HSMTUAN@EC2612A

CREATIVE CHINA

TIAN TU CAPITAL

BASIC H NEWLIFE

GW TERROIR

DEEWIN

BANK OF GANSU

MIRXES-B

C&D NEWIN

CHALIECO

DAISHOMICROLINE

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Non-ferrous aluminum stocks surged at the open, with Minfa Aluminium, YeChiu Resources, ALCHA, and TIANSHAN ALUMINUM hitting the daily limit. Yunnan Aluminium, NANSHAN ALUMINIUM, LIYUAN, and Huafon Aluminium rose over 5%. The coal sector strengthened in morning trading, with ZCE hitting the daily limit, Shaanxi Heimao approaching the daily limit, and YNCE, GANSU EC, DYEC, and ANTAI GROUP all rising

- Asian Pacific stock markets experienced significant declines on March 30, following a drop in U.S. stocks and escalating geopolitical tensions involving Iran and Houthi forces.  
- Chinese A-shares and Hong Kong stocks also fell, with key indices like the Shanghai Composite and Hang Seng Index reporting losses of 0.49% and 1.31% respectively.  
- Despite the overall downtrend, sectors such as oil, gas, and coal saw gains, with Brent crude oil prices exceeding $115 per barrel.

Wallstreetcn

TIANSHAN ALUMINUM

Huafon Aluminium

DYEC

Shaanxi Heimao

Minfa Aluminium

GANSU EC

ANTAI GROUP

YeChiu Resources

ALCHA

YNCE

LIYUAN

NANSHAN ALUMINIUM

Yunnan Aluminium

MEITUAN

A and H Shares Open Sharply Lower: ChiNext Down Over 1%, Photovoltaics and Power Stocks Fall Together, Oil and Gas Rise Against Trend, Hang Seng Tech Index Down Nearly 3%, Tech Stocks Broadly Decline

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On March 30, major indices in the Hong Kong stock market pulled back simultaneously, with market risk aversion sentiment rising, leading the internet and retail sectors to fall. Tencent Holdings, Alibaba, and other heavyweights faced significant pressure, with funds rotating to resource stocks, and WANGUO GOLD GP and CHIFENG GOLD showing active trading. Macroeconomically, although there were signs of recovery, the momentum was insufficient, leading to strong short-term wait-and-see sentiment among investors, while YOFC saw a significant surge

- On March 30, Hong Kong stocks showed a collective decline, with the Hang Seng Index at 24,800.69, down by 0.61%, failing to reach previous highs from March 27.  
- Key sectors like internet content and retail experienced declines, reflecting cautious market sentiment, while only a few stocks such as Changfei Optical Fiber bucked the trend with notable gains.  
- Overall, the market's weak momentum indicates ongoing concerns about external factors, and participants are closely watching policy effects and currency fluctuations.

Market Heartbeat

WANGUO GOLD GP

CHIFENG GOLD

Hang Seng Index

YOFC

TENCENT

POP MART

JIAXIN INTL RES

REMEGEN

CHINA SHENHUA

BYD COMPANY

CNOOC

XIAOMI-W

SMIC

Hang Seng Index Falls 0.87% Intraday, YOFC Surges 13% Against Trend

MPNGY

Nomura has lowered the target price for Meituan to 92 yuan, maintaining a neutral rating. It is expected that the losses in the takeaway business will narrow by more than 40% in the first quarter of 2026, with the loss per order reducing to 1.3 yuan. Although Chinese authorities oppose internal competition, actual measures remain to be seen, and Alibaba's subsidy budget will continue to affect Meituan's competitive landscape and recovery pace

AASTOCKS

Meituan

Nomura lowers Meituan's target price to 92 yuan, competitive landscape remains unclear

Futu released a research report stating that Meituan's total revenue in the fourth quarter of last year increased by 4.1% year-on-year to RMB 92.1 billion, in line with expectations. Core local business revenue decreased by 1% year-on-year to RMB 64.8 billion, slightly below market expectations. New business revenue increased by 18.9% year-on-year to RMB 27.3 billion, exceeding expectations. Futu believes that the fundamentals of Meituan's core local business have improved, maintaining a "Buy" rating with a target price of HKD 130

Credit Suisse: MEITUAN's core local business fundamentals have improved, rating "Buy"

