<p>The Iran conflict shows no signs of ceasefire, and international oil prices have risen to their highest level since mid-2024. Market fears of inflation are resurfacing, leading to a decline in US stocks overnight, but Asian stock markets remained unaffected and generally performed well. The Hong Kong stock market opened high and continued to rise, driven by the rebound of technology stocks, with the Hang Seng Index closing at 25,757 points, up 435 points or 1.7%, marking the largest single-day increase since February 23, and it was the best-performing Asian stock market. The total market turnover slightly fell to HKD 29.27 billion, below HKD 30 billion, the lowest single-day turnover this week. Northbound capital continued to flow out, with a net outflow of HKD 2.188 billion for the third consecutive day.</p>
<p>After opening 37 points higher, the Hang Seng Index briefly fell by 54 points in the early session but quickly regained momentum, rising as much as 485 points, and maintained a high closing at 25,757 points, up 435 points. The National Index closed at 8,628 points, up 176 points or 2.1%. The Technology Index outperformed the market, closing at 4,947 points, up 151 points or 3.2%.</p>
<h2>Hang Seng Index fell 873 points this week, JD Health down 15%</h2>
<p>For the week, the Hang Seng Index fell a total of 873 points or 3.3%, the largest weekly decline since mid-November last year; the National Index fell 231 points or 2.6%; the Technology Index fell 190 points or 3.7%, marking three consecutive weeks of decline. In terms of stocks, JD Group had mixed results, with JD Logistics (2618) rising 13.1%, making it the best-performing blue-chip stock this week; JD Health (6618) fell 14.7%, making it the worst-performing blue-chip stock this week.</p>
<h2>JD surged 10% in a single day</h2>
<p>Entering the earnings season, JD Group performed strongly after its results, with JD (9618) reporting adjusted earnings for the fourth quarter that met expectations, and the loss in its delivery business decreased quarter-on-quarter. JD surged 10%, closing at HKD 106.6. JD Logistics (2618) soared 23%, closing at HKD 12.63, making it the best-performing blue-chip stock; JD Industrial (7618) rose 7.1%, closing at HKD 11.47; JD Health (6618) increased by 1.9%, closing at HKD 48.4.</p>
<h2>ATM rose over 3%</h2>
<p>Other heavyweight tech stocks led the market, with Alibaba (9988) rising 3.5%, closing at HKD 130.7; Meituan (3690) up 3.2%, closing at HKD 76.85; Tencent (700) up 3.4%, closing at HKD 519. Xiaomi (1810) launched its mobile Agent product &#34;Xiaomi miclaw,&#34; with its stock price rising 3.8%, closing at HKD 33.42. Bilibili (9626) reported revenue and adjusted profit for the fourth quarter that exceeded expectations, but its stock fell 4.5% post-results, closing at HKD 201.2.</p>
<p>The government work report from the National Two Sessions has explicitly included the biopharmaceutical industry in the national &#34;emerging pillar industries&#34; sequence for the first time, significantly strengthening the biopharmaceutical sector. PharmaEssentia (2617) soared 43.5%, closing at HKD 92; Yiming Anke (1541) jumped 17.2%, closing at HKD 4.43; Ying'en Biotechnology (9606) rose 8.4%, closing at HKD 315.6;
Hansoh Pharmaceutical (3692) rose 3.4%, closing at HKD 33.6. Hutchison China MediTech (013) reported a year-on-year profit increase of 11 times last year, with its stock price rising 5.3%, closing at HKD 22.18.</p>
<p>Electric vehicle stocks generally rose, with Daiwa Capital Markets releasing a report indicating that the US-Iran conflict has driven up oil prices, which may accelerate the adoption of electric vehicles; at the same time, the two sessions in China have signaled a deepening crackdown on involution competition. Geely (175) rose 7.9%, closing at HKD 16.36; Leapmotor (9863) rose 5.9%, closing at HKD 40.74; XPeng (9868) increased by 4.2%, closing at HKD 66.35; Li Auto (2015) rose 2.8%, closing at HKD 67.45. BYD (1211) announced its second-generation blade battery and flash charging technology, with energy replenishment efficiency close to that of fuel vehicles, and its stock price also rose 2.3%, closing at HKD 94.7.</p>
<h2>Trip.com Responds to Involution, Stock Price Rises 7%</h2>
<p>In terms of individual stocks, Prada (1913), the parent company of Prada, reported a 1.6% increase in profit last year, but was downgraded by major brokerage Citic Securities, which believes it will be affected by the slowdown in growth of its brand Miu Miu and the dilution of its stake in Versace. Prada's stock fell 5.8%, closing at HKD 40.88. Trip.com (9961) will launch the &#34;AI Business Assistant&#34; (Pricing Assistant) feature next Thursday, aimed at reducing irrational price &#34;involution&#34; among hotels, and the company's stock price rose 7.2%, closing at HKD 418.</p>
<h2>Wu Lixian Expects Strong Support at 25,000 Points</h2>
<p>Guangda Securities International strategist Wu Lixian stated that the main reason for the rebound in Hong Kong stocks is that this round of decline started earlier than other markets, technically falling to the critical support level of 25,000 points, forming a strong stop-loss force. Additionally, JD's performance has driven its stock price up, which in turn has boosted Alibaba, Meituan, and other tech stocks, contributing significantly to the rebound. He continued to point out that the performance in the past two days may only be a brief technical rebound after an oversold condition, estimating that the situation in the Middle East will continue to trouble the Hong Kong stock market. The Hong Kong stock market is expected to remain volatile next week, with the Hang Seng Index's short-term fluctuation range being 25,000 to 26,300 points, and he advised investors not to be overly aggressive in their strategies.</p>
