[Hong Kong Stock Market Close] Hang Seng Index drops 182 points, CNOOC rises over 3% to hit a new high, MINIMAX continues to recover half of its losses, Zhipu drops nearly 9% (updating)

【Hang Seng Index / Hang Seng / HSIC / Hang Seng Index / HSI / Hong Kong Stocks / Night Futures / ADR】Hong Kong stocks fell nearly 200 points. The ongoing Iran conflict continues to trouble the market, with the Hang Seng Index opening down 179 points at 25,719, initially turning higher in early trading but lacking momentum, then reversing downward, dropping as much as 377 points to a low of 25,521. In the afternoon, the decline gradually narrowed, and the Hang Seng Index ultimately closed down 182 points at 25,716, with a turnover of HKD 242.18 billion. The Tech Index fell 0.5% to 5,027 points. Oil prices rebounded, with CNOOC (00883) rising over 3%, PetroChina (00857) up 1%, CATL (03750) up over 1%, Alibaba (09988) and Tencent (00700) down 1%, MINIMAX (00100) continuing to give back half a percent, and Zhipu (02513) dropping nearly 9%.

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Financial Daily:

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Market Trends:

【16:10】The Hang Seng Index finally closed down 182 points at 25,716, with a turnover of HKD 242.18 billion. The Tech Index fell 0.5% to 5,027.
Oil prices rebounded, with CNOOC (00883) up over 3%, PetroChina (00857) up 1%, CATL (03750) up over 1%, Alibaba (09988) and Tencent (00700) down 1%, MINIMAX (00100) continuing to give back half a percent, and Zhipu (02513) dropping nearly 9%.

【16:00】Hang Seng futures initially down 164 points at 25,733, with HKD 230.92 billion in turnover.

【15:52】Yue Yuan (00551) closed down 10%, hitting HKD 16.12. Yue Yuan’s full-year net profit was USD 380 million, down 2.9% year-on-year, with a final dividend of HKD 0.9 per share.

【15:22】【AI+9988】Morgan Stanley: Alibaba has a complete AI industry chain, potentially becoming Google’s successor and replacing Tencent as the top stock tomorrow.

【14:58】Hong Kong stocks fell about 234 points in the late session, closing at 25,664, with HKD 195 billion in turnover. The Tech Index down 0.7% to 5,018.

【14:39】CLP (002) issued its first RMB Panda bond of 1 billion yuan with a 1.85% coupon, oversubscribed 3.35 times.

【14:28】【Alibaba 9988】Cainiao plans to deploy a large-scale overseas robotic warehouse network by 2026.

【14:22】【Iran Crisis】HSBC, Standard Chartered and other banks reportedly temporarily halted transactions in the Persian Gulf; some banks arranged for Dubai staff to work from home.

【14:12】Market’s decline slightly narrowed to within 300 points, at 25,620, down 278 points.

【13:29】MINIMAX (00100) continued to give back half a percent, Zhipu (02513) down nearly 9%. Sun Art (03317) fell over 5%.

【13:14】【Regulatory Action】ICAC and SFC jointly raided 14 locations, arresting 6 men and 2 women. A fund allegedly profited HKD 315 million using insider information. Suspected involvement includes CCB Hong Kong, Guotai Junan International, and Wuji Capital.

【13:01】【Macau Telecom】CITIC International Telecom reported a 1.1% increase in profit last year, with a final dividend of HKD 0.13, yield 7.2%.

【13:00】Hong Kong stocks declined about 339 points in the early afternoon, at 25,559, with HKD 132.3 billion in turnover. The Tech Index down 1.3% to 4,987.

【12:57】6181 major bank report — Old shop gold profit upgrade boosts broker confidence for this year, with price increases improving gross margins. Goldman Sachs and Citigroup raised target prices.

【12:55】【293 Analysis】Cathay Pacific’s half-day stock price fell 2.5%. SocGen suggests valuation re-evaluation; analysts say operating environment remains tough: oil prices are tricky.

【12:48】【Hong Kong Market Analysis】Hang Seng Index down over 300 points; AI lobster concept stocks continue to retreat. Analysts note: “Lobster” active users are rising sharply, and the hype may not be over.

【12:47】【HSBC】Allianz and Manulife consider bidding for HSBC’s Singapore insurance business.

【12:39】004｜Kowloon Warehouse’s net profit last year increased 46.7% to over HKD 4.1 billion. Second interim dividend HKD 0.2. Hong Kong property market regains momentum.

