<p>The People's Bank of China lowered the interest rates on structured monetary tools and other measures to support the economy, but it was reported that Chinese regulatory authorities requested the removal of some high-frequency trading dedicated servers from the exchange data center, continuing to cool the market. With mixed news, Hong Kong stocks opened high but fell low again on Friday, failing to challenge the 27,000 mark for four consecutive days. The Hang Seng Index closed at 26,844 points, down 78 points, with market turnover falling to HKD 255 billion, the lowest of the week. Northbound capital turned to a net inflow of HKD 94 million.</p>
<h2>The Hang Seng Index rose 613 points for the week, while Trip.com fell 22%</h2>
<p>The Hang Seng Index opened 171 points higher, initially rising by as much as 253 points to 27,176 points, but faced selling pressure at high levels, gradually declining throughout the day, and ultimately fell 182 points to close at 26,844 points, down 78 points. The National Index closed at 9,220 points, down 46 points. The Tech Index closed at 5,822 points, down 6 points. For the week, the Hang Seng Index rose a total of 613 points, the National Index rose 172 points, and the Tech Index rose 135 points. Trip.com (9961) fell a total of 21.8%, making it the worst-performing blue-chip stock of the week; Alibaba Health (241) rose 17.9%, making it the best-performing blue-chip stock of the week.</p>
<h2>SMIC rose 2%, Hua Hong surged 7%</h2>
<p>TSMC's latest strong performance, along with this year's revenue guidance reflecting the ongoing AI boom, benefited Hong Kong chip stocks, which continued to rise against the market trend. Semiconductor Manufacturing International Corporation (981) rose 2.4% to close at HKD 79.2; Hua Hong Semiconductor (1347) surged 7.4% to close at HKD 106.8, reaching a historical high. MINIMAX (100) soared 22.3% to close at HKD 438; Zhaoyi Innovation (3986) jumped 16.7% to close at HKD 272; and Zhihui (2513) also rose 3.7% to close at HKD 250.</p>
<p>Tech stocks showed mixed developments, with Alibaba (9988) rising 1% to close at HKD 166.2; its affiliate Alibaba Health (241) continued to decline, falling 5.2% to close at HKD 6.8. NetEase (9999) rose 1% to close at HKD 215.6; Tencent (700) fell 0.7% to close at HKD 617.5; and Meituan (3690) also dropped 0.8% to close at HKD 100.</p>
<h2>Red Sea opens, Orient Overseas plunges 5%</h2>
<p>Shipping giant Maersk announced that it would resume navigation through the Red Sea and the Suez Canal as the security situation stabilizes. Many shipping and port stocks fell, with Orient Overseas International (316) plunging 5% to close at HKD 120.1; Haifeng International (1308) fell 4% to close at HKD 26.22; and China COSCO Shipping Holdings (1919) dropped 3.4% to close at HKD 13.26.</p>
<p>The domestic adjustment of the commercial mortgage down payment ratio policy failed to boost the stock prices of domestic property companies, with Longfor (960) falling 0.7% to close at HKD 9.35; China Overseas (688) down 1.1% to close at HKD 13.11; and Vanke (2202) declining 2.5% to close at HKD 3.5</p>
<h2>CK Hutchison spins off Watsons, rises 2% against the market</h2>
<p>In individual stocks, foreign media reported that the main manufacturer producing Labubu for Pop Mart (9992) has labor rights exploitation issues, causing Pop Mart to drop 5.6%, closing at HKD 178.6, a new 8-month low, and the worst-performing blue-chip stock. CK Hutchison (001) is reportedly spinning off its retail flagship Watsons Group for a valuation of up to USD 30 billion (approximately HKD 234 billion), expected to complete in the second quarter at the earliest. CK Hutchison's stock rose 1.8% against the market, closing at HKD 60.5.</p>
<h2>CITIC Resources sells investment, resumes trading up 27%</h2>
