[Hang Seng Index Night Futures + Northbound Funds] Northbound funds withdrew 2.9 billion on Friday, buying Pop Mart, Meituan, large-scale short selling of the Wu Yifund, Alibaba, Xiaomi. Hang Seng Index night futures fell 139 points (updating continuously).

【Hang Seng Index/HSI/Hang Seng Index/H-shares/港股/夜期/ADR】On Friday, Northbound capital recorded a net outflow of 2.88 billion yuan, with the main focus on buying Pop Mart (09992) and Meituan (03690), which attracted 460 million and 340 million yuan, respectively. Changfei Fiber (06869) attracted 230 million yuan; in terms of net outflows, the Tracker Fund (02800) saw a capital outflow of 3.56 billion yuan, Alibaba (09988) and Xiaomi (01810) recorded outflows of 660 million and 650 million yuan, respectively.

The Hang Seng Index night futures fell 139 points to close at 24,712 points.

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The Hang Seng Index rose 95 points but did not stabilize at 25,000. BYD surged 3% ahead of its results, while Meituan fluctuated and fell 0.9%. Pop Mart continued to decline.

The Hong Kong stock market rebounded by nearly 100 points but did not stabilize at 25,000. The Hang Seng Index opened down 87 points at 24,768 points, then reversed direction and rose, reaching a high of 25095 points in the afternoon with a maximum increase of 239 points. The Hang Seng Index closed up 95 points at 24,951 points, still below 25,000, with a trading volume of 263.08 billion yuan. The tech index rose by 0.3% to 4,778 points. BYD (01211) rose over 3% ahead of its results, while the ATM sector was weak, with Meituan (03690) fluctuating and falling 0.9% after its results. Pop Mart (09992) fell another 0.7%.

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US stock dynamics are continuously updated, for details see: Next page

Financial Diary:

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Real-time Trends:

【18:50】Northbound capital recorded a net outflow of 2.9 billion yuan on Friday, buying Pop Mart and Meituan, while large sell-offs occurred for Tracker Fund, Alibaba, and Xiaomi. The Hang Seng Index night futures fell 139 points.

【16:10】The Hang Seng Index fluctuated and rose 95 points, closing at 24,951 points, still below 25,000, with a trading volume of 263.08 billion yuan. The tech index rose by 0.3% to 4,778 points. BYD (01211) rose over 3% ahead of its results, while the ATM sector was weak, with Meituan (03690) fluctuating and falling 0.9% after its results. Pop Mart (09992) fell another 0.7%.

【16:10】【Real Estate Results】Longfor recorded a core loss of 1.7 billion yuan last year, no dividend declared, with short-term debt of 15.8 billion yuan maturing within a year.

【16:00】The Hang Seng Index rose 103 points ahead of the U.S. trading session, closing at 24,959 points, with a trading volume of 253.53 billion yuan.

【16:00】【173 Results】K. Wah recorded a core loss of 1.29 billion yuan last year, with the final dividend cut by 80% to 1 cent, expecting Hong Kong residential property prices to rise at least 5% this year.

【16:00】【981】SMIC’s stock price fell by 1%, with reports indicating that U.S. officials claimed SMIC provided chip manufacturing equipment to the Iranian military.

【15:43】SMIC (00981) fell over 1%, while Hua Hong Semiconductor (01347) fell by 0.1%.

【15:40】Longfor (00960) fell 4% after results, hitting a low of 7.52 yuan. Longfor’s net profit last year was 1.02 billion yuan, down 90.2% year-on-year, and no final dividend was declared.

【15:18】Meituan (03690) softened towards the market close, turning to a decline of 0.3%.

【14:00】The Hang Seng Index’s upward momentum receded, with the latest increase narrowing to about 145 points, struggling at the 25,000 mark, having reached a high of 25,095 points in the afternoon.

【13:14】The market’s increase expanded to 209 points, closing at 25,065 points.

【13:13】Li Auto (09863) rose nearly 7%, hitting a high of 49.76 yuan.

【13:01】The Hong Kong stock market rose about 166 points in the early afternoon, closing at 25,023 points, surpassing 25,000 again, with a trading volume of 139.7 billion yuan. The tech index rose by 1.1% to 4,814 points.

【12:54】【Insurance Stock Analysis】Ping An rose 0.7% after results, while China Life recovered after a sharp drop the previous day. Analysis: Investment losses affected performance, which insurance stock is better?

【12:46】【267 Results】CITIC Limited earned 0.9% more for the year, with a final dividend increase of 6.9% to 0.385 yuan.

【12:23】【Mobile Gaming Stocks 2400 Results】Xindong Company saw a profit growth of 89% to 1.54 billion yuan last year, canceled dividends, and gaming business revenue increased by 10.5%.

【12:23】【Pharmaceutical Stock Results】Sihuan Pharmaceutical’s net profit fell 56% last year, with the final dividend cut by 68% to 3 cents.

【12:00】The Hang Seng Index rebounded 137 points in the first half, closing at 24,993 points, just shy of 25,000, with a trading volume of 135.78 billion yuan. Meituan (03690) rose over 1% after results, while BYD (01211) rose over 4% ahead of results. Pop Mart (09992) repurchased nearly 600 million yuan, with the stock price rebounding by 0.9%.

