"Hong Kong Stocks" Hang Seng Index closed down 348 points, OpenClaw concept heated up, MiniMax rose 24% against the trend

AASTOCKS
2026.03.09 08:32

Multiple countries in the Middle East have cut production, pushing oil prices above $100 per barrel. The peripheral stock markets are under pressure, and the Hong Kong stock market has fallen along with them. The Hang Seng Index opened down 681 points, at one point dropping 851 points to a low of 24,906 points, closing down 348 points or 1.4% at 25,408 points; the Hang Seng China Enterprises Index fell 46 points or 0.5% to close at 8,581 points; the Hang Seng Tech Index dropped 5 points or 0.12% to close at 4,941 points. The total market turnover for the day was HKD 392.33 billion.

In the oil sector, PetroChina (00857.HK) and CNOOC (00883.HK) rose 2.3% and 3.3%. Kunlun Energy (00135.HK) and Sinopec (00386.HK) fell 3.9% and 4.4%. In the oil equipment sector, Shandong Molong (00568.HK) surged 25%, with a turnover exceeding HKD 9.1 billion. In the coal sector, Shenhua (01088.HK) and Yanzhou Coal (01171.HK) rose 3.3% and 3.9%. In the commodities sector, China Silver (00815.HK) and Zijin Mining (02899.HK) fell 7% and 2.8%, while Shandong Gold (01787.HK) rose 3.7%. Both Luoyang Molybdenum (03993.HK) and Jiangxi Copper (00358.HK) fell 5.2% and 3%. In the energy transportation sector, COSCO Shipping Energy (01138.HK) dropped 8.5%. In the aviation sector, Cathay Pacific (00293.HK) fell 5.1%, while China Eastern Airlines (00670.HK) and Air China (00753.HK) dropped 2.9% and 3.7%.

In the financial sector, HSBC (00005.HK) and Hong Kong Exchanges and Clearing (00388.HK) fell 3.9% and 1.9%, while AIA (01299.HK) and Standard Chartered (02888.HK) dropped 4.4% and 5.2%. Bank of China Hong Kong (02388.HK) fell 2.4%. Domestic insurance stocks China Ping An (02318.HK) and PICC Property and Casualty (02328.HK) fell over 3%. Brokerage stocks Cathay Securities (02611.HK) and CITIC Securities (06030.HK) dropped 2.7% and 2.6%.

Inflation concerns have dampened interest rate cut expectations, leading local property stocks such as Sun Hung Kai Properties (00016.HK), Henderson Land (00012.HK), and Swire Properties (01972.HK) to fall between 3.6% and 4.1%, while Hang Lung Properties (00101.HK) dropped 4.9%. CK Hutchison (00001.HK) saw its Panama port company initiate international arbitration against the Panamanian government, claiming at least $2 billion, with its stock price declining 4.5%. Commodity stocks fell, with CITIC Limited (00267.HK) down 3.9%.

In the technology sector, Tencent (00700.HK) and JD.com (09618.HK) fell 0.6% and 1%, while Meituan (03690.HK) rose 2.4%. Kuaishou (01024.HK), Baidu (09888.HK), Alibaba (09988.HK), and Bilibili (09626.HK) fell between 1.5% and 1.8%, while NetEase (09999.HK) dropped 2.8% Chip stocks SMIC (00981.HK) and Hua Hong (01347.HK) fell 1.5% and 0.8%, respectively, while InnoCare (02577.HK) and Bairun (06082.HK) dropped 3.2% and 3%. Chip equipment stocks ASMPT (00522.HK) declined 3.3%. Robotics stock UBTECH (09880.HK) fell 3.5%. Mobile-related stock Lens Technology (06613.HK) decreased by 4.2%. Wire stock Yangtze Optical Fibre and Cable (06869.HK) rose 2.7%. Telecommunications equipment stock ZTE (00763.HK) saw a 33% drop in net profit last year, with its stock price falling 4.2%.

The OpenClaw craze has sparked interest in AI stocks, with Zhizhu (02513.HK) and Envision (03696.HK) rising 8.1% and 7.1%. MiniMax (00100.HK) surged 23.8%, reaching 1,000 HKD during the day, while cloud service providers Kingsoft Cloud (03896.HK) and GDS Holdings (09698.HK) increased by 13.7% and 5.9%.

Qingdao will distribute 250 million RMB in subsidies for vehicle trade-ins this month, leading to increases in car stocks BYD (01211.HK) and XPeng (09868.HK) by 3.5% and 5.7%, respectively. Xiaomi (01810.HK) rose 0.8%, while Geely (00175.HK) fell 3.4%. Autonomous driving stocks WeRide (00800.HK) and Pony.ai (02026.HK) dropped 4.8% and 6.7%, with Horizon Robotics (09660.HK) also down 4.8%. Pharmaceutical stocks WuXi AppTec (02268.HK) and CanSino Biologics (09926.HK) fell 3.4%, while 3SBio (01530.HK) decreased by 5.4%.

Gambling stocks Sands China (01928.HK) and Melco International (00200.HK) fell 4.2% and 4.3%. In other stocks, Lao Pu Gold (06181.HK) and Prada (01913.HK) dropped 4%, while DaMai Entertainment (01060.HK) and Bosideng (03998.HK) fell 5.2% and 8.1%, respectively. Techtronic Industries (00669.HK) decreased by 4.4%. The Tracker Fund of Hong Kong (02800.HK) closed down 1.2%, with a turnover of 40.3 billion HKD

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