"Hong Kong Stocks" The Hang Seng Index opened 133 points lower, OOIL fell 3% after earnings, oil stocks and coal stocks rose

Iran claims that the Strait of Hormuz remains closed, and Hong Kong stocks opened lower in the morning. The Hang Seng Index opened down 133 points or 0.5%, at 25,583 points; the National Index opened down 28 points or 0.3%, at 8,670 points; the Hang Seng Tech Index opened down 21 points or 0.4%, at 5,006 points.

In the tech sector, Tencent (00700.HK) opened flat at HKD 546.5, Alibaba (09988.HK) opened down 0.2% at HKD 131.3, JD.com (09618.HK) opened flat at HKD 109.5, Meituan (03690.HK), Bilibili (09626.HK), and Kuaishou (01024.HK) opened down 0.9% to 1.1%, while NetEase (09999.HK) opened up 1.9%. Baidu (09888.HK) saw its mobile lobster "sell out" instantly, with the founder of OpenClaw expressing willingness to co-develop; Baidu opened down 0.3% with the market. AI stock Zhizhu (02513.HK) opened down 0.7%, while MiniMax (00100.HK) opened up 1.5%.

In the chip sector, SMIC (00981.HK) and Hua Hong (01347.HK) opened down 0.8% and 1%, respectively, while mobile component stock BYD Electronics (00285.HK) opened down 1.5%.

It is reported that Stellantis intends to introduce Chinese car manufacturers for its European business, having previously contacted Xiaomi (01810.HK) and XPeng (09868.HK); Xiaomi and XPeng opened flat at HKD 33.3 and HKD 78.45, respectively, while Leapmotor (09863.HK) opened up 0.3%. Other car stocks, Geely (00175.HK) and BYD (01211.HK), opened down 1% and 0.7%. Li Auto (02015.HK) reported a non-GAAP net profit of RMB 2.38 billion last year, a decline of over 77%, with its stock opening down 1.7% at HKD 68.95.

Brent crude oil rose back above USD 100, with PetroChina (00857.HK) and CNOOC (00883.HK) opening up 1.2% and 1.4%, respectively, while coal stock Shenhua (01088.HK) opened up 2.1%. Market expectations for interest rate cuts weakened, leading to a 1% drop in gold prices; Zijin (02899.HK) opened down 1.5%, while Shandong Gold (01787.HK) and Zhaojin (01818.HK) opened down 0.7% and 1%.

Swire plans to place Cathay Pacific (00293.HK) shares at a discount of over 9%, raising a net of HKD 1.79 billion for 2.52% of the shares. Swire A (00019.HK) opened up 4.2% at HKD 86.15, while Cathay opened down 3% at HKD 12.6. Swire indicated that this placement will restore its shareholding in Cathay Pacific to historical levels before the off-market share buyback from Qatar Airways Group Q.C.S.C. was completed, and the company remains confident and committed to Cathay Pacific.

Orient Overseas (00316.HK) reported a full-year net profit of USD 1.513 billion, down 41%, with a final dividend of 42 cents; its stock opened down 3.4% at HKD 148.9. Labubu collaborated with Sanrio to launch a new blind box, which sold out online in one minute; Pop Mart (09992.HK) opened down 1.4% In terms of financial stocks, HSBC (00005.HK) opened down 2.4% at HKD 125.8, Hong Kong Exchanges and Clearing (00388.HK) opened down 0.7%, and AIA (01299.HK) opened down 1.2%