"Hong Kong Stocks" The Hang Seng Index closed down 76 points, Trip.com fell 19%, Hua Hong rose 6%

After four consecutive rises in the Hong Kong stock market, it showed a slight decline. The Hang Seng Index opened 27 points lower, briefly rising 207 points to a high of 27,206 points, before dropping 191 points to a low of 26,808 points. In the afternoon, the mainland announced a 0.25% reduction in various structural monetary policy tool interest rates, and starting next Monday (19th), it will lower the re-lending and rediscount rates by 0.25 percentage points. The market's decline narrowed, closing down 76 points or 0.3% at 26,923 points; the National Index fell 48 points or 0.5% to close at 9,266 points; the Hang Seng Tech Index dropped 79 points or 1.4% to close at 5,828 points. The total market turnover for the day was HKD 290.455 billion.

Alibaba launched "AI Life Assistant," with Alibaba (09988.HK) dropping 2.6% to close at HKD 164.6, with a turnover of HKD 22.058 billion. Alibaba Health (00241.HK) fell 7.8% to close at HKD 7.17. Meituan (03690.HK) and JD.com (09618.HK) both fell 0.7%, Kuaishou (01024.HK) dropped 2.9%, and travel platform Tongcheng (00780.HK) plunged 8.2%. Trip.com was investigated by the State Administration for Market Regulation for suspected monopolistic behavior, with its ADR falling 17% overnight. Trip.com (09961.HK) dropped 19.2% to close at HKD 460, with a turnover of HKD 15.816 billion. It was reported that Baidu (09888.HK) is considering upgrading its Hong Kong listing status to a primary listing, with Baidu rising 0.8%. Lens Technology (06613.HK) delivered humanoid robots in bulk to several leading robotics clients, with its stock price rising 1.6%.

TSMC's quarterly results exceeded expectations, and the People's Bank of China announced an increase in the re-lending quota for technological innovation and technological transformation by RMB 400 billion, bringing the total quota to RMB 1.2 trillion. Chip stocks rebounded in the afternoon, with SMIC (00981.HK) rising 1.8% and Hua Hong (01347.HK) rising 6.3% to HKD 99.45. Tianshu Zhixin (09903.HK) and InnoCare (02577.HK) rose 2.9%. Mobile-related stocks BYD Electronics (00285.HK) and GoerTek (01415.HK) each rose 3.2%, while QiuTai (01478.HK) fell 5.5%.

In other tech stocks, Tencent (00700.HK) and NetEase (09999.HK) fell 1.7% and 3.2%, respectively, while Bilibili (09626.HK) dropped 1%. Meitu (01357.HK), Ping An Good Doctor (01833.HK), and China Literature (00772.HK) fell between 3.6% and 4.9%, while Kingdee (00268.HK) and Weimob (02013.HK) dropped 8.1% and 6.2%. In AI-related stocks, JingTai (02228.HK) fell 10.7%, Kingsoft Cloud (03896.HK) and Inspur Intelligent (03696.HK) fell 3.7% and 4.8%, while Zhipu (02513.HK) rose 11.6%, and Yunzhisheng (09678.HK) rebounded 4.9% A symposium for the new energy vehicle industry was held in mainland China, firmly resisting disorderly "price wars." BYD (01211.HK) rose 1.5% to HKD 99.1, Xiaomi (01810.HK) and Geely (00175.HK) rose 0.2% and 1.5%, respectively. Lithium stocks Tianqi (09696.HK) and Ganfeng (01772.HK) rose 4.8% and 7.7%. Logistics stocks Jitu (01519.HK) and SF Express (06936.HK) reached a strategic mutual shareholding agreement involving HKD 8.3 billion, with Jitu and SF Express rising 0.8% and 2.4%, while peer ZTO (02057.HK) rose 1.6%.

In the financial sector, HSBC (00005.HK) and Hong Kong Exchanges and Clearing (00388.HK) rose 0.9%, and AIA (01299.HK) rose 0.2%. The mainland stock market retreated, with insurance stocks China Pacific Insurance (02601.HK), China Life (02628.HK), and ZhongAn (06060.HK) falling 2.3% to 2.9%, and brokerage stocks Guotai Junan (02611.HK) and Huatai (06886.HK) dropping over 2%.

Dongyao Pharmaceutical (01875.HK) received a full acquisition offer from WuXi AppTec (02268.HK) at HKD 4 per share, with Dongyao Pharmaceutical rising 67.6% to HKD 4.19, while WuXi AppTec fell 3.8%. Kanglong Chemical (03759.HK) raised nearly HKD 1.32 billion through a placement at an 8.5% discount, with its stock price falling 4.4%.

Bank of America Securities expects Hong Kong's residential property prices to rise by 5% to 10% this year (previously expected to rise by 3%), estimating a further 5% increase next year, and raised the target price for Hong Kong real estate stocks by 8%. Local real estate stocks Sun Hung Kai Properties (00016.HK) rose, and Swire Properties (01972.HK) rose 2.2% and 3.1%, respectively, while New World (00017.HK) surged 9.8%, and Swire A (00019.HK) rose 4.7%. Mainland property stocks Sunac (01918.HK) and Vanke (02202.HK) rose 3.4% and 6.8%. In other stocks, Damai Entertainment (01060.HK) and Goldwind (02208.HK) fell 4.2% and 4.5%, respectively