<p>The dawn of the US-Iran war is emerging, oil prices are falling, and Asian stock markets are rebounding. The Hong Kong stock market opened high and rose throughout the early session, with the Hang Seng Index recovering all the losses from this Monday. However, there was selling pressure at high levels, and the Hang Seng Index turned to decline again. In the afternoon, news of a competitive opportunity in the takeaway platform sector stimulated the market, with Meituan (3690) leading the rise of takeaway platform stocks, and the Hang Seng Index ultimately closed at 25,335 points, up 272 points, breaking through the bull-bear boundary. The total market turnover increased to HKD 350.9 billion, remaining at the HKD 300 billion level for five consecutive days, with northbound capital inflow of HKD 22.322 billion.</p>
<p>The Hang Seng Index opened up 217 points, reaching a maximum increase of 327 points, creating a nearly one-week high. However, there was selling pressure at high levels, causing the Hang Seng Index to lose some of its gains, briefly turning down by 48 points. Nevertheless, in the afternoon, heavyweight stocks like Meituan and Alibaba (9988) rallied, driving the Hang Seng Index to regain its upward momentum, closing at 25,335 points, up 272 points. The National Index closed at 8,582 points, up 83 points; the Tech Index closed at 4,922 points, up 92 points.</p>
<h2>Alibaba and JD.com rise over 4%</h2>
<p>It was reported that in the afternoon, the State Administration for Market Regulation of China reprinted a commentary article from the Economic Daily titled &#34;The Takeaway War Should End,&#34; leading the market to anticipate the end of the domestic takeaway war, which supported the rise of takeaway platform stocks. The soon-to-be-released earnings report from takeaway giant Meituan surged by 13.9%, closing at HKD 90, making it the best-performing blue-chip stock; another takeaway giant, Alibaba, rose by 4.6%, closing at HKD 128.9; JD.com (9618) increased by 4.9%, closing at HKD 112.4, with the three stocks contributing over 196 points to the market.</p>
<p>Some technology stocks weakened against the trend. Tencent (700) fell by 1.7%, closing at HKD 505.5; Baidu (9888) dropped by 0.5%, closing at HKD 112; SenseTime (020) saw its annual net loss significantly narrow by 58.6%, and its EBITDA turned positive for the first time in the second half of the year after going public, but its stock price still declined by 1.6%, closing at HKD 1.88.</p>
<h2>Pop Mart plunges 22.5% after earnings</h2>
<p>The performance of important earnings stocks was mixed. Nongfu Spring (9633) saw its net profit rise by 30.9% year-on-year last year, receiving favorable ratings from major institutions like Credit Lyonnais, with its stock price rising by 9.3%, closing at HKD 46.42; Haidilao (6862) earned less last year, falling by 14%, and dropped 11.1%, closing at HKD 14.22; another key stock, Pop Mart (9992), earned nearly three times more last year, with LABUBU contributing over 38% of its revenue. However, the market may be concerned about its excessive reliance on a single core IP, leading to a sharp drop of 22.5% for Pop Mart after earnings, closing at HKD 168.3, making it the worst-performing blue-chip stock.</p>
<p>Related article: Pop Mart plunges 22% after earnings, reliance on LABUBU disappoints the market, fans feel unfulfilled: &#34;Not interested in blindly buying anymore.&#34;</p>
<p>With hopes for the end of the conflict, oil prices have fallen, and gold prices have risen. Oil and gold stocks are developing separately. Oil and related stocks weakened, with CNOOC (883) falling 3.2%, closing at HKD 28.5; Shandong Molong (568) dropped 7.1%, closing at HKD 9.88; gold stocks, on the other hand, rose, with Zijin Mining (2899) up 2.2%, closing at HKD 35.62; its affiliate, Zijin Gold International (2259), rose 1.2%, closing at HKD 182.3;
Zhaojin (1818) rose 4.3%, closing at HKD 30.2.</p>
<h2>Kaisa Group's Earnings Surprise Soars 27.3%</h2>
<p>In terms of individual stocks, CK Hutchison (001) subsidiary Panama Ports Company has increased its claim against the Panamanian government to over USD 2 billion, with CK Hutchison's stock price rising 2.3%, closing at HKD 60.3; Kaisa Group (1638) announced an earnings surprise, with last year's net profit not less than RMB 50 billion, due to the recognition of overseas debt restructuring gains last year, causing its stock price to soar 27.3%, closing at HKD 0.098.</p>
<h2>Chen Weicong: Takeaway War Ceases, Positive Atmosphere</h2>
<p>East Asia Securities senior investment strategist Chen Weicong stated that the situation in the Middle East has eased, especially with short-term signs of peace talks between the U.S. and Iran, leading the market to anticipate that the war may be postponed. Meanwhile, Iran has stated that all vessels except hostile fleets are allowed to pass through the Strait of Hormuz, causing international oil prices to fall, which has overall improved market sentiment. Additionally, if future takeaway platform subsidies decrease, it will help improve corporate profitability, providing a short-term stimulus to the market, but details need to be monitored. He expects the Hang Seng Index to face resistance in the short term around 25,600 to 25,700 points.</p>
