HK Stocks Morning Report | Central Bank Sends Important Signal: 18 A-Shares Plan to List in Hong Kong This Month

Cailian Press, September 29 (edited by Tong Gu) Important information for the morning session of the Hong Kong stock market includes:

[The White House: Latest Pharmaceutical Tariffs Do Not Apply to Countries That Have Reached Trade Agreements with the US]

The White House announced on September 26 local time that the latest tariff measures on pharmaceuticals do not apply to countries that have reached trade agreements with the United States. On September 25, US President Trump announced on his social media platform Truth Social that, starting from October 1, the US will impose a 100% tariff on patented and branded drugs.

[Central Bank: It is Recommended to Strengthen Monetary Policy Control in the Next Phase, Enhancing Forward-Looking Nature, Targeting Precision, and Effectiveness]

The Monetary Policy Committee of the People’s Bank of China held its third-quarter meeting for 2025. The meeting discussed the main ideas for monetary policy in the next phase, recommending strengthened monetary policy control and improvements in forward-looking nature, targeting precision, and effectiveness. The meeting pointed out that it is necessary to make good use of the swap facilities for securities, funds, and insurance companies, as well as relending for stock repurchases and share increases, exploring regular institutional arrangements to maintain stability in the capital markets.

[This Month, 18 A-Share Listed Companies Are Planning to List on the Hong Kong Stock Exchange]

Recently, the trend of A-share companies listing on the Hong Kong Stock Exchange has continued. According to incomplete statistics, as of September 28, 18 A-share listed companies including Wufangzhai, BrightGene Bio-Medical, Hailan Home, Hailiang Co., Ltd., iFlytek, Dongshan Precision Manufacturing, OlymBio, Biwin Storage Technology, Taotao Vehicles, WUS Printed Circuit, Longtech Corporation, Qianli Technology, Beta Pharma, Leo Group, RoboSense Technologies, Amlogic, XGIMI Technology, and GCI Science & Technology have disclosed plans to list in Hong Kong this September. Among them, on September 23, Dongshan Precision Manufacturing announced its intention to issue H shares and list on the Hong Kong Stock Exchange.

[US Core PCE Price Index Grew by 2.9% Year-on-Year in August, Meeting Market Expectations]

The US core PCE price index increased by 0.2% month-on-month in August, in line with estimates of 0.2%, compared to the previous value of 0.3%; year-on-year, the core PCE price index grew by 2.9% in August, matching expectations of 2.9%, and unchanged from the previous value of 2.9%.

[International oil prices continue to rise, with both major crude oil futures recording weekly gains of over 5%]

The WTI crude oil futures price closed up 1.14% on Friday at $65.72 per barrel, with a cumulative weekly increase of 5.3%. Brent crude oil futures closed up 1.02% on Friday at $70.13 per barrel, with a cumulative weekly increase of 5.2%.

Global Markets

After three consecutive days of declines, the U.S. stock market rebounded on Friday, with all three major indices closing higher. At the close, the Dow Jones Industrial Average rose 0.65% to 46,247.29 points; the S&P 500 Index increased by 0.59% to 6,643.70 points; and the Nasdaq Composite Index gained 0.44% to 22,484.07 points.

Most large-cap tech stocks rose, with NVIDIA up 0.28%, Microsoft up 0.87%, Apple down 0.55%, Google up 0.31%, Amazon up 0.75%, Meta down 0.69%, Tesla up 4.02%, Broadcom down 0.47%, and Oracle down 2.70%.

The majority of popular Chinese stocks declined, with the Nasdaq China Golden Dragon Index falling 1.56%. Alibaba dropped 2.03%, JD.com fell 1.91%, PDD Holdings slid 0.78%, Nio plummeted 5.76%, XPeng Motors rose 2.43%, Li Auto fell 5.62%, Bilibili dropped 4.57%, Baidu declined 3.00%, NetEase fell 2.17%, Tencent Music rose 0.30%, and Pony AI slipped 0.66%.

Hong Kong’s three major indices collectively retreated on Friday. At the close, the Hang Seng Index fell 1.35% to 26,128.20 points; the Hang Seng Tech Index dropped 2.89% to 6,195.11 points; and the Hang Seng China Enterprises Index declined 1.49% to 9,303.10 points.

In terms of market performance, wind power and dairy stocks strengthened, while consumer electronics, robotics, and technology stocks weakened.

Southbound Capital

According to Wind data, Southbound capital recorded net purchases of approximately HKD 10.541 billion on Friday, with Shanghai-Hong Kong Stock Connect showing net inflows of around HKD 7.366 billion and Shenzhen-Hong Kong Stock Connect net inflows amounting to about HKD 3.174 billion.

The total turnover of southbound funds reached approximately HKD 160.921 billion for the day, accounting for 49.72% of the Hang Seng Index’s trading volume, hovering at a short-term low.

Company News

Alibaba (09988): Disclosure documents show that JPMorgan increased its long position in shares from 1.3 billion shares, representing 6.81%, to 2.345 billion shares, representing 12.29%, through securing equity interests. Additionally, its short position increased from 427 million shares, representing 2.23%, to 1.451 billion shares, representing 7.61%, through borrowing shares under a share lending agreement.

XPeng Motors (09868): Announced its official entry into the markets of Switzerland, Austria, Hungary, Slovenia, and Croatia.

China Power International (02380): Total electricity sales for the first eight months amounted to approximately 86.8 million megawatt-hours, a year-on-year decrease of 1.11%. In August, total electricity sales were approximately 11.72 million megawatt-hours, a year-on-year increase of 4.78%.

Fosun Pharma (02196): Plans to participate in establishing a private equity investment fund and is preparing to transfer 100% equity of Shanghai Clone for a consideration not exceeding RMB 1.256 billion. Proceeds from the transfer will be used for continued investment in innovative drug development.

Important Data

17:00 Eurozone September Economic Sentiment Index, Industrial Sentiment Index, and Consumer Confidence Index Final Values

22:00 U.S. August Seasonally Adjusted Pending Home Sales Index (Month-over-Month Rate)

Financial News

20:00 Loretta Mester, a 2026 FOMC voter and President of the Cleveland Federal Reserve, participates in a policy panel discussion.