<p>WuXi Biologics (2269) saw a major shareholder reduce holdings by 3.8% at a discount of 1.5 billion shares, with the stock price falling 0.6% to close at HKD 39.78. YouRan Dairy (9858) raised funds of HKD 2.346 billion by issuing shares to its controlling shareholder Yili at a discount of 8.8%, still rising 1.9% to close at HKD 4.38. CITIC Resources (1205) reduced its holdings of 3.8166 million American Depositary Receipts of Alcoa, cashing out USD 247 million, equivalent to HKD 1.93 billion, with the stock soaring 26.8% after resuming trading, closing at HKD 0.52.</p>
<h2>Sir Nie: The Hang Seng Index needs HKD 280 billion in turnover to support market rise</h2>
<p>Nie Zhenbang, Chief Analyst at GaoGe Securities, stated that investors have become increasingly cautious recently, with many market funds selling at highs, and the overall market turnover has been declining for several days. Therefore, Hong Kong stocks have not been able to stabilize above the 27,000 mark at closing, showing a trend of opening high and closing low. He continued to point out that the short-term trend of Hong Kong stocks needs to pay attention to the overall market turnover. If it cannot continue to rise to the HKD 280 billion level, it will be difficult for the Hang Seng Index to stabilize above 27,000 this month, and the market will face the pressure of a correction, potentially falling below 26,600 points, which may indicate that the rise of Hong Kong stocks at the beginning of this year may come to an end.</p>
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<p>The Hang Seng Index opened 171 points higher this morning, rising as much as 252 points to a high of 27,176 points, but failed to stabilize above 27,000, turning from gains to losses, with a maximum drop of 83 points. It closed at 26,851 points, down 71 points or 0.27%; half-day turnover was HKD 140.79 billion. The Tech Index fell 12 points or 0.22%, reporting 5,815 points.</p>
<p>Financial Secretary Paul Chan stated at a Legislative Council meeting that stamp duty is an important part of government revenue and will not further reduce stock stamp duty.</p>
<p>Related article: Paul Chan clearly states no reduction in stock stamp duty unless external environment undermines competitiveness</p>
<p>Tech stocks showed mixed developments, with Alibaba (9988) up 1%; NetEase (9999) up 0.37%; Tencent (700) down 0.8%; Meituan (3690) down 0.79%; JD.com (9618) down 0.95%; Xiaomi (1810) down 1.58%.</p>
<h2>Alibaba Health drops by half</h2>
<p>Alibaba Health (241) continued to adjust, falling 5.43% in half a day. Ping An Good Doctor (1833) and JD Health (6618) both fell 2%
Pop Mart (9992) fell 4.75% in half a day, reaching about a one-year low. WuXi Biologics (2269) is being proposed by major shareholders to place 150 million shares at HKD 38.52 per share to reduce their holdings, dropping 0.9% in half a day.</p>
<h2>Li Ning Receives Positive Ratings from Major Firms</h2>
<p>Techtronic Industries (669) rose 4.26% in half a day, making it the best-performing blue chip; Li Ning (2331) had its target price raised by major firms, increasing by 3.73%.</p>
<p>According to reports, CK Hutchison is seeking to list Watsons in Hong Kong and London as early as next quarter. CK Hutchison (001) rose 1% to HKD 60.1, reaching about a four-year high. Sun Hung Kai Properties (016) rose 1.35% to HKD 112.6, hitting a more than two-year high. New World Development (017) rose 2.21% in half a day.</p>
<p>———</p>
<p>0930: TSMC's strong performance, along with this year's revenue guidance reflecting the continued AI boom, stimulated a rebound in U.S. tech stocks. The three major indices stabilized after a decline on Thursday, with the Dow closing up 292 points or 0.6% at 49,442 points; the S&amp;P 500 rose 17 points or 0.26% to 6,944 points; the Nasdaq rose 58 points or 0.25% to 23,530 points; the Golden Dragon Index, reflecting the performance of Chinese concept stocks, retreated 0.6% to 7,809 points.</p>
