1215: With high oil prices, the Hang Seng Index opened down 179 points this morning, briefly rising 34 points to a high of 25,932 points, but then quickly turned downwards, falling deeper. The Hang Seng Index closed at 25,579 points, down 319 points or 1.23%, with a turnover of HKD 131 billion; the Tech Index closed at 4,993 points, down 60 points or 1.21%.
<h2>Alibaba and Tencent Drive Market Decline</h2>
Among the heavyweight blue-chip stocks, Alibaba (9988) and Tencent (700) fell 2.25% and 1.09% respectively, along with HSBC (005) which dropped 0.8%, contributing to the decline of the Hang Seng Index. In contrast, with rising oil prices, CNOOC (883) and PetroChina (857) rose 3.4% and 2.4% respectively, supporting the broader market.
<h2>Copper Prices Drop, Luoyang Molybdenum Falls Over 5%</h2>
In terms of stock price fluctuations, Luoyang Molybdenum (3993) fell 5.5%, making it the worst-performing blue-chip stock, while Nongfu Spring (9633) and CSPC Pharmaceutical (1093) also dropped over 5%. Amid concerns that rising oil prices would trigger a decline in copper prices, besides Luoyang Molybdenum, MMG (1208) and Jiangxi Copper (358) also fell over 3% and 0.3% respectively.
<h2>Middle East Conflict Affects Aluminum Supply Outlook</h2>
However, aluminum stocks continued to perform strongly, with CHINAHONGQIAO (1378) rising 3.8% to HKD 40, making it the best-performing blue-chip stock, and approaching the historical high of HKD 41.36; peers such as Chalco (2600) and Rusal (486) rose over 5%. On the news front, the escalating conflict in the Middle East has worsened the supply outlook for the region, pushing aluminum prices to their highest levels in nearly four years.
CICC's report pointed out that the aluminum supply-demand gap is widening and the US-Iran conflict has increased vulnerabilities, combined with the resonance of proactive global fiscal and monetary policies, aluminum prices are expected to reach new highs; at the same time, considering the rebound in energy and alumina prices, it is recommended to focus on targets with high self-sufficiency in electricity and alumina, recommending attention to Nanshan Aluminum International (2610), CHINAHONGQIAO, and Aluminum Corporation of China.
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0925: International oil prices are approaching USD 100 again, and the Hong Kong stock market opened lower, with the Hang Seng Index opening down 179 points at 25,719 points. Tencent (700) launched the HaS Anonymizer for data security protection regarding &#34;lobster&#34; data, with features including privacy scanning, privacy desensitization, document desensitization, image desensitization, and privacy restoration; at the same time, Tencent Cloud announced a price increase for the Hunyuan model Token. The stock opened at HKD 550.5, down 0.27%.
Other tech stocks also generally declined, with Alibaba (9988) down 1.95%; Meituan (3690) down 1.16%; Xiaomi (1810) down 0.78%; Baidu (9888) down 0.66%, while JD.com (9618) rose 0.28%. As for MINIMAX (100) and Zhitu (2513), they rose 1.7% and 2.5% respectively.
With the rebound in oil prices, oil stocks rose against the trend, with CNOOC (883) up 1.85%; PetroChina (857) up 1.62%; and Sinopec (632) rising nearly 9%;
In the oil service sector, Shandong Molong (568) opened up nearly 15%, and Baqian Oil Services (2178) also rose over 8%.
However, the market is concerned that rising oil prices may trigger inflation and interest rate hike expectations. Gold prices fell 0.5% to USD 5,154 this morning, and gold-related stocks slightly declined, with Zijin (2899) down 0.65%; Zhaojin (1818) down 1%; and Shandong Gold (1787) also down 0.15%.
In individual stock news, Guotai Junan International (1788) announced this morning that the Securities and Futures Commission and the Independent Commission Against Corruption visited the company's main business location in Hong Kong on Tuesday (10th) to execute a search warrant and took away some documents; at the same time, an employee who is not a board member was detained by the ICAC for investigation. The company takes this matter very seriously and will continue to closely monitor the developments. The stock opened at HKD 2.51, down over 4%.
Regarding the northbound capital flow, there was a net purchase of HKD 3.448 billion in Hong Kong stocks yesterday, with CNOOC (883), Alibaba (9988), and Geely Automobile (175) receiving net purchases of HKD 1.039 billion, HKD 698 million, and HKD 532 million respectively; while Tencent (700), China Construction Bank (939), and Industrial and Commercial Bank of China (1398) faced net sales of HKD 2.435 billion, HKD 826 million, and HKD 185 million respectively.
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0855: U.S. President Trump stated that there are &#34;almost no targets left to strike&#34; in Iran, and the conflict is &#34;about to end,&#34; but U.S. and Israeli officials have indicated that no internal orders to cease military operations have been received yet. In addition, member countries of the International Energy Agency (IEA) plan to release a total of 400 million barrels of oil reserves globally, the largest scale in history, with the U.S. planning to release 172 million barrels.
<h2>Iraqi Oil Tankers Encounter Unidentified Attack</h2>
However, according to foreign media reports, Iran indicated that as its military attacked commercial ships on Wednesday, the world should prepare for oil prices to reach USD 200. On the other hand, Iraqi officials stated that two foreign oil tankers carrying Iraqi fuel oil encountered an unidentified attack within Iraqi territorial waters, resulting in a fire, with one crew member deceased. This news stimulated international oil prices to rise, with Brent crude oil rising over 7% to USD 98.58, and WTI crude oil rising over 6% to USD 92.89.
The three major U.S. stock indices saw developments on Wednesday, with the Dow Jones down 289 points or 0.61%, closing at 47,417 points; the S&amp;P 500 index down 5 points or 0.08%, closing at 6,775 points; and the Nasdaq up 19 points or 0.08%, closing at 22,716 points. As for the Golden Dragon Index, which reflects the performance of Chinese concept stocks, it fell 0.77% to 7,167 points on Wednesday. In the Asia-Pacific stock market, the Nikkei 225 index temporarily fell 1.3% to 54,309 points; the Korea Composite Stock Price Index slightly fell 0.01% to 5,609 points

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The Hang Seng Index closed at 25,579 points, down 319 points or 1.23% for the half-day. Alibaba and Tencent fell 2.25% and 1.09% respectively, dragging down the Hang Seng Index. Oil prices rose, with CNOOC up 3.4%, supporting the market. Aluminum stocks were strong, with CHINAHONGQIAO rising 3.8%, approaching a historical high. The Middle East conflict has affected aluminum supply, pushing aluminum prices to nearly a four-year high. A report from China International Capital Corporation indicated that the aluminum supply-demand gap is widening and suggested focusing on targets with high self-sufficiency rates in electricity and alumina

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The Hang Seng Index fell 319 points in the half-day session, with strong performance in the oil and aluminum sectors. CNOOC rose over 3%, and CHINAHONGQIAO approached a new high | Hong Kong stock market opens