A-shares opened lower, the Shanghai Composite Index fell slightly, and military stocks became active again. Hengke Index fell by more than 1%, Alibaba fell by more than 5%, and Treasury bonds fell by more than 5%.

On Friday, May 16, A-shares opened lower collectively, fluctuated higher in the early trading, the ChiNext and Shenzhen Component Index turned red, and military stocks were active again. Hong Kong stocks opened lower, the Hang Seng Index fell by more than 1% at one point, and Alibaba fell by more than 5%. In terms of commodities, crude oil fell by more than 3%. In terms of bond market, treasury bond futures generally fell. Core market trends:

A-shares: As of press time, the Shanghai Composite Index fell 0.35%, the Shenzhen Component Index rose 0.10%, and the ChiNext Index rose 0.16%.

Hong Kong Stocks: As of press time, the Hang Seng Index fell 0.94%, and the Hang Seng Index fell 0.78%.

【09:51】

NetEase Hong Kong stocks rose more than 16%, and the stock price hits a record high

According to Wall Street News, on Thursday, NetEase released its first quarter 2025 performance report, its revenue increased by more than 7% year-on-year, and gross profit increased by 8.6% year-on-year. The game business performed well, with revenue increasing by 12.1% year-on-year. The operating profit of subsidiary Youdao hit a quarterly high of 104 million yuan, continuing the profit trend. CEO Ding Lei said that continuous innovation and high-quality content are the core of Q1 growth.

【09:38】

Military industrial stocks rose again, Chengfei Integration's 8 consecutive boards, Lijun Co., Ltd.'s 7 boards in 8 days, Tongda Co., Ltd. hit the daily limit, Tianhai Defense, Tianjian Technology, Aerospace Electronics, Jianglong Boat, Guorui Technology, Aerospace Nanhu, etc. followed suit.

【09:25】

The Shanghai Composite Index opened 0.18% lower, the Shenzhen Component Index opened 0.28% lower, and the ChiNext Index opened 0.36% lower, with the indexes of sectors such as propylene oxide, pet economy, and ASEAN Free Trade Zone leading the decline.

【09:20】

The Hang Seng Index opened 0.87% lower, while the Hang Seng Technology Index fell 0.95%. NetEase rose nearly 11%, Alibaba fell more than 6%, and both previously announced financial reports; Alibaba Health fell 3.6%, and Baidu fell 2.5%.

According to Wall Street News, on Thursday, Alibaba's financial report released by the group's fourth-quarter revenue increased by 7% year-on-year but was less than expected, and its net profit increased significantly year-on-year. After the results were released, Alibaba's stock price fell by about 8%, significantly underperforming the market. Morgan Stanley Gary Yu and his team released a research report on Thursday saying that although Alibaba's latest financial report is slightly lower than Wall Street expectations, its Alibaba Cloud's growth logic remains solid and will continue to benefit from the explosive growth in demand in the AI industry.

【09:00】

Commodity futures opened, the main crude oil contract fell by more than 3%, coking coal fell by more than 2%, and polysilicon, palm oil, soybean oil, glass, and coke fell by more than 1%. Shanghai Gold, Shanghai Silver and ferrosilicon rose by more than 1%.

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