【Hang Seng Index Futures + Northbound Capital】Northbound Capital Outflows Exceed 21 Billion for the Day, Accumulating Xiaomi, Alibaba, Tencent; Major Players Sell Index ETFs, Hang Seng Index Futures Down 77 Points (Continuously Updated)

【Hang Seng Index / Hang Seng / HS / HSI / Hong Kong Stocks / Night Futures / ADR】Northbound funds recorded a massive outflow throughout the day, with a net outflow of HKD 21.01 billion. Xiaomi (01810) and Alibaba (09988) each recorded net inflows of HKD 2.46 billion and HKD 2.04 billion, respectively, while Tencent (00700) had a net inflow of HKD 680 million. On the outflow side, funds sold three major index ETFs: the Tracker Fund (02800), Hang Seng China Enterprises ETF (02828), and Southern Hang Seng Tech ETF (03033), which recorded net outflows of HKD 13.38 billion, HKD 4.18 billion, and HKD 3.63 billion, respectively.

Hang Seng Index night futures fell 77 points to 25,173 points.

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Hang Seng Index fell 223 points to close at 25,277 points, with a trading volume of HKD 34.252 billion.

The Tech Index dropped 2.5% to 4,872 points. After earnings, Alibaba (09988) fell more than 6%, Xiaomi (01810) dropped over 8%, while CATL (03750) rose over 8% to break new highs amid the market reversal.

The Hong Kong stocks declined over 200 points. The Hang Seng Index opened 163 points lower at 25,337, initially rose after opening, but then declined again, with a maximum drop of 379 points to a low of 25,121. The index ultimately closed down 223 points at 25,277, with a turnover of HKD 34.25 billion. The China Concept Stock Index fell 2.5% to 4,872. Alibaba (09988) dropped over 6% after earnings, Xiaomi (01810) fell more than 8%, while CATL (03750) surged over 8% to hit a new high.

US Markets continue to update; details on the next page

Financial Daily:

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Market Trends:

【19:25】Northbound funds outflow over HKD 21 billion for the day, buying Xiaomi, Alibaba, Tencent, large-scale selling of index ETFs. Hang Seng night futures down 77 points.

【16:59】【China Gas 003 Earnings】China Gas reports a 0.4% decrease in annual profit; final dividend maintained at HKD 0.23.

【16:45】【CK Asset 1113】Review of broker comments on CK Asset earnings; JPM: Short-term no large-scale reinvestment expected; why does UBS raise target price by 13%?

【16:43】【3750】CATL surges 8% to break new highs amid market reversal; why does the H-share premium to A-shares reach nearly 49%, a new high?

【16:32】【IPO】Two new stocks listed next Monday; Feishu Innovation (3355) surged 104% in the dark pool, with a maximum profit of HKD 4,340 per lot; GuoNian Technology (2701) rose 17%.

【16:10】Hang Seng Index finally closed down 223 points at 25,277, with a turnover of HKD 34.25 billion; Tech Index down 2.5% at 4,872.

Alibaba (09988) fell over 6% after earnings; Xiaomi (01810) dropped more than 8%; CATL (03750) rose over 8% to hit a new high.

【16:00】Hang Seng U-Share futures down 226 points at 25,274, with a turnover of HKD 29.02 billion.

【15:35】MINIMAX (00100) continued to retreat 6%, low at HKD 998; Zhipu (02513) also fell over 6%, low at HKD 616.5.

【15:25】【HSBC GIS】HSBC to hold Global Investment Summit 2026 from April 14-16, inviting former US Treasury Secretary Yellen to speak | List of speakers

【15:23】【Food Stocks】Hotpot chain plans to enter Hong Kong, aiming to open its first store this year to test the market.

【15:15】【257 Earnings】Everbright Environment increased profit by 16.2% last year; final dividend up 33% YoY to HKD 0.12.

【15:08】SMIC (00981) fell 5%; Huahong Semiconductor (01347) down 2%.

【15:07】Hong Kong stocks fell about 350 points in the late session, closing at 25,149, with a turnover of HKD 23.55 billion; Tech Index down 2.9% at 4,851.

【14:06】【HSBC Major Bank Report】Morgan Stanley: HSBC’s Middle East business contributes 5% of group pre-tax profit; management remains confident in achieving performance targets.

【14:06】【17】New World Development’s stock weak; the Zheng family considers rights issue or share placement to inject HKD 31.2 billion; confident in a rebound in Hong Kong’s real estate market.

【13:17】Hang Seng Index extended decline to about 200 points in the afternoon, testing 25,300. Alibaba (09988) down over 6%, Xiaomi (01810) also retreated over 6%.

【13:14】Taixing (03811) earnings after market close plunged 7%, low at HKD 1.07; turnover HKD 3.55 million.

【13:00】Hong Kong stocks maintained a decline of over 100 points in early afternoon, at 25,351, down 149, with a turnover of HKD 15.69 billion; Tech Index down 1.7% at 4,910.

【12:51】Datang West City (00620) suspended trading, last reported HKD 0.355, down 42.7%; turnover HKD 17.298 million.

