U.S. President Donald Trump warned Iran to open the Strait of Hormuz within 48 hours, or military action would be taken, escalating tensions in the Middle East once again. Analysts indicate that there are no signs of normal operations resuming in the Strait of Hormuz, and with the Hong Kong stock market still in a downward trend in the short term, the Hang Seng Index may fall below 25,000 points.The Hang Seng Index opened down 488 points this morning, at 24,789 points. Technology stocks were generally under pressure, with Tencent (700) launching the WeChat &#34;ClawBot&#34; plugin, supporting integration with OpenClaw, but the stock price fell 2% at market opening; Alibaba (9988) also dropped 2.3%; Meituan (3690) and Xiaomi (1810), which are set to report earnings this week, fell 1.7% and 0.9% respectively; JD.com (9618) declined by 1.9%. Additionally, Baidu (9888) launched DuMate, the first domestically produced enterprise-level lobster product, but its stock price fell over 4%.In individual stock news, CHIFENG GOLD (6693) received investment from Zijin Mining, becoming its largest single shareholder, but its stock price plummeted nearly 19%. The largest single shareholder, Li Jinyang, will sell 240 million A-shares for a total consideration of approximately 10 billion RMB; at the same time, the group will place 311 million shares to Zijin Mining at a subscription price of 30.19 yuan per share, a discount of over 28% compared to the closing price of 30.19 yuan before the suspension, with a total consideration of approximately 9.386 billion yuan. After completion, Li Jinyang will clear all holdings.Other gold-related stocks also faced pressure, with Zijin (2899) down over 5%; its subsidiary Zijin Gold International (2259) down 2.3%; Shandong Gold (1787) down 4.5%; and Zhaojin (1818) down 4.3%.Leung Kit Man, investment manager at Hong Kong Securities, stated that the external situation is currently poor, and recent blue-chip earnings performance has also been unsatisfactory. There are no positive news for the Hong Kong stock market at the moment, and the outlook for the future is conservative, predicting that the Hang Seng Index may fall below 25,000 points next week, with weak rebound strength.Zeng Yongjian, vice chairman of the Hong Kong Stock Analysts Association, stated that there are still no signs of normal operations resuming in the Strait of Hormuz, and the Hong Kong stock market remains in a downward trend in the short term. If the Hang Seng Index falls below the psychological level of 25,000 points, the next key support level will be between 24,500 and 24,600 points. He continued to point out that the market is worried that the continued deterioration of the Middle East situation could trigger a chain reaction, including an energy supply crisis, disruptions in the petrochemical industry chain, and even the possibility of the U.S. Federal Reserve restarting interest rate hikes.He also mentioned that the economic issues in mainland China are mainly dragged down by the real estate market, particularly with consumer confidence severely damaged. Even if the People's Bank of China lowers the reserve requirement ratio or interest rates, it can at most bring a fleeting technical rebound to the mainland and Hong Kong stock markets, failing to reverse the market's pessimistic expectations for China's economic outlook.On the other hand, this week will see the earnings reports of major stocks Meituan (3690) and Xiaomi (1810). Zeng Yongjian stated that Tencent (700) and Alibaba (9988), as the most anticipated technology stocks in the market, have disappointed with their mediocre or poor earnings performance. Although there are still earnings reports coming from technology stocks like Meituan and Xiaomi, the market does not hold high expectations for them, meaning that even if individual companies' earnings slightly exceed expectations, it will be difficult to change the overall weakening trend of the Hong Kong stock marketLiang Jiewen pointed out that if the upcoming blue-chip stock performances are poor, it will further worsen the current situation of Hong Kong stocks. In addition, new consumer stocks such as Lao Pu Huang Jin (6181), Pop Mart (9992), and Mixue Group (2097), as well as domestic bank stocks like China Construction Bank (939) and Industrial and Commercial Bank of China (1398), will also release their earnings reports this week.On the external front, the G7 foreign ministers' meeting will be held this Thursday and Friday to seek diplomatic solutions to the Middle East conflict; at the same time, the latest U.S. initial jobless claims, March manufacturing and services PMI indices will be announced throughout this week

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The Hang Seng Index opened 488 points lower this morning, reporting at 24,789 points, with tech stocks generally under pressure, as Tencent and Alibaba's stock prices fell by 2% and 2.3%, respectively. CHIFENG GOLD resumed trading and dropped 19% due to its largest shareholder planning to sell shares. Analysts pointed out that Hong Kong stocks are still in a downward trend in the short term, predicting that the Hang Seng Index may fall below 25,000 points, with a conservative outlook for the market

- U.S. President Donald Trump warned Iran about military action if the Strait of Hormuz is not opened within 48 hours, escalating tensions in the Middle East.  
- The Hang Seng Index opened down 488 points at 24,789, with major tech stocks like Tencent and Alibaba experiencing declines; further risks are anticipated if the index falls below 25,000.  
- Analysts predict that ongoing geopolitical issues and poor corporate earnings will hinder market recovery, with upcoming earnings reports from Meituan and Xiaomi lacking high expectations amid pessimism regarding China's economic outlook.

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The Hang Seng Index opened down 488 points, tech stocks under pressure, Tencent and Alibaba fell over 2%, and CHIFENG GOLD resumed trading down 19% | Hong Kong stock market opens