GJALIBA@EC2609C

LEOCH INT'L

METASPACEX

TRANSTECH

EXTREME VISION

RUICHANG INTL

GOLDEN FAITH GP

GOLDENPOWER

ASIAPAC FIN INV

EPI (HOLDINGS)

WEI YUAN HLDG

YINN

KBAB

513040

513770

EBIZ

KWEB

BABX

BABA

09988

CLOU

Citi maintains a "Buy" rating on Alibaba, with a target price of HKD 199. The bank discussed Alibaba's AI and cloud strategy at an event on April 1, believing it has the strongest AI competitive advantage in China's internet sector. Despite fierce competition in food delivery and instant retail, it is expected that related business losses will narrow. Alibaba's management pointed out that comprehensive full-stack capabilities and a strong ecosystem are key differentiators in the AI field, and it is anticipated that revenue from Model as a Service (MaaS) will drive the achievement of a USD 100 billion revenue target over the next five years

AASTOCKS

Direxion FTSE China Bull 3X

KraneShares 2x Long BABA Daily ETF

E Fund CSI HK Connect Internet ETF

Hwabao CSI HK Equities Internet ETF

Global X E-commerce ETF

Krne Csi China Internet

BABA 2x Long Daily ETF - GraniteShares

Alibaba

BABA-W

Global X Cloud Computing ETF

Citigroup maintains a "Buy" rating on Alibaba with a target price of 199 yuan

01810

00175

00700

01211

On April 2, all three major Hong Kong stock indices weakened intraday, with the HSI falling 1.01%, failing to return to the previous trading day's high. Hardware, retail, and internet content sectors declined across the board, led by leading stocks like Xiaomi Group, Alibaba, and Tencent Holdings. Market turnover was active, while YOFC and GEELY AUTO stood out by bucking the trend. Investors are focusing on changes in market volume and macroeconomic recovery guidance

- On April 2, 2026, Hong Kong's three major indices declined, reflecting cautious market sentiment.  
- The Hang Seng Index fell 1.01% to 25,037.41, unable to surpass its previous high, while the tech sector led the losses with Tencent dropping 1.33%.  
- Market participants are closely monitoring upcoming economic data to gauge recovery prospects, amidst a strong US dollar affecting performance.

Market Heartbeat

XIAOMI-W

GEELY AUTO

YOFC

CNOOC

SHANDONG MOLONG

TENCENT

MEITUAN

KNOWLEDGE ATLAS

POP MART

BYD COMPANY

Tencent Holdings Limited

Tencent

Xiaomi Corporation

Hong Kong Stocks Intraday | Three Major Indices Collectively Weaken, Hardware and Retail Slump, XIAOMI-W Drops 3.87%

00857

TCTZF

00HSI

The Hang Seng Index's initial decline has expanded to over 220 points, currently reported at 25,064, down 229 points or 0.9%. Alibaba fell 3% to HKD 119, Tencent dropped 1.2%, and HSBC Holdings fell 1.5% to HKD 128.3. CNOOC rose 0.8%, and PetroChina increased by 1.4%. Airline stocks performed weakly, with China Eastern Airlines down 4.6% and China Southern Airlines down 4.3%

PETROCHINA

CHINA EAST AIR

CHINA SOUTH AIR

HSBC HOLDINGS

SINOPEC CORP

Hang Seng Index

The Hang Seng Index's initial decline has expanded to over 220 points, with Alibaba down 3%

00241

Alibaba Group Holding Ltd. ADR (BABA) fell 1.38% to $123.73 on Wednesday, underperforming the market despite a positive trading session where the NASDAQ rose 1.16%. The stock is currently 35.78% below its 52-week high of $192.67. Competitors like Bed Bath & Beyond, Rakuten Group, and eBay saw gains, while Alibaba's trading volume was below its 50-day average.

- Alibaba Group Holding Ltd. ADR (BABA) fell 1.38% to $123.73 on a generally positive trading day, while the NASDAQ Composite rose 1.16% and the Dow Jones increased by 0.48%.  
- The stock closed 35.78% below its 52-week high of $192.67, reached on October 2nd, and underperformed compared to competitors such as Bed Bath & Beyond and eBay.  
- Trading volume was 10.3 million, falling short of its 50-day average by 1.0 million.

MarketWatch Automated

ALI HEALTH

Alibaba Group Holding Ltd. ADR Falls Wednesday, Underperforms Market

ONLN

9434

- SpaceX, led by Elon Musk, has confidentially filed for an initial public offering (IPO), possibly making it one of the largest in history.  
- If successful, the IPO could surpass $50 billion, exceeding the $25.6 billion record set by Saudi Aramco in 2019.  
- Analysts predict this listing may stimulate the IPO market and encourage other major private startups, such as OpenAI and Anthropic, to pursue public offerings after a prolonged downturn.

