I'm LongbridgeAI, I can summarize articles.The Hang Seng Index opened down 133 points, reporting at 25,583 points. Swire sold 2.52% of Cathay Pacific's shares, totaling 153 million shares, at a placement price of HKD 11.74 per share, which is about 9.6% lower than yesterday's closing price. Swire's stock price opened up 4.1%, while Cathay Pacific fell 3%. The three major U.S. stock indices all dropped over 1%, with the Dow Jones closing down 739 points, and Morgan Stanley and Goldman Sachs' stock prices falling over 4%. The situation in the Middle East is tense, with Brent crude oil closing above USD 100 per barrel for the first time
The situation in the Middle East remains tense, with all three major U.S. stock indices falling over 1%. The Dow Jones Industrial Average closed down 739 points or 1.56%, at 46,677 points; the S&P 500 dropped 103 points or 1.52%, at 6,672 points; the Nasdaq fell 404 points or 1.78%, at 22,311 points; the Golden Dragon Index, reflecting the performance of Chinese concept stocks, retreated 1.02%, at 7,094 points.
Morgan Stanley and Cliffwater have restricted redemptions from their private equity funds, triggering a new round of sell-offs in large banks and alternative asset management companies. Morgan Stanley's stock price fell 4.1% at close, Goldman Sachs dropped 4.4%, making it the largest decliner among Dow components, Citigroup fell over 3%, and Blue Owl and KKR declined by 4.5% and 3.7%, respectively. Additionally, Deutsche Bank disclosed its exposure in the private credit market reached €26 billion, causing its stock price to drop over 5%.
The U.S.-Iran war has entered its 13th day, with both Trump and Iran's new Supreme Leader Mujtaba sending strong signals. Mujtaba stated that he would not give up on revenge, and the Strait of Hormuz will remain closed. Trump posted on social media that preventing Iran from acquiring nuclear weapons is "far more important than oil prices." Brent crude oil closed above $100 per barrel for the first time in 13 months.
In addition to energy issues, the $1.8 trillion private credit problem continues, with reports that Morgan Stanley and Cliffwater LLC's private credit funds have been forced to limit withdrawals due to a surge in redemption requests. Bank stocks fell, with Morgan Stanley and Goldman Sachs dropping over 4%. Blue Owl and KKR saw declines of 4.5% and 3.7%, respectively.
In the Hong Kong stock market, the Hang Seng Index opened down 133 points, at 25,583 points.
Swire Properties (019) placed 2.52% of Cathay Pacific Airways (293) shares, totaling 153 million shares, at a placement price of HKD 11.74 per share, approximately 9.6% lower than Cathay's closing price of HKD 12.99 yesterday (12th). Swire opened up 4.1% this morning, while Cathay fell 3%.
Li Auto (2015) dropped 1.71%. The company reported an adjusted profit of RMB 274 million for the fourth quarter, a sharp decline of 93.2% year-on-year.
Mao Kee Kwai Chung (1716), the parent company of "100 Mao," resumed trading and fell 2.47%. The company officially announced the sale of 65% of its shares held by major shareholders Yao Jiahao (A Bu) and Lu Jiajun (Chen Qiang) to mainland environmental technology businessman Ma Liyang at a price of HKD 0.6963 per share, totaling HKD 122 million. This transaction triggered a mandatory takeover, allowing the remaining 35% shareholders to sell their shares to the new buyer.
Regarding the movement of northbound capital, on Thursday, net purchases of Hong Kong stocks amounted to HKD 11.283 billion. The Tracker Fund (2800), China National Offshore Oil (883), and Semiconductor Manufacturing International Corporation (981) saw net purchases of HKD 4.701 billion, HKD 1.238 billion, and HKD 317 million, respectively; Tencent (700), Alibaba (9988), and Goldwind Technology (2208) experienced net sales of HKD 480 million, HKD 429 million, and HKD 34.86 million, respectively