【12:51】【Taixing 6811 Earnings】Taixing Group’s final dividend HKD 0.05, doubled YoY; current dividend yield 7.4%; full-year profit increased by 72%.

【12:45】【Property Developer Warning】Zhengrong Real Estate expects a loss of up to 1.6 times, reaching HKD 18 billion RMB.

【12:10】【762 Analysis】China Unicom (0762) fell over 3% after earnings; Credit Suisse lowered target price; analysis: earnings are average but AI highlights remain.

【12:00】Hang Seng half-day down 161 points at 25,338, with a turnover of HKD 15.42 billion; Tech Index down 1.7% at 4,911. Alibaba (09988) fell nearly 6% after earnings; Tencent (00700) down over 1%; Li Ning (02331) rose 10% against the trend.

【11:46】【AI + 9988】Alibaba’s Q&A 3.5 flagship preview model unveiled, surpassing GPT 5.4 and Claude 4.6, ranking 5th among global large model companies.

【11:38】【1810 Analysis】Xiaomi surged 7% after the launch event; Goldman Sachs notes strong initial performance of new SU7; analysis: focus on gross margin pressure.

【11:05】【9988 Analysis】Alibaba’s stock fell 6% after earnings; Daiwa lowered target price to HKD 184; analysis: long-term AI development remains attractive.

【10:58】【1910 Earnings】Luggage brand Samsonite fell 11% after earnings; last year’s profit down 16%; Timothy Charles Parker to resign as chairman, succeeded by Jerome Squire Griffith.

【10:49】Zijin (02899) down 0.9%; Zijin Gold International (02259) up over 4%; Zhaojin (01818) up 1%; Lingbao Gold (03330) up over 3%; Shandong Gold (01787) up nearly 1%.

【Gold Price Trend】Gold faces the largest weekly decline in 6 years; what is the current price per two ounces?

【10:49】Geely (00175) up over 6%; BYD (1211) up over 2%; Li Auto (02015) up over 2%; Xpeng (09868) down 4%.

【09:55】Market turned down again, about 131 points lower at 25,369; Alibaba (09988) down over 4%; Xiaomi (01810) retreated over 6%.

【09:54】【2331 Earnings】Li Ning’s stock rose 13% after earnings; net profit down 2.6% last year; final dividend up nearly 13% to HKD 0.23.

【09:40】Hong Kong stocks turned higher after market open, with the Hang Seng up about 23 points at 25,523.

【09:40】【IPO】Hua Yan Robotics (1021) raised over HKD 1.3 billion; collaborative robot company; HKD 3,434 per lot.

【09:22】Guanghe Technology (01989) debuted at HKD 95.05, 32.2% above IPO price of HKD 71.88; profit HKD 2,317 per lot based on 100 shares.

【IPO】Guanghe Technology (01989) opened 32% higher, earning HKD 2,317 per lot; oversubscribed 1069.7 times.

【09:22】Hang Seng opened HKD 163 lower at 25,337, with a turnover of HKD 5.64 billion; Tech Index down nearly 1% at 4,648; Alibaba (09988) down over 6%; Tencent (00700) down over 1%; Li Ning (02331) up 10% after earnings. The market rebounded against the trend.

【9988 Earnings】Alibaba’s latest quarter adjusted net profit HKD 16.7 billion, below expectations; impacted by strategic investments; revenue up 2% YoY; AI Q&A MAU exceeds 300 million.

【09:08】Hang Seng futures down about 67 points at 25,370.

【08:42】【IPO】Han Tian Tiancheng (2726) raised HKD 1.6 billion; silicon carbide external supply; HKD 3,851 per lot.

【08:19】【IPO】Tongrentang Medical & Elderly Care (2667) raised nearly HKD 900 million; subsidiary of Tongrentang; HKD 4,192 per lot.

【07:55】【IPO】Desite (2526) raised nearly HKD 900 million; focuses on medical imaging products; HKD 5,682 per lot.

【07:45】【9988 Earnings】Alibaba down 7%; CEO: cloud and AI business revenue expected to exceed USD 100 billion in five years; retail segment profitable in FY29.

【07:45】【Morning Briefing】Alibaba’s adjusted net profit for last quarter below expectations; Cheung Kong’s full-year profit up 7%; Cathay Pacific ranks second globally among airlines.

【07:45】Iran conflict easing, Chinese concept stocks’ decline narrows to 1%, closing at 6,945; night futures down 151 points, closing at 25,312. Alibaba ADR and US stocks are 7% lower than Hong Kong stocks.

| ADR | HKD Equivalent | Change from HK Market Close | | Meituan ADR | 78.96 | -2.15% | | Tencent ADR | 507.86 | -1.00% | | HSBC ADR | 124.49 | +0.40% | | Alibaba ADR | 122.30 | -7.35% |

More Hong Kong stocks ADRs and Chinese concept stocks quotes:

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【07:30】US stocks declined; Dow down 203 points at 46,021; S&P 500 down 0.3% at 6,606; Nasdaq down 0.3% at 22,090.

See US market close for details:

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Hong Kong stocks yesterday’s market, see details at: 【Hong Kong Night Futures + ADR + Northbound Funds】 Alibaba and US stocks down 7% in Hong Kong, night futures down 151 points.