UBMTUAN@EP2612B

PUXING ENERGY

STARCOIN GROUP

KNOWLEDGE ATLAS

EASY SMART GP

WORLD SUPER

XL2CSOPSMSN-U

PPS INT'L

LAP KEI ENGRG

CHINA FORTUNE

XL2CSOPSMSN

03088

03033

513180

00700

09988

00883

09992

03690

06869

On April 1st, Hong Kong stocks rose across the board, with the Hang Seng Index closing up 2.04% at 25,294.03 points, and the Tech Index rising 2.29%. The internet and retail sectors led the gains, with Tencent and Alibaba making significant contributions, while popular stock KNOWLEDGE ATLAS surged over 31%. The market was buoyed by positive macro data and AI innovation, with active trading, but high-level pressure still needs attention

- On April 1, Hong Kong's three major stock indices rose as risk appetite improved, with the Hang Seng Index closing at 25,294.03, up 2.04%.  
- The technology and internet sectors performed well, benefiting from AI advancements, while the oil and gas sector faced losses due to falling international oil prices.  
- Market focus remains on economic data and potential policy shifts, influencing stock performance and investor sentiment.

Market Heartbeat

CAM HS TECH

CSOP HS TECH

ChinaAMC Hang Seng Technology ETF(QDII)

GX HS TECH

Hang Seng TECH Index

BABA 2x Long Daily ETF - GraniteShares

ISHARESHSTECH

HSTECH ETF

Tianhong Hang Seng TECH ETF(QDII)

Hang Seng TECH ETF I

TENCENT

BABA-W

CNOOC

ZIJIN MINING

POP MART

XIAOMI-W

MEITUAN

BYD COMPANY

YOFC

Hang Seng Index

China Southern Hang Seng ETF

Tencent Holdings Limited

ISHARESHSI

Tencent

Alibaba

Huatai-PB CSOP Hang Seng Technology ETF(QDII)

Hong Kong stocks close | Hang Seng Index rises 2.04%, KNOWLEDGE ATLAS surges 31.94% to lead

513130

01070

EBIZ

On April 1, the Hong Kong stock market saw a collective rise in major indices during intraday trading, with the Hang Seng Index up 2.39% and the Hang Seng Tech Index up 2.64%. The internet content and retail sectors performed strongly, with leading stocks such as Tencent Holdings and Alibaba-W significantly boosting market sentiment. The oil and gas sector, influenced by international oil prices, saw a contrarian pullback. Individual stocks like TCL ELECTRONICS and HANSOH PHARMA were active with robust trading volumes, while the market is closely watching macroeconomic data and changes in consumer confidence

- At midday on April 1, Hong Kong stocks rose, with the Hang Seng Index up 2.39% to 25,379.55 points, though it remains below recent highs.  
- The market observed significant movements in innovative sectors, with notable gains from companies such as Zhiyuan and TCL Electronics, while the energy sector faced pressure, highlighted by a drop in CNOOC shares.  
- Investor focus is shifting towards macroeconomic indicators like manufacturing PMI and unemployment rates amidst ongoing fluctuations in exports and trade.

TCL ELECTRONICS

Global X E-commerce ETF

VanEck Retail ETF

KraneShares 2x Long BABA Daily ETF

CI-LEAP@EC2612A

LEAPMOTOR

WUXI APPTEC

SUN HUNG KAI CO

HANSOH PHARMA

E Fund CSI HK Connect Internet ETF

SPDR S&P Retail ETF

Hong Kong Stocks Intraday | Hang Seng Index Rises 2.39%, Internet Retail Strong

MPNGY

Citic Securities has maintained a Buy rating on Meituan (MPNGF) as of March 30, setting a price target of HK$115.00. The stock closed at HK$84.20, indicating a potential upside of 35.77% based on the analyst consensus of a Strong Buy with an average target of HK$114.32. Additionally, DBS also reaffirmed a Buy rating with a price target of HK$119.00.

- Citic Securities analyst maintained a Buy rating on Meituan with a price target of HK$115.00.  
- The company’s shares closed at HK$84.20, and the analyst consensus suggests a Strong Buy with an average price target of HK$114.32, indicating a potential upside of 35.77%.  
- DBS also affirmed a Buy rating for Meituan, setting a price target of HK$119.00.

Tip Ranks

Meituan

Citic Securities Keeps Their Buy Rating on Meituan (MPNGF)

As of noon, the three major Hong Kong stock market indices collectively declined significantly, with the Hang Seng Tech Index leading the drop by nearly 1%, reflecting cautious market sentiment and low risk appetite. On the sector front, heavyweight stocks suffered heavy losses, with internet services and fiber optic cable sectors performing poorly. Tencent Holdings experienced volatility, dropping over 0.08%, influenced by reduced buyback activity and substantial short selling. Industry leaders such as Alibaba, YOFC, and BYD Electronic also saw significant pullbacks. Amid pressure on mainstream sectors, market funds exhibited distinct structural arbitrage, shifting towards small-cap themes and emerging economy stocks, with CMON, CH RENEW EN INV, and J&T EXPRESS-W rising sharply against the trend. At the macroeconomic level, investors are closely watching the long-term impact of trade data on industry differentiation. Overall, the current Hong Kong stock market is characterized by intense competition within existing capital pools, displaying a clear pattern of "pressure on leaders, activity in themes."