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As of midday March 30, 2026, the three major Hong Kong stock market indices were collectively under pressure, with the Hang Seng Index falling 0.93% and the Hang Seng Tech Index down 1.70%. The Internet Content and Information sector and the Retailers sector generally weakened, led by blue-chip stocks such as Tencent Holdings and Alibaba. Despite rising market caution, POP MART rose against the trend by 2.01%, and resource-related stocks like C&C International Resources and Chalco Shandong performed strongly. Overall trading volume was concentrated in blue-chip stocks, and further attention needs to be paid to whether the trading volume can support a test of previous highs

- As of March 30, 2026, Hong Kong's three major stock indices are facing pressure, with the Hang Seng Index down 0.93% to 24,719.2 points.  
- Market sentiment is cautious, particularly in the internet content and retail sectors, with significant declines for major companies like Tencent and Alibaba.  
- Resource stocks have attracted investor interest, showing resilience amidst a broader market downturn, as seen in the performance of stocks like Jiexin International Resources and Pop Mart.

INSILICO

SINOPEC CORP

Tencent Holdings Limited

Hang Seng TECH Index

KraneShares 2x Long BABA Daily ETF

Hong Kong Stocks Midday Review: Hang Seng Index Down 0.93%, Tech Stocks Weak; POP MART Rises Against Trend by 2.01%

Haitong International raised Meituan's target price from RMB 84 to RMB 115 and upgraded its rating from "Neutral" to "Outperform." Although Meituan's performance in the fourth quarter of last year met expectations, the company is expected to increase its investment in the field of artificial intelligence, which may put pressure on its profitability, leading to a more than 30% reduction in the net profit forecast for 2027 to 2028

Haitong International raised the target price for Meituan to 115 yuan and upgraded the rating to "Outperform the Market."

BABA

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On March 30, intraday sentiment in the Hong Kong stock market was weak, with the three major indices collectively pulling back. The Hang Seng TECH Index fell by 2.90%. The internet, retail, and jewelry sectors led the market decline, with Tencent Holdings and Alibaba both dropping over 3%, and MEITU plunging over 8%. Despite the market pressure, CHALIECO rose nearly 20% against the trend. Market turnover was concentrated in technology heavyweight stocks, reflecting that funds remained active in trading amidst the adjustment

- As of March 30, Hong Kong stocks faced pressure, with major indices retreating amidst weak market sentiment.  
- The Hang Seng Index fell by 1.92% to 24,473.42, while the Hang Seng Tech Index dropped 2.90%, indicating a lack of upward momentum.  
- Investors are closely monitoring export and retail data, with macroeconomic pressures impacting market revaluation based on economic recovery pace and policy signals.

Alibaba

KUAISHOU-W

MNSO

CTG DUTY-FREE

CHOW TAI FOOK

CALB

JD-SW

AKESO

CSOP HS TECH

MEITU

Hong Kong Stocks Intraday | Hong Kong Stocks Slide Intraday; Tech Index Drops 2.90%, CHALIECO Rises Against the Trend

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MEITU's CEO Wu Xinhong stated at the earnings release conference that the market's concern about AI large models replacing all applications is a misunderstanding, emphasizing that no large model vendor can meet all needs. MEITU focuses on deeply exploring vertical scenarios and believes that the future is an innovation marathon, with models and applications each having their ecological niche. MEITU's products have advantages in efficiency and understanding of vertical scenarios, and the AI Agent has been embedded in most products to assist in converting user needs. Meituan's CFO Yan Jinliang announced that they will quarterly update core business metrics to enhance transparency

MEITU: The belief that large models will replace all applications is a market misunderstanding

In a report released yesterday, from CSC Financial maintained a Buy rating on Meituan, with a price target of HK$113.37.Claim 30% Off TipRanks PremiumUnlock hedge fund-level data and powerful investing tools for smarter, sharper decisions Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential In addition to CSC Financial, Meituan also received a Buy from Citi’s Alicia Yap in a report issued on March 27. However, on the same day, Barclays maintained a Sell rating on Meituan (Other OTC: MPNGF).

- CSC Financial issued a report maintaining a Buy rating on Meituan, setting a price target of HK$113.37.  
- Additionally, Citi's Alicia Yap also gave Meituan a Buy rating in a report released on March 27.  
- In contrast, Barclays retained a Sell rating on Meituan on the same day.

