The Hang Seng Index fell 182 points throughout the day, while energy and aluminum stocks rose, and AI stocks took profits

The International Energy Agency (IEA) agreed to release 400 million barrels of oil, but international oil prices rose again, and Hong Kong stocks fluctuated downwards. The Hang Seng Index opened down 179 points, initially rising 33 points to a high of 25,932 points before falling again, dropping 377 points to a low of 25,521 points. Subsequently, as the rise in international oil prices narrowed, Hong Kong stocks recovered some ground, closing down 182 points or 0.7% at 25,716 points; the National Index fell 4 points or 0.1% to close at 8,699 points; the Hang Seng Tech Index fell 27 points or 0.5% to close at 5,027 points. The total market turnover for the day was HKD 242.18 billion.

Natural gas stock KUNLUN ENERGY (00135.HK) and oil stock CNOOC (00883.HK) rose 2.4% and 3.7%, respectively, while oil equipment stock Shandong Molong (00568.HK) rose 2.3%, with a turnover exceeding HKD 4.76 billion. Coal stocks YANKUANG ENERGY (01171.HK) and China Coal (01898.HK) rose 8.3% and 4.9%. However, coal equipment stock SANY International (00631.HK) fell 5.9%. In the new energy sector, Datang New Energy (01798.HK) and Goldwind (02208.HK) rose 8.2% and 7.2%, respectively, while Longyuan (00916.HK) rose 2.9%, and GCL-Poly Energy (03800.HK) fell 3.5%. Traditional power stock Datang Power (00991.HK) rose 5.1%.

Aluminum stocks Hongqiao (01378.HK) and China Aluminum (02600.HK) rose 3.9% and 4.4%, respectively, while Innovation Industry (02788.HK) surged 11.3%. Resource stocks Minmetals Resources (01208.HK) and China Molybdenum (03993.HK) fell 2.1% and 3.9%, respectively. Gold stocks Zhaojin (01818.HK), Zijin Mining International (02259.HK), and Lingbao (03330.HK) fell 3.1% to 3.6%. China Silver (00815.HK) also fell 3.6%.

Inflation concerns weighed on real estate and utility stocks. Hang Lung Properties (00012.HK), Sun Hung Kai Properties (00016.HK), and Wharf Real Estate Investment (01997.HK) fell 2.6% to 3.6%. MTR Corporation (00066.HK) announced its earnings after the market closed, with its stock price falling 1.5%.

In the technology sector, Tencent (00700.HK), Alibaba (09988.HK), Meituan (03690.HK), Baidu (09888.HK), NetEase (09999.HK), and Kuaishou (01024.HK) fell 0.6% to 1.2%, while JD.com (09618.HK) rose 0.8%. Additionally, Bilibili (09626.HK) and Tencent Music (01698.HK) fell 2.8%, and Xindong (02400.HK) fell 4.7%. AI stocks Zhizhu (02513.HK) and SenseTime (00020.HK) fell 8.9% and 8.3%, respectively, while Envision AI (03696.HK) and MiniMax (00100.HK) fell 4.7% and 5% Chip stock SMIC (00981.HK) fell 1%, while Hua Hong (01347.HK) rose 3.5%. Mobile component stock Q Technology (01478.HK) increased by 4.6%. Wire stock Changfei Fiber Optics (06869.HK) retreated by 3.5%.

In the pharmaceutical sector, Kanglong Huacheng (03759.HK) reached a production cooperation agreement for Orforglipron with Eli Lilly (LLY.US), with its stock price soaring by 8.4%. CSPC Pharmaceutical (01093.HK) and WuXi AppTec (02268.HK) fell by 4.5% and 3.7%, respectively, while Weigao (01066.HK), Sanofi (01530.HK), and Innovent Biologics (01801.HK) each dropped by 3%. Kangfang (09926.HK) decreased by 3.3%.

In the financial sector, HSBC (00005.HK) fell by 0.4%, while Hong Kong Exchanges and Clearing (00388.HK) and AIA (01299.HK) dropped by 1.2% to 2.4%. The Securities and Futures Commission and the Independent Commission Against Corruption searched the premises of Guotai Junan International (01788.HK) on Tuesday (10th) and detained one employee, causing Guotai Junan International to fall by 4.2% to HKD 2.51. Guotai Haitong (02611.HK) also fell by 4.2%. In other stocks, JD Logistics (02618.HK) and JD Industrial (07618.HK) rose by 4.2% and 5.5%. Yihai (01579.HK) and Laopu Gold (06181.HK) increased by 4.6% and 3.2%, while Nongfu Spring (09633.HK), Haitian Flavoring & Food (03288.HK), and Mao Geping (01318.HK) fell by 3.6% to 4.4%