"Hong Kong Stocks" Hang Seng Index opened down 68 points, KUAISHOU fell nearly 10%, JD continued to rise

The White House indicated that the meeting between the Chinese and U.S. presidents will be held in Beijing in mid-May. The market hopes that the U.S. and Iran can reach a ceasefire agreement, with the Dow Jones rising 0.7% overnight. In the early Asian market, developments were mixed. In Hong Kong stocks, the Hang Seng Index opened down 68 points or 0.3%, at 25,267 points; the National Index opened down 34 points or 0.4%, at 8,547 points; the Hang Seng Tech Index opened down 33 points or 0.7%, at 4,889 points.

KUAISHOU (01024.HK) reported a 16% increase in adjusted net profit in the fourth quarter of last year, nearing the upper limit of expectations. Management stated that they will increase AI investments, and the market is concerned about challenges from the AI video large model SkyReels-V4. The stock opened down 9.7% at HKD 47.9. JINRUAN (03888.HK) reported a 29% increase in annual net profit, with the stock opening up 0.3%. KINGSOFT CLOUD (03896.HK) saw a 2.66 times increase in adjusted EBITDA for the year, with the stock opening up 3.3% at HKD 7.8. SUTENG JUCHUANG (02498.HK) achieved a turnaround in the fourth quarter of last year, with the stock opening up 5% at HKD 33.78.

In the tech sector, TENCENT (00700.HK) opened down 0.9%. MEITUAN (03690.HK) announced its earnings after the market closed, with the stock opening flat at HKD 90. JD (09618.HK) opened up 2.5%, while ALIBABA (09988.HK) and BAIDU (09888.HK) opened down 0.7% and 0.3%, respectively. NETEASE (09999.HK) opened flat at HKD 176.3. In the chip sector, SMIC (00981.HK) and HUARONG (01347.HK) opened down 0.9% and 0.2%, respectively. AI stock ZHIPU (02513.HK) is collaborating to develop multimodal large model technology for the new generation S-class sedan, with the stock opening up 2.6% at HKD 780. MiniMax (00100.HK) opened up 1.9% at HKD 1,100.

In the automotive sector, BYD (01211.HK) opened up 0.3% at HKD 106.7, while XIAOMI (01810.HK) opened down 0.5%, and NIO (09866.HK) opened down 2.4%. In the battery sector, CATL (03750.HK) opened down 2.7%.

In the financial sector, HSBC (00005.HK) and AIA (01299.HK) opened up 0.5% and 0.3%, respectively, while the Hong Kong Stock Exchange (00388.HK) opened down 0.1%. In the domestic insurance sector, CHINA TAIPING (00966.HK) reported a 2.21 times increase in annual net profit, with the stock opening up 5.3%. CHINA LIFE (02628.HK) reported a 44% year-on-year increase in annual net profit, with the stock opening down 0.5% at HKD 27.22.

Hengrui Medicine (01276.HK) reported a 22% increase in annual net profit, with the stock opening flat at HKD 63.35. POP MART (09992.HK) saw its stock price drop over 22% after announcing earnings yesterday afternoon, opening down 1.4% in the early market