AgiBot officially released its new-generation embodied foundation model, Genie Operator-2 (GO-2), which is the first to unclog the "last mile" from logical reasoning to precise action execution within a unified architecture.

Trained on tens of thousands of hours of data, it has set new industry state-of-the-art (SOTA) records across multiple robot benchmark tests, enabling robots to move from "black-box exploration" toward true "integration of knowledge and action".
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The release of FY2025 results by Chinese independent power producers (IPPs) confirmed BofA Securities’ concerns regarding declining feed-in tariffs (FITs) and utilization hours, according to BofA Securities' research report. The broker favored hydropower > nuclear power > wind/solar > thermal IPPs, and downgraded HUADIAN POWER (01071.HK) to Underperform due to higher coal costs.

The wind power supply chain continued to benefit from growth in high-margin export business, thereby supporting BofA Securities’ Buy rating on ORIENT WIRES & CABLES (603606.SH) and its recent upgrade of GOLDWIND (02208.HK) to Buy.

The broker also reiterated ratings at Buy on EB ENVIRONMENT (00257.HK) and GUANGDONG INV (00270.HK) following their better-than-expected results. BofA Securities adjusted target prices for several stocks in the sector, as detailed below:

Stock | Rating | TP (HKD)
CGN POWER (01816.HK) | Underperform | 2.5 -> 3
CGN (003816.SZ) | Underperform | RMB3.1 -> RMB3.7
HUADIAN POWER (01071.HK) | Neutral -> Underperform | 4.3 -> 3.5
HUADIAN INTERNATIONAL (600027.SH)|Neutral->Underperform| RMB5.1 -> RMB4.1
CHINA LONGYUAN (00916.HK)|Underperform|6.1 ->5.8
LONGYUAN POWER (001289.SZ)|Underperform|RMB13.7 -> RMB12.8
DATANG RENEW (01798.HK) | Underperform | 1.9 -> 1.55
GUIGUAN ELEC POWER (600236.SH) | Buy | RMB11.3 -> RMB11.5
POWER ASSETS (00006.HK) | Buy | 63 -> 63.5
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Yushu Technology (Unitree Robotics) and BABA-W (09988.HK) are mulling an important overseas strategic cooperation, Chinese media reported, citing people familiar with the matter. Its latest robot model, R1, recently appeared at Alibaba Xixi Campus, in preparation for a new project named "Shu Maitong".

The project is reportedly slated to be officially unveiled at a brand conference in Shenzhen in mid-month. The cooperation is highly likely to be related to AliExpress, Alibaba's cross-border e-commerce platform, sources close to Alibaba were quoted in the report as analyzing.
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PONY-W (02026.HK), in partnership with autonomous mobility service provider Verne and global mobility platform Uber (UBER.US), commenced commercial Robotaxi operations in Zagreb, the capital of Croatia, marking the first publicly available commercial Robotaxi service in Europe.

With immediate effect, residents of Zagreb can book rides via the Verne app, with the service to be integrated into the Uber app at a later stage.
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The outlook for Chinese airlines has further deteriorated, with the anticipated short-lived recovery likely coming to an abrupt halt, DBS Group Research said in a research report. The industry is once again facing margin pressure, not only due to elevated jet fuel prices but also because of the rapid pace of the increase, making it difficult for airfares to offset the rise.

DBS believed street consensus remains overly optimistic. It foresaw that Chinese SOE airlines will record substantial losses this year, with a profit recovery likely to be delayed until 2027. As a result, downside risks to earnings and valuations remain elevated, which may continue to weigh on share price performance.

DBS maintained Sell on CHINA SOUTH AIR (01055.HK), lowering its TP from HKD3.6 to HKD3.4. For SOUTHERN AIRLINES (600029.SH), the rating was Sell with a TP of RMB5.5.
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Hong Kong stocks softened at open this morning (9th). The HSI opened 136 points or 0.5% lower at 25,756. The HSCEI opened 53 points or 0.6% lower at 8,623. The HSTECH opened 54 points or 1.1% lower at 4,868.

