.9%. Peers such as New World (01030.HK) dropped 2.4%.

During the New Year's holiday, the booking volume for outbound flights in mainland China increased by over 40%. Airline stocks saw gains, with China Eastern Airlines (00670.HK) rising 8.1%, and Air China (00753.HK) and China Southern Airlines (01055.HK) increasing by 5.6% to 4.8%. Pop Mart (09992.HK) fell 1.3%, as foreign media reported a significant slowdown in Pop Mart's North American revenue growth, with short positions surging.

Zhaojin Mining (01818.HK) and Shandong Gold (01787.HK) rose 6.2% and 2.7%, respectively. Oil prices rebounded, leading to Sinopec (00386.HK) gaining 3.4%. It was reported that Goldman Sachs plans to negotiate the purchase of some loans from New World (00017.HK) at a discount, with New World rising 1.1%, and Chow Tai Fook (00659.HK) increasing by 2.8%. In other stocks, CSPC Pharmaceutical (01093.HK) rose 6.5%, while Miniso (09896.HK) and China Duty Free Group (01880.HK) fell 3.7% and 5.8%, respectively. Paper stocks declined, with Lee & Man Paper (02314.HK) and Nine Dragons Paper (02689.HK) dropping 4.1% and 8.2%