【12:34】【Swire Properties】Swire Properties’ basic recurring profit last year rose 8.6% year-on-year. Swire A paid a second interim dividend of HKD 2.5, Swire B paid HKD 0.5.

【12:24】【Swire Group Results】Swire Properties’ recurring profit last year decreased 3%, with a 5% increase in second interim dividend to HKD 0.8.

【12:00】Hang Seng Index half-day down 319 points at 25,579, with HKD 131 billion in turnover. Oil prices rose, Brent crude above USD 100. CNOOC (00883) surged over 3%, PetroChina (00857) up over 2%, Shandong Moly (00568) up 13%, Alibaba (09988) down 2%, Guotai Junan International (01788) down 5%.

【11:48】CATL (03750) rose another 1% against the trend, hitting a new high of HKD 614.5.

【11:32】Midday close: Hang Seng down about 339 points at 25,559, turnover HKD 122.4 billion, Tech Index down 1.3% at 4,991.

【11:28】【Yuzexangjiang】Yuzexangjiang High-Level Forum on March 23-24, themed “Building Heritage.” Xu Zhengyu: Hong Kong’s “safe haven” advantage highlighted.

【10:45】【Manulife 945】Manulife Hong Kong and Macau: Ji Rongdao appointed Deputy CEO, continues as CFO.

【10:34】Hang Seng down over 200 points, at 25,678, down 220, with HKD 84.9 billion in turnover. PetroChina (00857) up 3%, CNOOC (00883) up over 4%, Shandong Moly (00568) up 13%, breaking HKD 29.46.

【10:33】MTR (00066) to announce earnings today, previously down nearly 3%, low at HKD 34.06.

【10:22】【OpenClaw】Morgan Stanley: Large-scale adoption of OpenClaw products in mainland China faces doubts; three major challenges.

【10:15】OSL Group (00863) opened high but fell nearly 2%, low at HKD 12.72.

【Stablecoins】HKMA’s first stablecoin license: rumored Standard Chartered, HSBC, and OSL shortlisted.

【10:12】Market again drops by 100 points.

【09:54】【US Tariffs】US initiates new trade investigations on 16 partners including China, Japan, Korea, and Europe, paving the way for new tariffs.

【09:46】Hong Kong stocks turned higher after opening, with the Hang Seng up about 10 points, returning to around 25,900.

【09:22】Hang Seng opened 179 points lower at 25,719, with HKD 3.67 billion in turnover. Tech Index down 0.6% at 5,024. Alibaba (09988) down 2%, Guotai Junan (01788) down 4%, oil prices rebounded, PetroChina (00857) and CNOOC (00883) rose over 1%.

【09:09】Hang Seng futures down about 268 points at 25,612.

【08:50】【OpenClaw】Official reiterates “lobster” safety risks; MIIT issues “Six Musts and Six Don’ts” advice.

【08:32】【Gold Price Trend】Gold prices fell for the second day, affected by rising oil prices and bleak rate hike outlook.

【08:08】【IPO】Guanghe Technology (1989) IPO raises up to HKD 3.3 billion, leading PCB manufacturer in mainland China. Entry fee HKD 7,261; A-share valuation levels.

【07:45】【Regulatory Action】CITIC Securities Hong Kong and Guotai Junan International offices raided; Guotai Junan International: highly concerned, employees under investigation suspended from duties. Suspected involvement of ECM head Pan Ju Peng.

【07:45】【Morning Highlights】IEA members agree to release 400 million barrels of emergency oil reserves; CITIC Securities Hong Kong and Guotai Junan International offices raided; Ma Ji Kui Chong begins official sale.

【07:45】Iran conflict continues to trouble the market; night futures close down 64 points at 25,756; China concept stocks down 0.8%, at 7,167; HSBC ADR up 1%.

| ADR | HKD Equivalent | Change from HK Market Close | | Meituan ADR | 76.61 | -1.02% | | Tencent ADR | 556.85 | +0.88% | | HSBC ADR | 134.55 | +1.16% | | Alibaba US Stock | 133.31 | +0.09% |

More Hong Kong stocks ADRs and Chinese concept stock quotes:

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【07:30】U.S. Central Command warns Iran civilians that Iran is using civilian ports along the Strait of Hormuz for military actions, threatening international shipping, and under international law, becoming legitimate military targets. Oil prices rise again; Dow drops up to 520 points. The Dow closes at 47,417, down 289; S&P 500 retraces 0.08% to 6,775; Nasdaq slightly rebounds 0.08% to 22,716.

See US market close for details: