The Hang Seng Index rises for three consecutive days, with net inflow from northbound capital exceeding 4.8 billion; Xiaomi and BYD rise

The US Dollar Index declined, while Hong Kong stocks continued to rise today. US retail sales preliminary value for December last year was weaker than expected, leading the market to anticipate a rate cut in the US. The Dow Jones Industrial Average rose 0.1% overnight, but the Nasdaq fell nearly 0.6%. At the time of writing, the yield on US 2-year bonds fell to 3.45%, and the yield on US 10-year bonds dropped to 4.137%, with the US Dollar Index falling to 96.57. Dow futures rose 109 points or 0.2%, and Nasdaq futures increased by 35 points or 0.1%. The Shanghai Composite Index rose 3 points or 0.09% to close at 4,131 points, while the Shenzhen Component Index fell 0.35%, and the ChiNext Index dropped 1.1%. The total trading volume in the Shanghai and Shenzhen markets was 1.98 trillion RMB.

The Hang Seng Index opened 63 points higher and then expanded its gains, rising 142 points to reach 27,325 points. It closed up 83 points or 0.3% at 27,266 points, marking three consecutive days of gains (a total increase of 706 points or 2.7%); the Hang Seng China Enterprises Index rose 25 points or 0.3% to close at 9,268 points; the Hang Seng Tech Index increased by 48 points or 0.9% to close at 5,499 points. The total trading volume for the day was 217.218 billion HKD. The total trading volume of northbound trading was 90.782 billion HKD, while southbound funds had a net inflow of 4.816 billion HKD today (net inflow of 84.66 million HKD on the previous trading day).

MSCI announced the quarterly review results for the China Index, with SenseTime (00020.HK) and Pony.ai (02026.HK) being included, both of which saw their stock prices rise by 2.9% and 2.6% respectively. Hesai (02525.HK) surged by 7.9%, while Yangtze Optical Fibre and Cable (06869.HK) saw its stock price retract by 5.7%.

【Hang Seng Index Rises for Three Consecutive Days, Xiaomi Provides Support】

Tech stocks performed mixed, with Tencent (00700.HK) declining 0.5% to close at 548 HKD, with a trading volume of 12.992 billion HKD, and Alibaba (09988.HK) falling 0.2% to close at 160.1 HKD, with a trading volume of 8.312 billion HKD. Xiaomi (01810.HK) saw its stock price rise nearly 4.3% to close at 37.1 HKD, with a trading volume of 8.26 billion HKD.

Domestic media reported that President Xi Jinping visited the National Innovation Park located in Beijing's Yizhuang on Monday morning (the 9th), where he communicated with representatives of researchers and technology companies. He carefully observed the display of technological innovations such as artificial intelligence and robotics, and exchanged views with representatives of researchers and technology companies. Lei Jun, the founder of Xiaomi and one of the representatives of technology companies present, stated that this year marks the beginning of the "14th Five-Year Plan." Xi's visit to Beijing to inspect technological innovation work sends a clear signal that China is accelerating the development of new productive forces led by technological innovation. He expressed that as a frontline worker in a technology company, he felt honored to have the opportunity to listen to Xi's earnest teachings on-site. This has provided researchers and technology company leaders with ample encouragement and confidence, and this care will transform into the motivation for all technology companies and workers to innovate and work hard.

【One Thousand Stocks Rise, BYD Performs Well】

The Hong Kong stock market continued to improve, with a rise-to-fall ratio of 29 to 21 for main board stocks (compared to 31 to 20 the previous day), with 1,197 rising stocks (an increase of 2.7%). Today, 62 constituent stocks of the Hang Seng Index rose, while 23 fell, with a rise-to-fall ratio of 70 to 26 (compared to 63 to 38 the previous day). The market recorded short selling of 33.973 billion HKD today, accounting for 17.943% of the total trading volume of shortable stocks at 189.336 billion HKD (compared to 17.138% the previous day) Spot gold prices rose 0.58% to USD 5,054.75 per ounce, with gold and silver stocks increasing. China Silver (00815.HK), Zijin Mining (02899.HK), Shandong Gold (01787.HK), and China Gold International (02099.HK) rose by 2.8% to 4.4%, while Lingbao (03330.HK) and Zijin Gold International (02259.HK) increased by 7.8% and 9.1%.

BYD (01211.HK) saw its stock price rise 3.5% to HKD 99.15, while Geely (00175.HK) and Li Auto (02015.HK) both increased by 2.7%. The European Commission approved the application submitted by Volkswagen's Cupra brand, allowing its Tavascan SUV coupe produced in China to be exempt from import tariffs, in exchange for adopting a minimum price and quota mechanism, marking the first time the EU has accepted such commitments