The Hang Seng Index rose 268 points in half a day, with the 27,000 mark "gained and lost," as innovative drug stocks collectively surged. Three new stocks had a weak finish｜Hong Kong Stock Market Afternoon Session

The Hang Seng Index opened 350 points higher this morning, reaching a peak of 535 points during the session, hitting a high of 27,143 points. However, the momentum weakened afterward, and the 27,000 mark was "gained and lost," closing at 26,877 points, up 268 points or 1.01%, with a half-day turnover of HKD 192 billion. The Tech Index rose 22 points or 0.38%, reporting 5,885 points. Alibaba rises over 3%, Meituan and Baidu decline Blue-chip tech stocks showed mixed performance. Alibaba (9988) continued its upward trend, with its Qianwen model downloads exceeding 700 million times, and Alibaba Cloud's revenue is expected to continue growing, rising 3.5% to HKD 159.7, contributing 71 points to the Hang Seng Index. JD.com (9618) also rose 1.11%; Tencent (700) increased by 0.48%. However, Xiaomi (1810), Meituan (3690), and Baidu (9888) fell against the trend, declining by 0.67%, 0.86%, and 1.38%, respectively. Innovative drug stocks surged collectively, with several Chinese innovative drug companies attending the healthcare conference hosted by JP Morgan in San Francisco, which positively impacted the sector. WuXi AppTec (2359) saw its profits more than double last year, with its stock price peaking at HKD 121.5, closing at HKD 119.3, up 7.67%, making it the best-performing blue-chip; CSPC Pharma (1092) rose 5.5%; WuXi Biologics (2269) increased by 4.47%; Hansoh Pharmaceutical (3692) also rose by 3.94%. Auto stocks benefit from consensus on electric vehicles between China and Europe Additionally, benefiting from significant progress in the China-Europe electric vehicle negotiations, both sides reached a consensus and agreed to resolve disputes through "price commitments." Auto stocks generally rose, with BYD (1211) up 3.19%; XPeng (9868) up 3.05%; Li Auto (2015) up 1.15%; and Seres (9927) up 1.02%. In terms of new stocks, three new stocks listed today all rose, but after peaking, they retreated. Zhaoyi Innovation (3986) once surged over 53.5%, then slightly retreated, closing at HKD 226.8, up 40%; BBSB INTL (8610) opened 418% higher on its first day, closing at HKD 0.99, up 65%; Hongxing Cold Chain (1641) only rose 4.4% in the half-day. U.S. President Trump announced an immediate 25% tariff on any country trading with Iran, effective immediately, but did not provide further details. Given that China, Brazil, Turkey, and Russia have close trade ties with Tehran, there are concerns that this move will trigger global supply chain disruptions. Additionally, some analysts believe that this action temporarily reduces the likelihood of U.S. military intervention in Iran. Reports suggest U.S. to lower tariffs on Taiwan to 15% On the other hand, foreign media reported that the U.S. is close to reaching a trade agreement with Taiwan, with the U.S. planning to lower the tariff rate on Taiwanese goods to 15%, expected to be announced within this month. At the same time, TSMC (TSM) will increase its investment in the U.S., with the stock rising 2.5% to USD 331.77 on Monday The three major U.S. stock indices rose on Monday, with the Dow Jones and S&P 500 hitting new highs. The Dow rose by 86 points or 0.17%, closing at 49,590 points; the S&P 500 rose by 0.16%, closing at 6,977 points; and the Nasdaq rose by 62 points or 0.26%, closing at 23,733 points. The Golden Dragon Index, which reflects the performance of Chinese concept stocks, rose by 4.26% to 8,023 points on Monday. Google's Market Value First Exceeds $4 Trillion Among the focus stocks, U.S. President Trump previously proposed setting a nationwide credit card interest rate cap at 10% starting January 20, raising concerns in the market about credit card company profits. American Express (AXP) fell by 4.3%, VISA dropped nearly 2%, and JPMorgan (JPM) also fell by 1.4%. Additionally, Apple (AAPL) announced a partnership with Google (GOOGL) to support Apple's AI features, with both stocks rising by 0.34% and 1% respectively, while Google's market value first exceeded $4 trillion. In Hong Kong stocks, the Hang Seng Index opened 350 points higher at 26,958 points this morning. Tech stocks generally rose, with Alibaba (9988) opening up 5%; Tencent (700) rose by 2.2%; Meituan (3690) rose by 1.4%; JD.com (9618) rose by 2%; Baidu (9888) also rose nearly 2%, and Xiaomi (1810) rose by 1.4%. Rongchang Bio Signs Exclusive License with AbbVie In individual stock news, Rongchang Bio (9995) signed an exclusive licensing agreement with AbbVie for the new targeted PD-1/VEGF bispecific antibody drug RC148, granting exclusive rights for the development, production, and commercialization of RC148 outside the Greater China region. Upon approval and effectiveness of the agreement, the group will receive an upfront payment of $650 million and is eligible for up to $4.95 billion in development, regulatory, and commercialization milestone payments, as well as a tiered royalty on net sales outside the Greater China region. The stock opened at 101 HKD, rising nearly 9%. GigaDevice International Offering Oversubscribed by Over 17 Times In the IPO sector, GigaDevice (3986) recorded an oversubscription of approximately 541 times in its public offering, with a 2% chance of winning a lot, and the international offering was oversubscribed by over 17 times; the stock opened at 235 HKD, rising by 43%. Red Star Cold Chain Public Offering Oversubscribed by 2,308 Times Red Star Cold Chain (1641) recorded an oversubscription of approximately 2,308 times in its public offering, with a 1% chance of winning a lot, and the international offering was 0.65 times oversubscribed; the stock opened at 19.58 HKD, rising by 60%. BBSB Opens Up 400% As for BBSB (8610), the public offering was oversubscribed by approximately 10,744 times, with a 0.05% chance of winning a lot; the international offering was oversubscribed by 0.01 times; the stock opened at 3 HKD, rising by 400%. Regarding the northbound capital flow, there was a net purchase of HKD 7.306 billion in Hong Kong stocks yesterday, with Kuaishou (1024), Tencent (700), and Southern Hang Seng Technology (3033) receiving net purchases of HKD 2.245 billion, HKD 2.012 billion, and HKD 858 million respectively; China Mobile (941), Meituan (3690), and Ping An Insurance (2318) were net sold 1.03 billion yuan, 482 million yuan, and 342 million yuan, respectively