The Hang Seng Index rose only 75 points. The innovative drug policy drove pharmaceutical stocks higher across the board, while AI large model stocks saw profit-taking at highs. The outcome of US-Iran negotiations may impact Bitcoin price fluctuations; keep an eye on the ChinaAMC Bitcoin ETF.

The market expects a new round of US-Iran talks to resume within the next two days. Trump stated that the conflict with Iran is nearing its end, and overnight oil prices dropped significantly. Asia-Pacific stock markets generally followed the rebound in US stocks. The Hang Seng Index opened 295 points higher, with gains expanding further to 344 points in early trading, reaching as high as 26,216 points. However, selling pressure above 26,000 was significant, and with mainland Chinese stocks weakening in the afternoon, the Hang Seng Index reversed course and closed at its lowest point of the day at 25,947 points, up just 75 points or 0.29%, with a turnover of HKD 245.5 billion. The Hang Seng Tech Index closed at 4,911 points, up 59 points or 1.23%; the China Enterprises Index closed at 8,718 points, up 46 points or 0.54%. Among blue-chip stocks, 48 rose, 40 fell, and 2 remained unchanged. Southbound capital net inflow was RMB 4.222 billion.

The State Council today announced 14 measures to improve the pricing mechanism for pharmaceuticals and optimize the initial pricing mechanism for innovative drugs. A major investment bank noted that these measures will benefit innovative pharmaceutical companies, driving the entire pharmaceutical sector higher. Innovent Bio $INNOVENT BIO (01801.HK)$ (1801) rose HKD 5.1 or 5.91%, closing at HKD 91.4, making it one of the best-performing blue chips of the day; CSPC Pharma $SBP GROUP (01177.HK)$ (1177) rose by 0.34 yuan or 5.83%, closing at 6.17 yuan; 3SBio $3SBIO (01530.HK)$ (1530) rose by 1.88 yuan or 8.16%; RemeGen $REMEGEN (09995.HK)$ (9995) rose by 9.9 yuan or 9.13%; ImmuneOnco Biopharmaceuticals $DUALITYBIO-B (09606.HK)$ (9606) rose by 31 yuan or 10.81%; Akeso Inc. $AKESO (09926.HK)$ (9926) rose by 9.5 yuan or 6.89%; Kelun-Biotech $SKB BIO (06990.HK)$ (6990) rose by 33.8 yuan or 6.97%, closing at 519 yuan; XtalPi Holdings $XTALPI (02228.HK)$ (2228) rose by 0.45 yuan or 4.65%, closing at 10.13 yuan; BeiGene $BEONE MEDICINES (06160.HK)$ (6160) rose by 5.6 yuan or 3.03%, closing at 190.5 yuan; CSPC Pharma $CSPC PHARMA (01093.HK)$ (1093) rose by 0.28 yuan or 3.06%, closing at 9.44 yuan; Hansoh Pharma $HANSOH PHARMA (03692.HK)$ (3692) rose by 1 yuan or 2.6%, closing at 39.4 yuan.

Tech stocks generally performed well today, with Alibaba $BABA-W (09988.HK)$ (9988) announcing that its subsidiary Gaode will soon release a quadruped robot. At the same time, Alibaba Cloud announced price adjustments for multiple DDoS protection products starting in July. The Qwen AI glasses S1 also began selling in stock. The stock price rose 4.1 yuan or 3.29% for the day, closing at 128.6 yuan; JD.com $JD-SW (09618.HK)$ (9618) received an upgrade in target price by nearly 50% from major investment banks and was raised to an 'outperform' rating. It is expected that core profit margins will expand in the first quarter. The stock price rose 5.3 yuan or 4.59%, closing at 120.7 yuan; JD Industrial $JD INDUSTRIALS (07618.HK)$ (7618) rose 0.71 yuan or 4.97%, closing at 15 yuan, hitting a new historical high; JD Health $JD HEALTH (06618.HK)$ (6618) rose 1.52 yuan or 3.2%, closing at 49.06 yuan; Baidu $BIDU-SW (09888.HK)$ (9888) rose 3.4 yuan or 3.06%, closing at 114.5 yuan; Tencent $TENCENT (00700.HK)$ (0700) rose 5.8 yuan or 1.18%, closing at 499 yuan; Meituan $MEITUAN-W (03690.HK)$ (3690) rose 1.2 yuan or 1.41%, closing at 86.3 yuan; Kuaishou $KUAISHOU-W (01024.HK)$ (1024) rose 1.02 yuan or 2.29%; Bilibili (9626) rose 4.2 yuan or 2.22%, closing at 193.7 yuan; Trip.Com $TRIP.COM-S (09961.HK)$ (9961) rose 12.8 yuan or 3.22%, closing at 410.4 yuan; HKEX $HKEX (00388.HK)$ (0388) rose by 6.8 yuan or 1.67%, closing at 414 yuan.

