--- title: "\"Market Review\" Hang Seng Index gains and loses at 26,000; Alibaba, JD, and pharmaceutical stocks in demand" type: "News" locale: "en" url: "https://longbridge.com/en/news/282817627.md" description: "The Hang Seng Index rose initially before narrowing its gains, ultimately closing at 25,947 points, with the market focusing on the progress of US-Iran negotiations. The Dow Jones and Nasdaq in the US rose by 0.7% and 2%, respectively. Technology stocks performed strongly, with Alibaba and JD.com being favored, rising nearly 3% and 1.4%, respectively. The Hong Kong Stock Exchange rose by 1.7%, while Yangtze Optical Fibre and Cable fell by nearly 5%. The overall market turnover was HKD 245.588 billion, with a net inflow of HKD 4.221 billion from southbound funds" datetime: "2026-04-15T09:08:08.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/282817627.md) - [en](https://longbridge.com/en/news/282817627.md) - [zh-HK](https://longbridge.com/zh-HK/news/282817627.md) --- # "Market Review" Hang Seng Index gains and loses at 26,000; Alibaba, JD, and pharmaceutical stocks in demand U.S. President Trump stated that the war with Iran has ended and there are no plans to extend the ceasefire agreement. Negotiations between both parties may resume in Pakistan within two days. The Hang Seng Index today (15th) initially rose and then narrowed, briefly losing the 26,000 mark. The market is optimistic about a potential agreement in the U.S.-Iran negotiations, with the Dow Jones and Nasdaq rising 0.7% and 2% respectively on the night of the 14th. At the time of writing, the yield on U.S. 2-year bonds rose to 3.755%, while the yield on U.S. 10-year bonds stood at 4.256%. The U.S. dollar index fell to 98.15. Dow futures were down 9 points or 0.02%, while Nasdaq futures were up 38 points or 0.15%. The Shanghai Composite Index rose slightly by less than 1 point, closing at 4,027 points, while the Shenzhen Component Index fell by 1% and the ChiNext Index fell by 1.2%. The total trading volume in the Shanghai and Shenzhen markets was nearly 2.415 trillion yuan. The Hang Seng Index opened high at 295 points, once rising by 344 points to a peak of 26,216 points, and closed up 75 points or 0.3% at a low of 25,947 points for the day; the Hang Seng China Enterprises Index rose by 46 points or 0.5%, closing at 8,718 points; the Hang Seng Tech Index rose by 59 points or 1.2%, closing at 4,911 points. The total trading volume for the market was 245.588 billion HKD. The total trading volume of northbound trading was 106.462 billion HKD, while southbound funds had a net inflow of 4.221 billion HKD today (after a net outflow of 2.017 billion HKD on the previous trading day). Hong Kong Exchanges and Clearing (00388.HK) rose by 1.7%, while Changfei Optical Fiber (06869.HK) fell nearly 5% to close at 205.6 HKD, with a trading volume of 4.11 billion HKD. AI stocks Zhizhu (02513.HK) and MiniMax (00100.HK) retreated by 8.5% and 10.9%, respectively, while CloudWalk (09678.HK) fell by 11.2%. Contemporary Amperex Technology Co., Limited (03750.HK) fell by 0.7% to close at 655.5 HKD, while Tianqi Lithium (09696.HK) and Ganfeng Lithium (01772.HK) both saw their stock prices drop by nearly 5%. 【Alibaba has support, JD.com is favored】 Technology stocks generally rose, with Baidu-SW (09888.HK) up 3.1% to close at 114.5 HKD, Tencent (00700.HK) rising 1.2% to close at 499 HKD, and Meituan-W (03690.HK) and NetEase-S (09999.HK) both rising 1.4%. Alibaba-W (09988.HK) saw its stock price rebound nearly 3.3% to close at 128.6 HKD, with a trading volume of 12.319 billion HKD. Alibaba's subsidiary, Alibaba Cloud, announced a price adjustment for the elasticity 95 feature of DDoS Native Protection 2.0 (annual/monthly), DDoS High Defense (Mainland China), and DDoS High Defense (Non-Mainland China) products starting from July 15 this year. JD.com (09618.HK) saw its stock price rise 4.6% to close at 120.7 HKD, with a trading volume of 2.839 billion HKD. JP Morgan released a research report, reinstating JD.com's "Overweight" rating with a target price of 148 HKD, believing that investors should focus on the upward profit risks in 2026 rather than the downward risks faced by many of its Chinese internet peers The bank stated that the performance in the fourth quarter of last year and the guidance for 2026 demonstrate the resilience of its core business, indicating that the most aggressive investment phase in fast commerce has passed, and international business expansion should be more cautious. The bank raised its revenue forecasts for JD.com for 2026 and 2027 by 1% and 2%, respectively, and adjusted net profit forecasts upward by 13% and 26%, which are 17% and 7% higher than market consensus, mainly reflecting that fast commerce losses were lower than expected. 【One stock rises a thousand, pharmaceutical stocks dance】 Hong Kong stocks today showed a slight weakening in market breadth, with a rise and fall ratio of 27 to 24 for main board stocks (compared to 32 to 19 yesterday), with 1,141 rising stocks (an increase of 3.07%); today, 48 constituent stocks of the Hang Seng Index rose, while 40 fell, with a rise and fall ratio of 53 to 44 (compared to 68 to 32 yesterday); the market recorded short selling of HKD 37.954 billion today, accounting for 18.766% of the total turnover of shortable stocks of HKD 202.254 billion. Mainland China released a plan to improve the drug pricing mechanism and optimize the pricing mechanism for innovative drugs and other first launches, leading to a rise in pharmaceutical stocks. China National Pharmaceutical Group (01177.HK), 3SBio (01530.HK), Kelun Pharmaceutical (06990.HK), Innovent Biologics (01801.HK), CanSino Biologics (09926.HK), and Junshi Biosciences (01877.HK) rose by 5.8% to 8.2%, while Ming En (09606.HK) and Rongchang (09995.HK) rose by 10.8% and 9.1%, respectively. Citi pointed out that the State Council of China has released "Opinions on Reforming the Drug Pricing Mechanism," which is a milestone national guiding document that continues a series of policies encouraging innovation. The bank believes this is the most important central government drug pricing guidance since 2015. The policy aims to allow the market to play a leading role in the drug pricing mechanism. The bank views this as a clear commitment from the government to cultivate a strong and globally competitive domestic pharmaceutical industry. The bank believes that major innovative pharmaceutical or biopharmaceutical companies will be the beneficiaries—including Heng Rui (01276.HK), Shijiazhuang Pharmaceutical (01093.HK), Innovent Biologics, and other multinational companies—these companies have considerable innovative drug sales in China ### Related Stocks - [09988.HK](https://longbridge.com/en/quote/09988.HK.md) - [09618.HK](https://longbridge.com/en/quote/09618.HK.md) ## Related News & Research - [Barclays Sticks to Its Buy Rating for Alibaba (BABA)](https://longbridge.com/en/news/282639893.md) - [Baillie Gifford & Co. Acquires 368,760 Shares of Alibaba Group Holding Limited $BABA](https://longbridge.com/en/news/282645904.md) - [US president Trump reaffirms blockade on Iranian ports starting from later today](https://longbridge.com/en/news/282486745.md) - [Dara Capital US Inc. 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