WTI crude oil posted its largest single-day drop since the COVID-19 pandemic in 2020 on Wednesday, but reports indicate that the Strait of Hormuz remains blocked now. CNOOC (00883.HK) rebounded 1.3% this morning, making it the best-performing blue chip. PETROCHINA (00857.HK) opened flat at $10.56, while SINOPEC CORP (00386.HK) ebbed 0.4%. Gold miners ZIJIN MINING (02899.HK), LINGBAO GOLD (03330.HK) and CHINAGOLDINTL (02099.HK) shed 1.8% to -2.8%.

It is reported that BABA-W (09988.HK) established a new Group Technology Committee, upgraded its Tongyi Large Model Business Unit, and accelerated AI development. However, its share price cascaded 2.7%, making it the worst-performing blue chip.

Other techs also weakened, with TENCENT (00700.HK) sliding 0.3%. KUAISHOU-W (01024.HK) waned 2.5%, while MEITUAN-W (03690.HK) lost 1.4%. JD-SW (09618.HK) faded 1.7%. For chip stocks, HUA HONG SEMI (01347.HK) shrank 2.2%, while AI stock KNOWLEDGE ATLAS (02513.HK) mounted 3.3%.
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China Foreign Exchange Trade System (CFETS) announced on Thursday (9th) that the central parity of USD/ RMB added 31 bps from the previous day to 6.8649.
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The People's Bank of China (PBOC) conducted a seven-day reverse repo operation of RMB500 million in the open market today (9th), with the operating rate unchanged at 1.4%. RMB500 million of reverse repos matured today.
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Samsung Electronics' China strategy will undergo reshuffle, and it may retain only its mobile phone and memory businesses in the future, shifting its focus toward memory and other semiconductor operations, China Business Network reported, citing people with the knowledge of the matter.

Samsung Electronics' home appliance business in mainland China has continued to shrink, and it may transition to an agency model in 2H26.
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With this year marking the first year of the 15th Five-Year Plan, the Cyberspace Administration of China stressed at the national conference on internet rule of law held in Beijing yesterday (8th) that it is imperative to advance key internet legislation, expand foreign-related internet rule-of-law initiatives, and further improve the online legal and regulatory framework.

In addition, efforts should be paid on law enforcement, internet enforcement in key areas, consolidation of the online enforcement work foundation, and supervision and guidance improvement.
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There was HKD2 billion, HKD296.9 million and HKD21.2 million Southbound Trading net inflow to BABA-W (09988.HK), POP MART (09992.HK) and SMIC (00981.HK).

There was HKD8.9 billion, HKD2.4 billion and HKD1.8 billion Southbound Trading net outflow from TRACKER FUND (02800.HK), XIAOMI-W (01810.HK) and YOFC (06869.HK).

For Southbound Trading of Shanghai-Hong Kong Stock Connect, BABA-W (09988.HK) was the most active stock with highest net inflow of HKD831.3 million, while TRACKER FUND (02800.HK) was the most active stock with highest net outflow of HKD7 billion.

For Southbound Trading of Shenzhen-Hong Kong Stock Connect, BABA-W (09988.HK) was the most active stock with highest net inflow of HKD1.2 billion, while TRACKER FUND (02800.HK) was the most active stock with highest net outflow of HKD1.8 billion.

At close, Southbound Trading net outflow totaled HKD0 , representing 41.48% of the total transaction amount of HKD154.48 billion.
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Taobao Live announced today (8th) that it will step up investment in three key areas this year to enhance the differentiated recognition of high-quality hosts, achieve 100% growth in new product turnover, and attract more high-quality users with better premium content.
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Spot USD/CNY soared 323 bps to close at 6.8274 today (8th), notching a new high since March 2023. As of 4:47 pm, USD/CNY in the night session leaped 280 bps. USD/CNH swelled 242 bps to 6.8285, 11 bps below USD/CNY.
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This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.

The HSI ended the first trading day after the Easter and Ching Ming holiday at 25,893, up 776 points or 3.1%. The HSCEI rose 220 pts or 2.6% to close at 8,677. The HSTECH grew 244 points or 5.2%, closing at 4,923. Total market turnover for the day increased to HKD372.437 billion.

