The Hang Seng Index rose 598 points in the half-day session, with HSBC leading the market. Xinyi Glass rose over 6%, while oil stocks and domestic property stocks were favored. | Hong Kong Stocks Midday

The Hang Seng Index opened 198 points higher this morning and continued to show strong momentum, with the increase once expanding to 660 points, reaching a high of 27,786 points. As of the noon report, it was at 27,725 points, up 598 points or 2.21%, with half-day turnover at HKD 196.3 billion. In terms of the Tech Index, it reported 5,854 points at noon, up 100 points or 1.74%. Tencent and Alibaba among tech stocks rise together Among the heavyweight blue-chip stocks, HSBC (005) rose another 2.7% at noon to reach a new high, contributing 68 points to the Hang Seng Index. Meanwhile, Tencent (700) and Alibaba (9988) rose 2.14% and 1.65% respectively, providing strong support to the market. Other tech stocks also saw collective gains, with JD.com (9618) up 2.11%; Xiaomi (1810) up 1.41%; Meituan (3690) up 1.14%; and Baidu (9888) up 0.39%. Related article: HSBC stock price hits a new high; Aiqiao Intelligence publishes an "Open Letter to Hong Kong" stating that the Hang Seng is starting a new chapter. CNOOC and PetroChina rise over 5% In terms of blue-chip stock fluctuations, Xinyi Glass (868) rose 6.2%, making it the best-performing blue-chip; CNOOC (883) rose 5.9%; and China Hongqiao (1378) rose 5.71%, benefiting from tight aluminum supply and continuous price increases. Additionally, Pop Mart (9992) rose 5.55%, as the stock has been repurchasing shares recently, demonstrating its confidence in development. On the other hand, the U.S. Central Command announced that it would hold several days of air force military exercises, seen as military pressure on Iran. As a result, international oil prices rose, and besides CNOOC, PetroChina (857) and Sinopec (386) also performed well, rising 5.45% and 3.8% respectively. Domestic property stocks benefit from Vanke's debt resolution progress Furthermore, benefiting from progress in Vanke's debt resolution and the continuous strengthening of domestic real estate policies this year, domestic property stocks rose collectively, with Vanke (2202) up 2.49%; China Jinmao (817) up 7.95%; Greentown China (3900) up 6.71%; and Country Garden (2007) up 1.89%. In terms of individual stocks, BUSYMING (1768), which was listed today, rose as much as 88%, reaching a high of HKD 445, before slightly retreating to close at HKD 403, up 70.33%. --- U.S. President Trump made another shocking statement to the market, refusing to acknowledge the sharp decline of the dollar, stating that the dollar is "performing well." When asked if he was worried about the depreciation of the dollar, he said, "I hope the dollar returns to its rightful level, which is a reasonable approach," even suggesting that he could manipulate the dollar exchange rate, "making it rise and fall like a yo-yo." As a result of this news, the U.S. dollar index plummeted, hitting a low of 95.55, the lowest since mid-February 2022, before slightly rebounding this morning to report around 96; additionally, spot gold prices hit a new high, reaching USD 5,202, and silver prices also saw a high of USD 114.39 The three major U.S. stock indices developed differently on Tuesday, with the Dow Jones closing down 408 points or 0.83% at 49,003 points; the S&P 500 rising 28 points or 0.41% to 6,978 points; and the Nasdaq rising 215 points or 0.91% to 23,817 points. As for the Golden Dragon Index, which reflects the performance of Chinese concept stocks, it also rose 0.48% to 7,866 points on Tuesday. Gold Prices High, Chifeng Gold Up Over 4% In the Hong Kong stock market, the Hang Seng Index opened 198 points higher this morning, reporting 27,325 points. Tech stocks developed differently, with Alibaba (9988) rising 0.35%; Tencent (700) rising 0.99%; Meituan (3690) rising 0.47%; Xiaomi (1810) unchanged; JD.com (9618) also rising 1.5%, while Baidu (9888) fell 0.4% against the trend. With gold prices high, related stocks continued to perform well, with Chifeng Gold (6693) rising 4.5%; Zhaojin (1818) rising 2.6%; Shandong Gold (1787), Zijin Mining (2899), and Zijin Gold International (2259) also rising over 2%; China Silver (815) rose 2.6%. BUSYMING International Offering Oversubscribed 43 Times In terms of new stocks, BUSYMING (1768) officially listed today, with its public offering portion recording approximately 1,898 times oversubscription, a 3% chance of winning a lot. The international offering was oversubscribed 43 times. The stock opened at 445 HKD, rising 88%. CloudWalk Expects Over 1057% Increase in Large Model Related Revenue In individual stock news, CloudWalk (9678) expects to achieve total revenue from large model-related businesses of approximately 600 million to 620 million RMB for the fiscal year 2025, representing a year-on-year growth of about 1057% to 1095%. The group stated that the revenue data from large model-related businesses only reflects part of the business performance, with overall revenue expected to be around 1.18 billion to 1.24 billion RMB, a year-on-year growth of 26% to 32%. The stock opened at 243 HKD, rising 10.5%. Cao Cao Mobility Plans to Place Shares at Nearly 9% Discount Additionally, Cao Cao Mobility (2643) plans to place 12 million shares to raise 390 million RMB, equivalent to nearly 2.1% of the expanded total issued shares, with a placement price of 32.46 RMB per share, nearly 9% lower than the previous closing price of 35.66 RMB. The stock opened at 34.96 RMB, down 2%. Regarding the northbound capital flow, there was a net sell of HKD 635 million in Hong Kong stocks yesterday, with Tencent (700), China Life (2628), and Yangtze Optical Fibre and Cable (6869) receiving net purchases of HKD 1.024 billion, HKD 511 million, and HKD 355 million, respectively; while China Mobile (941), Zijin Mining (2899), and SMIC (981) faced net sells of HKD 1.147 billion, HKD 843 million, and HKD 553 million, respectively