In the Hong Kong stock market, the Hang Seng Index fell 39 points in the first half of the day, Anta dropped over 5%, and SMIC HUA HONG SEMI rose

Market focuses on the US-EU Greenland dispute, Hong Kong stocks opened weakly. The Hang Seng Index opened 90 points lower and then rebounded slightly, once rising 79 points to 26,567 points, closing down 39 points or 0.2% at 26,447 points; the National Index fell 24 points or 0.3% to 9,070 points; the Hang Seng Tech Index rose 8 points or 0.15% to 5,691 points. The total turnover of the market for the half day was HKD 127.653 billion.

DeepSeek's new model MODEL1 was exposed, and AI-related stocks developed individually, with GDS Holdings (09698.HK) and VoiceTech (09678.HK) falling 3.2% and 5.2%. Inspur (03696.HK) and MINIMAX (00100.HK) rose 5.5% and 6.6%. In the chip-related stocks, SMIC (00981.HK), ASMPT (00522.HK), and TianShu Intelligent Chip (09903.HK) rose 3% to 4%, while Hua Hong (01347.HK) rose 4.7%. InnoCare (02577.HK) and Bairun (06082.HK) fell 5.6% and 3.6%.

Baidu (09888.HK) received target price upgrades from Morgan Stanley and Citigroup, with its stock price rising 3.3%, as the market focuses on the listing progress of its Kunlun chip. Lenovo Group (00992.HK), which supplies servers, fell 3.3%. Among telecommunications equipment stocks, ZTE (00763.HK) rose 3.3%.

In other tech stocks, Tencent (00700.HK) fell 0.2% to HKD 600, JD.com (09618.HK) and Kuaishou (01024.HK) rose 0.3% and 0.7%, Alibaba (09988.HK) rose 1.1%, and Meituan (03690.HK) fell 0.8%. NetEase (09999.HK) fell 3.4%. Additionally, Alibaba Health (00241.HK) rose 2.9%, while Dongfang Zhenxuan (01797.HK) fell 2.1%. Mobile component stocks Goertek (01415.HK) and QiuTi (01478.HK) rose 3.5% and 4.4%, while AAC Technologies (02018.HK) fell 4.8%.

In the automotive sector, BYD (01211.HK) rose 1.1% to HKD 98.15, while Xiaomi (01810.HK), Nio (09866.HK), and XPeng (09868.HK) fell 2% to 2.3%. Xiaomi previously responded to two car fire incidents, stating that it is fully cooperating with the investigation. Autonomous driving stocks WeRide (00800.HK) and Pony.ai (02026.HK) fell 3.9% and 4.5%. China National Heavy Duty Truck Group (03808.HK) recorded a large order before the market opened, involving 57 million shares at a price of HKD 27.62 per share, totaling HKD 1.574 billion. The stock opened 5.7% lower but rebounded 6.1% to HKD 31.84 at midday Pharmaceutical stocks WuXi AppTec (02268.HK) and WuXi Biologics (02269.HK) rebounded by 2.5% and 3.1%, while Kelun-Biotech (06990.HK) and CanSino (09926.HK) fell by 2.7% and 3.1%.

Anta (02020.HK) reported low single-digit growth in retail sales for its "Anta" brand products last year. Daiwa cited the company's management stating that this year will be an "investment year," which the firm believes means the group's operating profit margin will decline. Anta fell 5.8% to close at HKD 77.8, with a transaction volume of HKD 1.685 billion. Peer Li Ning (02331.HK) dropped 4%, while textile stock Shenzhou (02313.HK) fell 3.6%. Consumer stocks Ma Ge Ping (01318.HK), Mixue (02097.HK), and Pop Mart (09992.HK) declined by 2.2% to 3.3%.

In the financial sector, HSBC (00005.HK) closed flat at HKD 128.4, while Hong Kong Exchanges and Clearing (00388.HK) and AIA (01299.HK) fell by 0.9% and 0.2%. Spot gold surpassed the USD 4,800 level, with China Gold International (02099.HK) and Zijin Mining (02899.HK) rising by 2.3% and 1.2%. Shandong Gold (01787.HK) and Zijin Gold International (02259.HK) increased by 3.7% and 4%, while Zhaojin (01818.HK) and China Gold International (02099.HK) rose by 2.3%, and Lingbao (03330.HK) surged by 7.6%.

Domestic property stocks such as R&F Properties (01109.HK), Sunac (01918.HK), and China Overseas (00688.HK) fell by 2.5% to 3.6%. Vanke (02202.HK) was the first domestic bond to be approved for extension, with its stock price rising by 2%. Local real estate stock New World (00017.HK) continued to decline by 4.8%, closing at HKD 9.42