Goldman Sachs Research Report: Goldman Sachs conducted a series of online meetings with various Chinese automotive companies, including major OEMs and suppliers, to discuss the outlook for the auto industry in 2026.

Focus on Overseas Expansion: Executives emphasized the need for accelerated overseas expansion, with plans for new models and local sales channels, while GWMOTOR noted limited price competition in most overseas markets except Thailand.

Profit Pool Contraction: The report anticipates a contraction in China's domestic auto profit pool by 2026, although overseas markets are expected to see growth in new energy vehicles (NEVs).

Stock Ratings: Goldman Sachs rated BYD and XPENG as "Buy" due to their potential to benefit from increased sales in overseas markets, despite overall challenges in the domestic market.

Market Performance: The Hang Seng Index (HSI) fell by 309 points (1.2%) to close at 26,149, with significant declines also seen in the Hang Seng Tech Index (HSTI) and the Hang Seng China Enterprises Index (HSCEI).

Active Heavyweights: Major stocks like Meituan, Alibaba, and Tencent experienced notable declines, with short selling ratios indicating increased market activity against these stocks.

Notable Declines: Lenovo Group and Sands China Ltd saw significant drops of 5.6% and 4.5% respectively, while several other companies also reported losses, reflecting a bearish trend in the market.

Gainers in the Market: Despite the overall decline, some stocks like SHK PPT and CK Asset recorded gains, with CK Asset hitting a new high, indicating pockets of resilience in the market.

Market Performance: The Hang Seng Index (HSI) fell by 322 points (1.2%) to 26,136, while the Hang Seng Tech Index (HSTI) and the Hang Seng China Enterprises Index (HSCEI) also experienced declines.

Active Heavyweights: Major stocks like Meituan, Xiaomi, Tencent, Alibaba, and Ping An saw significant drops in their share prices, with Meituan leading the decline at -2.8%.

Notable Declines: Lenovo Group, Zhongsheng Holdings, Sands China, Baidu, Tingyi, and Sunny Optical all reported substantial losses, with Lenovo Group down 5.4%.

Gainers in the Market: CK Asset, CKI Holdings, and CLP Holdings recorded slight gains, with CK Asset hitting a new high, while Shineway Pharm and BOC Aviation also saw increases in their stock prices.

Market Performance: The Hang Seng Index (HSI) rose by 363 points (1.4%) to close at 26,710, with significant gains also seen in the HSTI and HSCEI, while market turnover reached $291.76 billion.

Active Heavyweights: Notable stock movements included PING AN (+5%), HKEX (+2.9%), and TENCENT (+1.3%), while XIAOMI and BABA saw declines of 1.5% and 1.3%, respectively.

Top Gainers: Among HSI and HSCEI constituents, CHINAHONGQIAO surged by 6.1%, JD HEALTH by 5.4%, and ZIJIN MINING by 4.5%, with several stocks hitting new highs.

Significant Movers: In the HSMI & HSSI, JF SMARTINVEST jumped by 18.8%, CMSC by 12%, and NANSHAN AL INTL by 10.8%, indicating strong performance in smaller stocks.

Market Performance: The Hang Seng Index (HSI) rose by 468 points (1.8%) to 26,815, while the Hang Seng Tech Index (HSTI) increased by 126 points (2.2%) to 5,868, and the Hang Seng China Enterprises Index (HSCEI) gained 147 points (1.6%) to 9,296.

Top Gainers: Notable gainers included PING AN (+5.1%), HKEX (+2.7%), and TENCENT (+2.1%), with PING AN reaching a new high at $72.1.

Significant Movements: CHINAHONGQIAO and JD HEALTH saw substantial increases of 6.4% and 6.1%, respectively, with CHINAHONGQIAO also hitting a new high at $35.34.

Short Selling Activity: High short selling ratios were observed in several stocks, including XIAOMI (25.9%) and KUAISHOU-W (13.4%), indicating significant market interest in these companies.