Group 1: Market Overview - The nomination of Kevin Warsh as the Federal Reserve Chairman has triggered hawkish expectations, leading to significant volatility in global assets, with Hong Kong's Hang Seng Index falling below the 20,000 mark [1] - The Hang Seng Index closed down 2.23% at 26,775.57 points, with a total turnover of HKD 34.79 billion [1] - The market correction is viewed as a technical pullback due to the rapid previous gains, with ongoing concerns about the sustainability of market volatility [1] Group 2: Blue-Chip Stocks Performance - Sands China (01928) rose 4.05% to HKD 17.72, contributing 2.66 points to the Hang Seng Index, driven by better-than-expected gaming revenue in Macau [2] - Other blue-chip stocks like Lenovo Group (00992) and Galaxy Entertainment (00027) also saw gains, while China Unicom (00762) and Zijin Mining (02899) faced declines, dragging the index down [2] Group 3: Sector Performance - Large technology stocks experienced declines, with Alibaba dropping over 3% and Tencent over 1%, while gold and other precious metals faced significant sell-offs [3] - The automotive sector showed mixed results, with major players like XPeng and Great Wall Motors declining, while NIO reported a 96.1% year-on-year increase in deliveries [7] - Semiconductor stocks fell sharply, with Huahong Semiconductor down over 11% and other major players also experiencing significant losses [6] Group 4: Commodity Market Impact - The precious metals market saw a sharp decline, with gold prices dropping below USD 4,450 per ounce, marking a new low since January 8 [4] - The recent hawkish stance from the Federal Reserve is expected to influence commodity prices and the performance of the non-ferrous metals sector [4] Group 5: Telecommunications Sector - Major telecom operators, including China Unicom and China Telecom, faced pressure following the announcement of an increase in the VAT rate from 6% to 9%, which is expected to impact their revenues and profits [5] - The adjustment is seen as a clarification of the tax policy rather than an additional burden, potentially leading to improved operational efficiency in the industry [5] Group 6: Notable Stock Movements - MINIMAX (00100) showed strong performance, rising 10.68% to HKD 523.5, attributed to its unique technological capabilities [9] - China National Building Material (03323) issued a profit warning, predicting a loss of RMB 2.3 billion to RMB 4 billion for the year ending December 31, 2025 [10] - China Shenhua (601088) reported an expected profit decline of 10.6% to 18.6% for the fiscal year 2025, reflecting a weak industry outlook [11]

Group 1 - Oil and oil service stocks experienced a decline in early trading [1] - Shandong Molong (00568.HK) fell by 8.6%, trading at HKD 3.93 [1] - Sinopec Oilfield Service (01033.HK) decreased by 7.22%, trading at HKD 0.9 [1] - CNOOC Oilfield Services (02883.HK) dropped by 1.98%, trading at HKD 8.4 [1] - CNOOC (00883.HK) declined by 2.87%, trading at HKD 23.68 [1] - PetroChina (00857.HK) fell by 2.16%, trading at HKD 9.08 [1]

Group 1 - Oil and oil service stocks experienced a decline in early trading, with Shandong Molong down 8.6% to HKD 3.93, Sinopec Oilfield down 7.22% to HKD 0.9, CNOOC Oilfield down 1.98% to HKD 8.4, CNOOC down 2.87% to HKD 23.68, and PetroChina down 2.16% to HKD 9.08 [1] - WTI crude oil fell by 4% and Brent crude oil dropped by over 5% [1] - Iranian Foreign Minister Zarif indicated the possibility of reaching a fair agreement with the U.S., and an Iranian official stated that there are no plans for military exercises in the Strait of Hormuz, contradicting previous reports [1] Group 2 - Huatai Futures reported that the recent rise in oil prices is attributed to a combination of geopolitical, macroeconomic, and liquidity factors [2] - The macro sentiment and potential stabilization of the dollar may reduce the upward pressure on oil prices, while liquidity factors could also retreat [2] - The situation in Iran remains tense, particularly in the Strait of Hormuz, which is a critical oil export chokepoint, necessitating close monitoring of developments [2]

Group 1 - Oil and oil service stocks experienced a decline, with Shandong Molong down 8.6% to HKD 3.93, Sinopec Oilfield down 7.22% to HKD 0.9, CNOOC Oilfield down 1.98% to HKD 8.4, CNOOC down 2.87% to HKD 23.68, and PetroChina down 2.16% to HKD 9.08 [1] - WTI crude oil fell by 4% and Brent crude oil dropped by over 5% [1] - Iranian Foreign Minister indicated the possibility of reaching a fair agreement with the U.S., and an Iranian official stated there are no plans for military exercises in the Strait of Hormuz, contradicting previous reports [1] Group 2 - Huatai Futures reported that the recent rise in oil prices is influenced by geopolitical, macroeconomic, and liquidity factors [2] - The macro sentiment and potential stabilization of the dollar may reduce the upward pressure on oil prices, while liquidity factors could also retreat [2] - The situation in Iran remains tense, particularly concerning the Strait of Hormuz, which is crucial for global oil exports, necessitating close monitoring of developments [2]