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<p>1220: With signs of a U.S.-Iran ceasefire, the Hang Seng Index opened 216 points higher this morning, peaking at a 326-point gain, reaching 25,390 points. The gain gradually narrowed, closing at only 9 points or 0.04% higher at 25,072 points at noon. The turnover was HKD 151.293 billion.</p>
<p>The Tech Index turned from gains to losses, dropping 23 points or 0.48%, closing at 4,807 points.</p>
<p>Tech stocks had mixed developments, with Xiaomi (1810) falling 3.3% after earnings; Tencent (700) down 1.94%; Baidu (9888) down 2.13%. Alibaba (9988) rose 0.56%; Meituan (3690) rose 0.12%; JD.com (9618) rose 1.11%.</p>
<h2>WuXi Biologics Falls Nearly 3% After Earnings</h2>
<p>Nongfu Spring (9633) received positive ratings from major brokerages after earnings, rising 8.76% at noon. Haidilao (6862) reported a 14% drop in profit last year, with its stock price falling 10.38% at noon. WuXi Biologics (2269) fell 2.95% after earnings.</p>
<p>CK Hutchison (001) subsidiary Panama Ports Company has increased its claim against the Panamanian government to over USD 2 billion, with CK Hutchison closing at HKD 60.3, up 2.29%.</p>
<h2>CNOOC Drops 3.5% While Gold Stocks Rise</h2>
<p>With hopes for the end of the conflict, oil prices have fallen and gold prices have risen. CNOOC (883) dropped 3.53%; Shandong Molong (568) fell 2.25%. Zijin Mining (2899) rose 1.43%, and Zijin Gold International (2259) rose 2.44%; Zhaojin Mining (1818) and Shandong Gold (1787) both rose over 3%; China Silver Group (815) rose 4.39%.</p>
<p>———</p>
<p>0930: Reports indicate that the U.S. has submitted a comprehensive ceasefire agreement containing a &#34;15-point plan&#34; to Iran through Pakistan, aimed at completely ending the U.S.-Iran conflict; President Trump's son-in-law Jared Kushner and Middle East envoy Steve Witkoff are responsible for mediation, which will push for a one-month ceasefire to initiate negotiations
After the news broke, Brent crude oil and New York crude oil fell by 6.6% and 5.6% respectively.</p>
<p>The Hang Seng Index opened 216 points higher, starting at 25,280 points. Xiaomi Group (1810) opened down 1.95%, with an adjusted net profit of HKD 6.349 billion in the fourth quarter of last year, a year-on-year decrease of 23.7%, slightly better than expected. WuXi Biologics (2269) rose 1.06%, with a 46.3% increase in net profit for the last fiscal year, and no final dividend declared.</p>
<p>Haidilao (6862) fell 4%, with a 14% drop in net profit for the entire year; it declared a final dividend of HKD 0.384, a year-on-year decrease of 24.3%. Nongfu Spring (9633) opened 6% higher, with a 30.9% increase in net profit for the entire year; the final dividend per share is HKD 0.99, a year-on-year increase of 30.3%.</p>
<p>China Telecom (728) reported a 0.5% increase in net profit for the entire year, with a final dividend of HKD 0.0908, a year-on-year decrease of 2%. The total annual dividend is HKD 0.272, a year-on-year increase of 4.7%. It opened down 0.4% this morning.</p>
<p>Regarding the movement of northbound capital, on Tuesday, net selling of Hong Kong stocks amounted to HKD 27.361 billion. Tencent Holdings (700), Pop Mart (9992), and Yangtze Optical Fibre and Cable (6869) saw net purchases of HKD 750 million, HKD 648 million, and HKD 485 million respectively; while Tracker Fund (2800), Hang Seng China Enterprises (2828), and CSOP HS Tech (3033) experienced net selling of HKD 13.071 billion, HKD 5.959 billion, and HKD 5.957 billion respectively.</p>
<p>As for the US stock market, it faced pressure again on Tuesday, with reports of the US planning to increase troops in the Middle East, causing oil prices to rise again, and the Dow Jones Industrial Average fell by over 400 points at one point. Subsequently, positive signals emerged from US-Iran negotiations, and the Dow closed down 84 points or 0.18%, at 46,124 points; the S&amp;P 500 fell 24 points or 0.37%, at 6,556 points; the Nasdaq fell 184 points or 0.84%, at 21,761 points; the Golden Dragon Index, which reflects the performance of Chinese concept stocks, fell 0.43%, at 6,771 points.</p>
<p>The US cryptocurrency bill Clarity Act may prohibit stablecoin issuers from paying yields similar to &#34;interest&#34; solely because customers hold stablecoins, causing Circle's stock price to plummet by about 20%, and Coinbase to drop by 9.76%.</p>
<p>Amazon AWS is developing AI agents, and Anthropic has launched desktop AI tools, which may accelerate office automation, leading to a significant decline in software stocks, with Salesforce down over 6% and Adobe down over 3%</p>

