The Hang Seng Index fell 26 points in the first half of the day, Baidu rose 4% to reach a new high, Sun Hung Kai Properties increased by 3.7%, and the "three oil companies" rose by 3% | Hong Kong stock market opens

U.S. President Donald Trump announced a framework agreement with NATO, retracting the threat of tariffs on Europe. Following the positive performance of U.S. stocks the previous night, stock markets in the Asia-Pacific region generally rose this morning, but Hong Kong stocks opened high and then fell. The Hang Seng Index opened 165 points higher this morning, but the gains quickly narrowed, even falling by as much as 85 points. It closed down 26 points or 0.1% at 26,558 points, with a turnover of HKD 131.628 billion. The Tech Index fell 23 points or 0.41%, closing at 5,722 points. Tech stocks showed mixed performance, with Tencent (700) down 0.83%; Meituan (3690) down 0.92%; NetEase (9999) down 1.44%; Xiaomi (1810) down 1.75%. Alibaba (9988) rose 0.42%. Baidu (9888) released the official version of its Wenxin large model 5.0, rising 4.16% to HKD 160.1, reaching a nearly three-year high. Gold Prices Fall, Zhaojin Down 4% Hong Kong real estate stocks performed well, with Nine Dragons (1997) up 4.33%; Sun Hung Kai Properties (016) up 3.72%; Cheung Kong (1113) up 1.84%; New World Development (017) up 1.15%; Link REIT (823) up 1.14%; however, Henderson Land (012) fell 0.97%. HSBC Global Investment Research released a report raising the target prices for several major Hong Kong real estate stocks, including a 14% increase in the target price for Sun Hung Kai to HKD 127.2; and a 35% increase in the target price for New World to HKD 6.2. The "Big Three Oil Companies" performed strongly, with PetroChina (857), Sinopec (386), and CNOOC (883) all rising over 3%. With the easing of U.S.-European tensions, demand for gold as a safe haven decreased, dragging gold prices down, with Zhaojin (1818) down 4.45%; Zijin Mining (2899) down 3.42%; and Zijin Gold International (2259) down 1.65%. China Silver Group (815) also fell 4.28%. ——— 0930: "TACO" trading reappears! After U.S. President Donald Trump met with NATO Secretary General Mark Rutte, he stated that an agreement had been reached on the future cooperation framework for Greenland and the entire Arctic region. The U.S. will not implement tariffs related to Greenland on eight European countries as originally planned on February 1. This news stimulated a rebound in all three major U.S. stock indices. Easing Situation, Gold and Silver Prices Fall The Dow Jones rose 588 points or 1.21% on Wednesday, closing at 49,077 points; the S&P 500 rose 78 points or 1.16%, closing at 6,875 points; the Nasdaq rose 270 points or 1.18%, closing at 23,224 points. As for the Golden Dragon Index, which reflects the performance of Chinese concept stocks, it rose 2.21% to 7,776 points. With the situation easing, gold prices also fell, with spot gold reaching a new high of USD 4,888 on Wednesday, falling to around USD 4,785 this morning; silver prices also declined, dropping about 1.5% to USD 91.57 this morning. In the Hong Kong stock market, the Hang Seng Index opened 165 points higher this morning, reporting 26,750 points. Tech stocks generally rose, with Alibaba (9988) up 1.7%; Tencent (700) up 0.3%; Meituan (3690) rose 0.05%; Xiaomi (1810) and JD.com (9618) also increased by 0.9% and 1% respectively, while Baidu (9888) surged nearly 4%. In addition, gold prices fell, leading gold stocks to retreat, with Zijin Mining (2899) dropping over 2%, Zhaojin (1818) and Shandong Gold (1787) falling by 2.8% and 2.7% respectively, and Zijin Gold International (2259) declining by 2.6%. China Rare Earth Holdings Secures Subscription Shares from Zijin and Others In individual stock news, China Rare Earth Holdings (3788) has entered into a subscription agreement with Zijin Global Fund, Luyin, Dongfang Jinye, and Manna Lake, issuing 43.96 million shares to the four subscribers at a subscription price of HKD 3.8 per share, representing a discount of about 18% to the previous closing price, accounting for approximately 1.96% of the enlarged issued share capital after the issuance and placement of subscription shares. The net proceeds are expected to be around HKD 164.76 million; the stock opened at HKD 4.65, unchanged. Tian Ge Interactive Receives Increased Stake from Sina Hong Kong Tian Ge Interactive (1980) received a cash partial offer from Sina Hong Kong to acquire 32.5 million shares at a cash price of HKD 0.7 per share, representing a discount of 1.41% compared to the stock price before suspension, with a total consideration of HKD 22.75 million. Tian Ge Interactive resumed trading this morning, opening at HKD 0.71, unchanged. Life Insurance China Declares Special Dividend Life Insurance China (2136) board approved the declaration of a special dividend of HKD 0.42 per share, involving a total amount of HKD 615 million; the stock opened at HKD 1.06, up 7%. Related article: The Implications Behind the Special Dividend | Tang Niu Regarding the movement of northbound capital, there was a net purchase of HKD 13.93 billion in Hong Kong stocks yesterday, with the Tracker Fund (2800), Hang Seng China Enterprises (2828), and Alibaba (9988) receiving net purchases of HKD 4.153 billion, HKD 1.817 billion, and HKD 1.078 billion respectively; while China Mobile (941), Tencent (700), and Hua Hong Semiconductor (1347) experienced net sales of HKD 921 million, HKD 272 million, and HKD 120 million respectively