The Hang Seng Index fell 322 points in half a day, HSBC dropped over 2%, Tencent and Alibaba declined, while SMIC rose against the trend | Hong Kong stock market opens

The Hang Seng Index opened 156 points lower this morning and gradually declined, at one point dropping 404 points to 26,054 points, barely holding above the 26,000 mark. As of noon, it reported 26,136 points, down 322 points or 1.22%, with a half-day turnover of HKD 130.6 billion. In terms of the Tech Index, it reported 5,673 points at noon, down 64 points or 1.13%. Among the heavyweight blue-chip stocks, HSBC (011), which is voting on the privatization of Hang Seng, fell 2.5% at noon, along with AIA (1299) down 2.3%, and Tencent (700) and Alibaba (9988) both down 1.7% and 1.5%, respectively, being the main "culprits" dragging down the Hang Seng Index. As for Hang Seng, it was at HKD 153.8 at noon, unchanged. Morgan Stanley: SMIC is a key supporter of AI localization in China In terms of stock price fluctuations, Lenovo (992) fell 5.4% at noon, making it the worst-performing blue-chip; Zhongsheng (881) and Sands China (1928) also fell 4.5% and 4.1%, respectively. In contrast, SMIC (981) and Sun Hung Kai Properties (016) rose over 2%, making them better-performing blue chips. On the news front, Morgan Stanley released a report optimistic about SMIC, stating that it is a "key supporter of AI localization in China," and due to strong demand for advanced logic chips, it holds a positive view on Chinese chip equipment companies. The firm expects that H200 will help meet China's training needs and may bring greater market demand, as well as AI capital expenditures, estimating that China's chip self-sufficiency rate will increase from 24% in 2024 to 30% in 2027. ————— The U.S. "small non-farm" ADP data showed that 41,000 jobs were added in December last year, falling short of expectations, and the November data was revised from a decrease of 32,000 to 29,000. Additionally, the U.S. announced that the ISM services index for December was reported at 54.4, better than the expected 52.2, with the previous value being 52.6. U.S. to "indefinitely" control Venezuelan oil sales On the other hand, U.S. Energy Secretary Granholm claimed that the U.S. will "indefinitely" control Venezuelan oil sales. International oil prices continued to remain low, with New York crude oil down 2%, closing at USD 55.99 per barrel; London Brent crude oil fell 1.2%, closing at USD 59.96 per barrel. Google’s market value surpasses Apple The three major U.S. stock indices had mixed developments, with the Dow closing down 466 points or 0.94%, at 48,996 points; the S&P 500 down 23 points or 0.34%, at 6,920 points; and the Nasdaq up 37 points or 0.16%, at 23,584 points. As for the Golden Dragon Index, which reflects the performance of Chinese concept stocks, it fell 1.58% to 7,712 points on Wednesday. Among the focus stocks, Google (GOOGL) A shares rose 2.4% to USD 321.98, with a market value reaching USD 3.89 trillion, surpassing Apple's USD 3.85 trillion, but still lower than Nvidia's USD 4.6 trillion Xiaomi plans to launch 4 new cars next year In the Hong Kong stock market, the Hang Seng Index opened down 156 points this morning, reporting 26,302 points. Tech stocks are weak, with Alibaba (9988) down 1.6% at market open; Tencent (700) down 1%; Meituan (3690) down 0.8%; and JD.com (9618) down 0.8%. As for Xiaomi (1810), it plans to launch 4 new cars early next year, namely the revamped SU7, the SU7 Executive Edition, a range-extended 5-seater SUV, and a range-extended 7-seater SUV, with its stock price opening at HKD 38, down 0.42%. HSBC to vote on privatizing Hang Seng today Additionally, HSBC (005) will vote on the privatization of Hang Seng (011) today (8th), with their stock prices down 2.1% and unchanged, respectively. Youjia Innovation receives increased stake from Horizon In individual stock news, Youjia Innovation (2431) has received an increase of 688,200 shares from cornerstone investor Horizon Together; Horizon Together is wholly owned by Horizon Robotics (9660). Youjia Innovation's stock price opened up 0.3% this morning; Horizon also rose 0.4%. Zhipu's public offering oversubscribed by 1,158 times In terms of new stocks, three new stocks are listed today, among which Zhipu (2513) recorded an oversubscription of over 1,158 times in its public offering, with a 5% chance of winning a lot; the international offering was oversubscribed over 14 times; it opened at HKD 120, up 3%. Jingfeng Medical's international offering oversubscribed over 24 times Jingfeng Medical (2675) recorded an oversubscription of about 1,090 times in its public offering, with a 0.5% chance of winning a lot; the international offering was oversubscribed over 24 times; it opened at HKD 59, up 36%. Tianneng Zhixin opens up over 31% Tianneng Zhixin (9903) recorded an oversubscription of about 413 times in its public offering, with a 7% chance of winning a lot; the international offering was oversubscribed over 9 times; it opened at HKD 190.2, up 31.5%. Regarding the northbound capital flow, there was a net purchase of HKD 9.178 billion in Hong Kong stocks yesterday, with Tencent (700), Xiaomi (1810), and the Tracker Fund of Hong Kong (2800) receiving net purchases of HKD 1.955 billion, HKD 1.633 billion, and HKD 1.465 billion, respectively; while China Mobile (941), SMIC (981), and Kuaishou (1024) faced net sales of HKD 1.126 billion, HKD 1.07 billion, and HKD 157 million, respectively