Hong Kong's three major stock indices collectively advanced in morning trading. By the midday close, the Hang Seng Index had increased by 1.14% to 25,756.27 points, the Hang Seng Tech Index rose by 2.24%, and the HSCEI was up 1.28%. Across the market, technology and internet stocks broadly gained, with Xiaomi rising over 4%, Meituan up more than 3%, and Tencent, Bilibili, NetEase, and JD.com all increasing over 2%. New consumer concept stocks saw an uptick, with Buluke climbing more than 8%. Lithium battery stocks were among the top performers, with CATL advancing over 4%. Most AI application stocks traded higher, with KNOWLEDGE ATLAS surging more than 10%. In contrast, gold stocks declined, with Chifeng Gold falling over 6%.
New consumer concept stocks moved upward, with Buluke gaining over 8%. Buluke reported its annual results, showing revenue of approximately 29.13 billion yuan, a 30% year-on-year increase. Gross profit reached about 13.64 billion yuan, up 15.7% year-on-year. Profit attributable to owners of the parent company was approximately 634 million yuan, turning around from a loss in the previous year. Basic earnings per share were 2.58 yuan.
Lithium battery stocks led the gains, with CATL rising over 4%. CATL had previously announced its 2025 results, achieving operating revenue of 423.702 billion yuan, a 17.04% year-on-year increase. Net profit reached 72.201 billion yuan, up 42.28% year-on-year. The company also disclosed a substantial dividend plan, with total cash dividends for 2025 amounting to approximately 36.1 billion yuan, representing 50% of its net profit attributable to parent company owners.
Most AI application stocks advanced, with KNOWLEDGE ATLAS jumping over 10%. On the evening of March 15, KNOWLEDGE ATLAS announced via its overseas official Twitter account the upcoming release of the Lobster large model GLM-5-Turbo. This is the world's first general-purpose large model deeply optimized specifically for the OpenClaw scenario. Its performance in the OpenClaw scenario shows significant improvement compared to GLM-5 and leads several mainstream models across multiple key tasks. KNOWLEDGE ATLAS had previously launched AutoClaw, the first truly one-click installable local version of OpenClaw in the domestic market.
Gold stocks experienced a downturn, with Chifeng Gold dropping over 6%. Since the Iran conflict erupted two weeks ago, gold prices have fallen instead of rising, declining approximately 6% compared to pre-conflict levels. J.P. Morgan commented that gold being "sold off indiscriminately" during the initial surge in market stress is a well-documented historical pattern, not a signal of its safe-haven function failing. The institution further noted that the current gold sell-off is driven by multiple overlapping factors: soaring energy prices pushing up inflation expectations, prompting markets to significantly lower expectations for Federal Reserve rate cuts, combined with a rapid rebound in the US dollar, creating a directly bearish backdrop in the near term.
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