HSI quarterly review triggers stock fluctuations; Alibaba faces US scrutiny again｜Today's important news recap
0519 | Dolphin Research Focus:
🐬 Macro/Industry
1、After Friday's market close, the Hang Seng Index Series quarterly review results were announced, causing varying degrees of price fluctuations in related stocks today. The benchmark Hang Seng Index (HSI.US) added Midea Group and ZTO Express, while the Hang Seng Tech Index added BYD and removed China Literature, whose stock price dropped over 7% today. The Hang Seng Composite Index also underwent minor adjustments, adding three recently listed popular stocks - Brook, Gu Ming and Mixue. Both Gu Ming and Mixue saw significant gains today.
2、Today the National Bureau of Statistics released the April 2025 macroeconomic "data package", showing slight month-over-month slowdowns across all indicators. April's total retail sales grew 5.1% year-over-year, 0.8 percentage points lower than March. Similar to the U.S. situation, tariffs haven't yet shown impact on domestic economy and consumption. Dolphin Research's brief commentary: April 2025 Retail Sales Review: Bottoming-out Recovery Trend Continues, Tariffs Show No Impact Yet
🐬 Stocks
1、Alibaba
Foreign media reported that U.S. White House and Congressional officials have been reviewing Apple's AI partnership plan with Alibaba over past months, as Apple seeks to introduce AppleIntelligence to China with Alibaba as a partner. The U.S. government is reportedly discussing whether to add Alibaba and other Chinese AI companies to a list prohibiting business with American firms. Combined with Alibaba's disappointing earnings last week, these negative factors drove today's stock decline.
2、NVIDIA
NVIDIA founder and CEO Jensen Huang attended Computex 2025 in Taipei and delivered the opening keynote, sharing latest breakthroughs in AI and accelerated computing. Besides announcing next-gen GB300 AI system for Q3 launch, he revealed NVIDIA will collaborate with TSMC and Foxconn to build an AI supercomputer in Taiwan.
3、Xiaomi
Xiaomi CEO Lei Jun announced via Weibo a strategic product launch event on May 22 at 7pm, featuring multiple flagship products including Xiaomi's self-developed O1 SoC chip, Xiaomi 15S Pro, Xiaomi Pad 7 Ultra, and its first SUV model YU7. Focus will be on self-developed chip progress and YU7 pricing strategy. Following the announcement, Xiaomi's stock rebounded from losses to gains.
4、Microsoft
Microsoft will hold its Build developer conference from May 19-22, expected to announce new AI integrations, services and applications including Windows versions. The market anticipates Microsoft announcing deeper integration of its Copilot generative AI across numerous software products for both consumer and enterprise segments.
5、Leapmotor will report earnings tonight.
🐬 Top Gainers
China A-shares: Diversified capital markets, catering services, shipping ports-operators;
Hong Kong: Data processing & outsourcing, leisure facilities like stadiums, security & alarm services;
U.S.: Managed healthcare, medical services, agricultural machinery.
🐬 Tomorrow's Focus
1、Google's annual I/O developer conference on May 20.
2、Microsoft Build developer conference.
3、CATL's main board listing debut on HKEX;
4、China's central bank May LPR announcement;
5、Bilibili, Trip.com, Vipshop earnings - Dolphin Research will track and provide analysis;
6、China's one-year loan prime rate. Risk disclosures: Dolphin Research Disclaimer
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