This week, Hong Kong stocks experienced significant volatility, with the $HSI(HSI)$ falling 1.12%, dropping below the key 24,000-point mark.
US Market Drops Drag Down Hong Kong Stocks
The US stock market took a sharp dive this week, with the $NASDAQ(.IXIC)$ down 4.9%.
The cause? Trump’s aggressive stance on tariffs, raising fears that the US economy could slide into recession. In response to the market plunge, Trump softened his tone, admitting some economic turbulence ahead but reaffirming his goal to bring wealth back to Americans, which will take time.
Later, the US reported a 2.8% year-on-year CPI for February, marking a new low since last November. The number was slightly below expectations, which caused a brief rally, but the market still saw another sharp drop on Thursday, with Nasdaq hitting a new low.
Despite the US market's downturn, Hong Kong stocks managed to hold steady, thanks to a massive inflow of southbound capital.
On the domestic front, the Two Sessions closed this week. The central bank announced plans to cut the reserve requirement ratio (RRR) and interest rates when the timing is right, signaling potential monetary easing.
Additionally, the State Council Information Office will hold a press conference next Monday to discuss measures to boost consumption. This is expected to stir up speculation around consumer stocks.
Southbound funds surged this week, with a record net purchase of HKD29.6 billion on Monday alone.
Energy and Telecom sectors led the gains, while real estate underperformed.
Next week, several key economic data points will be released, including retail sales and industrial output. Companies like $TENCENT(00700)$ $MEITUAN-W(03690)$, and others will also report earnings, which could significantly impact the market.
Major Events in Hong Kong Stocks This Week
1.Southbound funds hit a record net purchase of HKD29.6 billion on Monday alone.
2. $LEAPMOTOR(09863)$ reports a 92% rise in revenue for 2024, aiming to sell 600,000 vehicles.
3. $LAOPU GOLD(06181)$ hits a new all-time high, up nearly 20 times since its IPO.
4.Chinese collaborative robotics company, $DOBOT(02432)$ , sees its stock hit a new high.
5. $BABA-W(09988)$ launches its flagship AI app, Quark.
6.The $HKEX(00388)$ is exploring lowering the threshold for investing in high-priced stocks.
7.A State Council Information Office press conference will discuss measures to stimulate consumption on March 17.
8.The central bank signals potential RRR and interest rate cuts.
9. $TENCENT(00700)$ to purchase billions of dollars worth of chips from $NVIDIA(NVDA)$ .
10.Gold prices continue to climb, reaching new record highs over $3,000.
11.The Hang Seng Index Ltd. launches the Hang Seng High Dividend Stock 30 Index.
12.U.S. February CPI Rose 2.8% Year-on-Year, Hitting a New Low Since November Last Year.
Four Stocks Worth Attention Among Top Trading HK Stocks This Week
Top 4: $MIXUE GROUP(02097)$ . Since its IPO on March 3, Mixue Group has seen its stock price rise continuously, with an increase of over 14% this week. Its market cap has surpassed HKD150 billion, overtaking $YUM CHINA(09987)$ .
Top 5: $XPENG-W(09868)$ . The company held its 2025 spring launch event, introducing the new XPeng G6 and G9. In just 45 minutes after the 2025 XPeng G9's launch, the company received over 3,000 preorders!
Top 9: $NIO-SW(09866)$ . Recently, NIO has been making company-wide organizational changes, including layoffs across multiple departments such as UR Fellow, PT Energy, NIO House operations, and after-sales teams. The mobile software team has also been merged into the digital cockpit team. This has led to optimism among investors, with the stock price experiencing a significant surge.
Top 10: $MAO GEPING(01318)$ . This week, Mao Geping was included in the Hong Kong Stock Connect, causing its stock price to soar and hit a new all-time high!
Next Week's Hong Kong Stock Market Events
1. The State Council Information Office will hold a press conference next Monday at 3 PM to discuss measures to boost consumption.
2. Next Monday, the National Bureau of Statistics will release data on retail sales, industrial output, and fixed asset investment for January and February. Analysts expect retail sales to increase 3.8% year-on-year, industrial output to grow 5.3%, and fixed asset investment to rise 3.2%.
3. On Thursday, the Federal Reserve will announce its interest rate decision. All eyes will be on the monetary policy statement.
4. On Thursday, the People's Bank of China will announce the Loan Prime Rate (LPR). Investors will be looking for signs of a potential rate cut.
5. Next week, companies like $WUXI APPTEC(02359)$ $WUXI BIO(02269)$ $XIAOMI-W(01810)$ $XPENG-W(09868)$ $TENCENT(00700)$ $MEITUAN-W(03690)$ $NIO-SW(09866)$ will report earnings.
Comments