Chip stocks continued their strong performance, with TianShu ZhiXin $ILUVATAR COREX (09903.HK)$ (9903) rising by 26.4 yuan or 7.66%, closing at 371 yuan; BiReng Technology $BIREN TECH (06082.HK)$ (6082) increasing by 2.38 yuan or 6.58%, closing at 38.58 yuan; SMIC $SMIC (00981.HK)$(0981) gained 1.35 yuan or 2.33%, closing at 59.3 yuan; HuaHong Semiconductor $HUA HONG SEMI (01347.HK)$ (1347) climbed 0.15 yuan or 0.17%, closing at 90.4 yuan. In contrast, recently surging AI large model stocks saw profit-taking today, with Zhipu $KNOWLEDGE ATLAS (02513.HK)$ (2513) falling by 81 yuan or 8.54%, closing at 867 yuan; MINIMAX $MINIMAX-W (00100.HK)$ (0100) dropping by 103.5 yuan or 10.88%, closing at 847.5 yuan; XunCe $XUNCE (03317.HK)$ (3317) declining by 29 yuan or 8.5%, closing at 312.8 yuan; Unisound $UNISOUND (09678.HK)$ (9678) retreating by 41.8 yuan or 11.18%, closing at 332.2 yuan; Changfei Optical Fiber $YOFC (06869.HK)$ (6869) fell by 10.8 yuan or 4.99%, closing at 205.6 yuan.

With the continued decline in oil prices, oil stocks were under pressure across the board, with PetroChina $PETROCHINA (00857.HK)$ (0857) falling by 0.33 yuan or 3.03%, closing at 10.58 yuan; CNOOC $CNOOC (00883.HK)$ (0883) fell by 0.38 yuan or 1.43%, closing at 26.22 yuan; Sinopec $SINOPEC CORP (00386.HK)$ (0386) dropped by 0.08 yuan or 1.7%, closing at 4.54 yuan; Shandong Molong $SHANDONG MOLONG (00568.HK)$ (0568) fell by 0.29 yuan or 3.4%, closing at 8.36 yuan. However, the expectation of falling oil prices benefited airline stocks, with Cathay Pacific $CATHAY PAC AIR (00293.HK)$ (0293) rising by 0.23 yuan or 2%, closing at 11.82 yuan; Air China $AIR CHINA (00753.HK)$ (0753) rose by 0.11 yuan or 2.3%, closing at 4.98 yuan; China Southern Airlines $CHINA SOUTH AIR (01055.HK)$ (1055) rose by 0.07 yuan or 1.7%, closing at 4.21 yuan; China Eastern Airlines $CHINA EAST AIR (00670.HK)$ (0670) rose by 0.14 yuan or 3.7%, closing at 3.94 yuan.

In other stock movements, Laopu Gold $LAOPU GOLD (06181.HK)$ (6181) was the top gainer among blue chips today, rising 43 yuan or 6.83% to close at 673 yuan; China Gold International $CHINAGOLDINTL (02099.HK)$ (2099) rose 6.7 yuan or 3.7%, closing at 188 yuan; Jiangxi Copper $JIANGXI COPPER (00358.HK)$ (0358) gained 1.18 yuan or 3.11%, closing at 39.18 yuan; Pop Mart $POP MART (09992.HK)$ (9992) increased by 1.9 yuan or 1.18%, closing at 163.3 yuan; MTR Corporation $MTR CORPORATION (00066.HK)$ (0066) received an upgrade from a major bank to 'Overweight', with its share price rising 0.94 yuan or 2.84%, closing at 34 yuan; CITIC Ltd. $CITIC (00267.HK)$ (0267) rose 0.1 yuan or 0.77%, closing at 13.07 yuan, reaching a new all-time high; Bank of China $BANK OF CHINA (03988.HK)$ (3988) gained 0.02 yuan or 0.39%, closing at 5.13 yuan, also hitting a new high; New Oriental Education $NEW ORIENTAL-S (09901.HK)$ (9901) fell 2.66 yuan or 5.94%, closing at 42.12 yuan, making it the worst-performing blue chip for the day.

Auto stocks weakened, BYD $BYD COMPANY (01211.HK)$ (1211) dropped by 2.1 yuan or 1.92%, closing at 107.3 yuan; Geely Auto $GEELY AUTO (00175.HK)$ (0175) fell by 0.8 yuan or 3.22%, closing at 24.04 yuan; Li Auto $LI AUTO-W (02015.HK)$ (2015) declined by 2.1 yuan or 2.88%, closing at 70.9 yuan; Lithium miner Tianqi Lithium $TIANQI LITHIUM (09696.HK)$ (9696) dropped by 2.85 yuan or 5.03%, falling to 53.85 yuan; Ganfeng Lithium $GANFENGLITHIUM (01772.HK)$ (1772) fell by 4.1 yuan or 4.97%, closing at 78.45 yuan.

Following the news of the resumption of peace talks between the US and Iran, geopolitical tensions have significantly eased, driving a rebound in market risk appetite. Bitcoin (BTC) demonstrated strong V-shaped reversal momentum, currently stabilizing above the $74,000 mark. Venture capitalist Tim Draper further boosted bullish sentiment by predicting that Bitcoin will surge to $250,000 within 18 months. Investors looking to participate in the rise of crypto assets may consider the ChinaAMC Bitcoin ETF $ChinaAMC Bitcoin ETF (03042.HK)$ (3042), one of Hong Kong's first spot Bitcoin ETFs, which directly holds Bitcoin. The management fee is 0.99% annually, with multi-currency counters available for capital allocation. As of April 14, its asset size was approximately $194 million, closing today at 8.995 yuan, down 0.11 yuan or 1.208%. However, investors should note that Bitcoin is highly volatile, and the market is closely watching potential impacts such as the BIP-361 quantum security proposal. It is recommended to manage risks carefully when planning investments.

@孫子的末代傳人 @中戶變大戶小牛變大牛 @股海GSO

785K Views