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ASIA STOCKS: China & HK Equities Mixed As China Returns From LNY

ASIA STOCKS
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As China returns from LNY markets are trading mixed. The CSI 300 is trading 0.20% lower, while small-cap indices are performing better with the CSI 1000 & 2000 trading about 1% higher. Hong Kong listed equities are performing worse with the HSI down 1.20%, HS Tech Index is -1.60%, while the Mainland Property Index trade -1.30%.

  • Chinese Travel & Tourism: Airline and travel stocks declined, with China Southern and Air China down ~4%, and Trip.com falling ~5%. However, regional tourism data was positive—Guangdong saw 80m visitors with ¥74b in tourism revenue (+7.5% YoY), Shanghai had 17.8m tourists (+6.1% YoY), and Beijing's retail sales from restaurants and stores hit ¥8.1b (+4.2% YoY).
  • E-commerce & Logistics Hit by US Postal Suspension: Alibaba fell 2.1%, JD.com dropped 5.1%, and SF Holding declined as the US halted inbound parcels from China & Hong Kong, adding uncertainty to the sector.
  • Sector-Specific Moves: Tungsten stocks gained 3%+ after China imposed export controls, while genetic sequencing firms rose after Beijing blacklisted US company Illumina. AI-related stocks surged, with Iflytek up 8.5%, TRS Information rising 20%, and Beijing Kingsoft up 18%.
  • Hong Kong Selling Pressure: The Hang Seng China Index fell 1.8%, with HK$2b ($257m) in mainland investor selling. Maoyan Entertainment dropped 14% despite record Chinese New Year box office numbers, while Enlight Media surged 20%.
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As China returns from LNY markets are trading mixed. The CSI 300 is trading 0.20% lower, while small-cap indices are performing better with the CSI 1000 & 2000 trading about 1% higher. Hong Kong listed equities are performing worse with the HSI down 1.20%, HS Tech Index is -1.60%, while the Mainland Property Index trade -1.30%.

  • Chinese Travel & Tourism: Airline and travel stocks declined, with China Southern and Air China down ~4%, and Trip.com falling ~5%. However, regional tourism data was positive—Guangdong saw 80m visitors with ¥74b in tourism revenue (+7.5% YoY), Shanghai had 17.8m tourists (+6.1% YoY), and Beijing's retail sales from restaurants and stores hit ¥8.1b (+4.2% YoY).
  • E-commerce & Logistics Hit by US Postal Suspension: Alibaba fell 2.1%, JD.com dropped 5.1%, and SF Holding declined as the US halted inbound parcels from China & Hong Kong, adding uncertainty to the sector.
  • Sector-Specific Moves: Tungsten stocks gained 3%+ after China imposed export controls, while genetic sequencing firms rose after Beijing blacklisted US company Illumina. AI-related stocks surged, with Iflytek up 8.5%, TRS Information rising 20%, and Beijing Kingsoft up 18%.
  • Hong Kong Selling Pressure: The Hang Seng China Index fell 1.8%, with HK$2b ($257m) in mainland investor selling. Maoyan Entertainment dropped 14% despite record Chinese New Year box office numbers, while Enlight Media surged 20%.