The Hang Seng Index fell 38 points in the half-day session, with SMIC and Baidu rising over 3%, while Anta plunged nearly 6%. Robotics concept stocks moved upward | Hong Kong stock market opens

The Hang Seng Index opened 90 points lower this morning, but at one point rose 80 points to 26,567 points. However, after about 10:30, it weakened again, reporting 26,449 points at noon, down 38 points or 0.15%, with a half-day turnover of HKD 127.6 billion. As for the Tech Index, it reported 5,691 points at noon, up 8 points or 0.14%. Among the heavyweight blue-chip stocks, Xiaomi (1810) fell over 2% in the first half of the day, while NetEase (9999) and Anta (2020) dropped over 3% and 5.8% respectively, becoming one of the culprits dragging down the Hang Seng Index. In contrast, Alibaba (9988) rose 1% in the first half, along with SMIC (981) and Baidu (9888), both rising over 3%, providing strong support to the market. Anta's Operating Profit Margin Under Pressure in 2026 On the news front, Morgan Stanley issued a report indicating that Anta (2020) recently mentioned pressure on its operating profit margin in 2026, which may exacerbate negative market sentiment in the short term. However, considering its 2026 price-to-earnings ratio of 14 to 15 times, there is certain downside protection, especially given its long-term strong performance record. They reiterated their "Overweight" rating with a target price of HKD 128. In addition to Anta, some sportswear stocks also faced pressure, with Li Ning (2331) down 4%, while 361 Degrees (6110) and Xtep (1368) fell 2.1% and 1.7% respectively. Mainland Promotes Humanoid Robot Technology Innovation On the other hand, the Ministry of Industry and Information Technology of the mainland stated that it will continue to promote innovation and iterative upgrades in humanoid robot technology, using humanoid robots as a small entry point to drive the development of the large computing intelligence industry. It will continue to strengthen the inspection and testing of humanoid robot product quality, network, and data security, and carry out related research and management services on technology ethics to ensure high-quality development with high-level safety guarantees. The news stimulated the robotics concept stocks to rise, with MicroPort Medbot (2252) soaring over 12%; Woan Robotics (6600) rose by 10%; and Geek+ (2590) also rose over 5%. ----- The Greenland sovereignty dispute is stirring up, and the shadow of a tariff war is re-emerging, with the U.S. President not ruling out the possibility of using force to seize Greenland. After the holiday, U.S. stocks plunged sharply, with the Dow Jones closing down 870 points or 1.76%, reporting 48,488 points; the S&P 500 fell 143 points or 2.06%, reporting 6,796 points; and the Nasdaq also dropped 561 points or 2.39%, reporting 22,954 points. As for the Golden Dragon Index, which reflects the performance of Chinese concept stocks, it fell 1.45% to 7,608 points on Tuesday. Additionally, the cryptocurrency market also faced selling pressure, with Bitcoin falling below the USD 90,000 mark, currently reporting around USD 88,800; Ethereum also fell below USD 3,000, currently reporting around USD 2,961. Gold Further Rises, Reaching USD 4,810 However, gold and silver continue to be favored and set new highs, with spot gold prices rising nearly 2% on Tuesday and further increasing this morning, reaching a high of USD 4,810; spot silver prices rose slightly by 0.3% on Tuesday and are currently reporting around USD 95.3 Netflix Outlook Below Expectations, Drops Over 5% After Hours Several large tech stocks in the U.S. experienced sharp declines, with NVIDIA (NVDA) and Tesla (TSLA) dropping over 4%, Apple (AAPL) and Amazon (AMZN) falling over 3%, and Google (GOOG) declining over 2%. As for Netflix (NFLX), it announced after the market close that its fourth-quarter revenue was $12.05 billion, with earnings per share of $0.56, both exceeding expectations; however, due to a projected first-quarter operating profit of $3.91 billion and earnings per share of $0.76, which fell short of market expectations, its stock price plummeted over 5% after hours to $83.84. In the Hong Kong stock market, the Hang Seng Index opened down 90 points at 26,397 points. Tech stocks generally declined, with Alibaba (9988) down 0.9%; Tencent (700) down 0.5%; Meituan (3690) down 0.4%; Xiaomi (1810) and JD.com (9618) also fell by 1% and 0.4%, respectively. Gold prices remained high, with Zhaojin (1818) rising over 4%; Zijin Mining International (2259), Shandong Gold (1787), and Chifeng Jilong Gold Mining (6693) all increasing over 3%; Chifeng Jilong Gold Mining (6693) rose 2.4%; and Zijin Mining (2899) increased over 1%. Additionally, China Silver Group (815) also rose 1.4%. ASMPT Considers Spin-off Listing for SMT In individual stock news, ASMPT (522) announced that it is initiating a strategic evaluation for its Surface Mount Technology (SMT) division, considering a range of options for SMT, which may include but are not limited to sale, joint ventures, spin-offs, and listings, or retaining and supporting SMT's strategic development to ensure its long-term success and value creation. The stock opened at HKD 98.45, up 0.9%. Skyworth Plans to Go Private and Spin-off Solar Business Skyworth Group (751) plans to go private and delist while spinning off its solar business for listing, involving a cancellation of planned shares in exchange for cash options, specifically HKD 4.03 in cash per planned share, or share options, exchanging 1 new share for each planned share. The stock resumed trading this morning, opening at HKD 7.39, up 43%. Regarding northbound capital flows, there was a net purchase of HKD 3.663 billion in Hong Kong stocks yesterday, with Tencent (700), Meituan (3690), and Xiaomi (1810) receiving net purchases of HKD 663 million, HKD 573 million, and HKD 395 million, respectively; while SMIC (981), China Mobile (941), and Luoyang Molybdenum (3993) experienced net sales of HKD 718 million, HKD 637 million, and HKD 97.99 million, respectively