"Hong Kong Stocks" Hang Seng Index fell 242 points in the half-day, with technology investment stocks leading the decline, while domestic property and WuXi AppTec stocks performed well

U.S. non-farm payroll data for January far exceeded expectations, with the unemployment rate unexpectedly dropping to 4.3%. Market expectations for a rate cut by the Federal Reserve have cooled, and the Dow Jones Industrial Average closed down 66 points or 0.13% on Wednesday (11th). Hong Kong stocks were under pressure in the morning session, with the Hang Seng Index opening down 55 points, briefly falling below the 27,000 mark, and hitting a low of 26,977 points, down 289 points at one point. It closed at 27,023 points, down 242 points or 0.9%; the National Index fell 89 points or nearly 1%, closing at 9,178 points; the Hang Seng Tech Index dropped 92 points or 1.7%, closing at 5,407 points.

The Beijing Municipal Market Supervision Administration interviewed 12 third-party online train ticket sales platforms, including Trip.com (09961.HK), Tongcheng (00780.HK), Meituan (03690.HK), and JD.com (09618.HK). Trip.com fell 4.3% in the morning session, Meituan also dropped 4.2%, while Tongcheng and JD.com fell 1.6% and 1.4%, respectively.

In other tech stocks, NetEase (09999.HK) reported net profit and non-GAAP net profit for the last quarter both fell short of expectations, with its stock price dropping 3.8% in the morning session. Alibaba (09988.HK) continues to invest in Taobao Flash Sale, not worrying about losses for three years, but its stock price fell 2.1% to close at HKD 156.7. Tencent (00700.HK) fell 2.6%. Baidu (09888.HK) dropped 3.5%, and Bilibili (09626.HK) fell 3.6%. Kuaishou (01024.HK) and (00992.HK) fell 2.3% and 1.9%, respectively. In contrast, SenseTime (00020.HK) rose 5.2%.

Zhizhu (02513.HK) released its next-generation flagship model GLM-5, and the overall increase in the GLM Coding Plan package is at least 30%. Its stock price surged 24.8% to close at HKD 390, with a transaction volume of HKD 1.42 billion. Xiaomi (01810.HK) launched its first-generation robot VLA large model, but its stock price fell 0.9%. It is reported that WeRide (00800.HK) plans to launch global autonomous taxis by the end of the year, with its stock price dropping 4.6%.

The State Administration for Market Regulation issued guidelines to regulate promotional and pricing behaviors in the automotive industry, with Li Auto (02015.HK) and Geely (00175.HK) falling 0.9% and 0.6%, respectively. BYD (01211.HK) remained flat at HKD 99.15 at noon. Dongfeng (00489.HK) has met all "prerequisites" for the privatization and spin-off listing of Voyah, with its stock price rising 2.4%. Nio (09866.HK) rose 0.2%.

Vanke (02202.HK) rose over 5.2%, as it was reported that the Shenzhen municipal government is planning an 80 billion RMB rescue plan. Other domestic property stocks such as Xinyuan China (03301.HK) rose 3.7%, Country Garden (02007.HK) rose 1.8%, and Longfor (00960.HK) rose 0.6%.

In the financial sector, HSBC (00005.HK) fell 0.6%, Hong Kong Exchanges and Clearing (00388.HK) fell 1.6%, and AIA (01299.HK) fell 1.3%.

WuXi AppTec (02359.HK) rose nearly 4% in the morning session, making it the best-performing blue-chip stock. Nomura expects its revenue this year to exceed market expectations, raising the target price to HKD 157.07. Its affiliate WuXi Biologics (02269.HK) also rose 3.7%, with Nomura raising its target price to HKD 50.54, indicating that its preliminary annual performance exceeds expectations In terms of performance, Budweiser APAC (01876.HK) fell nearly 5% in the half-day session, making it the worst-performing blue-chip stock; the company's net profit last year was USD 489 million, down 32.6%, with a final dividend maintained at 5.66 cents. Manulife (00945.HK) reported a 3% increase in core earnings to CAD 7.5 billion last year, with a dividend of CAD 0.485, and its stock price fell 0.5% in the half-day session. NetEase Music (09899.HK) saw a 76% year-on-year increase in net profit for the full year, but UBS indicated that the company's core music revenue is slowing, leading to a 11.9% drop in its stock price for the day.

It is reported that Apple's (AAPL.US) Siri upgrade plan has encountered further setbacks, causing Sunny Optical (02382.HK) to drop 3.2%. Q Technology (01478.HK) also fell 2.6%, despite a 19.5% year-on-year increase in smartphone camera module sales in January. Additionally, New World Development (00016.HK) rose 2.8% against the market trend