US-Iran talks will be held on Friday (10th) in Pakistan's capital. Reports said Iran and Oman will charge fees on vessels passing through the Strait of Hormuz during the ceasefire period. Mirroring the international oil price slump, CNOOC (00883.HK) and PETROCHINA (00857.HK) fell 3.3% and nearly 2%. SINOPEC CORP (00386.HK), in contrast, rose 2.8%. Coal producer CHINA SHENHUA (01088.HK) also declined 2.1%.

Gold miners ZIJIN MINING (02899.HK) and LINGBAO GOLD (03330.HK) rallied 5.3% and 9.3%. CHINAGOLDINTL (02099.HK) surged 10.8%. Resource stocks JIANGXI COPPER (00358.HK) and MMG (01208.HK) advanced 8.7% and 10%. CMOC (03993.HK) leaped 10.6%, the best-performing blue chip. Aluminum stocks CHINAHONGQIAO (01378.HK) and CHALCO (02600.HK) climbed 1.9% and 4.7%.

China's State Administration for Market Regulation required MEITUAN-W (03690.HK), Taobao Instant Commerce, and JD-SW (09618.HK) to strengthen primary responsibility for food safety. MEITUAN-W rocketed 10.3%, while JD-SW ticked up 3.6%.

Among other tech stocks, TENCENT (00700.HK) shot up 3.8%. BABA-W (09988.HK) jumped 6.8%. LENOVO GROUP (00992.HK), BILIBILI-W (09626.HK), KUAISHOU-W (01024.HK), BIDU-SW (09888.HK), and NTES-S (09999.HK) advanced 2.2-5.8%. WEIMOB INC (02013.HK) soared 8.9%. SENSETIME-W (00020.HK) swelled 9.7%.

Moving against the market trend, pharma stocks were under hefty selling pressure. SBP GROUP (01177.HK) plunged 4.6%, making it the biggest loser among blue chips. CSPC PHARMA (01093.HK) and HANSOH PHARMA (03692.HK) dropped 4.1% and 2.9%.
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Following the US-Iran agreement to a two-week ceasefire, with Iran consenting to reopen the Strait of Hormuz, US President Donald Trump also secured an “off-ramp”, CLSA said in a report, deciding to add back risk. The broker noted that the 14-day ceasefire between the US and Iran may be insufficient to give Gulf exporting countries the confidence to restore production to pre-war levels, but it should at least allow the release of cargo stranded behind the strait, providing much-needed relief.

Both sides have adequate motivation to continue negotiations after the two weeks, though the broker expected each to test the other’s bottom line. Nevertheless, the broker decided to withdraw its defensive stance adopted after the outbreak of war and return to benchmark allocations: China market at benchmark, Taiwan region at 10% underweight, South Korea at 15% overweight, Australia at 20% underweight, India reduced to 10% overweight, Singapore at benchmark, Malaysia at 30% underweight, in line with other ASEAN markets (Thailand, Indonesia and the Philippines). Hong Kong was set at 20% overweight.

The two-week ceasefire mediated by Pakistan has taken immediate effect. However, Iran’s desired endgame extends beyond avoiding further attacks and includes some form of compensation, such as sanctions relief and UN resolutions, certain reparations, and the imposition of transit fees in the strait to raise funds. Iran clearly sensed Trump’s eagerness to disengage, but on certain red lines’ including nuclear enrichment and the presence of US regional bases, Trump (and/or Benjamin Netanyahu) may stand firm. Iran suffered tangible damage, while Trump faces political fallout, giving both sides incentives to seek a resolution. If negotiations fail, the US could take actions perceived as violating international law, or even pursue an invasion.

