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<H Shrs> Hong Kong Stock Futures Settle Lower; ICBC and CCB Rise Post-Results
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The market is focused on the US-Iran conflict, with Yemen's Houthi forces joining the fray and attacking Israel, leading to a rise in international oil prices. On the Hong Kong stock futures settlement day today (30th), the market moved downward. Last Friday (27th), the US DJIA and Nasdaq fell by 1.7% and 2.2%, respectively. At the time of writing, the US 2-year bond yield dropped to 3.887%, and the US 10-year bond yield fell to 4.39%, while the US Dollar Index rose to 100.26. The latest DJIA futures rose by 186 points or 0.4%, and Nasdaq futures increased by 91 points or 0.4%. The Shanghai Composite Index rose by 9 points or 0.24% to close at 3,923 points, while the Shenzhen Component Index fell by 0.25%. The total turnover of the Shanghai and Shenzhen markets was nearly RMB1.92 trillion. The HSI opened 419 points lower, initially dropping 542 points to a low of 24,409 points before narrowing the decline. In the afternoon, it reached 24,811 points, down 140 points, and closed at 24,750 points, down 201 points or 0.8%. The HSCEI fell by 54 points or 0.65% to close at 8,399 points, and the HSTECH dropped by 87 points or 1.8% to close at 4,690 points. The total market turnover was HKD285.435 billion. The total turnover of Northbound trading was HKD121.013 billion, with a net outflow of HKD2.467 billion today (compared to a net outflow of HKD2.883 billion in the previous trading day). ICBC (01398.HK) and CCB (00939.HK) saw their stock prices rise by 1.8% and 1.9%, respectively, after announcing their results. Home appliance stocks were under pressure, with Midea (00300.HK) falling 3.5%, Haier Smart Home (06690.HK) and Hisense Home Appliances (00921.HK) dropping 5.4% and 6.4%, respectively. Movie stock Maoyan Entertainment (01896.HK) fell 4.7%. Retail stock Pop Mart (09992.HK) saw its price drop nearly 6.4% to a low of HKD140.1, closing down only 0.6% at HKD148.7. Additionally, Iran attacked aluminum companies in the UAE and Bahrain, causing aluminum stocks Chalco (02600.HK) and Hongqiao (01378.HK) to rise by 7.3% and 3.7%, and Nanshan Aluminum International (02610.HK) to increase by 7.1%. Yangtze Optical Fibre and Cable (06869.HK) surged 14.3% to close at HKD197. [Home Appliance Stocks Under Pressure, Aluminum Stocks Surge] Tencent (00700.HK), Alibaba-W (09988.HK), Meituan-W (03690.HK), and Kuaishou-W (01024.HK) fell by 1.7% to 2.4%, while JD-SW (09618.HK) and NetEase-S (09999.HK) dropped by 0.6% and 0.4%. CATL (03750.HK) declined by 0.3% to close at HKD632, and Xinyi Solar (00968.HK) fell by 3.8%. The State Administration for Market Regulation issued a notice on further implementing the "Anti-Unfair Competition Law of the People's Republic of China." It mentioned using various anti-unfair competition measures to prevent "involution" competition in key industries and fields such as platform economy, photovoltaics, lithium batteries, and new energy vehicles. It aims to precisely identify and lawfully address platform enterprises using unjustified means such as search rankings, business evaluations, algorithm control, traffic restrictions, product delisting, fee increases, delayed payments, transaction suspensions, internal penalties, or forcing or indirectly forcing platform operators to sell goods below cost through subsidies, discounts, red packets, promotions, etc., disrupting market competition order. When determining individual cases of violations, factors such as the nature of the transaction, production scale and type, market and sales conditions, production efficiency and technology, and product or service quality should be comprehensively considered. [1,400 Stocks Decline, Shenzhou Drops Post-Results] The Hong Kong stock market weakened today, with the main board's rise-to-fall ratio at 16 to 36 (compared to 28 to 22 the previous day), with 1,492 stocks falling (a decline of nearly 3%). Today, 25 HSI constituent stocks rose, while 64 fell, with a rise-to-fall ratio of 28 to 71 (compared to 60 to 38 the previous day). The market recorded short selling of HKD54.435 billion, accounting for 21.874% of the shortable stocks' turnover of HKD248.856 billion. Shenzhou International (02313.HK) saw its stock price drop by 8.1% to close at HKD48.04, making it the largest declining blue-chip stock. Shenzhou announced its results at noon, with revenue of RMB30.994 billion, up 8.1% YoY. Net profit was RMB5.825 billion, down 6.7% YoY, with an EPS of RMB3.88. A final dividend of HKD1.2 was declared, compared to HKD1.28 in the same period last year. Including the interim dividend of HKD1.38 already paid, the total proposed dividend for 2025 is HKD2.58, up about 2% YoY, with a payout ratio of approximately 60.9%. During the period, the gross profit margin was about 26.3%, down about 1.8 ppts YoY. (wl/da) Auto-translated by third-party software This translation was auto-generated by third-party software. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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