The "Market Review" reports that tech stocks lead the rise in Hong Kong stocks, with JD.com stocks dancing and pharmaceutical stocks climbing

Driven by the rise of Alibaba-W (09988.HK), Tencent (00700.HK), and Xiaomi-W (01810.HK), the Hong Kong stock market continued to rise today (6th). Concerns over the Iran war have intensified again, raising worries about high oil prices. The Dow Jones and Nasdaq fell 1.6% and 0.3% respectively on the night of the 5th. At the time of writing, the yield on the US 2-year Treasury bond fell to 3.596%, while the yield on the 10-year Treasury bond rose to 4.152%, and the US dollar index dropped to 99.02. The latest Dow futures rose by 82 points or 0.17%, and Nasdaq futures rose by 50 points or 0.2%. The Shanghai Composite Index rose by 15 points or 0.38% to close at 4,124 points, the Shenzhen Component Index rose by 0.6%, and the ChiNext Index rose by 0.4%, with a total trading volume of 2.2 trillion yuan in the Shanghai and Shenzhen markets.

The Hang Seng Index opened 37 points higher, and the gains expanded before noon, reaching a peak of 485 points at 25,806 points, closing up 435 points or 1.7% at 25,757 points; the Hang Seng China Enterprises Index rose by 176 points or 2.1% to close at 8,628 points; the Hang Seng Tech Index rose by 151 points or 3.2% to close at 4,947 points. The total trading volume for the day was 292.766 billion yuan. The total trading volume of northbound funds was 118.502 billion yuan, while southbound funds recorded a net outflow of 2.188 billion yuan today (compared to a net outflow of 27.735 billion yuan on the previous trading day), marking the third consecutive trading day of net outflow. The Tracker Fund of Hong Kong (02800.HK) rose by 1.6% to close at 25.92 yuan, with a trading volume of 17.764 billion yuan, and the short-selling ratio dropped to 7.325% (compared to a 3-day average of 16.899%). After the market closed, the Hang Seng Index changed its constituent stocks, with "blue-chip" stocks such as CATL (03750.HK) and Lao Pu Gold (06181.HK) rising by 2.6% and 3.4% respectively, while Luoyang Molybdenum (03993.HK) fell by 3.5%, and Zhongsheng (00881.HK), which will be removed from the Hang Seng Index, rose by 4.4%.

The Hang Seng Index has fallen a total of 873 points or 3.3% this week, the Hang Seng China Enterprises Index has fallen a total of 231 points or 2.6% this week, and the Hang Seng Tech Index has fallen a total of 190 points or 3.7% this week, while southbound funds have recorded a net outflow of 7.37 billion yuan this week (compared to a net inflow of 6.705 billion yuan last week). The US and Israel have launched military actions against Iran, with US-Israeli airstrikes on Iran and Iranian missile attacks on Israel and US military bases. As the conflict is unlikely to end in the short term, the market is concerned about the risks of disruptions to global shipping and supply chains.

【Northbound Funds Continue to Flow Out, JD Group Soars】

After announcing its earnings, JD Group's stock price surged. JD-SW (09618.HK) rose by 10% to 106.6 yuan, and JD Logistics (02618.HK) surged by 23% to close at 12.63 yuan, making it the largest blue-chip stock gain. Brokers cited the company's management as optimistic about a revenue growth outlook of 20% to 25% for the fiscal year 2026. JD Health (06618.HK) and JD Industrial (07618.HK) rose by 1.9% and 7.1% respectively. JD CEO Xu Ran pointed out that this year they will continue to strengthen JD's delivery capabilities, and if the market competition remains stable, the total investment in delivery services this year will be lower than last year Tencent rose 3.4% to close at HKD 519, Alibaba increased by 3.5% to close at HKD 130.7, Meituan-W (03690.HK) rose 3.2%, Baidu-SW (09888.HK) and Kuaishou-W (01024.HK) both rose 3.1%, while NetEase-S (09999.HK) saw a price increase of 5.2% throughout the day. In response to recent rumors circulating online about Alibaba's "core team of the Qianwen model collectively resigning" and "adjustments to open-source strategies," the group stated that the Qianwen model team is currently stable and there has been no "collective resignation," with all products and services operating normally.

【Stocks Rising Over 1,000: Xiaomi Has Support】

The Hong Kong stock market showed a positive trend, with a rise-to-fall ratio of 33 to 18 for main board stocks (compared to 32 to 19 the previous day), and 1,359 stocks rose (an increase of 3%). Today, 71 constituent stocks of the Hang Seng Index rose, while 17 fell, resulting in a rise-to-fall ratio of 81 to 19 (compared to 52 to 45 the previous day). The market recorded short selling of HKD 45.228 billion, accounting for 20.96% of the total turnover of shortable stocks, which was HKD 215.782 billion.

BYD (01211.HK) released its second-generation blade and fast-charging technology, with its stock price rising 2.3% to close at HKD 94.7. Xiaomi's stock price briefly surged by 6%, reaching a high of HKD 34.14, and closed up 3.8% at HKD 33.42, with a turnover of HKD 9.802 billion. Xiaomi's founder Lei Jun recently stated that the cost pressure of memory chips is significant, and efforts are being made to improve internal efficiency to absorb these cost pressures and reduce the difficulty for consumers to accept them.

In addition, Zheng Zhanjie, director of the National Development and Reform Commission, stated at a press conference on the economic theme of the National People's Congress that the six emerging pillar industries, including integrated circuits, aerospace, biomedicine, low-altitude economy, new energy storage, and intelligent robotics, are expected to reach nearly RMB 6 trillion in output value by 2025, and are likely to double or even more by 2030, expanding to over RMB 10 trillion. Pharmaceutical stocks rose, with Heng Rui (01276.HK), Junshi (01877.HK), Fosun Pharma (02196.HK), Kingsoft (01548.HK), Kangfang (09926.HK), and Innovent Biologics (01801.HK) rising between 4.7% and 6.2%, while Yiming-B (09606.HK), Sanofi (01530.HK), and Rongchang (09995.HK) rose by 8.4%, 9.4%, and 10.9%, respectively