09626 Overview

US Stock Market Performance: US stocks showed mixed results, with the DJIA slightly up by 17 points while the Nasdaq fell by 1.2% due to Nvidia's decline.

Hong Kong Stock Market Opening: The HSI opened 66 points higher after a previous drop, while the HSCEI and HSTECH also saw slight increases in their opening values.

Tech Sector Updates: BIDU-SW reported a 42% YoY decline in non-GAAP net profit, leading to a 5.7% drop in its ADR, while MEITUAN-W postponed its launch in Brazil but opened higher.

Financial Sector Movements: HSBC HOLDINGS and AIA opened higher, while HKEX remained flat, indicating a generally positive trend in the financial sector despite varying short selling ratios.

Lunar New Year Entertainment Trends: Offline entertainment during the Lunar New Year saw a divergence, with tourism consumption increasing by 19% YoY, while the box office dropped to RMB5.7 billion, a 40% YoY decline, attributed to a lack of quality content.

Stock Market Reactions: Recent stock price corrections in companies like Tencent and Kuaishou are noted, with some nearing the low end of their five-year PE ratio ranges, despite expectations for EPS growth in 2026.

Competitive Landscape: Kuaishou and Bilibili are recognized for their strong business foundations and AI potential, while the music and live streaming sectors face heightened competition.

Goldman Sachs Adjustments: Goldman Sachs lowered its expectations for DAMAI ENT due to potential movie losses but anticipates double-digit growth in IP-related merchandise and overall profit margins improving, maintaining a Buy rating with a revised target price.

Live Broadcast Performance: On Chinese New Year's Eve, BILIBILI-W experienced a significant engagement with 133 million bullet comments during the Spring Festival Gala, averaging 7,700 comments per second.

Stock Market Impact: BILIBILI-W's stock price fell by 5.116%, with a short selling amount of $37.26 million and a short selling ratio of 28.970%.

Cultural Significance: The high volume of bullet comments indicates that watching the Spring Festival Gala on BILIBILI-W has become a key tradition for young people during the holiday.

Market Data Note: The stock quote for HK stocks is delayed by at least 15 minutes, and the short selling data is as of February 16, 2026, at 12:25 PM.

Market Overview: The HSI opened 1.5% lower at 26,640, with significant declines in tech stocks such as TENCENT and KUAISHOU, which dropped 1.7% and 1.9% respectively.

Short Selling Activity: Notable short selling was observed in several tech stocks, including BIDU and BILIBILI, with ratios exceeding 20%, indicating bearish sentiment among investors.

PPI Data: China's Producer Price Index (PPI) YoY for January showed a decline of 1.4%, slightly better than the previous value of -1.9% and above the forecast of -1.5%.

AI Stock Rally: The AI sector saw gains with MINIMAX-WP rising 11.9% after launching a new programming model, while KNOWLEDGE ATLAS also experienced a significant increase of 16.9%.

Market Performance: The HSI closed at 27,032, down 233 points (0.9%), with significant declines in the HSCEI and HSTECH, while total market turnover reached HKD238.705 billion.

Company Earnings: BUD APAC was the worst-performing blue-chip stock, down 5.2% after reporting a 32.6% drop in net profit. Other companies like Lenovo and NetEase also saw declines despite some reporting increased profits.

Regulatory Actions: The Beijing Municipal Market Supervision Bureau engaged with 12 online ticket sales platforms, resulting in declines for companies like Trip.com and Meituan, which fell 3.9% and 4.5%, respectively.

AI Sector Growth: Following Premier Li Qiang's call for AI innovation, AI stocks like SenseTime and Knowledge Atlas saw significant gains, with Knowledge Atlas soaring 28.7% after launching a new product.

Market Performance: Hong Kong stocks faced a decline, with the HSI dropping 242 points (0.9%) to 27,023, while the HSCEI and HSTECH also fell by nearly 1% and 1.7%, respectively.

Tech Stocks Struggles: Major tech companies like NTES, BABA, and TENCENT saw significant drops in their share prices, with NTES down 3.8% and BABA down 2.1%, amid disappointing earnings reports and ongoing investment strategies.

Chinese Developers' Gains: Some Chinese developers, including CHINA VANKE and RONSHINECHINA, experienced gains due to reports of a potential RMB80 billion rescue package from the Shenzhen municipal government.

WUXI APPTEC's Success: WUXI APPTEC emerged as the best-performing blue chip, rising nearly 4% after Nomura raised its revenue expectations and target price, indicating strong future performance.