JP#TENCTRC26082

CCOE

STARCOIN GROUP

ONEFORCE HLDGS

ROYAL DELUXE

STELUX HOLDINGS

TE HEALTHCARE

ASIAPAC FIN INV

WELIFE TECH

DRINDA

TIMELESS

601869

00700

01024

09888

09988

09618

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On February 27th, all three major indices of the Hong Kong stock market closed higher, with the Hang Seng Index rising 0.95% to 26,630.54 points, indicating a moderate recovery in market sentiment. Sector performance was mixed; boosted by demand for AI computing power, Longbridge surged 10.06%, while Cambridge Technology fell 8.28%. Large tech stocks showed varied performance, with Tencent Holdings up 1.17%, Kuaishou down 1.18%, and Alibaba slightly down 0.07%. The current market is in a data vacuum period, with funds maintaining high-level fluctuations and consolidating, awaiting further guidance from macro policies

- On February 27, the Hong Kong stock market closed higher, with all three major indices rebounding after a short-term adjustment, signaling a moderate recovery in market sentiment.  
- The Hang Seng Index rose by 0.95% to 26,630.54 points, indicating strong resistance despite not reaching prior highs, while the Hang Seng Technology Index and the Hong Kong Enterprise Index also increased slightly.  
- Focus shifts to post-holiday liquidity and corporate earnings expectations amidst a lack of key macroeconomic data, with investors eyeing U.S. Federal Reserve policies and mainland growth strategies.

Market Heartbeat

YOFC

TENCENT

KUAISHOU-W

BIDU-SW

BABA-W

JD-SW

MNSO

SANERGY GROUP

MAINLAND HOLD

Tencent Holdings Limited

Hong Kong stock market closing | Hang Seng Index rose 0.95%, stabilizing at 26,600 points, YOFC surged 10.06%, Tencent rose 1.17%

TCEHY

TCTZF

03033

MCHI

Michael Burry warns of vulnerabilities in Chinese tech stocks, highlighting that many investors do not own the companies they believe they are investing in. He points out that shares are often in offshore entities, creating a disconnect between operational success and legal claims. Burry notes that while companies like Tencent have seen revenue growth, their stock performance has stagnated, with almost 0% returns over five years. He emphasizes the need for a deeper examination of these 'Cayman Shell' companies and their structural flaws.

- Michael Burry has warned about the structural issues within Chinese technology stocks, highlighting that investors often hold shares in offshore entities rather than the companies themselves.  
- He points out a concerning disconnect between the operational success of firms like Tencent and their stock performance, with Tencent showing nearly 0% return despite significant revenue growth.  
- Burry suggests that the current situation warrants a closer examination of these investments, emphasizing that traditional valuation methods may overlook critical shifts in the market.

benzinga_article

iShares China Large Cap

Tencent

CSOP HS TECH

FL2 CSOP HSI

iShares MSCI China

FI2 CSOP HSI

Krne Csi China Internet

FI CSOP HSI

Direxion FTSE China Bull 3X

Michael Burry Exposes 'Vulnerability' In Chinese Tech, Warns Of Hong Kong's 'Cayman Islands Shell' Trap

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03088

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Hong Kong tech stocks performed poorly in February 2024, with the Hang Seng Technology Index falling by about 10%, marking the largest monthly decline in two years. Mainland capital significantly reduced holdings, and renowned investor Michael Burry pointed out that Tencent's stock price has seen no growth over the past five years, reflecting structural issues in Hong Kong stocks. Market enthusiasm for Chinese internet giants has waned, with investors shifting towards chip and AI startups. Baidu's stock price dropped over 19% due to weak performance. The market is focusing on the earnings of JD and Bilibili to seek clues about the industry's outlook

- The Hong Kong tech sector has underperformed in the Year of the Horse, with the Hang Seng Tech Index falling nearly 10% this month, marking its largest monthly decline since January 2024.  
- Significant sell-offs from mainland investors and a lack of support have led the index to bear market territory, with a nearly 23% drop from last October's highs.  
- Investor sentiment is shifting towards chip manufacturers and AI startups, and expected earnings reports from JD.com and Bilibili may provide insights into the sector's future.

