Hopes for a de-escalation of conflict faded as a sharp rise in oil prices ahead of the long holiday dragged the Hang Seng Index down by 177 points; the biotech sector performed strongly against the trend, and attention can be paid to the China Asset Management Hang Seng Hong Kong Biotech ETF

The market had hoped that Trump would announce a ceasefire this morning, but Trump vowed to continue attacking Iran over the next two to three weeks and deliver a heavy blow, also stating that the US does not need Middle Eastern oil. The hope for a de-escalation of conflict quickly dissipated. After Trump began speaking, Brent crude oil futures surged past $108, selling pressure in the Asia-Pacific stock markets increased sharply, with South Korea's KOSPI plunging 4.5%, the Nikkei falling more than 2%, and Taiwan stocks dropping over 1.8%. On the last trading day before the Easter holiday, Hong Kong stocks opened 39 points lower and continued to decline, falling as much as 392 points in the afternoon to reach a low of 24,901 points, breaking below the 25,000-point mark. Some losses were recovered before the close, ultimately closing at 25,116 points, down 177 points or 0.7%, with a turnover of HK$243.6 billion; the Hang Seng Tech Index closed at 4,679 points, down 77 points or 1.63%; the Hang Seng China Enterprises Index closed at 8,456 points, down 47 points or 0.56%; among blue-chip stocks, 38 rose, 46 fell, and 6 remained unchanged; southbound capital flowed in heavily during the market downturn, with a net inflow of over RMB 19.8 billion throughout the day.

Several auto companies reported impressive delivery data for March, leading to overall gains in the sector. Geely Auto $GEELY AUTO (00175.HK)$ (0175) received positive comments from major investment banks, which noted its first-quarter sales exceeded expectations, with March exports increasing 34% quarter-on-quarter. Its share price surged 1.84 yuan or 8.37% throughout the day, closing at 23.82 yuan, hitting a new high of over four and a half years, making it the best-performing blue-chip stock of the day; Great Wall Motor $GWMOTOR (02333.HK)$ (2333) rose 0.92 yuan or 7.3%, closing at 13.45 yuan; Leapmotor $LEAPMOTOR (09863.HK)$ (9863) rose 1.75 yuan or 3.41%, closing at 53 yuan; Li Auto $LI AUTO-W (02015.HK)$ (2015) rose 0.6 yuan or 0.8%, closing at 71.8 yuan; Nio $NIO-SW (09866.HK)$ (9866) rose 0.32 yuan or 0.7%, closing at 48.7 yuan; however, some auto stocks fell, BYD $BYD COMPANY (01211.HK)$ (1211) dropped 0.8 yuan or 0.8%, closing at 103.9 yuan; XPeng Motors $XPENG-W (09868.HK)$ (9868) fell 0.5 yuan or 0.7%, closing at 67.75 yuan.

The pharmaceutical sector continued to perform strongly against the market trend today. Hansoh Pharma $HANSOH PHARMA (03692.HK)$ (3692) rose 1.94 yuan or 5.18%, closing at 39.36 yuan; CSPC Pharma $CSPC PHARMA (01093.HK)$ (1093) increased by 0.09 yuan or 0.9%, closing at 9.71 yuan; Wuxi Apptec $WUXI APPTEC (02359.HK)$ (2359) rose 1 yuan or 0.8%, closing at 124.9 yuan; Innovent Bio (1801) climbed 0.6 yuan or 0.7%, closing at 91.5 yuan; Wuxi Bio $WUXI BIO (02269.HK)$ (2269) gained 0.12 yuan or 0.3%, closing at 34.98 yuan.

Energy stocks performed well against the market trend today amid a sharp rise in oil prices. Brent crude futures surged over 6% in the afternoon; Shandong Molong $Luzhou Laojiao (000568.SZ)$ (0568) rose by 1.3 yuan or 16.37%, closing at 9.24 yuan; Samsung crude oil futures ETF $Samsung S&P GSCI Crude Oil ER (03175.HK)$ (3175) rose by 0.6 yuan or 6.2%, closing at 10.31 yuan; PetroChina $PETROCHINA (00857.HK)$ (0857) rose by 0.22 yuan or 2.1%, closing at 10.77 yuan; Sinopec $SINOPEC CORP (00386.HK)$ (0386) rose by 0.01 yuan or 0.2%, closing at 4.59 yuan; CNOOC $CNOOC (00883.HK)$ (0883) rose by 0.06 yuan or 0.2%, closing at 27.02 yuan.

Market sentiment for the pork concept sector is heating up, with related sectors rising today. Recent reports indicate that the Ministry of Commerce, National Development and Reform Commission, and Ministry of Finance are carrying out the central reserve frozen pork procurement work, while requiring local authorities to conduct synchronized procurements in order to better leverage reserve adjustments. They will continue to closely monitor pork market trends, strengthen trend analysis, and cooperate with relevant departments on reserve controls to ensure steady market operations. Dekon Agriculture $DEKON AGR (02419.HK)$ (2419) rose by 3.75 yuan or 5.51%; Muyuan Shares $MUYUAN (02714.HK)$ (2714) rose by 1.66 yuan or 4.1%; WH Group $WH GROUP (00288.HK)$ (0288) rose by 0.17 yuan or 1.15%.

