"Hong Kong Stocks" The Hang Seng Index fell 265 points in the first half of the day, some AI stocks and pharmaceutical stocks retreated, while power equipment stocks surged

Mainland China's economic growth in the fourth quarter and for the whole year met expectations last year. Trump threatened to impose tariffs on eight NATO countries over the Greenland issue, causing the Dow futures to drop more than 300 points during the Asian session. Hong Kong stocks fell in early trading following the external market. The Hang Seng Index opened down 203 points, initially dropping 311 points to a low of 26,533 points before narrowing the decline, reaching a high of 26,715 points down 129 points, closing down 265 points or 1% at 26,579 points; the National Index fell 77 points or 0.9% to 9,142 points; the Hang Seng Tech Index fell 66 points or 1.1% to 5,755 points. The total turnover of the market for half a day was HKD 132.94 billion.

According to reports, four smartphone manufacturers, Xiaomi, OPPO, vivo, and Transsion, have lowered their annual shipment forecasts. Xiaomi (01810.HK) fell 1.9%, while smartphone component stocks such as Q Technology (01478.HK), AAC Technologies (02018.HK), and Sunny Optical (02382.HK) fell over 2%. Robotics stock Roborock (699189.SH) had its listing application reviewed by the Hong Kong Stock Exchange, while its peer UBTECH ROBOTICS (09880.HK) reached a humanoid robot cooperation with Airbus in the aerospace manufacturing field, with UBTECH's stock price bouncing up 7.3% for half a day.

In other tech stocks, Tencent (00700.HK), Meituan (03690.HK), and JD.com (09618.HK) fell 1% to 1.2%, Kuaishou (01024.HK) and Alibaba (09988.HK) fell 2.6% and 3.3%, respectively, while NetEase (09999.HK) rose 0.6% and Baidu (09888.HK) rose 2.5%. Bilibili (09626.HK) and Meitu (01357.HK) fell 7.7% and 8.1%, respectively, while Ping An Good Doctor (01833.HK) and Weimob (02013.HK) fell 4.4% and 4.6%, respectively. New Oriental (09901.HK), Xindong (02400.HK), and Kingdee (00268.HK) fell 3% to 3.6%. In the chip sector, SMIC (00981.HK) and Hua Hong Semiconductor (01347.HK) fell 2% and 4.3%, respectively.

In AI-related stocks, Jingwei (02228.HK) rose 3.4%, while Kingsoft Cloud (03896.HK), Inspur Intelligent (03696.HK), GDS Holdings (09698.HK), and Voice Tech (09678.HK) fell 3.7% to 5.5%, and Zhiyuan (02513.HK) and MINIMAX (00100.HK) each fell about 10%.

Changfei Optical Fiber (06869.HK) rose 5.6% against the market trend. Power equipment stocks Dongfang Electric (01072.HK) and Harbin Electric (01133.HK) continued to rise by 6.1% and 7.1%, respectively Pharmaceutical stocks declined, with China National Pharmaceutical Group (01177.HK), Sanofi (01530.HK), Innovent Biologics (01801.HK), WuXi AppTec (02268.HK), WuXi Biologics (02269.HK), Hansoh Pharmaceutical (03692.HK), Kelun-Biotech (06990.HK), and CStone Pharmaceuticals (09969.HK) falling by 4.6% to 6.1%. The drug research and development platform WuXi AppTec dropped by 3.6%.

Canada announced the import of 49,000 mainland electric vehicles, with tariffs reduced to 6.1%. Automotive stocks BYD (01211.HK) and Nio (09866.HK) rose over 1%. Chery (09973.HK) increased by 4.8%. Retail sales in the mainland last month slightly missed expectations, raising hopes for policy stimulus, with airline stocks China Southern Airlines (01055.HK) and China Eastern Airlines (00670.HK) soaring by 6.5% and 8.8%, respectively, while Air China (00753.HK) rose by 3.6%. Duty-free store China Duty Free Group (01880.HK) increased by 5.2%. Retail stocks Pop Mart (09992.HK) rose by 0.8%, while Mixue (02097.HK) and Lao Pu Gold (06181.HK) increased by 2.9% and 2.6%. Paper stocks Nine Dragons Paper (02689.HK) fell by 4%.

In the financial sector, HSBC (00005.HK), Hong Kong Exchanges and Clearing (00388.HK), and AIA (01299.HK) declined by 1.1% to 1.8%. Domestic insurance stocks China Pacific Insurance (00966.HK), PICC (01339.HK), and ZhongAn Online (06060.HK) fell over 2%, while brokerage stocks China Galaxy Securities (06881.HK), Huatai Securities (06886.HK), and CITIC Securities (06030.HK) dropped by 2.5% to 3%. With rising risk aversion, gold prices hit a new high, and Zhaojin Mining (01818.HK) rose by 3.3%. Real estate stocks New World Development (00017.HK) surged by 9.1% to HKD 10.39, while telecommunications stock China Mobile (00941.HK) fell below HKD 80, dropping 0.6% to HKD 79.65 in early trading