Stheadline

ChinaAMC Hang Seng Technology ETF(QDII)

CAM HS TECH

Baidu

ISHARESHSTECH

Bilibili

Huatai-PB CSOP Hang Seng Technology ETF(QDII)

Tianhong Hang Seng TECH ETF(QDII)

Hong Kong tech stocks fell 10% in February, marking the worst performance in two years. "Big short" Burry laments: Tencent has zero returns over the past five years

As of the time of publication, the three major indices of the Hong Kong stock market are collectively strengthening during the trading session, with the Hang Seng Index approaching its recent high. The internet sector is performing well, with Tencent Holdings leading the way due to strategic adjustments and positive data from the Spring Festival, while Alibaba is rising on expectations for its cloud business. The telecommunications equipment sector is showing divergence, with YOFC reaching a historical high due to demand for AI computing power and inclusion in the MSCI Index. Market sentiment is relatively positive, with funds focusing on macroeconomic recovery and corporate performance

- The Hong Kong stock market shows an overall upward trend with the Hang Seng Index rising by 0.99%, reflecting positive investor sentiment after profit-taking.  
- Major stocks like Tencent and Alibaba experienced gains, driven by strategic adjustments and strong trading performance, particularly in the tech and retail sectors.  
- Macroeconomic factors are under scrutiny, with investors watching retail sales and GDP growth to gauge economic resilience amid evolving Fed monetary policy expectations.

Alibaba

Hong Kong stock market intraday | The Hang Seng Index rose 0.99%, approaching the recent high, Tencent Holdings rose 2.44%, YOFC surged 9.10%

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The short selling amount in the Hong Kong stock market reached HKD 21.56 billion in the half-day session, accounting for 22.1% of the total shortable stock turnover of HKD 97.45 billion. The previous day was 20%. Major shorted stocks include TRACKER FUND with a short selling ratio of 44.4% and a short selling amount of HKD 3.31 billion; CSOP HS TECH with a short selling ratio of 56.6% and a short selling amount of HKD 2.1 billion; TENCENT with a short selling ratio of 14% and a short selling amount of HKD 1.04 billion; Alibaba-W with a short selling ratio of 18.8% and a short selling amount of HKD 0.95 billion; MINIMAX-WP with a short selling ratio of 29% and a short selling amount of HKD 0.54 billion

AASTOCKS

MINIMAX-WP

TRACKER FUND

The short selling in the Hong Kong stock market for half a day reached HKD 21.56 billion, accounting for 22.1% of the total turnover of shortable stocks

TSMX

300750

Morgan Stanley released a market strategy report for the Asia-Pacific region, listing the focus of the "high conviction opportunities" theme, including Taiwan Semiconductor, Tencent, Samsung Electronics, CATL, and several other companies

Direxion Daily TSM Bull 2X Shares

CATL

Taiwan Semiconductor

Direxion Semicon Bull 3X

GTJA Allianz CSI All Share Semiconductors & Semiconductor Equipment ETF

VanEck Semiconductor ETF

ChinaAMC SSE STAR Semiconductor Material & Equipment Thematic ETF

Guotai CSI Semiconductor Material Equipment Theme ETF

SPDR S&P Semicon

GTJA Allianz SSE STAR Chip Design Thematic ETF

Guotai CES Semiconductor Chip Industry ETF

Samsung Electronics 

iShares Semiconductor ETF

Morgan Stanley lists the theme focus of "High Conviction Opportunities" in the Asia-Pacific region (Table)

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00HSI

03690

Hong Kong stocks rebounded after the futures settlement day, with the Hang Seng Index rising 197 points to 26,578 points in the first half of the day. In the real estate sector, Sun Hung Kai Properties rose nearly 7%, with a 17% increase in half-year underlying profit. In the technology sector, both Tencent and Meituan saw increases, rising 2.8% and 2.1% respectively. The overall market turnover was HKD 121.827 billion

SHK PPT

Hang Seng Index

MEITUAN

Meituan

FI2CAMNDQ100

ISHARESHSI-U

ISHARESHSI

ISHARESHSI-R

"Hong Kong Stocks" The Hang Seng Index rose 197 points in the half-day, New World Development increased nearly 7%, Tencent and Meituan performed well

