Pre-market, February 11, 2026

Today (February 11th), Hong Kong and A-shares showed a divergent pattern of "Shenzhen weak, Shanghai strong, with Hong Kong tech leading gains," while US pre-market focus was on the annual revision of non-farm payrolls and major M&A developments.

🇭🇰 Hong Kong Market Summary: Tech and Metals Lead

· Indices: The Hang Seng Index closed up 0.31% (27,266 points), the Hang Seng Tech Index rose 0.90% (5,500 points), with turnover at HKD 217.2 billion; Southbound net inflows exceeded HKD 4.8 billion.
· Highlights: Metals (Zijin International up over 9%, Indonesia nickel quota cuts), Building Materials (China National Building Material up 11%), Autos (Xiaomi up 4.27%, new SU7 display); Stablecoin concept saw unusual activity (John Lee: first batch of licenses to be issued next month).
· Movers: SMIC fell 2.2% post-earnings; China Literature dropped over 8% on profit warning.

🇨🇳 A-Share Summary: Cyclicals Strong, Film & TV Plunge

· Indices: Shanghai Composite edged up 0.09%, Shenzhen Component fell 0.35%, ChiNext fell over 1%; turnover fell below CNY 2 trillion, shrinking by CNY 120 billion, with 3,200 stocks declining.
· Structure: Chemicals/Fiberglass (Jihua Group 4 limit-ups in 5 days), Tungsten (Xianglu Tungsten hit limit-up); Film & cinema stocks collectively plummeted (Hengdian Film & TV hit limit-down after 7 limit-ups in 9 days).

🇺🇸 US Pre-Market: Watching NFP, Big Moves

· Trend: Futures slightly up (Nasdaq futures +0.16%); January NFP and major annual revisions for the past two years' data to be released at 21:30, industry expects only 55k-70k new jobs, potentially causing volatility.
· Giants: Google up 0.5% pre-market, EU approved its $32 billion acquisition of Wiz; Mattel down over 30% (profit guidance disappointment), Lyft down over 17% (poor Q4 revenue).
· Watch: Deutsche Bank sharply raised Micron's target price to $500 (a 67% increase); SpaceX and xAI lost 5 founding team members in six months after merger.