With the ceasefire in place, CLSA added cyclicality back into its allocation, as waiting until a final peace agreement is reached would be too late. However, Thailand, the Philippines and Vietnam remain the most exposed markets in its scorecard.
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LI AUTO-W (02015.HK) has announced progress in its supercharging network development. According to Chinese media reports, the carmaker added 19 Li Auto supercharging stations in March. As of the end of March, there were a total of 4,057 Li Auto supercharging stations and 22,400 supercharging piles across China, covering 289 cities in 31 provinces.
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According to a Citi report, 37% of the 2025 results delivered by the Chinese consumer companies under the broker's coverage beat forecasts, 43% were in line with expectations, and only 20% were worse than expected.

Looking ahead to 2026, most companies provided specific guidance rather than using general descriptions like "cautiously optimistic". However, investors' positive sentiment toward the sector has been disrupted by the Middle East conflict, as well as concerns over cost inflation and macro uncertainty, leading to divergent investor views.

Citi is upbeat about the bounce back of downstream dairy producer MENGNIU DAIRY (02319.HK), sportswear maker ANTA SPORTS (02020.HK), as well as casual dining ecosystem players HAIDILAO (06862.HK), CHINA RES BEER (00291.HK), and HAITIAN FLAV (03288.HK).

If risk appetite exceeds expectations, Citi estimates stronger performance from POP MART (09992.HK), LI NING (02331.HK), LAOPU GOLD (06181.HK), CTG DUTY-FREE (01880.HK), and EASTROC (9980.HK).
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Hong Kong bourse resumed trading after the Easter and Ching Ming holidays by surging 656 points at the open following news that the US and Iran agreed to a two-week ceasefire. At midday, the HSI closed at 25,821, up 705 points or 2.8%. The HSCEI climbed 199 points or 2.4% to 8,656. The HSTECH swelled 206 points or 4.4% to 4,885. Half-day turnover totaled HKD200.504 billion.

US-Iran talks were held on Friday (10th) in Pakistan s capital. During the ceasefire period, Iran and Oman were reportedly set to charge fees on vessels crossing the Strait of Hormuz. International oil prices slumped. CNOOC (00883.HK) tumbled 3.6%, rendering it the worst-performing blue chip. PETROCHINA (00857.HK) subtracted 2%. SINOPEC CORP (00386.HK) rallied 2.2%.

Gold miners escalated, with ZIJIN MINING (02899.HK) and LINGBAO GOLD (03330.HK) up 6.7% and 8.4%, respectively. CHINAGOLDINTL (02099.HK) surged nearly 10%. Resource stocks JIANGXI COPPER (00358.HK) and MMG (01208.HK) jumped up 9.1% and 10%, respectively. CMOC (03993.HK) leapfrogged 9.3%. Aluminum producers CHINAHONGQIAO (01378.HK) and CHALCO (02600.HK) hiked 2.7% and 5.4%, respectively. Airlines CHINA SOUTH AIR (01055.HK), CHINA EAST AIR (00670.HK) and AIR CHINA (00753.HK) mushroomed 5.4-8.1%.

China’s State Administration for Market Regulation required MEITUAN-W (03690.HK), Taobao Instant Commerce and JD-SW (09618.HK) to strengthen primary responsibility for food safety. Meituan ballooned 9.8%, the best-performing blue chip, while JD gained 2.4%. Among other techs, TENCENT (00700.HK) mounted 3.1% and BABA-W (09988.HK) added 4.5%. LENOVO GROUP (00992.HK), BILIBILI-W (09626.HK), KUAISHOU-W (01024.HK), BIDU-SW (09888.HK) and NTES-S (09999.HK) increased 1.8-6.5%. WEIMOB INC (02013.HK) jumped up 6.8% after launching a retail sector-specific AI Skill integrated into the Lobster ecosystem. SENSETIME-W (00020.HK) soared 9.2%.
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In March 2026, a total of 38 Chinese mobile game publishers were ranked among the global top 100 by revenue, according to a report by People's Financial News, citing data from Sensor Tower's Store Intelligence platform.

These Chinese publishers grossed a combined USD2.11 billion, accounting for 39.2% of the total revenue of the global top 100 mobile game publishers for the period.

Titles under Tencent, including Honor of Kings, Game For Peace, and Delta Force, secured the top three positions on the China App Store mobile game revenue chart for the period.
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