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The Hang Seng Index opened 66 points higher this morning, reaching a maximum increase of 225 points, closing at 26,578 points, up 197 points or 0.75%. Sun Hung Kai Properties surged 6.8% in the half-day session, declaring an interim dividend of HKD 0.98, with several investment banks raising their target prices. New World Development rose 2.76%, and Cheung Kong Holdings increased by 1.95%. CK Hutchison fell 2.39% due to the termination of its Panama port concession. Technology stocks generally rose, with Tencent up 2.83% and MEITUAN up 2.05%. U.S. tech stocks were affected by a significant drop in NVIDIA, with the three major indices showing mixed performance

- The Hang Seng Index opened 66 points higher and peaked at 26,606, closing at 26,578, up 197 points or 0.75% with a turnover of 121.83 billion HKD.  
- Notable gains included New World Development, which rose 2.76%, while Longfor fell 2.39% amid challenges with its Panama operations.  
- In US markets, Nvidia's significant drop negatively impacted tech stocks, with the Nasdaq falling 273 points or 1.18%, while local stocks experienced mixed trading and a net outflow of 7.366 billion HKD.

NWDS CHINA

NEW WORLD DEV

The Hang Seng Index rose 1.97% in the half-day, Sun Hung Kai Properties surged 6.8%, New World Development increased by 2.7%, and ATM rose by 1% to 2.8% | Hong Kong stock market opens

On February 27th, the three major indices of the Hong Kong stock market collectively warmed up in the morning session, with the Hang Seng Tech Index rising 1.03% to lead the market, and the Hang Seng Index increasing 0.75% to maintain a strong oscillating pattern. The internet and retail sectors performed actively, with Tencent Holdings leading the trading volume with a rise of 2.83%, Alibaba following with an increase of 1.05%, and Yangtze Optical Fibre rising sharply by 3.85, while stocks like Kuaishou and Cambridge Technology experienced adjustments. On the macro level, the market is in a data vacuum period, with investors waiting for guidance from Hong Kong's retail sales and CPI data, and overall bullish sentiment has somewhat recovered

- On February 27, Hong Kong's three major indices rebounded, with the Hang Seng Tech Index leading the market.  
- The Hang Seng Index rose by 0.75% to 26,578.43 points, and investor sentiment was generally positive, particularly in the technology and retail sectors.  
- Notable individual stock performances included a 125.81% surge in Great Wall Digital's shares following the lifting of its liquidation application, attracting speculative trading.

XUNCE

XIMEI RESOURCES

Hwabao CSI HK Equities Internet ETF

E Fund CSI HK Connect Internet ETF

BABA 2x Long Daily ETF - GraniteShares

Hang Seng Composite Index

Harvest Hang Seng SCHK Technology ETF

KraneShares 2x Long BABA Daily ETF

Hong Kong Stock Midday Review | Hang Seng Tech Index up 1.03%, Tencent Holdings up 2.83% leading the way, YOFC up 3.85%

BABA

00669

BABX

KBAB

The Hang Seng Index closed at 26,578 points, up 197 points or 0.7%; the Hang Seng Tech Index reported 5,162 points, up 53 points or 1.0%. The China Enterprises Index rose 35 points to 8,849 points. Among the active blue-chip stocks, Tencent rose 2.8% to HKD 526.5, Meituan rose 2.1% to HKD 82.1, and Alibaba rose 1% to HKD 144.5. Sun Hung Kai Properties hit a new high, closing at HKD 145.6, up 6.8%; CK Asset, TECHTRONIC IND, and Cathay Pacific also reached new highs

TECHTRONIC IND

CATHAY PAC AIR

CK ASSET

The Half-Day Report: The Hang Seng Index closed at 26,578 points, up 197 points; the Hang Seng Tech Index closed at 5,162 points, up 53 points. Sun Hung Kai Properties rose over 6%. Sun Hung Kai Properties, CK Asset, TECHTRONIC IND, and CATHAY PAC AIR reached new highs

On February 27th, during the Hong Kong stock market, the market showed a mild recovery trend, with the three major indices maintaining narrow fluctuations. The Hang Seng Index stabilized above 26,400 points, while the Technology Index consolidated around 5,100 points. In terms of sectors, the internet content and information sector experienced mixed fluctuations, with TENCENT's stock price rising due to favorable AI news, while KUAISHOU faced a pullback due to profit-taking pressure; the communication equipment sector declined overall, with CIG experiencing a significant drop. Market sentiment remained cautious, with investors closely monitoring macroeconomic data guidance

- Hong Kong stocks showed mild recovery on February 27, maintaining narrow fluctuations due to lack of significant positive stimuli.  
- The Hang Seng Index rose by 0.42% to 26,491.34 points, indicating stable support above 26,400 points, while the Hang Seng Tech Index saw a modest increase of 0.36%.  
- Market focus remains on economic recovery indicators like retail sales and export data, contributing to cautious sentiment among investors.

