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<H Shrs>HSI Rises 2% on First Day of 2Q; Pharma Stocks Surge, Zhihu Soars 30%
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The market anticipates a potential end to the conflict between the US and Iran, leading to a decline in international oil prices. Hong Kong stocks rose on the first day of the second quarter. Overnight, the DJIA and Nasdaq increased by 2.5% and 3.8%, respectively. At the time of writing, the yield on the US 2-year Treasury fell to 3.762%, and the yield on the US 10-year Treasury fell to 4.277%. The US Dollar Index dropped to 99.52. The latest DJIA futures rose by 218 points or 0.47%, and Nasdaq futures rose by 150 points or 0.6%. The Shanghai Composite Index rose by 56 points or 1.5% to close at 3,948 points, while the Shenzhen Component Index rose by 1.7%, and the ChiNext Index rose by 2%. The total turnover of the Shanghai and Shenzhen stock markets amounted to RMB2.01 trillion. The HSI opened 569 points higher, once rising by 641 points to a peak of 25,429 points, and closed up 505 points or 2% at 25,294 points. The HSCEI rose by 130 points or 1.6% to close at 8,504 points, and the HSTECH rose by 106 points or 2.3% to close at 4,756 points. The total market turnover for the day was HKD291.421 billion. The total turnover of Northbound trading was HKD128.141 billion, while Southbound funds recorded a net outflow of HKD12.694 billion (compared to a net inflow of HKD703 million on the previous trading day). [Anticipation of US-Iran Peace, Zhihu Soars 30%] Tech stocks generally performed well, with TENCENT (00700.HK) and KUAISHOU (01024.HK) rising by 2.6% and 2.4%, respectively. ALIBABA (09988.HK), BAIDU (09888.HK), and NETEASE (09999.HK) rose by 3.1% to 3.7%, while BILIBILI (09626.HK) and DONGFANG ZHENXUAN (01797.HK) surged by 7% and 10.5%, respectively. AI stocks surged, with MINIMAX (00100.HK) rising by 14% to close at HKD1,060, and ZHIHU (02513.HK) soaring by 31.9% to close at HKD915, with a turnover of HKD4.981 billion. CICC released a report stating that ZHIHU's 2025 performance met the firm's expectations, with 2025 revenue of RMB724 million, a YoY increase of 132%, and an adjusted net loss of RMB3.18 billion. The 2025 performance met both the firm's and market expectations. The company disclosed that as of March 2026, the API ARR (Annual Recurring Revenue of Application Programming Interface) for MaaS (Model as a Service) reached RMB1.7 billion, a 60-fold YoY increase. Due to "improved model intelligence and increased downstream demand," the 2026 API ARR growth significantly exceeded the firm's and market expectations. [Short Selling Rate Rises, Pharma Stocks Surge] The market breadth improved today, with 83 HSI constituent stocks rising and 7 falling, resulting in an advance-decline ratio of 92 to 8 (compared to 52 to 47 the previous day). The market recorded short selling of HKD43.958 billion, accounting for 24.511% of the turnover of stocks available for short selling, which amounted to HKD179.34 billion. Pharma stocks surged, with 3SBIO (01530.HK), JUNSHI BIOSCIENCES (01877.HK), PHARMARON (03759.HK), INNOCARE (09969.HK), and RONGCHANG BIO (09995.HK) rising by 9.6% to 15.2%. CSPC PHARMACEUTICAL (01177.HK), GENSCRIPT (01548.HK), KELUN-BIOTECH (06990.HK), INNOVENT BIO (09606.HK), and LUYE PHARMA (02186.HK) rose by 8% to 8.9%. The spot gold price rose above USD4,700 per ounce, boosting metal and resource stocks. CHINA SILVER (00815.HK), ZIJIN MINING (02899.HK), and JIANGXI COPPER (00358.HK) rose by 5.1% to 5.9%, while CHINA GOLD INTERNATIONAL (02099.HK), MMG (01208.HK), and CMOC (03993.HK) rose by 7.7% to 8.6%. LINGBAO GOLD (03330.HK) rose by 10.5%. (wl/u) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. 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. Auto-translated by AI AASTOCKS Financial News |
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