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<H Shrs>HSI Leaps 254 Pts at Midday; CN Insurers/ Brokers/ Autos/ Pharmas Rally; BRIGHT SMART Rockets 66% After Trading Resumes
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The HSI leaped 254 points or 1% at midday to 26,088. The HSCEI rose 81 points or 0.9% to 8,898. The HSTECH grew 68 points or 1.3% to 5,180. The total market turnover for the half-day amounted to HKD140.178 billion.

Chinese insurers and brokers staged a rally. CHINA TAIPING (00966.HK) advanced 3.8%. PICC GROUP (01339.HK), PING AN (02318.HK), CPIC (02601.HK), CHINA LIFE (02628.HK), and ZA ONLINE (06060.HK) gained over 2%. GF SEC (01776.HK) and CITIC SEC (06030.HK) ballooned 5.3% and 7.1%. GTHT (02611.HK), CICC (03908.HK), CSC (06066.HK) and CGS (06881.HK) jumped 3.4-4.1%.

Related NewsRetail Sales YoY for Jan-Feb in China is 2.8%, higher than the previous value of 0.9%. The forecast was 2.5%.
Among other financial stocks, BRIGHT SMART (01428.HK) rocketed 65.9% to HKD15.38. All conditions for Ant Group's stake acquisition were met, and the acquisition is expected to be implemented on March 30. HSBC HOLDINGS (00005.HK), AIA (01299.HK), and HKEX (00388.HK) added 0.8-1%. STANCHART (02888.HK) hiked 2%.

Driven by market expectations for an increase in the industry competition pricing range, BYD COMPANY (01211.HK) ticked up 2% to HKD106.4, while XIAOMI-W (01810.HK) rose 2.2% to HKD35.96. LI AUTO-W (02015.HK) and NIO-SW (09866.HK) escalated 3.1%. GEELY AUTO (00175.HK) and CHERY AUTO (09973.HK) surged over 5%. LEAPMOTOR (09863.HK) soared 4.7%.

BABA-W (09988.HK) grew 2.5% amid reports that it plans to launch an enterprise-level agentic AI application this week. TENCENT (00700.HK) and NTES-S (09999.HK) inched up 0.1% and 0.6%. MEITUAN-W (03690.HK) leaped 3.8% to HKD81.3. KUAISHOU-W (01024.HK) and JD-SW (09618.HK) added 1.3% and 1.1%. BILIBILI-W (09626.HK) soared 2.1%. BIDU-SW (09888.HK) fell 1.5%. PA GOODDOCTOR (01833.HK) and KINGSOFT (03888.HK) spiked 3.9% and 4.1%. WEIMOB INC (02013.HK) advanced 3%.

Related NewsOutstanding Loan Growth YoY for Feb in China is 6.0%, lower than the previous value of 6.1%. The forecast was 6%.
Pharma stocks were favored, with DUALITYBIO-B (09606.HK) and JUNSHI BIO (01877.HK) surging 7% and 6.7%. 3SBIO (01530.HK), GIANT BIOGENE (02367.HK), and WUXI XDC (02268.HK) mushroomed 5.1-5.6%. GENSCRIPT BIO (01548.HK) and SKB BIO-B (06990.HK) grew 4.2%. WUXI APPTEC (02359.HK) jumped 3.5%.
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