MANY IDEA CLOUD

HSTECH ETF

Hong Kong stock market intraday | The Hang Seng Index rose 0.36%, technology stocks fluctuated and diverged, Tencent Holdings increased by 1.17%, Kuaishou fell by 1.02%

HSCEI

00005

Hong Kong stocks opened higher this morning, with the Hang Seng Index rising 66 points to 26,447 points. The National Index and the Hang Seng Tech Index opened up 3 points and 7 points, respectively. In the tech sector, Baidu's net profit for the fourth quarter fell by 42%, with ADR shares dropping by 5.7%. Meituan delayed the launch of its plan, with its stock opening up 0.7%. Tencent opened down 0.3%, while Alibaba opened flat. In the automotive sector, BYD opened down 0.1%, and XPeng opened up 1.9%. In the financial sector, HSBC opened up 1.2%

Hang Seng China Enterprises Index

HSBC HOLDINGS

"Hong Kong Stocks" The Hang Seng Index opened 66 points higher, HSBC and AIA rose, Baidu softened after earnings

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Hong Kong stocks experienced a collective pullback today, with the three major indices retreating after reaching highs. The Hang Seng Index closed down 1.44%, and the Hang Seng Tech Index plummeted 2.87%. On the market, tech stocks and retail stocks showed weakness, with significant declines in heavyweight stocks like Alibaba and Kuaishou; bank stocks exhibited mixed performance, with HSBC Holdings rising 1.61% against the trend, supporting the market. Funds have not completely withdrawn, as the telecommunications equipment sector was in demand, with NANFANG COMM and MOBI DEV seeing significant price increases. On the macro front, the market is closely monitoring economic data from early 2026 to assess the sustainability of the recovery

- Hong Kong stocks experienced a collective pullback today, with the Hang Seng Index dropping 1.44% to close at 26,381.02 points after recent highs.  
- The Hang Seng Tech Index fell 2.87%, indicating significant profit-taking, while retail and internet sectors also showed declines amid a subdued market mood.  
- Investors are focusing on macroeconomic signals for early 2026, watching GDP growth and inflation rates to assess economic recovery and stock valuation trends.

NANFANG COMM

ICBC

MOBI DEV

PUTIAN COMM

KPM HOLDING

Hong Kong Stock Market Closing | The Hang Seng Index fell by 1.44%, the Tech Index plummeted by 2.87%, Alibaba's decline exceeded 3%, and NANFANG COMM surged over 42%

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UBS report indicates that global commodity prices are expected to rise by 9% in 2025, putting Chinese companies in a dilemma of either raising prices or facing declining profit margins. If re-inflation is successfully achieved, the MSCI China Index has a 20% upside potential. UBS adjusts its portfolio, downgrading the software sector to "underweight," adjusting consumer staples and real estate to "neutral," reducing positions in the internet sector, and removing NetEase. Tencent and Alibaba remain favored

Yinhua MSCI China A ETF

NETEASE MUSIC

NTES-S

UBS: If China successfully moves towards "re-inflation," the stock market could potentially rise by 20%, and reduce holdings in the internet sector

Unity

Conference Minutes

Below is Dolphin Research's Trans of the Q4 2025 earnings call for $Unity Software(U.US). For our earnings review, see '30% Overnight Plunge: Who Crushed Unity?'. I. Key financials recap. Q4 2025 results. Revenue $503mn (+2% YoY); Adj. EPS $0.24 (vs. Street $0.21). Adj. EBITDA $125mn (margin 25%); FCF $119mn...

Unity Software

Opendoor Tech

Opendoor Tech Series A - CW26

Opendoor Tech Series K - CW26

Opendoor Tech Series Z - CW26

TENCENT-R

Tencent HK SDR 10to1

Unity (Trans): Vector up 70% YoY in Jan.