Due to renewed tensions in the conflict, gold prices have been hit, falling below 4,600 USD, putting pressure on precious metal stocks. Zijin Mining $ZIJIN MINING (02899.HK)$ Zijin Mining (2899) fell by 1.08 yuan or 3%, closing at 35.32 yuan; Zijin Gold International $ZIJIN GOLD INTL (02259.HK)$ (2259) dropped by 6 yuan or 3.3%, closing at 176.1 yuan; Chifeng Gold $CHIFENG GOLD (06693.HK)$ (6693) declined by 2.36 yuan or 5.3%, closing at 41.88 yuan; SPDR Gold ETF $SPDR Gold Trust (02840.HK)$ (2840) decreased by 53 yuan or 1.6%, closing at 3340 yuan.

The market is actively discussing whether AI computing can be performed with less storage, putting pressure on domestic chip stocks. Shanghai Fudan $SHANGHAI FUDAN (01385.HK)$ (1385) dropped by 2.88 yuan or 7.6%, closing at 35.2 yuan; Biren Technology $BIREN TECH (06082.HK)$ (6082) fell by 2.1 yuan or 6.7%, closing at 29.5 yuan; Huahong Semiconductor $HUA HONG SEMI (01347.HK)$ (1347) declined by 4.3 yuan or 5.1%, closing at 79.35 yuan; SMIC $SMIC (00981.HK)$ (0981) dropped by 1.85 yuan or 3.5%, closing at 51 yuan. Tech stocks weakened across the board. Alibaba $BABA-W (09988.HK)$ (9988) launched Qwen 3.6-Plus, a new large language model, but failed to boost its stock price, falling 4.2 yuan or 3.42% for the day, closing at 118.5 yuan; Xiaomi $XIAOMI-W (01810.HK)$ (1810) fell by 1.14 yuan or 3.56%, closing at 30.88 yuan; Meituan $MEITUAN-W (03690.HK)$ (3690) dropped by 1.7 yuan or 2.07%, closing at 80.25 yuan; Tencent $TENCENT (00700.HK)$ (0700) declined by 7.4 yuan or 1.49%, closing at 489.2 yuan; JD.com $JD-SW (09618.HK)$ (9618) decreased by 1 yuan or 0.9%, closing at 111.9 yuan. AI and large model stocks also weakened, Zhipu $KNOWLEDGE ATLAS (02513.HK)$ (2513) launched the native multimodal Coding base model GLM-5V-Turbo, but its stock price fell today by 136 yuan or 14.86%, closing at 779 yuan; MINIMAX-WP $MINIMAX-W (00100.HK)$ (100) closed at 949.5 yuan, dropping by 110.5 yuan or 10.42%

Pop Mart repurchased shares again for nearly 100 million yuan, but its stock price fell by 3.5 yuan or 2.41%, closing at 141.8 yuan; Sunny Optical $SUNNY OPTICAL (02382.HK)$ (2382) rose another 2.95 yuan or 5.18% after earnings, closing at 59.9 yuan; Longfor Group $LONGFOR GROUP (00960.HK)$ (0960) dropped by 0.29 yuan or 3.67%, closing at 7.62 yuan, making it the worst-performing blue chip of the day.

Pharmaceutical stocks performed strongly against the market trend today, becoming one of the bright spots in the market. Investors hoping to seize opportunities from the rebound in the biotech sector while diversifying individual stock risks may consider the China Asset Hang Seng Hong Kong Biotechnology ETF. $ChinaAMC Hang Seng Biotech ETF (03069.HK)$ (3069), closed at HKD 15.68 today, up by HKD 0.09 or 0.57%. This ETF tracks the Hang Seng Hong Kong-listed Biotech Index and directly holds all constituent stocks of the index. It is the first ETF in Hong Kong that focuses exclusively on purely Hong Kong-listed biotech companies. Its current portfolio consists of approximately 32 to 33 constituent stocks, with the top ten holdings covering Wuxi Bio. $WUXI BIO (02269.HK)$ (2269), BeiGene $BEONE MEDICINES (06160.HK)$ (6160), Akeso $AKESO (09926.HK)$ (9926), Innovent Bio $INNOVENT BIO (01801.HK)$ (1801), and CSPC Pharma $CSPC PHARMA (01093.HK)$ (1093), among other leading Hong Kong biotech firms. Compared to investing in a single biotech stock, holding a basket of constituent stocks through an ETF can effectively diversify the risk of individual stock volatility brought about by specific drug trial results or approval news. Investors should also note that the biotech sector is influenced by new drug approval progress, regulatory policies, and market sentiment, making it more volatile than general sectors. The concentration of the top ten holdings is relatively high, and net asset value may fluctuate significantly. It is suitable for investors who have a certain understanding of the biotech industry and possess corresponding risk tolerance.

@孫子的末代傳人 @中戶變大戶小牛變大牛 @股海GSO

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