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Hong Kong-listed chip stocks opened lower, with Shanghai Fudan (01385.HK) falling over 4%, followed by declines in other stocks such as Hua Hong Semiconductor (01347.HK), GigaDevice (03986.HK), SMIC (00981.HK), ZTE (00763.HK), and Biren Technology (06082.HK). Innoscience (02577.HK) bucked the trend, rising over 6%.
February 4th - Tencent Wealth Management's current account + 7-day annualized yield ranges from a high of 1.5680% to a low of 0.8530%, WeChat Pay's 7-day annualized yield ranges from a high of 1.1840% to a low of 1.0260%, and Alipay's Yu'ebao's 7-day annualized yield ranges from a high of 1.2490% to a low of 1.0160%.
Hong Kong-listed tech stocks have been declining for several days, with BOSS Zhipin (02076.HK) falling over 3%, Trip.com Group-S (09961.HK) falling over 2%, and Bilibili (09626.HK), Tencent Holdings (00700.HK), Kuaishou (01024.HK), Meituan (03690.HK), Baidu (09888.HK), Alibaba (09988.HK) and other stocks following suit.
February 4th - Oil prices rose in early Asian trading due to heightened tensions between the US and Iran. The US shot down an Iranian drone that was targeting the USS Abraham Lincoln aircraft carrier. CBA's Vivek Dhar stated in a report that this confrontation has exacerbated market concerns about a further conflict between the US and Iran, potentially disrupting Middle Eastern oil supplies. The analyst added that while negotiations between the US and Iran are scheduled to begin on Friday, President Trump's previous threats that "bad things will happen" if no agreement is reached on Iran's nuclear program have provided support for risk premiums.
Hong Kong stocks in the non-ferrous metals sector rallied in early trading, with China Nonferrous Mining (01258.HK) rising nearly 7%, Shandong Gold (01787.HK) up over 3%, Jiangxi Copper (00358.HK) up over 3%, and other stocks such as Minmetals Resources (01208.HK), Luoyang Molybdenum (03993.HK), China Gold International (02099.HK), and Zijin Mining (02899.HK) following suit.
Hong Kong stocks opened lower, with the Hang Seng Index down 0.14% and the Hang Seng Tech Index down 0.87%. Non-ferrous metals led the gains, while optical communications continued its upward trend. Innoscience (02577.HK) rose more than 11% after the company completed the important design integration of its products into Google's AI hardware platform and signed a compliant supply agreement.
On Wednesday, February 4, the Hong Kong Hang Seng Index opened down 37.72 points, or 0.14%, at 26,797.05; the Hang Seng Tech Index opened down 47.33 points, or 0.87%, at 5,419.93; the H-share Index opened down 13.45 points, or 0.15%, at 9,039.66; and the Red Chip Index opened up 25.39 points, or 0.59%, at 4,315.69.
The People's Bank of China (PBOC) announced today that it conducted 75 billion yuan of 7-day reverse repurchase operations, with a bid volume of 75 billion yuan and a winning bid volume of 75 billion yuan. The operation rate was 1.40%, unchanged from the previous rate.
Hang Seng Index futures opened down 0.34% at 26,728 points, a discount of 107 points.
The main Shanghai silver futures contract surged 8.00% intraday, currently trading at 22,855.00 yuan/kg.
The main platinum futures contract rose more than 4.00% intraday, currently trading at 586.05 yuan/gram.
Market news: New York and New Jersey are seeking emergency aid in response to plans to suspend construction on Friday.
Market news: New York and New Jersey have filed a lawsuit against President Trump for his decision to withhold $16 billion in tunnel project funds.
A chart summarizing the overnight price movements of international spot platinum and palladium.
February 4th, Futures News: Oil prices rebounded after a drop, gasoline and diesel shipments were acceptable, fuel oil news was positive, and supply and demand factors showed that holiday stockpiling demand supported market demand, which boosted refineries' confidence to increase volume and support prices. It is expected that fuel oil trading will remain stable in some areas today, while some will still see a slight rebound.
Shenzhen Stock Exchange: The list of securities eligible for the Hong Kong Stock Connect has been adjusted, with Guoneng Technology added, effective February 4.
Japan's final services PMI for January was 53.7, down from 53.4 in the previous month.
Japan's final composite PMI for January was 53.1, compared to 52.8 in the previous month.
On February 4th, a research report from CITIC Securities stated that the "Value-Added Tax Law of the People's Republic of China" and its "Implementation Regulations" will officially come into effect on January 1, 2026. Currently, there are no adjustments to tax rates for internet companies. On the other hand, the management measures for the recognition of high-tech enterprises may be updated. If the recognition standards become stricter, some non-leading internet companies may find it difficult to enjoy preferential income tax rates. The current main theme of tax policy remains focused on supporting technological innovation.
The UK's National Institute of Economic and Social Research (NIESR) predicts the Bank of England will cut its key interest rate twice this year to a "neutral" level of 3.25%.
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