US Markets: Closed Thursday for a public holiday.
Hong Kong Market Overview
Hong Kong’s major indices opened higher but closed lower on Thursday.
Sector Performance
- Tech Stocks: Mostly declined. Meituan fell nearly 2%, JD.com and Baidu slipped around 1%, while NetEase gained over 1%.
- Real Estate: Property developers plunged, with Sunac China dropping over 21%.
- Semiconductors: Advanced strongly, led by SMIC’s gain of over 5%.
- Gold Stocks: Actively traded, with Lingbao Gold jumping over 10%.
- IPO Debut: Toymaker Pop Mart surged over 50% on its first trading day.
Key News
The sharp decline in Sunac China followed news of a liquidation petition filed by Cinda Asset Management (Hong Kong) against the company. The hearing is scheduled for March 19, according to the judicial website.
Technical Analysis of Hong Kong Market
Market Recap
- Hang Seng Index: -0.44% to 19,155.66
- Hang Seng Tech Index: -0.4% to 4,294.41
- Hang Seng China Enterprises Index: -0.53% to 6,942.32
China A-Share Market Overview
Mainland Chinese markets experienced fluctuations throughout Thursday as indices opened mixed and trended lower. The combined turnover for the Shanghai, Shenzhen, and Beijing exchanges reached RMB 740 billion, with 4,131 stocks declining, 1,219 gaining, and 105 unchanged.
Sector Performance
- Top Gainers: Electric spindles, Tesla Cybertruck components, inverters, thermal materials, wind turbine bearings, and industrial motion control systems.
- Top Decliners: Uninterruptible power supplies (UPS), dry transformers, water heaters, lead-acid batteries, HVDC, supply chain cooperatives, and supermarket chains.
Technical Analysis of China Market
Market Recap
- Shanghai Composite Index (SSE): -0.39% to 3,198.83
- Shenzhen Component Index (SZSE): -0.65% to 9,910.96
- ChiNext (Growth Enterprise Market Index): -0.5% to 2,000.57
Risk Disclosure
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Disclaimer
This information contained in this blog is for general reference only and is not intended as investment advice, a recommendation, an offer, or an invitation to buy or sell any financial instruments. It does not consider any specific recipient’s investment objectives or financial situation. Past performance references are not reliable indicators of future performance. D Prime and its affiliates make no representations or warranties about the accuracy or completeness of this information and accept no liability for any losses or damages resulting from its use or from any investments made based on it.
The above information should not be used or considered as the basis for any trading decisions or as an invitation to engage in any transaction. D Prime does not guarantee the accuracy or completeness of this report and assumes no responsibility for any losses resulting from the use of this report. Do not rely on this report to replace your independent judgment. The market is risky, and investments should be made with caution.
