"Hong Kong Stocks" The Hang Seng Index rose 598 points in half a day, reaching a high not seen in over four and a half years, with financial, real estate, and commodity stocks rising

The US Dollar Index has fallen to a four-year low, while Hong Kong stocks showed significant gains in the early market. The Hang Seng Index opened 198 points higher and the gains expanded, reaching a peak of 659 points at 27,786, the highest in over four and a half years, closing up 598 points or 2.2% at 27,725; the Hang Seng China Enterprises Index rose 218 points or 2.4% to 9,463; the Hang Seng Tech Index increased by 100 points or 1.7% to 5,854. The total turnover of the market for the half-day was HKD 196.327 billion.

Financial stocks performed well, with HSBC (00005.HK) and BOC HONG KONG (02388.HK) rising 2.7% and 2.9%, Standard Chartered (02888.HK) up 2.1%, Hong Kong Exchanges and Clearing (00388.HK) and AIA (01299.HK) increasing by 1.5% and 1.9%. Domestic bank stocks such as China Construction Bank (00939.HK), Industrial and Commercial Bank of China (01398.HK), and Bank of China (03988.HK) rose between 3.1% and 3.5%. Local property stocks such as Sun Hung Kai Properties (00016.HK) and Henderson Land Development (00012.HK) increased by 3.9% and 3.5%, while Hang Lung Properties (00101.HK) rose 3.1%. Domestic property stocks China Jinmao (00817.HK) and GREENTOWN CHINA (03900.HK) surged 7.9% and 6.7%, with New World Development (01030.HK) up 4.9%, and property management stocks China Resources Mixc (01209.HK) rising 3.8%.

Spot gold broke through USD 5,200, and silver futures surged 7%. Shandong Gold (01787.HK) rose 7.6%, while China Silver (00815.HK), Zhaojin Mining (01818.HK), and Lingbao Gold (03330.HK) increased by 4% to 5.2%. Resource stocks such as Hongqiao Group (01378.HK) and Jiangxi Copper (00358.HK) rose 5.7% and 6.3%, while Aluminum Corporation of China (02600.HK) increased by 10.5%. In the oil sector, Sinopec (00386.HK) rose 3.8%, while PetroChina (00857.HK) and CNOOC (00883.HK) increased by 5.4% and 5.9%, respectively, with CNOOC (02883.HK) also up 5.9%.

The depreciation of the US dollar has spread to state-owned enterprises, with China National Building Material (03323.HK), China Railway (00390.HK), and Conch Venture (00586.HK) rising between 4.5% and 5%, and China General Nuclear Power Corporation (01164.HK) up 8.6%. In the telecommunications sector, China Telecom (00728.HK) and China Unicom (00762.HK) rose 5.3% and 4.5%, while China Mobile (00941.HK) increased by 3.4%.

In the technology sector, Tencent (00700.HK), JD.com (09618.HK), and NetEase (09999.HK) rose between 2.1% and 2.4%, while Kuaishou (01024.HK), Bilibili (09626.HK), and Alibaba Health (00241.HK) increased by 3.3% to 3.5%. Meituan (03690.HK) and Alibaba (09988.HK) rose 1.1% and 1.6%, respectively Baidu (09888.HK) rose 0.4%. In addition, Tencent Music (01698.HK) and Xindong (02400.HK) rose 4.1% and 7%, respectively. AI stock SenseTime (00020.HK) rose 4.1%, Yunzhisheng (09678.HK) surged 33%, and Zhipu (02513.HK) retreated 3.5%. Among chip stocks, SMIC (00981.HK) rose 2.6%, Hua Hong (01347.HK) and Biran (06082.HK) rose 4% and 4.1%, respectively, while NaXinWei (02676.HK) rose 9.9%. Wire stock Changfei Optical Fiber (06869.HK) surged 14%. Meta reportedly spent $6 billion to purchase optical fibers from Corning, triggering a surge in global wire stocks.

In the automotive sector, BYD (01211.HK) and Xiaomi (01810.HK) rose 1.6% and 1.4%, respectively, while Li Auto (02015.HK) and Nio (09866.HK) rose 2.9% and 2.5%. In the pharmaceutical sector, CSPC (01093.HK) rose 4.6%, while Junshi (01877.HK) fell 4.2%. CanSino Biologics (06185.HK) is expected to turn a profit of at least 24.5 million yuan last year, with its stock price falling 3.1%.

In other stocks, China Overseas Property (02669.HK) is expected to see a 9% decline in annual net profit and has had its rating downgraded to "Underweight" by JPMorgan, with its stock price dropping 10.9%. Ganfeng Lithium (01772.HK) forecasts an annual profit of 1.1 billion to 1.65 billion yuan, with its stock price falling 3.5%. Snack chain Mingming Hen Mang (01768.HK) debuted at 403 yuan, up 70% from its listing price of 236.6 yuan.

In addition, Mixue (02097.HK) fell 11%, while Pop Mart (09992.HK) rose 5.6%