30-40% upside potential. Mainly driven by AI, gaming, advertising growth. A great giant ETF company🤣. Too expensive to buy and hold for retail investor.

2026 Resolution-Trade like professional . Do not FOMO. Keep more cash.

Fattycat

BABA Return Rate

BABA Diamond Holder

我想问真观点

What is Tencent's upside potential?

KC1028

This Lunar New Year, China’s tech giants kicked off a new round of AI wars.Alibaba launched a ¥3B “Spring Festival Treat” campaign, driving 10 million free milk tea orders in 9 hours across its platforms. Tencent invested ¥1B into WeChat’s “Yuanbao” AI red packets to deepen engagement.ByteDance took another path — its Dream platform released Seedance 2.0, a video AI model that boosts usable output for short clips to over 90%, far above the ~20% industry average.Beyond subsidies, this battle is about who can truly integrate AI into daily life. The holiday rush helps shape habits, gather data, and train models — all aiming to become the go-to “AI ask” gateway.The winner won’t just get traffic, but could define the super-app of the AI era.So — who’s your pick? Alibaba’s commerce, Tencent’s social grip, or ByteDance’s tech edge?$Alibaba(BABA.US)$BABA-W(09988.HK)$BABA-WR(89988.HK)$Tencent(TCEHY.US)$TENCENT(00700.HK)

Yuanbao

The Battle for the AI Gateway: Who Wins?This Lunar New Year, China's tech giants unleashed a new wave of AI application wars. Alibaba's &#34;Spring Festival Treat&#34; campaign, backed by ¥3B, offered deals across e-commerce and local services, logging 10 million free milk tea orders in 9 hours. Tencent doubled down on its WeChat ecosystem, investing ¥1B into its &#34;Yuanbao&#34; AI red packet feature to boost engagement.ByteDance played a different card. Its Dream platform launched Seedance 2.0, a new video AI model. A key breakthrough: it boosted the usable output rate for 15-second clips to over 90%, far above the ~20% industry average, slashing generation costs.Beyond subsidies, this battle tests real AI integration and ecosystem strength. The holiday season is a prime testing ground to shape user habits, collect data, and train models—all fighting to become users' first-choice &#34;AI ask&#34; portal.The stakes? It's not just about traffic. It's about defining the super-app gateway for the AI era, which will ripple across the entire investment landscape.So, who's your pick for the ultimate AI gateway? Alibaba with its commerce power, Tencent with its social lock-in, or ByteDance with its tech edge?

Today’s Key News Recap

Feb 6 | Dolphin Research focus: 🐬 Stock 1, $BABA-W(09988.HK) Alibaba's Qwen app launched a 'Spring Festival RMB 3bn free-order' campaign today. The first wave centers on AI one-line prompts to order milk tea for free.Notably, WeChat further blocked today the promo passwords for red-envelope campaigns run by both Alibaba Qwen and Tencent Yuanbao. As a result, those keywords can no longer be copied or recognized in private or group chats.The move aims to protect WeChat's platform ecosystem and curb over-marketing that disrupts user experience. It also helps defend its social-traffic moat...

BABA-WR

Amazon

Roblox

LI AUTO-W

Li Auto

DingDong

XPENG-W

XPeng

NIO-SW

NIO Inc. USD OV

NIO Inc

Alibaba HK SDR 5to1

MEITUAN-WR

Alibaba Qwen's Lunar New Year free-order promo was blocked by WeChat; Nio surged after its first-ever quarterly profit | Daily News Recap

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JP#TENCTRC26082(59769.HK)

Hong Kong stock market closing | Hang Seng Index rose 0.95%, stabilizing at 26,600 points, YOFC surged 10.06%, Tencent rose 1.17%

Michael Burry Exposes 'Vulnerability' In Chinese Tech, Warns Of Hong Kong's 'Cayman Islands Shell' Trap

Hong Kong tech stocks fell 10% in February, marking the worst performance in two years. "Big short" Burry laments: Tencent has zero returns over the past five years

Hong Kong stock market intraday | The Hang Seng Index rose 0.99%, approaching the recent high, Tencent Holdings rose 2.44%, YOFC surged 9.10%

The short selling in the Hong Kong stock market for half a day reached HKD 21.56 billion, accounting for 22.1% of the total turnover of shortable stocks