【HK Futures Night Session + ADR + Northbound Funds】Night Session Closes Down 525 Points, HSBC ADR Trades 3% Below Hong Kong Price (Continuously Updated)

2026-03-20 22:01:27

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【Hang Seng Index / Hang Seng / HSIndex / Hang Seng Index / HSI / Hong Kong Stocks / Night Futures / ADR】 US interest rate hike expectations heat up, US 10-year Treasury yield surges to 4.38%, night futures drop 525 points, closing at 24,725 points. China concept stocks fall 2.9%, closing at 6,742 points. HSBC ADR down nearly 3% from Hong Kong closing price.

| ADR | HKD Equivalent | Change from HK Market Close | | Meituan ADR | 77.35 | -2.27% | | Tencent ADR | 497.42 | -2.08% | | HSBC ADR | 120.56 | -3.17% | | Alibaba US Stock | 119.86 | -3.10% |

Northbound funds withdraw over 21 billion, buying Xiaomi, Alibaba, Tencent, large-scale sell-off of index ETFs

Northbound funds see a net outflow of 21.01 billion yuan. Xiaomi (01810) and Alibaba (09988) record net inflows of 2.46 billion and 2.04 billion yuan respectively. Tencent (00700) has a net inflow of 680 million yuan. Meanwhile, funds sell off three major index ETFs: the Tracker Fund (02800), Hang Seng China Enterprises ETF (02828), and Southern Hang Seng Tech ETF (03033), with net outflows of 13.38 billion, 4.18 billion, and 3.63 billion yuan respectively.

Hang Seng Index drops 223 points. Alibaba down over 6% after earnings; Xiaomi falls more than 8%; CATL rises over 8% to new highs

Hong Kong stocks fall over 200 points. Hang Seng Index opens down 163 points at 25,337, briefly turns positive after opening, then declines again, with a maximum drop of 379 points to 25,121. The index finally closes down 223 points at 25,277, with a turnover of 34.252 billion HKD. The Tech Index drops 2.5% to 4,872. Alibaba (09988) drops over 6% after earnings; Xiaomi (01810) falls over 8%; CATL (03750) rises over 8% to break new highs.

▲【Hong Kong Market Close】Hang Seng down 223 points; Alibaba down 6% after earnings; Xiaomi down over 8%; CATL up 8% to new highs (updating continuously)

US stocks update continuously, see details on: Next Page

Financial Daily:

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Market Trends:

【19:25】Northbound funds net outflow over 21 billion, buying Xiaomi, Alibaba, Tencent; large sell-off of index ETFs. Hang Seng night futures down 77 points.

【16:59】【China Gas 003 Earnings】China Gas full-year profit down 0.4%, final dividend maintained at 23 cents.

【16:45】【CK Asset 1113】Review of broker comments on CK Asset earnings; JPM: short-term no large-scale reinvestment expected; why does UBS raise target price by 13%?

【16:43】【3750】CATL surges to 698 yuan, up 8%, breaking new highs, breaking the “Blue Curse”; why does H-share premium over A-shares reach nearly 49%, a new high?

【16:32】【New IPOs】Two new stocks listed next Monday; Feishu Innovation (3355) surged 104% in the dark pool, with a maximum profit of 4,340 HKD per lot; Guonian Technology (2701) rose 17%.

【16:10】 Hang Seng Index finally down 223 points, closing at 25,277, with a turnover of 34.252 billion HKD. Alibaba (09988) down over 6%, Xiaomi (01810) down over 8%, CATL (03750) up over 8% to new highs.

【16:00】 Hang Seng U-plate down 226 points, at 25,274, with a turnover of 29.021 billion HKD.

【15:35】MINIMAX (00100) continues to retreat 6%, low at 998 HKD; Zhipu (02513) also down over 6%, low at 616.5 HKD.

【15:25】【HSBC GIS】 HSBC to hold global investment summit from April 14-16, 2026, inviting former US Treasury Secretary Yellen to speak | List of speakers included.

【15:23】【Food Stocks】Guoquan to enter Hong Kong, planning to open its first store this year, testing the market.

【15:15】【257 Earnings】Everbright Environment profits up 16.2% last year; final dividend up 33% to 12 cents.

【15:08】SMIC (00981) down 5%; Huahong Semiconductor (01347) down 2%.

【15:07】Hong Kong stocks fall about 350 points in late session, at 25,149, with a turnover of 23.55 billion HKD. Tech Index down 2.9% at 4,851.

【14:06】【HSBC Major Bank Report】 Morgan: HSBC Middle East business contributes 5% of group pre-tax profit; management remains confident in achieving performance targets.

【14:06】【17】New World Development weak; the Zheng family considers rights issue or share placement to inject 31.2 billion HKD, confident in a rebound in Hong Kong real estate.

【13:17】Hang Seng afternoon drops 200 points, testing 25,300. Alibaba (09988) down over 6%, Xiaomi (01810) down over 6%.

【13:14】Tai Hing (03811) earnings after-hours plunge 7%, low at 1.07 HKD, with a turnover of 3.55 million HKD.

【13:00】Hong Kong stocks in early afternoon maintain over 100-point decline, at 25,351, down 149, with a turnover of 15.69 billion HKD. Tech Index down 1.7% at 4,910.

