"Hong Kong Stocks" Hang Seng Index futures settlement day down 109 points, CKH HOLDINGS up, CATL down over 5%

AASTOCKS
2026.02.26 04:38

On the settlement day of Hong Kong stock index futures, the market opened high but fell. The Hang Seng Index opened 254 points higher but then dropped, once falling 201 points to a low of 26,563 points, closing down 109 points or 0.4% at 26,656 points; the National Index fell 117 points or 1.3% to 8,917 points; the Hang Seng Tech Index fell 89 points or 1.7% to 5,171 points. The total turnover of the market for the half day was HKD 130.935 billion.

CK Infrastructure (01038.HK) led a consortium to sell the UK power distribution company UKPN, with an enterprise value estimated at HKD 176.8 billion, and its stock price rose 5.5%. CKH HOLDINGS (00001.HK) and POWER ASSETS (00006.HK) rose 3.8% and 5.3%, respectively, while Cheung Kong (01113.HK) rose 2.2%. HSBC (00005.HK) rose 2.1% to HKD 145.7 this morning.

In the tech sector, Haitong International reported a significant cut in Alibaba's (09988.HK) quarterly net profit forecast, citing weak performance in customer management revenue last quarter, causing Alibaba to drop 2.1% to HKD 145.2, with a half-day turnover exceeding HKD 6.4 billion. Baidu (09888.HK) announced its quarterly results after the market closed, and its stock fell 2.6%. Tencent (00700.HK) fell 0.8%, while Meituan (03690.HK), NetEase (09999.HK), JD.com (09618.HK), Kuaishou (01024.HK), and Bilibili (09626.HK) fell between 1.5% and 2.4%. New Oriental (09901.HK) and Dongfang Zhenxuan (01797.HK) fell 4.1% and 4.9%, respectively.

In the chip sector, SMIC (00981.HK) and Hua Hong Semiconductor (01347.HK) fell 1.5% and 5%, respectively, while Tianxu Zhixin (09903.HK) surged 11.9%. In the AI sector, Zhiyun (02513.HK) and MiniMax (00100.HK) rose 1.1% and 3.3%, with MiniMaxAgentExpert's functionality upgraded and MaxClaw launched simultaneously. Robotics stocks, including Youjiang (02432.HK) and UBTECH (09880.HK), fell 3% and 4.5%. In the wire sector, Changfei Optical Fiber (06869.HK) rose 4.6%. In the power equipment sector, Dongfang Electric (01072.HK) and Harbin Electric (01133.HK) surged 17.1% and 6.1%, respectively.

Zimbabwe has implemented a ban on lithium mining, leading to a rise in lithium futures, with Tianqi Lithium (09696.HK) and Ganfeng Lithium (01772.HK) rising 3.4% and 3.8%, respectively, while battery stocks CATL (03750.HK) and Zhongxin Innovation (03931.HK) fell 5.5% and 8.1%. Automotive stocks were affected, with BYD (01211.HK), Leapmotor (09863.HK), Seres (09927.HK), and Chery (09973.HK) falling over 2%, while XPeng (09868.HK) and Li Auto (02015.HK) fell 3.2% and 4%, respectively. Xiaomi (01810.HK) fell 0.2%. Automotive dealer Zhongsheng (00881.HK) saw Goldman Sachs cut its profit forecasts for last year and this year by 40%, causing its stock price to plummet 9.7% Hong Kong Stock Exchange (00388.HK) announced its performance at noon, falling 0.8% before earnings. The Insurance Authority optimized the risk-based capital system for insurance companies, adjusting risk parameters for general insurance business and reducing capital requirements for infrastructure investments. AIA (01299.HK) rose 2%, Bank of China Hong Kong (02388.HK) rose 3.1%. Standard Chartered (02888.HK) rebounded 1.7%. Domestic insurance stocks China Taiping (00966.HK), PICC (01339.HK), Ping An (02318.HK), Taikang (02601.HK), and China Life (02628.HK) fell 2.9% to 3.4%, while brokerage stocks Cathay Securities (02611.HK) and CICC (03908.HK) each fell over 3%.

Mainland China will release and implement a new energy system and a series of energy planning in various sectors. Wind power stock Goldwind (02208.HK) rose 7%, while uranium mining stock CGN Mining (01164.HK) fell 3.5%. Conch Cement (00914.HK) recorded a large block trade before the market opened, involving over 77 million shares at a price of HKD 25.7 per share, totaling HKD 2 billion. The stock fell 7% to HKD 24.82. Conch Venture (00586.HK) rose 3.7%. China National Building Material (03323.HK) and SANY Heavy Industry (06031.HK) fell 3.1% and 4.5%, respectively.

Travel platform Trip.com (09961.HK) reported a 95% increase in net profit last year, but the stock fell 3.2%. Gaming stock Galaxy Entertainment (00027.HK) announced its performance at noon, with the stock falling 4.6% before earnings, while peer Melco International (00200.HK) fell 5.2%. Domestic real estate agency Beike (02423.HK) fell 4.9%, with a UBS report indicating that Shanghai's relaxation of housing market measures significantly lowered social security thresholds, but is expected to have limited impact on transaction stimulation. In other stocks, Miniso (09896.HK) and Mengniu (02319.HK) fell 4.3% and 3%, respectively, while pharmaceutical stocks BeiGene (06160.HK) and Ascletis (02096.HK) fell 5.5% and 5%. Real estate stock New World Development (00016.HK) rebounded 2.9%

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