"Hong Kong Stocks" The Hang Seng Index rose 0.5% in the half-day session, reaching a new high in over four and a half years, while property stocks surged, and Sands China faced pressure

The Hong Kong stock market rose in the morning session, driven by property stocks. The Hang Seng Index opened down 199 points, initially falling 215 points to 27,611 points before rebounding, reaching a high of 27,981 points, a new high in over four and a half years, up 148 points or 0.5% at midday, reported at 27,975 points; the National Index rose 43 points or 0.5%, reported at 9,555 points; the Hang Seng Tech Index fell 39 points or 0.7%, reported at 5,860 points. The total turnover of the market at midday was HKD 171.954 billion.

It was reported that several property companies are no longer required to report the "three red lines" indicators monthly, leading to a significant rise in property stocks. Aoyuan (03883.HK), Longfor (03380.HK), Sunac (01918.HK), Kaisa (01638.HK), Hopson Development (01813.HK), and Shimao (00813.HK) rose between 26% and 34%. CIFI (00884.HK), Country Garden (02007.HK), Agile (03383.HK), R&F (02777.HK), and China Oceanwide (03377.HK) rose between 15% and 21%. Yuexiu Property (00123.HK), Vanke (02202.HK), New World (01030.HK), and Greentown (03900.HK) rose between 9% and 12%. Longfor (00960.HK) rose 5.6%. Property management stocks Wanwu Cloud (02602.HK) and Bifang (06098.HK) rose 4.2% and 4%, respectively. Additionally, Mingyuan Cloud (00909.HK) and Beike (02423.HK) rose 5.4% and 7.5%.

Sands China (01928.HK) reported a 6.5% increase in adjusted property EBITDA for the fourth quarter of last year, while Citi indicated that the company's EBITDA profit margin fell by 2.7 percentage points to 29.6% last quarter, causing Sands China's stock price to drop 7.3% to HKD 17.47. Galaxy Entertainment (00027.HK) fell 3.5%. New Oriental (09901.HK) is expected to see quarterly revenue increase by 11% to 14%, raising its full-year forecast, with its stock price rising 4%. Oriental Selection (01797.HK) turned a mid-term loss into a profit of HKD 239 million, with its stock price rising 11.4%.

Gold prices approached USD 5,600. Silver prices hit a record high, with China Silver (00815.HK) retracting 7.4%. Zijin (02899.HK) rose 4%. Resource stocks Jiangxi Copper (00358.HK) and Minmetals Resources (01208.HK) rose 5.2% and 4.5%, respectively. Gold retail stock Laopu Gold (06181.HK) retracted 5.1%.

In other tech stocks, Tencent (00700.HK) and Baidu (09888.HK) rose 0.4% and 0.3%, respectively, while Alibaba (09988.HK) and Bilibili (09626.HK) fell 0.2% and 0.6%. Meituan (03690.HK) closed flat at HKD 98.35, Kuaishou (01024.HK) rose 1.5%, while JD.com (09618.HK) and NetEase (09999.HK) fell 1.8% and 2.1%, respectively AI stock Yunzhisheng (09678.HK) rose 3.4%, Inspur Intelligent (03696.HK) and MINIMAX (00100.HK) rose 8.9% and 6.1%. Weimob (02013.HK) rose 3.3%, as the company recently launched the "AI fitting" feature. Chipmaker SMIC (00981.HK) fell 1.8%, Hua Hong (01347.HK) and Bairun (06082.HK) fell 2.9% and 3.3%, while chip equipment stock ASMPT (00522.HK) fell 4.9%. Mobile component supplier GoerTek (01415.HK) fell 4.4%, and robotics stock Yujian (02432.HK) fell 3%. In the automotive sector, BYD (01211.HK) fell 1.3%, Xiaomi (01810.HK) rose 1.5%, Leapmotor (09863.HK) and XPeng (09868.HK) fell over 2%, and Nio (09866.HK) fell 4%.

The Ministry of Industry and Information Technology held a symposium for entrepreneurs in the photovoltaic industry, urging the industry to resolutely break the "involution" competition. GCL-Poly Energy (03800.HK) fell 0.9%, while Xinyi Solar (00968.HK) rose 1.2%.

In the financial sector, HSBC (00005.HK) and Hong Kong Exchanges and Clearing (00388.HK) rose 0.7%, AIA (01299.HK) and Ping An (02318.HK) rose 1.9%, while China Construction Bank (00939.HK), Agricultural Bank of China (01288.HK), and Bank of China (03988.HK) rose between 1.1% and 1.5%.

Yuehai Investment (00270.HK) expects a 43% year-on-year increase in consolidated profit for the year, with its stock price rising 5%. Nine Dragons Paper (02689.HK) expects a mid-term profit increase of up to 2.3 times year-on-year, with its stock price rising 8.6%. OSL Group (00863.HK) recorded a large block trade of 104.7 million shares at a price of HKD 14.9 per share, totaling HKD 1.49 billion. The stock fell 6.7% to HKD 16.8