- As of midday, Hong Kong's three major indices saw significant declines, indicating pressured market sentiment.  
- The Hang Seng Index closed at 24,624.55, down 0.51%, while the Hang Seng Tech Index and the State-owned Enterprises Index fell 0.94% and 0.84% respectively, reflecting overall weaknesses in the market.  
- Investor attention is heavily focused on macro data affecting trade and capital movement, leading to a generally cautious outlook amidst noticeable sector rotation.

LB Select

BYD ELECTRONIC

CMON

SYNAGISTICS

CH RENEW EN INV

J&T EXPRESS-W

ZIJIN GOLD INTL

Hong Kong Stocks Midday Review | Hang Seng Index Drops 0.51% Below 25,000 Points, Tech and Fiber Optic Cable Sectors Plunge, CMON Surges Intraday

00467

Today, Hong Kong's three major indices collectively trended lower, with market sentiment significantly pressured by the external environment and policy changes; the Hang Seng TECH Index retreated by nearly 0.5%. On the market front, the oil and gas sector fell across the board due to international oil price fluctuations, with CNOOC and UNITEDENERGY GP leading the declines. Internet giants diverged; while TENCENT rose slightly, its intraday short-selling turnover exceeded HK$3 billion, indicating intense long-short contention. Meanwhile, the market showed clear structural opportunities, with retailers and the AI sector performing actively. JST GROUP, COWELL, and other stocks surged significantly, while Asymchem jumped 12% against the trend, bolstered by strong earnings and dividend plans. Overall, competition among existing funds within the market intensified, and investor caution remained high, with capital flows tilting toward high-performance stocks and those supported by buybacks

- Hong Kong's major indices experienced significant adjustments, with the Hang Seng Index at 24,719.62, down 0.13%.  
- The oil and gas sector faced notable declines, influenced by international oil price fluctuations, while retail stocks showed volatility with significant gains for some companies.  
- Market sentiment remains cautious amid concerns over liquidity and external economic conditions, suggesting differentiated risk preferences and structural opportunities.

UNITEDENERGY GP

KUAISHOU-W

SENSETIME-W

BIDU-SWR

PHANCY

HORIZONROBOT-W

JST GROUP

COWELL

Asymchem

Hong Kong Stocks Intraday | Hong Kong's Three Major Indices Fall Across the Board: TENCENT Edges Up Against the Trend Amid Divergence, Oil and Gas Sector Plunges to Lead the Decline

Nomura analyst maintained a Hold rating on Meituan on March 29 and set a price target of HK$92.00.End of Quarter Sale - 50% Off TipRanksUnlock hedge fund-level data and powerful investing tools for smarter, sharper decisions Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks The word on The Street in general, suggests a Strong Buy analyst consensus rating for Meituan with a HK$114.91 average price target.

- Nomura analyst maintained a Hold rating on Meituan, setting a price target of HK$92.00 on March 29.  
- The overall market sentiment shows a Strong Buy analyst consensus rating for Meituan, with an average price target of HK$114.91.  
- The ratings and targets reflect differing opinions on the company's stock performance potential.

Nomura Remains a Hold on Meituan (MPNGF)

002532

601702

600403

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

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

03939

06693

00HSI

03858

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.

WANGUO GOLD GP

CHIFENG GOLD

JIAXIN INTL RES

REMEGEN

CHINA SHENHUA

SMIC

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

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

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"

03696

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

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

02068

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.

CHALIECO

MNSO

CTG DUTY-FREE

CHOW TAI FOOK

CALB

JD-SW

AKESO

MEITU

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

01357

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.

CSC Financial Remains a Buy on Meituan (MPNGF)

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

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

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...

UBMTUAN@EP2612B(27240.HK)

UBMTUAN@EP2612B Stock Performance Chart

Hong Kong stocks close | Hang Seng Index rises 2.04%, KNOWLEDGE ATLAS surges 31.94% to lead

Hong Kong Stocks Intraday | Hang Seng Index Rises 2.39%, Internet Retail Strong

Citic Securities Keeps Their Buy Rating on Meituan (MPNGF)

Hong Kong Stocks Midday Review | Hang Seng Index Drops 0.51% Below 25,000 Points, Tech and Fiber Optic Cable Sectors Plunge, CMON Surges Intraday

Hong Kong Stocks Intraday | Hong Kong's Three Major Indices Fall Across the Board: TENCENT Edges Up Against the Trend Amid Divergence, Oil and Gas Sector Plunges to Lead the Decline