【Hong Kong Stock Market Close】Hang Seng Index Falls 223 Points; Alibaba Drops 6% After Earnings, Xiaomi Retreats Over 8%; CATL Rises 8% Against Market Trend to Break Record (Continuous Updates)

【Hang Seng Index / Hang Seng Index / HS/HSI / Hong Kong Stocks / Night Futures / ADR】Hong Kong stocks fell more than 200 points. The Hang Seng Index opened down 163 points at 25,337, briefly turned higher after the open, but then declined again, with a late session drop of up to 379 points, hitting a low of 25,121. The Hang Seng Index ultimately closed down 223 points at 25,277, with a turnover of HKD 342.52 billion. The Tech Index fell 2.5% to 4,872 points. Alibaba (09988) dropped over 6% after earnings, Xiaomi (01810) fell more than 8%, while CATL (03750) rose over 8% to break new highs.

US stocks are continuously updating; see the next page for details.

Financial Daily:

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Market Trends:

【16:59】【China Gas 003 Earnings】China Gas reports a 0.4% decrease in annual profit; final dividend maintained at HKD 0.23

【16:45】【CK Asset 1113】Review of broker comments on CK Asset’s earnings—JPM: Short-term may not see large-scale reinvestment; why did UBS raise its target price by 13%?

【16:43】【3750】CATL’s U-Drive surges, closing at HKD 698, up 8%, breaking new highs and breaking the “Blue Curse.” Why is the premium of H-shares over A-shares rising to nearly 49%, a new high?

【16:32】【IPO】Two new stocks will debut next Monday—Feishu Innovation (3355) surged 104% in the dark pool, with a maximum profit of HKD 4,340 per lot; GuoNian Technology (2701) rose 17%.

【16:10】 The Hang Seng Index closed down 223 points at 25,277, with a turnover of HKD 342.52 billion. The Tech Index fell 2.5% to 4,872. Alibaba (09988) dropped over 6%, Xiaomi (01810) fell more than 8%, CATL (03750) rose over 8% to break new highs.

【16:00】The Hang Seng U-Drive futures fell 226 points to 25,274, with HKD 290.21 billion in turnover.

【15:35】Minimax (00100) continued to retreat, down 6%, hitting HKD 998; Zhipu (02513) also fell over 6%, hitting HKD 616.5.

【15:25】【HSBC GIS】HSBC will hold the Global Investment Summit 2026 from April 14-16, inviting former US Treasury Secretary Yellen to speak | List of speakers included.

【15:23】【Food Stocks】GuoQuan plans to enter Hong Kong, aiming to open its first store this year to test the market.

【15:15】【257 Earnings】Everbright Environment increased profit by 16.2% last year, with a final dividend up 33% to HKD 0.12.

【15:08】SMIC (00981) fell 5%, Huahong Semiconductor (01347) down 2%.

【15:07】Hong Kong stocks declined about 350 points in the late session, closing at 25,149, with HKD 235.5 billion in turnover. The Tech Index fell 2.9% to 4,851.

【14:06】【HSBC Major Bank Report】Morgan Stanley: HSBC’s Middle East business contributed 5% of group pre-tax profit; management remains confident in achieving performance targets.

【14:06】【17】New World Development’s stock was weak; the Zheng family is considering a rights issue or share placement to inject HKD 31.2 billion into New World, confident that the local property market rebound will accelerate.

【13:17】In the afternoon, Hang Seng Index extended decline to about 200 points, testing 25,300. Alibaba (09988) fell over 6%, Xiaomi (01810) also retreated over 6%.

【13:14】Tai Hing (03811) after earnings plunged 7%, hitting HKD 1.07, with HKD 3.55 million in turnover.

【13:00】Hong Kong stocks maintained a decline of over 100 points in early afternoon, at 25,351, down 149, with HKD 156.9 billion in turnover. The Tech Index fell 1.7% to 4,910.

【12:51】Datang West City (00620) suspended trading, last price HKD 0.355, down 42.7%, with HKD 17.29 million in turnover before suspension.

【12:51】【Tai Hing 6811 Earnings】Tai Hing Group’s final dividend of HKD 0.05, doubled year-on-year; current dividend yield 7.4%; full-year profit increased by 72%.

【12:45】【Property Developer Warning】Zhengrong Real Estate expects a maximum 1.6-fold increase in losses last year, up to RMB 18 billion.

【12:10】【762 Analysis】China Unicom’s stock fell over 3% after earnings; Credit Suisse lowered its target price; analysis: earnings were average but AI highlights remain.

