starburstfreeplay| Midday review: Hong Kong stocks and Hang Seng Index rose 1.59% Hang Seng Index rose 1.59% Cosco Group soared more than 28%

May 16 newsstarburstfreeplay, the three major Hong Kong stock indexes opened higher and moved higher. As of the close of noon, the Hang Seng Index rose 1.5%.starburstfreeplay.59%, reported at 19,376starburstfreeplayAt.79 points, the Hang Seng Technology Index rose 1.59%, and the State-owned Enterprise Index rose 1.82%. On the market, science and technology stocks generally rose, Tencent rose more than 4%, Meituan rose more than 3%, and Jingdong rose more than 2%. The property market ushered in intensive positive results, and domestic housing stocks collectively rose. Shimao Group soared more than 48%. Property management stocks and building materials and cement stocks strengthened accordingly; major financial sectors such as banking and insurance rose strongly, with China Merchants Bank and China Construction Bank rising more than 5%, and China Taiping rising more than 6%. U.S. tariffs on electric vehicles to China rose to 100%, and lithium batteries and automobile stocks fell against the trend; Guolian Securities fell more than 8%.

The property market has ushered in intensive benefits, and domestic housing stocks have collectively surged. On the news front, under the background of the Politburo meeting proposing to "optimize incremental housing," many cities have recently introduced new regulations to reduce pool area; in addition, the Housing and Urban-Rural Development Bureau of Lin 'an District of Hangzhou City recently issued an announcement that after research by the Lin' an District People's Government, it has decided to purchase a batch of commercial housing for public rental housing; Earlier yesterday, a piece of news went viral in the market saying that "China is considering the government purchasing unsold housing."

Tencent's share price once stood at the HK$400 mark after its performance. In terms of news, Tencent's revenue in the first quarter increased by 6% year-on-year to 159.501 billion yuan, and adjusted net profit increased by 54% year-on-year to 50.265 billion yuan; specifically, among Tencent's three core business segments, online advertising revenue was 26.506 billion yuan, a year-on-year increase of 26.44%, financial technology and corporate services revenue was 52.302 billion yuan, a year-on-year increase of 7.39%, and value-added services revenue was 78.629 billion yuan, a slight decrease of 0.89% year-on-year.

Lithium battery and automobile stocks fell against the trend. The Biden administration of the United States decided to impose additional tariffs on US$18 billion in goods imported from China, including an increase in the tariff rate on electric vehicles from 25% to 100%.

Individual stocks in the WuXi family generally rose, with WuXi Biotech rising more than 3%. In the news, on the evening of May 15, Beijing time, the House Oversight and Accountability Committee voted on-site to approvestarburstfreeplayThe Biosafety Law has been passed and the next legislative process has been entered. The new version of the bill requires that the immunity of existing contracts/products of the companies involved be extended to January 1, 2032, which requires U.S. companies to end cooperation with companies involved in the bill before 2032, which means that WuXi AppTec and other related companies will receive an eight-year buffer period for business in the United States.