"Hong Kong Stocks" Hang Seng Index down 147 points in half a day, Trip.com drops nearly 20%, New World rises 12%

U.S. bank stocks were slightly weak, with the Dow Jones Industrial Average falling 42 points or less than 0.1% overnight (on the 13th). Hong Kong stocks fluctuated and fell in the early market, with the Hang Seng Index opening down 27 points, initially rising 207 points to a high of 27,206 points, then dropping 155 points to a low of 26,844 points, closing down 147 points or 0.5% at 26,852 points; the National Index fell 64 points or 0.7% to 9,251 points; the Hang Seng Tech Index fell 107 points or 1.8% to 5,800 points. The total turnover of the market in the first half of the day was HKD 163.897 billion.

It is rumored that Alibaba's Qianwen has launched an "AI Life Assistant," and Alibaba (09988.HK) fell 3% to close at HKD 164, with a turnover of HKD 14.326 billion. Alibaba Health (00241.HK) plummeted 8.5% to HKD 7.12. Meituan (03690.HK) and JD.com (09618.HK) fell 0.8% and 1%, respectively, while Kuaishou (01024.HK) dropped 3.4%, and travel platform Tongcheng (00780.HK) fell 10.9%.

Trip.com is under investigation by the State Administration for Market Regulation for suspected monopolistic behavior, and its ADR fell 17% overnight. Trip.com (09961.HK) dropped 19.6% in the early market to HKD 457.6, with a turnover of HKD 9.983 billion. It is reported that Baidu (09888.HK) is considering upgrading its Hong Kong listing status to a primary listing, and Baidu rose 0.3%. Lens Technology (06613.HK) delivered humanoid robots in bulk to several leading robotics clients, with its stock price falling 0.1%.

In other tech stocks, Tencent (00700.HK) fell 1.3%, NetEase (09999.HK) and Bilibili (09626.HK) fell 1.9% and 2.2%, respectively. Meitu (01357.HK), Ping An Good Doctor (01833.HK), and China Literature (00772.HK) fell between 3.7% and 4.6%, while Kingdee (00268.HK) and Weimob (02013.HK) dropped 7.7%, and Alibaba Health (00241.HK) fell 8.5%. In AI-related stocks, Jingtai (02228.HK) fell 9.4%, while Kingsoft Cloud (03896.HK), Inspur Intelligent (03696.HK), and MINIMAX (00100.HK) fell between 4.1% and 5.3%, and Zhiyun (02513.HK) rose 4.7%. In mobile component stocks, QiuTai (01478.HK) fell 7.1%, and in chip stocks, SMIC (00981.HK) fell 1.2%.

Mainland China held a symposium for the new energy vehicle industry, firmly resisting disorderly "price wars." BYD (01211.HK) rose 1.8% to HKD 99.4, while Xiaomi (01810.HK) and Geely (00175.HK) rose 0.3% and 1.7%, respectively. Lithium stocks Tianqi (09696.HK) and Ganfeng (01772.HK) rose 3.7% and 5.3% Logistics stock Jitu (01519.HK) and SF Express (06936.HK) have reached a strategic mutual shareholding agreement involving HKD 8.3 billion. Jitu closed flat at HKD 11.74, while SF Express rose by 2.5%. Peer ZTO Express (02057.HK) increased by 1.8%.

In the financial sector, HSBC (00005.HK) and Hong Kong Exchanges and Clearing (00388.HK) rose by 0.1% and 0.2%, respectively, while AIA (01299.HK) closed flat at HKD 84.7. The mainland stock market retreated, with insurance stocks Ping An (02601.HK), China Life (02628.HK), and ZhongAn (06060.HK) falling by 2.6% to 3%. Brokerage stocks Cathay Securities (02611.HK), CICC (03908.HK), China Galaxy (06881.HK), and Huatai (06886.HK) dropped by 2.4% to 3.1%.

Dongyao Pharmaceutical (01875.HK) received a full acquisition offer from WuXi AppTec (02268.HK) at HKD 4 per share, leading to a 64% increase in Dongyao's stock price to HKD 4.1, while WuXi AppTec fell by 3%. Kanglong Chemical (03759.HK) raised nearly HKD 1.32 billion through a placement at an 8.5% discount, with its stock price dropping by 5.7%.

Bank of America Securities expects Hong Kong's residential property prices to rise by 5% to 10% this year (previously estimated at 3%) and predicts another 5% increase next year, raising the target price for Hong Kong real estate stocks by 8%. Local real estate stock Sun Hung Kai Properties (00016.HK) rose by 2.1%, New World Development (00017.HK) surged by 12.3% to HKD 9.24, and Swire Properties A (00019.HK) increased by 3.9%. Among other stocks, Nine Dragons Paper (02689.HK) fell by 3.4%, while DaMai Entertainment (01060.HK) and Goldwind (02208.HK) each dropped by 5.2%