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Good day, traders!
What you need to know: Hong Kong stocks retreated on Friday, ending a seven-day rally, as investors locked in profits on the final trading day of January after a sharp month-long surge.
The Hang Seng Index fell 0.7 per cent to 27,785.98 at the open, pulling back from a multi-year high. The benchmark has climbed nearly 8.4 per cent this month, its strongest monthly performance since February 2025. The Hang Seng Tech Index dropped 0.9 per cent. On the mainland, the CSI 300 Index declined 0.9 per cent and the Shanghai Composite Index lost 0.6 per cent.
Gold miner Zijin Mining Group fell 3.5 per cent to HK$44.52, aluminium producer China Hongqiao Group lost 3.1 per cent to HK$38.58. Short-video platform Kuaishou Technology declined 2.4 per cent to HK$81 and e-commerce major Alibaba Group Holding retreated 1.9 per cent to HK$170.
Travel-booking platform Trip.com gained 0.5 per cent to HK$484.80 and property developer Sun Hung Kai Properties added 0.3 per cent to HK$125. Oil and gas producer CNOOC gained 1.4 per cent to HK$25.32 and peer PetroChina rose 1.7 per cent to HK$9.55.
New World Development jumped 5.6 per cent to HK$11.75 after it said late on Thursday that its parent, Chow Tai Fook Enterprises (CTFE), had been approached by potential investors. It has been widely speculated that CTFE could sell part of its stake to Blackstone.
One stock debuted. Modular Industrial Automation jumped 222 per cent to 135 yuan in Beijing.
Among other major Asia-Pacific markets, South Korea’s Kospi gained 1.8 per cent, Japan’s Nikkei 225 added 0.3 per cent and Australia’s S&P/ASX 200 climbed 0.1 per cent.
Top HK gainers: New Oriental (9901), Sunny Optical (2382), CMB (3968)
Top HK losers: CSPC (1093), China Hongqiao (1378), Zijin Mining (2899)
Top HK traded: CSPC (1093), PetroChina (857), BOC (3988)
Noteworthy: British-Swedish pharmaceutical giant AstraZeneca said on Thursday it plans to invest US$15 billion in China through 2030, signalling renewed momentum in Sino-UK commercial ties. The investment – the biggest deal announced so far during UK Prime Minister Keir Starmer’s trip to Beijing aimed at strengthening trade ties – will support expanded medicines manufacturing as well as research and development (R&D), the company said in a statement. “Unlocking opportunities for British businesses across the globe and delivering for working people back home is always the driving force behind my international engagements,” Starmer said in the statement, adding that AstraZeneca’s expansion in China would support thousands of UK jobs and reinforce the country’s life sciences sector.
Stories of interest to investors:
* NWD says parent approached by investors after report links Blackstone to sale
* Spirits rise as baijiu shares rally on Lunar New Year demand
* China’s cloud giants race to support Moltbot, the ‘AI that actually does things’
* Gold demand set to stay strong in 2026 as risks persist: World Gold Council
* Alibaba’s T-Head unit unveils details of AI chip designed to rival Nvidia’s GPUs
* China’s ‘gold fever’ sparks US$1 billion scandal as trading platform collapses
* China’s humanoid robot sales to double this year as costs fall: Morgan Stanley
* If you'd like to reach the stocks team, click here.
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