Stock Performance Overview: Various stocks including AIA, Alibaba, and BYD showed mixed performance with AIA and Alibaba experiencing gains, while SMIC saw a decline.

Short Selling Data: Significant short selling activity was noted across multiple stocks, with BYD and SHK PPT having the highest short selling ratios at 34.941% and 35.602%, respectively.

Investment Ratings: Analysts have given "Buy" ratings to several companies including Alibaba, BOC Hong Kong, and Trip.com, while AIA is rated as "Hold."

Market Insights: JPMorgan estimates Alibaba's T-Head valuation to be between US$25-62 billion, indicating that a spinoff and separate listing is unlikely this year.

Top Inflows: Guosen Securities reported the top ten Hong Kong stocks with the largest foreign capital inflows in 4Q25, led by INNOVENT BIO with an inflow of HKD6.43 billion.

Top Outflows: The report also highlighted the top ten stocks with the largest foreign capital outflows, with XIAOMI-W experiencing the highest outflow of HKD50.41 billion.

Short Selling Data: The report included short selling data for each stock, indicating significant short selling activity, particularly for XIAOMI-W and HSBC HOLDINGS.

Market Trends: The report reflects ongoing trends in the Hong Kong stock market, with notable shifts in foreign investment and short selling strategies among major companies.

Market Performance: The Hang Seng Index (HSI) fell by 281 points (1.0%) to close at 26,563, while the Hang Seng Tech Index (HSTI) and the Hang Seng China Enterprises Index (HSCEI) also experienced declines, with market turnover reaching $225.69 billion.

Active Heavyweights: Major stocks like Alibaba, Xiaomi, Meituan, Tencent, and Ping An saw declines, with Alibaba dropping 3.5% to $160.4 and Xiaomi down 1.7% to $36.48, amidst significant short selling activity.

Notable Movers: Sino Biopharma and Wuxi Biologics faced substantial losses, with declines of 6.2% and 4.8% respectively, while Sinopec Corp and Li Ning recorded gains, with Sinopec up 3.3% to $4.95.

High Volatility Stocks: Qunabox Group surged by 38.8% to $35, while Hao Tian International plummeted by 22.3% to $0.101, indicating significant volatility in smaller stocks within the market.

Market Overview: The HSI fell 1% to 26,579, with the HSCEI down 0.9% and the HSTECH decreasing by 1.1%, resulting in a total half-day turnover of $132.94 billion.

AI Stocks Performance: XTALPI saw a gain of 3.4%, while KINGSOFT CLOUD, INSILICO, GDS-SW, and UNISOUND experienced declines ranging from 2.7% to 5.6%.

Power Equipment Stocks: DONGFANG ELEC and HARBIN ELECTRIC both rose significantly, with increases of 6.6% and 7.3%, respectively, despite the overall market trend.

Pharmaceutical Sector Decline: Several pharmaceutical stocks, including SINO BIOPHARM and 3SBIO, faced declines of 4.6% to 6.1%, with WUXI APPTEC also dropping by 2.8%.

Investor Focus: During the 2026 Greater China Conference, investors concentrated on INNOVENT BIO's sales performance and R&D progress, particularly for its candidate IBI363 developed with Takeda Pharmaceutical.

Sales Confidence: INNOVENT BIO expressed confidence in achieving significant sales in 2025, targeting RMB20 billion in product sales by 2027, while also committing to advancing five candidates into global trials by 2030.

Market Analysis: UBS released a report rating INNOVENT BIO as a Buy, with a target price set at $137.4, reflecting optimism about the company's future performance.

Short Selling Data: The company experienced short selling of $231.31 million, with a short selling ratio of 19.38%, indicating some investor skepticism despite the positive outlook.