【12:00】The Hang Seng Index fell 161 points at midday, to 25,338, with HKD 154.2 billion in turnover. The Tech Index dropped 1.7% to 4,911. Alibaba (09988) declined nearly 6% after earnings, Tencent (00700) down over 1%, Li Ning (02331) rose 10% against the trend. Auto stocks generally rose, Geely (00175) up 7%, BYD (01211) up nearly 2%.

【11:46】【AI+9988】Alibaba’s Q3 3.5 flagship model preview unveiled, surpassing GPT 5.4 and Claude 4.6, ranking 5th among global large model companies.

【11:38】【1810 Analysis】Xiaomi’s stock plunged 7% after the launch event; Goldman Sachs says the new SU7 performed strongly initially; analysis: focus on gross margin pressure.

【11:05】【9988 Analysis】Alibaba’s stock fell 6% after earnings; Daiwa lowered its target price to HKD 184; analysis: long-term AI development remains attractive.

【10:58】【1910 Earnings】Luggage brand Samsonite’s stock fell 11% after earnings; last year’s profit down 16%; Timothy Charles Parker will step down as chairman, succeeded by Jerome Squire Griffith.

【10:49】Zijin (02899) down 0.9%; Zijin Gold International (02259) up over 4%; Zhaojin (01818) up 1%; Lingbao Gold (03330) up over 3%; Shandong Gold (01787) up nearly 1%.

【Gold Price Trend】Gold prices face the largest weekly decline in 6 years—what is the current price per two ounces?

【10:49】Geely (00175) up over 6%; BYD (1211) up over 2%; Li Auto (02015), NIO (09868) up over 2%, XPeng (09868) down 4%.

【09:55】Market turned lower again, down about 131 points to 25,369; Alibaba (09988) down over 4%; Xiaomi (01810) retreated over 6%.

【09:54】【2331 Earnings】Li Ning’s stock rose 13% after earnings; net profit last year down 2.6%, final dividend increased nearly 13% to RMB 0.2336.

【09:40】Hong Kong stocks opened higher, Hang Seng Index up about 23 points at 25,523.

【09:40】【IPO】Hua Yan Robotics (1021) raised over HKD 1.3 billion; collaborative robot company; entry fee HKD 3,434 per lot.

【09:22】【Guanghe Technology (01989)】First trading day opened at HKD 95.05, 32.2% above IPO price of HKD 71.88; profit HKD 2,317 per lot based on 100 shares.

【IPO】Guanghe Technology (01989) opened 32% higher on debut, profit HKD 2,317 per lot, oversubscribed 1069.7 times.

【09:22】The Hang Seng Index opened 163 points lower at 25,337, with HKD 5.64 billion in turnover; the Tech Index fell nearly 1% to 4,648. Alibaba (09988) dropped over 6%, Tencent (00700) down over 1%, Li Ning (02331) rose 10% against the trend.

【09:08】Hang Seng Futures declined about 67 points, at 25,370.

【08:42】【IPO】Han Tiancheng (2726) raised HKD 1.6 billion; silicon carbide wafer supplier; entry fee HKD 3,851 per lot.

【08:19】【IPO】Tongrentang Medical & Elderly Care (2667) raised nearly HKD 900 million; subsidiary of Tongrentang; entry fee HKD 4,192 per lot.

【07:55】【IPO】Desite (2526) raised nearly HKD 900 million; focuses on medical imaging products; entry fee HKD 5,682 per lot.

【07:45】【9988 Earnings】Alibaba fell 7%; CEO: Cloud and AI business revenue expected to exceed USD 100 billion in five years; immediate retail profits in FY29.

【07:45】【Morning Brief】Alibaba’s adjusted net profit last quarter below expectations; PCCW’s full-year profit up 7%; Cathay Pacific ranks second globally among airlines.

【07:45】Iran conflict concerns eased, Chinese concept stocks’ decline narrowed to 1%, closing at 6,945; night futures down 151 points, closing at 25,312. Alibaba’s US stock is down 7% compared to HK stocks.

| ADR | HKD Equivalent | Change from HK Market Close | | Meituan ADR | 78.96 | -2.15% | | Tencent ADR | 507.86 | -1.00% | | HSBC ADR | 124.49 | +0.40% | | Alibaba US Stock | 122.30 | -7.35% |

More Hong Kong ADRs and Chinese concept stocks quotes:

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【07:30】US stocks declined; Dow closed down 203 points at 46,021; S&P 500 down 0.3% at 6,606; Nasdaq down 0.3% at 22,090.

See US market close now:

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Hong Kong stocks yesterday, for details see: 【Hong Kong Night Futures + ADR + Northbound Funds】Alibaba US stocks down 7%, night futures down 151 points.