【11:57】【883 Analysis】CNOOC fell over 1% after its earnings report, with Citigroup raising the target price. Analysis: “Its biggest advantage is its low extraction costs,” current oil prices at $100 ensure decent profits.

【11:52】【Resource Stock Results】Nanshan Aluminum International earned 1% more last year, with alumina prices continuing to drop, putting pressure on the business in the first half.

【11:40】The market’s increase expanded to 100 points, hitting a high of 24,975 points, testing to recover the 25,000 mark.

【11:23】Before the lunch break, the Hong Kong stock market saw the Hang Seng Index rise about 43 points, touching 24,900 points.

【11:17】【3690 Analysis】Meituan rose about 2% after its results, with Citigroup upgrading the rating and target price. Analysis: Current levels are “very cheap,” but business performance in the next two to three quarters is expected to be “not particularly good.”

【10:58】BYD (01211) rose over 4%, hitting a high of 107.7 yuan.

【10:47】Meituan (03690) turned up 3%, hitting a high of 90.7 yuan, driving the market up by about 80 points, closing at 24,935 points, with a trading volume of 98.9 billion yuan. The tech index rose by 0.9% to 4,805 points.

【10:42】【9992】Pop Mart’s stock price previously rebounded by 4% but fell due to nearly 600 million yuan in repurchases. After the results were announced, the stock price has dropped by 30% over two days.

【10:24】MINIMAX (00100) fell by 6%, hitting a low of 920 yuan, while Zhiyu (02513) fell by half a percent, hitting a low of 641.5 yuan.

【10:15】BYD (01211), which is set to announce results today, saw its stock price rise over 3% ahead of results, hitting a high of 107.5 yuan.

【10:12】Innovent Biologics (01801) rose nearly 7% after results, hitting a high of 85.55 yuan.

【1801 Results】Innovent Biologics achieved profitability for the first time last year, making 814 million yuan, and will not declare a final dividend.

【10:09】Zijin Mining (02899) rose by 0.4%, Zijin Gold International (02259) rose by over 2%, while Zhaojin (01818) and Shandong Gold (01787) rose by over 1%, and Lingbao Gold (03330) rose by nearly 3%.

【Gold Price Trends】Gold prices recovered some ground as Trump delayed the deadline for reaching an agreement with Iran. The Turkish central bank’s sale of over $8 billion in gold intensified downward pressure on gold prices.

【10:09】Xiaoma Zhixing (02026) fell over 13% after results, hitting a low of 73.2 yuan.

【2026 Results】Xiaoma Zhixing reported an adjusted loss of $174 million last year, expanding nearly 32% year-on-year, with a goal to expand its unmanned taxi fleet to 3,000 units by the end of this year.

【09:53】After the Hong Kong stock market opened, it briefly turned up, but the rebound was insufficient, and it fell again by over 100 points, closing at 24,725 points, down 130 points, with a trading volume of 50.9 billion yuan. The tech index fell by 0.7% to 4,727 points.

【09:22】The Hang Seng Index continued to open down 87 points, opening at 24,768 points, with a trading volume of 3.35 billion yuan. The tech index fell by 0.4% to 4,740 points. After its results, Meituan (03690) fell by 0.6%, AIA (01299) fell by over 3%, while Pop Mart (09992) saw its stock price stabilize, rebounding over 1%.

【3690 Results】Meituan reported an adjusted loss of 15.08 billion yuan for the fourth quarter, missing expectations. Wang Xing stated: “The loss per order improved quarter-on-quarter for the first quarter,” and emphasized that the “AI super entrance” will not become a “Token factory” (Version 2).

【09:03】The Hang Seng Index fell about 94 points, closing at 24,723 points.

【07:50】【New IPO】Tongrentang Medical (2667) postponed its sale and listing plans, considering multiple factors, including current market conditions, and will return application funds.

【07:45】【Morning Highlights】Meituan reported an adjusted loss of 15.08 billion yuan in the fourth quarter, missing expectations. | Hong Kong ranked third in the Global Financial Center Index and first in the Asia-Pacific region. | Cathay Pacific increased the fuel surcharge again.

【07:45】From Trump’s remarks, there have been developments in the Iranian situation. The night futures fell 8 points, closing at 24,782 points. The China concept stock index fell by 2.6%, closing at 6,721 points. Meituan’s ADR stock price had risen 3.8% compared to Hong Kong but was affected by macro conditions, closing down 1.6% compared to the Hong Kong closing price.

| ADR | Converted HKD | Change from Hong Kong closing price | | Meituan ADR | 85.29 | -1.62% | | Tencent ADR | 490.94 | -0.94% | | HSBC ADR | 124.62 | -0.14% | | Alibaba US Stock | 122.67 | -0.27% |

More Hong Kong stocks ADR and China concept stock quotes:

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【07:30】Concerns over inflation continued as the Dow closed down 469 points at 45,960 points, the S&P 500 fell by 1.7% to 6,477 points, and the Nasdaq fell by 2.4% to 21,408 points.

Check US stock closing:

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Hong Kong stock market updates, for details see: 【Hong Kong stocks night futures + ADR + Northbound】Night futures closed down 8 points, with Meituan’s ADR lower than Hong Kong by 2%.