<p>TSMC's ADR stock price hit a new high, closing up 4.4% at USD 341.64. NVIDIA rose 2.13%, AMD increased by 2%, Micron Technology, Amazon, and Meta all rose nearly 1%, while Alphabet, Microsoft, and Apple fell by 0.9%, 0.6%, and 0.6%, respectively. Bank stocks performed well after earnings, with BlackRock and Morgan Stanley rising over 5%, and Goldman Sachs and Citigroup rising over 4%.</p>
<p>In terms of economic data, the U.S. Department of Labor reported that for the week ending January 10, initial claims for unemployment benefits decreased by 9,000 to 198,000, less than the expected 215,000; for the week ending January 3, continuing claims for unemployment benefits fell by 19,000 to 1.884 million, also less than the expected 1.897 million.</p>
<h2>WuXi Biologics Faces Major Shareholder Reduction</h2>
<p>In the Hong Kong stock market, the Hang Seng Index opened 171 points higher this morning at 27,094 points. Tencent (700) rose 0.8%; Alibaba (9988) rose 2%; Meituan (3690) rose 1%; Xiaomi (1810) rose 0.37%; JD.com (9618) fell 0.52%.</p>
<p>WuXi Biologics (2269) opened down 3.39% at HKD 38.66, as the company is being proposed by major shareholders to place 150 million shares at HKD 38.52 per share to reduce their holdings, a discount of 3.75% compared to Thursday's closing price of HKD 40.02.</p>
<p>YouRan Dairy (9858) raised a total of HKD 2.346 billion through a method of old shares first and then new shares, with a placement price of HKD 3.92, an 8.84% discount compared to Thursday's closing price of HKD 4.3. YouRan Dairy's stock price fell 5.11%
CK Hutchison Holdings (001) opened 2.18% higher, reporting HKD 60.75, with reports indicating that CK Hutchison is seeking to list Watsons in Hong Kong and London as early as next season.</p>
<p>China Molybdenum (3993) issued a profit warning, expecting an increase of 47.8% to 53.71% last year, opening 0.98% higher.</p>
<p>Regarding the movement of northbound capital, on Thursday, southbound funds net sold HKD 1.515 billion in Hong Kong stocks. Alibaba (9988), Tencent (700), and SMIC (981) saw net purchases of HKD 1.976 billion, HKD 643 million, and HKD 181 million respectively; while China Mobile (941), Xiaomi (1810), and CNOOC (883) faced net sales of HKD 791 million, HKD 491 million, and HKD 366 million respectively</p>

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<p>The Hang Seng Index closed at 26,844 points on Friday, down 78 points, failing to break through 27,000 points for four consecutive days. Market turnover fell to HKD 255 billion, with a net inflow of HKD 94 million from the north. Despite strong performance from AI chip stocks, with SMIC and Hua Hong Semiconductor rising 2% and 7% respectively, Ctrip saw a decline of 21.8%, becoming the worst-performing blue-chip stock of the week. ALI HEALTH, on the other hand, rose 17.9%, making it the best blue-chip stock. Overall, the Hang Seng Index still rose 613 points for the week</p>

- The People's Bank of China has adjusted interest rates and removed specific high-frequency trading servers to stabilize the economy, affecting the Hong Kong stock market.  
- The Hang Seng Index opened high but closed down at 26,844 points, marking a decline of 78 points over a week with overall trading volume decreasing.  
- Notable stock movements include a drop of 21.8% for Ctrip and a rise of 17.9% for Alibaba Health, with semiconductor stocks benefiting from strong performances in the tech sector.

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Hua Hong

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The Hang Seng Index failed to break through 27,000 for the fourth time, falling by 78 points. Pop Mart dropped by 6%, while AI chip stocks performed well. Experts are concerned that the upward trend may have ended｜Hong Kong stock market closing