Tip Ranks

CSC Financial Remains a Buy on Meituan (MPNGF)

Morgan Stanley has reaffirmed its Buy rating on Meituan (MPNGF), setting a price target of HK$120.00, while the stock closed at HK$86.70. The analyst consensus for Meituan is a Strong Buy, with an average price target of HK$119.34, indicating a potential upside of 37.65%. Additionally, Citi has also maintained a Buy rating with a price target of HK$110.00.

- Morgan Stanley reported a Buy rating on Meituan with a price target of HK$120.00, while shares closed at HK$86.70.  
- The analyst consensus is a Strong Buy for Meituan, with an average price target of HK$119.34, indicating a potential 37.65% upside.  
- Additionally, Citi also maintained a Buy rating, setting a price target of HK$110.00.

Morgan Stanley Keeps Their Buy Rating on Meituan (MPNGF)

COST

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0327 | Dolphin Research Focus: 🐬 Macro/Industry. Trump said on Thu, Mar 26 on social media that, at Iran's request, planned strikes on Iran's energy facilities would be pushed back 10 days to 8pm ET on Apr 6.He had earlier moved the 48-hour ultimatum issued on Mar 21 out by five days to Mar 27. Iran denied making a direct request, saying there had only been indirect information exchanges, per today's headlines.Given the current setup, a substantive agreement before Apr 6 looks unlikely. Even after the extension, military escalation could still resume, and the geopolitical risk premium has not fully cleared...

U Surges on Strong Results; META Doubles Down on AI Race | Daily News Recap

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On March 27th, Hong Kong stocks closed with all three major indices rising collectively, with the Hang Seng Index up 0.38% and the National Enterprises Index up 0.76%, showing better performance. The market continued its rebound trend but remained under pressure from previous high resistance levels. In terms of sectors, internet giants showed weak performance, while individual stocks in the catering, gold, and pharmaceutical sectors were active, with Baset Pharmaceutical-B soaring over 20%. Weak macroeconomic data kept market sentiment cautious, and risk appetite was somewhat limited

CSTONE PHARMA-B

LINGBAO GOLD

MENGNIU DAIRY

ZIJIN GOLD INTL

SINO BIOPHARM

Hong Kong stock market closing | Hang Seng Index rose 0.38% but failed to break the high, BYD surged 3.7%

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The Hang Seng Index closed at 24,951 points, up 95 points or 0.4%. The Hang Seng Tech Index reported 4,778 points, up 16 points or 0.3%. The total market turnover was HKD 263.081 billion. Among the actively traded heavyweights, Ping An rose by 2%, Xiaomi rose by 1.7%, and Meituan fell by 0.9%. CSPC Pharma rose over 13%, XUNCE hit a new high, and trading was active

XUNCE

HUISHANG BANK

Ganfeng Lithium

CSPC PHARMA

According to the "All-Day Express," the Hang Seng Index closed at 24,951 points, up 95 points; the Hang Seng Tech Index closed at 4,778 points, up 16 points. CSPC Pharma rose over 13%, XUNCE, Ganfeng Lithium, Weisheng Holdings, Qingsong Health, and HUISHANG BANK reached new highs with active trading

CICC maintains Meituan's rating as "outperforming the industry," expecting this year's losses to narrow to 8.5 billion yuan, an improvement from the previous forecast of 9.7 billion yuan. In the fourth quarter of last year, Meituan's revenue increased by 4% year-on-year to 92.1 billion yuan, with an adjusted net loss of 15.1 billion yuan. Considering the easing competition and the company's operational efficiency, CICC has lowered its 2027 profit forecast by 8.2% to 27.5 billion yuan, setting a target price of HKD 125, corresponding to an adjusted price-to-earnings ratio of 24.6 times

In "Major Banks," China International Capital Corporation maintains a "Outperform" rating for Meituan, expecting competition to ease and losses to narrow this year

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On March 27th, during the Hong Kong stock market, the three major indices collectively strengthened, with the Hang Seng China Enterprises Index leading with a rise of 1.14%. The catering and retail sectors performed impressively due to a rebound in consumption, with leading stocks such as Ganfeng Lithium and BYD significantly surging. Although the market is under pressure from previous highs, new economy leaders are actively traded, and investors are closely watching the upcoming macroeconomic indicators and the impact of exchange rate fluctuations

- As of March 27, Hong Kong's stock indices rose collectively, with the Hang Seng Index at 25,029.27, up 0.70%.  
- The restaurant sector experienced overall gains driven by a recovery in consumer spending, particularly with Haidilao rising 6.11%.  
- Key economic indicators such as exports and retail sales are under close observation to assess recovery strength, impacted by external factors and local policy adjustments.

