Hong Kong Stock Market Trend | Hang Seng Index rebounds 776 points after the post-holiday resumption of trading, the Tech Index surges more than 5%, northbound funds withdraw 21.5 billion

Middle East tensions are easing. The U.S. and Iran have agreed to a conditional ceasefire for two weeks, and Tehran will open the Strait of Hormuz, lifting stock markets in the Asia-Pacific region and A-shares. After the Easter and Qingming Festival long holiday, Hong Kong stocks returned to trading with a strong open and continued higher. Just after the market opened, they regained the 250-day moving average, popularly known as the bull-bear line (currently at 25152). Tech stocks led the rally, and the Hang Seng Index briefly rose by more than 800 points. It finished the day up 776 points, closing up 776 points, but remained capped by the 26,000 level.

After opening with a gap up of 656 points, the increase quickly expanded by more than 700 points, and by midday it was up 705 points. A friend pushed again during the afternoon session, heading toward the 26,000 level. The broader market broke the early session high and at one point rose as much as 817 points, reaching a high of 25,934 points. It closed up 776 points, or 3.09%, at 25,893 points.

The Hang Seng China Enterprises Index rose 220 points, or 2.61%, to 8,677 points; the Hang Seng Tech Index rose 244 points, or 5.22%, to 4,923 points.

Total turnover for the day was 372.44B yuan, and Northbound capital net outflow was 21.57B yuan.

Of 90 blue-chip stocks, 73 rose.

Internet and tech stocks were the main force driving the market higher. Meituan (03690) rose 10.28% to 88.5 yuan. The company’s Meituan Travel said that “Qingming + spring break” boosted dining, drinks, and entertainment consumption. Alibaba (09988) rose 6.8% to 126.5 yuan; Xiaomi (01810) rose 6.1% to 32.76 yuan; Kuaishou (01024) rose 4% to 46.7 yuan; Tencent (00700) rose 3.8% to 508 yuan.

Luoyang Molybdenum (03993) surged 10.6% to 18.75 yuan, the strongest-performing blue chip. Pop Mart (09992) rose 7.6% to 152.6 yuan; HSBC (00005) rose 6.6% to 138.6 yuan. The group is one of the two largest European banks with the biggest exposure to Middle East risk. China Biopharmaceutical (01177) fell 4.6% to 6.04 yuan; CSPC Pharmaceutical (01093) fell 4.1% to 9.31 yuan, the two weakest-performing blue chips.

The Shanghai Composite Index closed at 3,995 points, up 104 points, or 2.69%; the Shenzhen Component Index closed at 14,042 points, up 642 points, or 4.79%. The Nikkei Average closed at 56,308 points, up 2,878 points, or 5.4%; South Korea’s Kospi Composite Index closed at 5,872 points, up 377 points, or 6.9%.

Focus sectors

Oil stocks: Oil prices plunged sharply. CNOOC (00883) fell 3.3% to 26.12 yuan; PetroChina (00857) fell 2% to 10.56 yuan.

Airline stocks: Rising. China Eastern Airlines (00670) rose 8.1% to 4.02 yuan; China Southern Airlines (01055) rose 5.7% to 4.28 yuan; Air China (00753) rose 5.4% to 5.06 yuan; Cathay Pacific Airways (00293) rose 4.9% to 11.97 yuan.

Chip stocks: Bid up. Semiconductor Manufacturing International Corporation (00981) rose 10.1% to 56.15 yuan; Hua Hong Semiconductor (01347) surged 14.7% to 91 yuan; Pingtan? (09903) soared 33.7% to 293.8 yuan; Ruentex? (06809) rose 14.3% to 200 yuan.

Focus stocks

Zhipu (02513) released its new-generation open-source model GLM-5.1, and despite the headwinds, increased the price. The stock price jumped 11.5% to 868.5 yuan.

Vanke (02202) plans to extend bonds maturing in April. The stock rose 3.5% to 2.98 yuan.

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