Reuters

ProShares Online Retail

Amplify Online Retail ETF

ARK Fintech Innovation ETF

SoftBank Corp.

OpenAI

SPDR S&P Retail ETF

Global X Fintech

FACTBOX-From Saudi Aramco to Alibaba: World's biggest IPOs

DTCR

BABO

Alibaba has launched a new generation image generation model Wan2.7-Image, aimed at breaking through the standard styles of traditional AI images and enhancing the realism of visuals to a professional level. This model allows creators to adjust character details, addresses color instability issues, and supports ultra-long text rendering in up to 12 languages, generating high-quality academic text and complex content. Wan2.7-Image is now available on the Alibaba Cloud AI development platform and Qwen App

- Alibaba (9988) has officially launched its new image generation model, Wan2.7-Image, which significantly enhances the realism of images and elevates overall creation precision to a professional level.  
- The model allows creators to adjust details such as skeletal structure and eye shape, overcoming common issues with previous AI image generation models, such as color instability.  
- Wan2.7-Image supports up to 12 languages and can handle text inputs of up to 3,000 characters, generating high-quality academic text and complex content.

Stheadline

Global X Data Center & Dgtl Infrs ETF

YieldMax BABA Option Income Strategy ETF

Alibaba released the image generation model Wan2.7-Image, claiming to "say goodbye to the AI standard face."

BIDU

09888

588170

- Nvidia retains its lead in the AI accelerator server market with a 55% share, despite a significant drop in market dominance.  
- Chinese firms now capture nearly 41% of the market, driven by increased government support for domestic chipmakers amidst U.S. export restrictions.  
- Huawei leads Chinese vendors, followed by Alibaba’s T-Head and Baidu's Kunlunxin, highlighting the growing influence of local manufacturers in the AI sector.

Baidu

BIDU-SW

ChinaAMC SSE STAR Semiconductor Material & Equipment Thematic ETF

GTJA Allianz SSE STAR Chip Design Thematic ETF

Invesco PHLX Semiconductor ETF

ChinaAMC Guozheng Semiconductor Chip ETF

GTJA Allianz CSI All Share Semiconductors & Semiconductor Equipment ETF

iShares Semiconductor ETF

China Southern CSI Semiconductor Industry Custom ETF

VanEck Semiconductor ETF

SPDR S&P Semicon

Chinese chipmakers claim nearly half of of local market as Nvidia's lead shrinks, IDC says

07200

513130

03033

The total short selling amount in the Hong Kong stock market reached HKD 43.96 billion, accounting for 24.5% of the total shortable stock turnover of HKD 179.34 billion. The previous day's figure was 18.5%. The top five stocks by short selling amount include TRACKER FUND with a short selling ratio of 14.6% and a short selling amount of HKD 2 billion; BYD Company Limited with a short selling ratio of 61.3% and a short selling amount of HKD 1.93 billion; Xiaomi Group-W with a short selling ratio of 55.4% and a short selling amount of HKD 1.9 billion; TENCENT with a short selling ratio of 29% and a short selling amount of HKD 1.8 billion; and Alibaba-W with a short selling ratio of 28.4% and a short selling amount of HKD 1.45 billion

FL2 CSOP HSI

Huatai-PB CSOP Hang Seng Technology ETF(QDII)

CSOP HS TECH

China Merchants CSI HK Technology ETF(QDII)

FI CSOP HSI

China Southern Hang Seng ETF

TRACKER FUND

TRACKER FUND-R

FI2 CSOP HSI

Huatai-PB CSI HK Equities Technology ETF

GF CSI HK Innovative Drugs Industry ETF(QDII)

The total short selling in the Hong Kong stock market for the day was HKD 43.96 billion, accounting for 24.5% of the total turnover of shortable stocks

Hong Kong stocks performed strongly today, with the Hang Seng Index closing up 505 points at 25,294 points, and the China Enterprises Index and Hang Seng TECH Index rising by 130 points and 106 points, respectively. Technology stocks generally rose, with Tencent, Alibaba, and Baidu all performing well. AI stock KNOWLEDGE ATLAS saw its annual net loss widen, but CICC expects significant revenue growth, leading to a 31.9% increase in its stock price. The overall market turnover reached HKD 291.421 billion

Hang Seng China Enterprises Index

DAMAI ENT

Hang Seng TECH Index

"Hong Kong Stocks" The Hang Seng Index closed up 505 points, with AI and pharmaceutical stocks dancing, while airline and metal stocks surged

03088

513180

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.