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<p>The Hang Seng Index rose by 272 points, closing at 25,335 points, with a turnover of HKD 350.9 billion. Meituan's stock price surged by 13.9%, while Alibaba and JD.com rose by 4.6% and 4.9%, respectively. The optimistic sentiment towards competition in the food delivery platform sector drove the stock market rebound, with northbound capital inflow of HKD 22.322 billion. Despite selling pressure at high levels, the Hang Seng Index still broke through the bull-bear boundary. Some technology stocks performed poorly, with Tencent and Baidu experiencing slight declines. Overall market sentiment is positive, and it is expected that the food delivery war will come to an end</p>

- In response to easing tensions between the U.S. and Iran, Asian markets rebounded, with Hong Kong's Hang Seng Index closing at 25,335 points, up 272 points.  
- The rise was fueled by leading delivery platform stocks like Meituan and Alibaba, while some technology stocks, including Tencent, faced declines.  
- Overall market turnover increased to 350.9 billion HKD, driven by significant movements in key sectors and individual stocks amid anticipation of improved profitability for delivery platforms.

Stheadline

JD.com

TRACKER FUND

JD HEALTH

ISHARESHSI

Hwabao CSI HK Equities Internet ETF

JD LOGISTICS

MEITUAN

Alibaba

E Fund CSI HK Connect Internet ETF

China Southern Hang Seng ETF

FL2 CSOP HSI

CSOP HSI ETF

Yinhua MSCI China A ETF

Hang Seng Index

ChinaAMC Hang Seng ETF

BABA-W

CSOP HS TECH

FI2 CSOP HSI

The Hang Seng Index rose by 272 points, crossing the bull-bear line, with a turnover of HKD 350.9 billion. Meituan rose nearly 14%. Analysis: Resistance at 25,600 is expected in the upward test | Hong Kong stock market opens