<p>Regarding the two sessions, Wu Lixian stated that the measures proposed in the two sessions, such as combating involution, stimulating domestic demand, and promoting AI development, provide support for different industries and are one of the many factors driving the rebound of tech and automotive stocks.</p>
<p>———</p>
<p>Hong Kong stocks rose steadily this morning, with the Hang Seng Index slightly opening up 37 points before briefly falling 53 points, then regaining upward momentum, rising as much as 481 points, and closing at 25,788 points, up 468 points or 1.85%. The turnover was HKD 141.272 billion. The Tech Index rose 177 points or 3.7%, reporting 4,973 points.</p>
<p>JD's performance after the earnings report was strong, with JD Logistics (2618) soaring 21.3% in half a day, making it the best-performing blue chip; JD (9618) also rose 8.51%; JD Health (6618) increased by 3.49%
Tech stocks led the market, with Alibaba (9988) rising 4.27% to HKD 131.7; Tencent (700) up 3.98% to HKD 522; Meituan (3690) also up 3.96%; Xiaomi (1810) and NetEase (9999) both up 5.9%; Ctrip (9961) surged 7%. Bilibili (9626) fell 2.37% after its earnings report.</p>
<p>Domestic demand stocks were in demand, with Mengniu (2319) up 5.89% at midday; Haidilao (6862) and Jiumaojiu (9922) both up 3%; Li Ning (2331) and Anta (2020) rose 2.2% and 1.46%, respectively.</p>
<p>———</p>
<p>0930: The conflict in Iran continues, with oil prices rising to their highest level since mid-2024. All three major U.S. stock indices fell on Thursday, with the Dow Jones dropping as much as 1,162 points, closing down 784 points or 1.61% at 47,954 points; the S&amp;P 500 fell 38 points or 0.56% to 6,830 points; the Nasdaq dropped 58 points or 0.26% to 22,748 points; the Golden Dragon Index, which reflects the performance of Chinese concept stocks, declined 1.43% to 6,913 points.</p>
<p>Related article: Unclear developments in the Middle East conflict reignite market concerns, oil prices surge, Dow closes down 784 points after dropping over 1,100 points.</p>
<p>In Hong Kong stocks, the Hang Seng Index opened up 37 points at 25,358 points. Major tech stocks remained stable, with Tencent (700) up 0.39%; Alibaba (9988) up 0.47%; Meituan (3690) unchanged; Xiaomi (1810) up 0.87%; NetEase (9999) up 1.78%.</p>
<p>JD.com (9618) reported a 90% year-on-year decline in adjusted net profit for the fourth quarter last year, in line with expectations; it opened this morning at HKD 98.5, up 1.59%. JD Logistics (2618) reported a 7.5% increase in adjusted profit last year, with its stock price opening up 6.43%. JD Health (6618) reported a 68.9% increase in adjusted profit for the year, with its stock price also opening up 3.57%.</p>
<p>Bilibili (9626) fell 2.75% to HKD 204.8, with the company reporting a 94% year-on-year increase in adjusted net profit for the fourth quarter, exceeding expectations.</p>
<p>Other focus stocks include PetroChina (857) up 1.46%; AIA (1299) up 1% to HKD 86.</p>
<p>Regarding northbound capital movements, on Thursday, southbound funds net sold HK stocks worth HKD 27.735 billion. Tencent (700), CNOOC (883), and Shandong Molong (568) received net purchases of HKD 1.541 billion, HKD 322 million, and HKD 82.7 million, respectively; notably, Tencent has received net purchases for five consecutive days, with a cumulative net purchase amount of nearly HKD 7 billion. Tracker Fund (2800), Hang Seng China Enterprises (2828), and Southern Hang Seng Technology (3033) faced net sales of HKD 13.661 billion, HKD 6.073 billion, and HKD 3.9 billion, respectively</p>

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<p>The Hang Seng Index closed at 25,757 points, up 435 points or 1.7%, marking the largest single-day increase since February. JD LOGISTICS surged 23%, becoming the best-performing blue-chip stock, while JD HEALTH fell 14.7%. Despite rising international oil prices and increasing market concerns about inflation, Hong Kong stocks performed strongly, driven by technology stocks. The total market turnover slightly decreased to HKD 292.7 billion, with net outflows from northbound capital for three consecutive days totaling HKD 2.188 billion</p>

- The ongoing conflict in Iran has caused international oil prices to rise to their highest levels since mid-2024, creating inflation concerns.  
- The Hong Kong stock market, led by technology stocks, closed higher with the Hang Seng Index at 25,757 points, up 435 points or 1.7%, marking its largest single-day rise since February 23.  
- Despite the positive performance in Asia, U.S. markets fell on the same day, prompting cautious investor sentiment moving forward.

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JD HEALTH

The Hang Seng Index surged 435 points, JD LOGISTICS soared 23% after earnings, tech stocks led the market, experts remind that the troubles from the conflict have not been resolved | Hong Kong stock market closing