【12:51】Datang Xishi (00620) suspended trading at 0.355 HKD, down 42.7%, with a turnover of 17.298 million HKD.

【12:51】【Tai Hing 6811 Earnings】Tai Hing Group pays a 5-cent final dividend, doubling from last year; current dividend yield 7.4%; full-year profit up 72%.

【12:45】【Property Developer Warning】Zhengrong Real Estate expects a maximum 1.6-fold increase in losses last year, up to 18 billion RMB.

【12:10】【762 Analysis】 China Unicom (762) drops over 3% after earnings; Credit Suisse lowers target price; analysis: earnings are average but AI highlights remain.

【12:00】 Hang Seng Index halves the day’s decline, down 161 points at 25,338, with a turnover of 15.42 billion HKD. Tech Index down 1.7% at 4,911. Alibaba (09988) down nearly 6% after earnings; Xiaomi (01810) down nearly 7%; Li Ning (02331) up 10% on the contrary. Car stocks generally rise, Geely (00175) up 7%, BYD (01211) up nearly 2%.

【11:46】【AI+9988】 Alibaba’s Q3 3.5 flagship model preview appears, surpassing GPT 5.4 and Claude 4.6, ranking 5th among global large model companies.

【11:38】【1810 Analysis】 Xiaomi surged 7% after the launch event; Goldman Sachs says the new SU7 performed strongly initially; analysis: focus on gross margin pressure.

【11:05】【9988 Analysis】 Alibaba’s earnings after-hours fell 6%; Daiwa lowers target price to 184 HKD; analysis: long-term AI development remains attractive.

【10:58】【1910 Earnings】 Samsonite (1910) after earnings, once down 11%; last year profit down 16%; Timothy Charles Parker to resign as chairman, succeeded by Jerome Squire Griffith.

【10:49】 Zijin (02899) down 0.9%; Zijin Gold International (02259) up over 4%; Zhaojin (01818) up 1%; Lingbao Gold (03330) up over 3%; Shandong Gold (01787) up nearly 1%.

【Gold Price Trend】 Gold faces the largest weekly decline in 6 years; what is the current price per two?

【10:49】 Geely (00175) up over 6%; BYD (1211) up over 2%; Li Auto (02015), NIO (09868) up over 2%, but NIO down 4%.

【09:55】 Market turns down again, down about 131 points, at 25,369. Alibaba (09988) down over 4%; Xiaomi (01810) down over 6%.

【09:54】【2331 Earnings】 Li Ning (02331) stock up 13% after earnings; net profit down 2.6%; final dividend up nearly 13% to 23.36 cents RMB.

【09:40】 Hong Kong stocks open higher, Hang Seng up about 23 points, at 25,523.

【09:40】【New IPO】Hua Yan Robotics (1021) raises over 1.3 billion HKD; collaborative robot company; entry fee 3,434 HKD per lot.

【09:22】Guanghe Technology (01989) debuts at 95.05 HKD, 32.2% above IPO price of 71.88 HKD; profit of 2,317 HKD per lot based on 100 shares.

【New IPO】Guanghe Technology (01989) opens 32% higher, profit of 2,317 HKD per lot; oversubscribed 1069.7 times.

【09:22】 Hang Seng opens 163 points lower, at 25,337, with a turnover of 5.64 billion HKD; Tech Index down nearly 1% at 4,648. Alibaba (09988) down over 6% after earnings; Tencent (00700) down over 1%; Li Ning (02331) up 8%.

【09:08】 Hang Seng futures down about 67 points, at 25,370.

【08:42】【New IPO】Han Tiancheng (2726) raises 1.6 billion HKD; silicon carbide external supply vendor; entry fee 3,851 HKD.

【08:19】【New IPO】Tongrentang Medical & Elderly Care (2667) raises nearly 900 million HKD; subsidiary of Tongrentang; entry fee 4,192 HKD.

【07:55】【New IPO】Deshite (2526) raises nearly 900 million HKD; focuses on medical imaging products; entry fee 5,682 HKD.

【07:45】【9988 Earnings】 Alibaba down 7%; CEO: cloud and AI business revenue expected to exceed 100 billion USD in five years; retail segment profitable in FY29.

【07:45】【Morning Highlights】Alibaba’s adjusted net profit last quarter below expectations; PCCW’s full-year profit up 7%; Cathay Pacific ranks second globally among airlines.

【07:45】 Iran conflict concerns ease, China concept stocks’ decline narrows to 1%, closing at 6,945, night futures down 151 points, closing at 25,312. Alibaba US stocks down 7% from HK stocks.

| ADR | HKD Equivalent | Change from HK Market Close | | Meituan ADR | 78.96 | -2.15% | | Tencent ADR | 507.86 | -1.00% | | HSBC ADR | 124.49 | +0.40% | | Alibaba US Stock | 122.30 | -7.35% |

More Hong Kong ADRs and Chinese concept stocks quotes:

【07:30】US stocks decline, Dow down 203 points, closing at 46,021; S&P down 0.3% at 6,606; Nasdaq down 0.3% at 22,090.

See US market close now:

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Hong Kong market yesterday, details at: 【Hong Kong Night Futures + ADR + Northbound Funds】 Alibaba US stocks down 7% from HK stocks; night futures down 151 points.

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