GANFENGLITHIUM

HAIDILAO

Hong Kong stocks intraday | Three major indices rose collectively, Ganfeng Lithium up 8.31%, the catering retail sector strong

The boat for long term investing of S-REITs have came back to port again. Buying at this level has little downside and would offer a larger margin of safety when mean reversion occurs.

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MEITUAN-WR

BYD ELECTRONIC

PETROCHINA

Meta Platforms

Apple

Tesla

Direxion Daily TSLA Bull 2X Shares

Alphabet - C

Alphabet

Shangri-La HKD

Keppel

GuocoLand

Aoxin Q & M

Lendlease Reit

Apple Group

Meituan HK SDR 5to1

☕️ Daily Market Talk | Mar 27, 2026

SMIC HK SDR 5to1

PetroCN HK SDR 1to2

SHANGRI-LA ASIA

DBS Group

Today’s Key News Recap

Costco Wholesale

Unity Software

ByteDance

MetLife

METLIFE INC PRF SERIE 'A' FLOATING RATE USD25

METLIFE INC 5.625% NON CUM PRD STK SER E

METLIFE INC 4.75% DEP SHS EA REP NN CUM PFD ST SER F

Netflix

CHINA MOBILE

CHINA MOBILE-R

CN Mobile HK SDR 5to1

China Mobile

Midea Group

MIDEA GROUP

GUMING

S-Reit can drop further if the Iran war does not settle. Long War, higher oil prices, higher inflation, RATE HIKE!!! Real Estate will suffer!

S reits are being punished for nothing. It is face equity like volatility and drawdown even though real estate is stable. Interest rate did not even move. I would say buy the dip!

Meituan is facing very strong competition, it is hard to the company to keep burning cash. I would stay wary of this.

The longer Trump or Iran delays any resolution, the longer the impact of the war will creep through the economy. Even with a ceasefire, it may be too late. 10 days is too long...

Under the food delivery war that Meituan has been engaged in since Q2, the biggest impact has been on local commerce. Full-year sales and marketing expenses increased by over 80% year-on-year, with subsidies basically consuming all gross profit. Combined with losses from other business lines, the effects are piling up.In the long term, AI may not necessarily help this labor-intensive company. In the short term, we can probably only hope for the food delivery war to stop quickly.

Another delay tactic or real peace talks? I believe the key is with the bond market. A big chunk of US debt is due this year and that needs to be refinanced. And that debt which was attained at record low rates will have to be priced at current rates. And those rates are going up and forcing the president’s hands. Similar to how he had to TACO last year April for similar reasons (obviously not stated on mainstream media), seems like the same this time. A middle ground needs to be reached ASAP and that is being reflected in the decisions made. If a peace accord is agreed, that will be the narrative the media will say lead to a market rally. However, when you look at technicals, there are complete 5 waves patterns all round and a bounce is already imminent! Stay safe!

dip or falling knife? hope taco more so market uturn back to green soon

Bond yields have increased due to rising inflation expectations, among other factors. Oil prices may remain elevated. Interest rates may stay higher for longer with fewer rate cuts. IMO can wait a while before buying S-REITs .

HSMTUAN@EC2612A(27070.HK)

HSMTUAN@EC2612A Stock Performance Chart

A and H Shares Open Sharply Lower: ChiNext Down Over 1%, Photovoltaics and Power Stocks Fall Together, Oil and Gas Rise Against Trend, Hang Seng Tech Index Down Nearly 3%, Tech Stocks Broadly Decline

Hang Seng Index Falls 0.87% Intraday, YOFC Surges 13% Against Trend

Nomura lowers Meituan's target price to 92 yuan, competitive landscape remains unclear

Credit Suisse: MEITUAN's core local business fundamentals have improved, rating "Buy"

Hong Kong Stocks Midday Review: Hang Seng Index Down 0.93%, Tech Stocks Weak; POP MART Rises Against Trend by 2.01%