Hong Kong stocks fall below 24,000 mark as government pushes forward economic and livelihood measures
Today's financial news became the market focus. Hong Kong's Hang Seng Index fell 271 points in the morning session to close at 24,136, marking the first time it has dropped below the 24,000-point threshold in nearly a year. Among the decliners, Alibaba's share price performed weakly, falling by about five percent. Although the mainland government is planning to build large-scale data centers, financial experts analyze that this national plan may not necessarily have a negative impact on Alibaba's return on investment in the field of artificial intelligence (AI).
Regarding corporate news, Akeso (09926) announced a share purchase plan. The Board of Directors has approved the purchase of up to HK$200 million worth of company shares in the open market. Additionally, the company's chairman and several senior management members also plan to increase their holdings using their own funds, with the total amount expected to reach up to HK$50 million. This move demonstrates the management's full confidence in the company's future development prospects.
On the policy development front, the Legislative Council today discussed a motion on "Promoting the Commodity Trading Ecosystem." Officials from the Financial Services and the Treasury Bureau, the Development Bureau, and the Transport and Logistics Bureau delivered concluding remarks respectively. The government stated that it will start from multiple dimensions, including financial regulation, land planning, and logistics support, to support Hong Kong in building a futures market with physical delivery, further enhancing Hong Kong's competitiveness as an international financial and trade center.
In terms of community development, the Lands Department posted land resumption notices today. The government will resume part of the land in Kwai Chung and establish rights for temporary occupation of land in accordance with relevant ordinances. These lands will be used to construct a pedestrian walkway system connecting Lai King Hill Road to Lai Cho Road. The project aims to improve the local transport network and provide a safer and more convenient walking environment for nearby residents.
Regarding public services and health information, the Department of Health issued a reminder today that the AIDS Hotline (Tel: 2780 2211) under the Centre for Health Protection will undergo system upgrade and maintenance work this Friday night. During the maintenance period, the hotline service will be briefly suspended. Members of the public who need consultation are advised to avoid this period or call again after the service resumes.
In culture and education, the Leisure and Cultural Services Department, in collaboration with the Education University of Hong Kong, will hold the "Music Creative Performance: MO x e-Orchestra" concert. This performance will showcase the fruitful results of the music training program for the 2025-2026 academic year. By combining traditional music with electronic technology, students will demonstrate their talents in music creation and digital orchestra performance, promoting diversified music learning.
Finally, regarding outdoor activity safety, the Leisure and Cultural Services Department announced that red flags have been hoisted at several beaches due to unfavorable weather or sea conditions. The government specifically urged the public not to go swimming while red flags are hoisted to ensure personal safety. Radio and television stations will continue to broadcast the latest beach safety reports, and people planning to go to the seaside are advised to pay close attention.