CAM HS TECH

ChinaAMC Hang Seng Technology ETF(QDII)

GX HS TECH

ISHARESHSTECH

HSTECH ETF

Tianhong Hang Seng TECH ETF(QDII)

Hang Seng TECH ETF I

ZIJIN MINING

ISHARESHSI

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

00288

HKXCY

The Hang Seng Index closed at 25,294 points, up 505 points or 2.0%. The Hang Seng TECH Index reported 4,756 points, up 106 points or 2.3%. The total market turnover was HKD 291.421 billion. Major stocks such as Alibaba and HKEX all saw increases, with Alibaba rising 3.1% and HKEX up 3%. Several individual stocks reached new highs, with active trading

WH GROUP

Hong Kong Exchanges and Clearing (HKEX)

HKEX

Geely Auto

Dacheng Hang Seng Technology ETF(QDII)

According to the Hong Kong Daily News, the Hang Seng Index rose by 505 points; the Hang Seng TECH Index increased by 106 points. Alibaba rose by over 3%, HKEX rose by over 3%, and Geely, WH GROUP, Bank of China, Industrial and Commercial Bank of China, and WeLab B reached new highs with active trading

600660

TCEHY

03606

Morgan Stanley released a report on the Chinese market, selecting 26 Chinese stocks with strong competitive advantages as the "best business models," including Tencent, Alibaba, and FUYAO GLASS, with most investment ratings being "overweight."

FYG;FUYAO GLASS

FUYAO GLASS

Morgan Stanley selects a list of 26 Chinese "best business model" stocks (table)

XIACY

The short selling amount in the Hong Kong stock market reached HKD 21.03 billion in the first half of the day, accounting for 17.1% of the total shortable stock turnover of HKD 122.85 billion. The previous day was 18.5%. The main shorted stocks include Xiaomi Corporation (short selling ratio 41.4%, amount HKD 1.11 billion), BYD COMPANY (short selling ratio 41.5%, amount HKD 1 billion), Tencent (short selling ratio 15.1%, amount HKD 730 million), CSOP HS TECH (short selling ratio 20.8%, amount HKD 690 million), and Alibaba (short selling ratio 18.5%, amount HKD 660 million)

The short selling in the Hong Kong stock market for half a day reached HKD 21.03 billion, accounting for 17.1% of the total turnover of shortable stocks

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BABA-WR

Alibaba HK SDR 5to1

Powell may not have an FOMC talk, but his recent QnA at a University sparks interests and influenced the market. A simple comment that inflation outlook in check and there's no need to hike rates due to oil shock has the market reacting positively. Let's see how the situation pans out in the next few weeks

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Invesco QQQ Trust

SPDR S&P 500

Proshares UltraPro QQQ

FTSE Straits Times Index

Tesla

Direxion Daily TSLA Bull 2X Shares

Apple

iQIYI

Rocket Lab

FOURSEMI

TONGSHIFU

UBTECH ROBOTICS

Miniso

MNSO

Nike

Apple Group

Robinhood

Standard BioTools

SoFi Tech

Rocket

Allianzim US Large Cap Buffer10 Mar ETF

☕️ [Task Coins Giveaway] Daily Market Talk

POP MART HK SDR 20to1

seems like market hasnt bottom, still declining. wheres the end . haha

Fed is in a dilemma. On one hand, he is cautious of rising inflation due to wars &amp; tariff, on the other hand, he is watching unemployment rate in the labor market. Do nothing is the best current strategy for the Fed, till events becomes clearer. Singapore is pivoting to partner other trading blocks to increase trade export to like minded countries. And fast adoption of AI to enhance productivity to address rising cost of doing business here. Is all hands on deck. Singapore has to be ahead of the curve due to fast changing political and economical landscape changes to keep growth on track.

Today’s Key News Recap

0331 | Dolphin Focus: 🐬 Macro/Industry 1) NBS reported Mar Mfg PMI at 50.4%, up 140bps MoM and back in expansion. The non-manufacturing business activity index was 50.1%, up 60bps MoM, marking a second straight month of recovery.Production and new orders both stayed in expansion, while SME sentiment improved notably. This points to a rapid post-CNY rebound in manufacturing.2) Trump told aides he would be willing to halt military ops against Iran even if the Strait of Hormuz is not fully reopened. He would prioritize the goal of 'degrading Iran's naval and missile capabilities'...

GJALIBA@EC2609C(27279.HK)

GJALIBA@EC2609C Stock Performance Chart

Citigroup maintains a "Buy" rating on Alibaba with a target price of 199 yuan

Hong Kong Stocks Intraday | Three Major Indices Collectively Weaken, Hardware and Retail Slump, XIAOMI-W Drops 3.87%

The Hang Seng Index's initial decline has expanded to over 220 points, with Alibaba down 3%

Alibaba Group Holding Ltd. ADR Falls Wednesday, Underperforms Market

FACTBOX-From Saudi Aramco to Alibaba: World's biggest IPOs