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Mid-day Review: All three major indexes dropped by about 2%; Technology, internet companies, real estate, and golden industrial concepts fell, while Pop Mart rose nearly 11% against the trend.
As of press time, the Hang Seng Index fell by 1.84%, the National Index fell by 1.94%, and the Science and Technology Index fell by 1.53%. Network technology stocks fell collectively, with jd.com and Netease falling by more than 3%, Alibaba falling by nearly 3%, Kuaishou and Baidu falling by nearly 2%, and Xiaomi, bilibili, and Meituan falling by more than 1%.
HK stocks surged | Weibo-SW(09898) rose more than 4% and collaborated with Iqiyi to release popular drama and variety AI character accounts. The company may maintain a $0.2 billion annual dividend.
Weibo-SW(09898) is up over 4%, as of press time, up 4.25%, at HKD 67.45, with a turnover of 3.0098 million Hong Kong dollars.
Hong Kong Shares Rebound 2.9% Amid Positive Sentiment
DBS: Weibo-SW (09898) may maintain an annual dividend of $200 million.
Weibo is currently shifting its marketing budget towards channels with higher ROI. According to Morgan Stanley, this should increase the ratio of DAU/MAU (daily/monthly active users).
Hang Seng Index Likely to Consolidate Between 18500-20000 Near Term
Institutions: Hold high-dividend assets with peace of mind, and have a more flexible layout of Hong Kong stock core assets
The bear market mentality developed over the past few years has made the improvement in risk appetite in Hong Kong stocks not happen overnight. Hong Kong stocks are expected to spiral upward. Currently, the first phase of the market, driven by bearish correction and expected recovery in Hong Kong stocks, has basically come to an end.