"Hong Kong Stocks" Hang Seng Index futures settlement day closed down 384 points, with declines in technology, automotive, consumer, and pharmaceutical stocks

AASTOCKS
2026.02.26 08:46

On the settlement day of Hong Kong stock index futures, the market opened high but fell throughout the morning. The Hang Seng Index opened up 254 points but then declined, closing down 384 points or 1.4% at 26,381 points, with a low of 26,373 points during the day; the National Index fell 220 points or 2.4%, closing at 8,814 points; the Hang Seng Tech Index dropped 151 points or 2.9%, closing at 5,109 points. The total turnover for the day was HKD 259.277 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 4.5%. Cheung Kong (00001.HK) and Power Assets (00006.HK) rose 4.5% and 3.8%, respectively, while CK Asset Holdings (01113.HK) increased by 3%.

In the financial sector, HSBC (00005.HK) rose 1.6% to HKD 145. Hong Kong Exchanges and Clearing (00388.HK) reported a 36% increase in profit last year and announced a second interim dividend, with its stock price rising 0.8%. The Insurance Authority optimized the risk-based capital regime for insurance companies, adjusting risk parameters for general insurance business and reducing capital requirements for infrastructure investment, leading to a 0.2% increase in AIA (01299.HK). Domestic insurance stocks China Pacific Insurance (00966.HK), Ping An (02318.HK), Taikang Life (02601.HK), and China Life (02628.HK) fell between 3.5% and 4.1%, while PICC (01339.HK) dropped 5.5%. Brokerage stocks Cathay Securities (02611.HK) and CICC (03908.HK) fell 6.4% and 4.5%, respectively.

In the technology sector, Haitong International reported a downgrade in Alibaba's (09988.HK) quarterly net profit forecast, citing weak customer management revenue in the previous quarter, causing Alibaba's stock to drop 3.6% with a turnover exceeding HKD 14.3 billion. Baidu (09888.HK) announced its quarterly results after the market closed, with its stock falling 4.3%. Tencent (00700.HK) declined by 2%, while Meituan (03690.HK), NetEase (09999.HK), and JD.com (09618.HK) fell between 1.9% and 2.7%. Kuaishou (01024.HK), Bilibili (09626.HK), Alibaba Health (00241.HK), China Literature (00772.HK), and GDS Holdings (09698.HK) dropped between 4% and 4.8%, while New Oriental (09901.HK) and Dongfang Zhenxuan (01797.HK) fell 5.1% and 7.2%, respectively.

In the chip sector, SMIC (00981.HK) and Hua Hong Semiconductor (01347.HK) fell 3.2% and 4.8%, respectively, while Days Intelligent Chip (09903.HK) surged 20.3%. Chip equipment stock ASMPT (00522.HK) rose 3.2%. AI stock MiniMax (00100.HK) increased by 4.6%, with the MiniMax Agent Expert feature upgraded and MaxClaw launched simultaneously. Robotics stocks Yujian (02432.HK) and UBTECH (09880.HK) fell 3.6% and 5.4%, respectively. Wire stock Yangtze Optical Fibre and Cable (06869.HK) rose 3%. Power equipment stocks Dongfang Electric (01072.HK) and Harbin Electric (01133.HK) surged 17.1% and 6.1%, respectively, while Chongqing Machinery (02722.HK) rose 11.2% Zimbabwe implements lithium mine ban, lithium futures rise, Tianqi Lithium (09696.HK) and Ganfeng Lithium (01772.HK) up 0.6% and 2.1%, while battery stocks CATL (03750.HK) and Zhongxin Innovation (03931.HK) down 6.5% and 9.3%. Automotive dealer Zhongsheng (00881.HK) sees Goldman Sachs cut last year's and this year's profit forecasts by 40%, with the stock price dropping 10.8%.

Mainland China will release and implement a new energy system and a series of sector-specific energy plans, with wind power stock Goldwind (02208.HK) up 5.6%. 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 24.84. China National Building Material (03323.HK) down 3.7%.

Travel platform Trip.com (09961.HK) saw a 95% increase in net profit last year, but the stock fell 3.2%. Gaming stock Galaxy Entertainment (00027.HK) reported a 22% increase in annual profit, with the stock down 4.3%, while competitor Melco International (00200.HK) fell 5.9%. Other consumer stocks, including China Duty Free (01880.HK), Haier Smart Home (06690.HK), Pop Mart (09992.HK), and Mengniu (02319.HK) fell between 3.3% and 4.1%, with Miniso (09896.HK) down 5.6%.

Pharmaceutical stocks declined, with Weigao (01066.HK), CSPC Pharmaceutical (01093.HK), China National Pharmaceutical Group (01177.HK), Sanofi (01530.HK), Innovent Biologics (01801.HK), and WuXi AppTec (02359.HK) down 3.8% to 5%, while Xiansheng (02096.HK), WuXi AppTec (02268.HK), WuXi Biologics (02269.HK), and BeiGene (06160.HK) fell 7.4% to 9.2%.

Hysan (00014.HK) reported a 28% increase in basic profit last year, with the second interim dividend unchanged year-on-year, and the stock price fell 6.9%

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