Today's News Summary: Financial Secretary Visits Paris, HK Stock Market Fluctuations, and Local Livelihood Dynamics
Financial Secretary Paul Chan Mo-po continued his visit to Paris, France. He attended an international conference hosted by France to discuss the prevention of financing for terrorist acts. This visit aims to strengthen cooperation between Hong Kong and the international community in financial security and to introduce Hong Kong's latest developments to the world.
Regarding financial markets, US stock performance was dampened by external crisis risks. The Hong Kong stock market opened lower today, with the Hang Seng Index falling by 88 points. Although Hong Kong stocks are struggling to maintain the "bull-bear line," the market currently lacks significant rebound momentum. Furthermore, China's Loan Prime Rate (LPR) remained unchanged, which also affected the opening performance of mainland property stocks.
Individual stock performances were mixed. KE Holdings announced a 47% year-on-year increase in first-quarter net profit, driving its share price up by 7% at the opening. Conversely, although Hesai Technology turned a profit in the first quarter, its share price fell by more than 8% after the results were announced due to market expectations of slowing revenue growth in the second quarter.
Two new stocks were listed today with starkly different performances. Topu CNC had a strong opening, with its share price rising more than 40% above the offer price, earning over HK$1,000 per lot. However, despite being very popular during the subscription period, Uisee Technology fell below its issue price on its first day of listing, dropping by more than 7% and disappointing many investors.
In local government affairs, the Legislative Council today discussed a proposal to add historical explanations to street signs. Secretary for Culture, Sports and Tourism, Rosanna Law, provided a written reply, exploring how to introduce Hong Kong's history and culture to citizens and tourists through street signs to increase the attractiveness of the streets.
Regarding livelihood news, the Leisure and Cultural Services Department announced today that red flags have been hoisted at several beaches due to large waves or water quality issues. The authorities reminded the public not to swim at these beaches for safety reasons and to pay attention to the latest reports from radio and television stations.
Finally, the police announced the implementation of special traffic measures in Happy Valley today to coincide with the horse racing day. These measures will continue until the end of the races and until the audience has left and traffic returns to normal. Motorists and the public are advised to take note of the local traffic arrangements and follow the instructions of police officers on-site.