--- title: "The Hang Seng Index opened down 163 points, Alibaba fell 6% after earnings, international oil prices declined, CNOOC dropped 2%, and Shandong Molong fell 7% | Hong Kong stock market opening" type: "News" locale: "en" url: "https://longbridge.com/en/news/279870182.md" description: "The Hang Seng Index opened 163 points lower this morning, reporting at 25,337 points. Alibaba's stock price fell 6.43% to HKD 123.5, as its net profit and revenue both fell short of market expectations. International oil prices rose and then fell, with Brent crude oil closing at USD 108.65. U.S. stock performance was volatile, with the Dow Jones closing down 203 points. Market expectations for a rate cut by the Federal Reserve have weakened, leading to a significant decline in gold and silver prices" datetime: "2026-03-20T01:36:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/279870182.md) - [en](https://longbridge.com/en/news/279870182.md) - [zh-HK](https://longbridge.com/zh-HK/news/279870182.md) --- > Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/279870182.md) | [繁體中文](https://longbridge.com/zh-HK/news/279870182.md) # The Hang Seng Index opened down 163 points, Alibaba fell 6% after earnings, international oil prices declined, CNOOC dropped 2%, and Shandong Molong fell 7% | Hong Kong stock market opening International oil prices rose and then fell on Thursday, while U.S. stocks initially dropped and then stabilized. The Dow Jones Industrial Average fell by as much as 491 points at one point, closing down 203 points or 0.44% at 46,021 points; the S&P 500 fell 18 points or 0.27% to 6,606 points; the Nasdaq fell 61 points or 0.28% to 22,090 points, reflecting a 1% drop in the Golden Dragon Index, which tracks Chinese concept stocks, closing at 6,945 points. Brent crude oil surged to $119.13 on Thursday but fell sharply due to a series of news events, closing at $108.65. Reports indicate that France, the UK, Germany, Italy, the Netherlands, and Japan are preparing to take appropriate measures to ensure the safety of navigation in the Strait of Hormuz. Israeli Prime Minister Benjamin Netanyahu also stated that Israel would suspend airstrikes on Iranian energy facilities. U.S. Treasury Secretary Janet Yellen mentioned in an interview that oil prices could be stabilized by releasing strategic oil reserves and lifting some sanctions on Iranian oil. Additionally, the market expects that the Federal Reserve is unlikely to cut interest rates this year, leading to a sharp drop in gold prices to nearly 4,500, while silver once plummeted by 12%. In the Hong Kong stock market, the Hang Seng Index opened down 163 points at 25,337 points. Tencent (700) fell 1.55% to HKD 505; JD.com (9618) dropped 2.07%; Meituan (3690) rose 1.05%. Alibaba (9988) fell 6.43% after its earnings report, closing at HKD 123.5. The adjusted net profit for the last quarter was RMB 16.71 billion, a year-on-year decrease of 67%; revenue was RMB 284.843 billion, a year-on-year increase of 2%, both missing market expectations. ## Xiaomi opened down 2.25% Xiaomi (1810) officially launched its new generation electric vehicle "Xiaomi SU7." Chairman and CEO Lei Jun stated that the company plans to invest at least RMB 60 billion in areas such as large models, embodied intelligence, and AI applications over the next three years, with this year's R&D and capital investment in AI exceeding RMB 16 billion. The stock opened down 2.25% this morning. CK Hutchison Holdings (001) and Cheung Kong Property Holdings (1113) rose 1.75% and 0.26% respectively after their earnings reports. CK Hutchison reported a basic profit of RMB 22.31 billion for the entire year, a year-on-year increase of 7.1%. The final dividend was HKD 1.602 per share, an increase of 6%. Cheung Kong Property reported a revaluation surplus of RMB 11.96 billion for its investment properties last year, a year-on-year increase of 2.7%. The final dividend was HKD 1.39 per share, a year-on-year increase of 3%. ## Li Ning rose 7% after earnings Li Ning (2331) opened up 7.84%, reporting a profit of RMB 2.94 billion for the entire year, a year-on-year decrease of 2.6%. International oil prices continued to decline this morning, with CNOOC (883) down 2.36% and PetroChina (857) down 0.46%; Shandong Molong (568) fell 7%. Regarding the movement of northbound capital, on Thursday, net purchases of Hong Kong stocks amounted to HKD 26.19 billion. Tracker Fund (2800), Hang Seng China Enterprises (2828), and China Southern Hang Seng Technology (3033) saw net purchases of HKD 14.651 billion, HKD 5.323 billion, and HKD 3.428 billion respectively; Xiaomi Group (1810) and SMIC (981) faced net sales of HKD 872 million and HKD 218 million respectively ### Related Stocks - [BABA-W (09988.HK)](https://longbridge.com/en/quote/09988.HK.md) - [Alibaba Group Holding Limited (BABA.US)](https://longbridge.com/en/quote/BABA.US.md) - [Occidental Petroleum Corporation (OXY.US)](https://longbridge.com/en/quote/OXY.US.md) - [Hang Seng Index (00HSI.HK)](https://longbridge.com/en/quote/00HSI.HK.md) - [HSPC (603353.CN)](https://longbridge.com/en/quote/603353.CN.md) - [Shandong Molong (002490.CN)](https://longbridge.com/en/quote/002490.CN.md) - [CNOOC (00883.HK)](https://longbridge.com/en/quote/00883.HK.md) - [CNOOC (600938.CN)](https://longbridge.com/en/quote/600938.CN.md) - [SHANDONG MOLONG (00568.HK)](https://longbridge.com/en/quote/00568.HK.md) - [Vanguard Energy ETF (VDE.US)](https://longbridge.com/en/quote/VDE.US.md) - 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