Central banks join hands to enhance US dollar liquidity, while US stock futures have slipped, HK stocks are under pressure today when UBS acquires Credit Suisse. HSI low 165 points after the decline expanded, fell 689 points once low of 18,829 points, the tail market fell slightly narrowed, down 517 points or 2.7% throughout the day, closing 19,000 points; HSI fell 146 points or 2.2%, closing 6,469 points; Hang Seng TECH Index fell 109 points or 2.8%, closing 3,870 points. Market full day turnover amounted to $129,439 billion, net inflow from Shanghai and Shenzhen-Hong Kong Stock Connect southbound transactions of RMB 3.553 million and 3.548 billion yuan.

Financial stocks fell, Swiss financial regulator FINMA write-off Credit Suisse CHF 16 billion additional tier-1 capital (AT1) bonds to zero, market concern financial institutions exposure to high-risk bonds risk, HSBC (00005.HK) fell 6.2% reported 50.45 yuan, and saw 49.7 yuan in intraday low. Standard Chartered (02888.HK) fell 7.3% to 58.4 yuan, AIA (01299.HK) fell 4.2% to $75.65, Prudential (02378.HK) fell 8.3% to $94. HKEx (00388.HK) fell -1.7%.

Capital safe-haven, gold stocks rose, Zhaojin (01818.HK) rose 11%, China Gold International (02099.HK) and Lingbao (03330.HK) each rose nearly 7% and 6.8%, Shandong Gold (01787.HK) and Zijin (02899.HK) rose 4.9% and 4% each.

With weak consumer stocks, BOCOM International Report quoted Li Ning (02331.HK) management forecast sales growth of about 15% this year, below the previous guidance of 20%, Li Ning fell 3.6% to 55.6 yuan, and the same industry (06110.HK) fell 4.5%. Dairy stocks Mengniu (02319.HK) and Flying Crane (06186.HK) fell 4.2% and 3.8%, Beer stocks (00168.HK), Hol (00291.HK) and Budweiser Asia Pacific (01876.HK) fell 4.3% to 4.7%, Food and Beverage Shares Yihai (01579.HK), Seabilao (06862.HK) and Yum China (01579.HK) 09987.HK) fell 4.1% to 5.1%.

E-stock Xiaopeng (09868.HK) net loss in non-GAs for the fourth quarter last year was RMB 2.21 billion, rising 1.6% with Mainland A-share peers. Zero run (09863.HK) rose 4.4% while Wei Loy (09866.HK) fell 5.5%.

In terms of technology stocks, Alibaba (09988.HK) fell 2.8% to 79.2 yuan, Tencent (00700.HK) fell 1.4% to 334.8 yuan, Xiaomi (01810.HK) and Jingdong (09618.HK) fell 2.8% and 2.7%, bleeping miles (09626.HK) and Weibo (09898.HK) fell 5.8% and 6.9%. The Oriental Selection (01797.HK), Cloud Music (09899.HK) and Kingdee (00268.HK) rose 14.6% to 18.8% each.

WUXI BIOTECH (02269.HK), CHINA RES PHARMA (03320.HK), Baiyun Shan (00874.HK), Hanson (03692.HK) and China Traditional Chinese Medicine (00570.HK) decreased by 4.9% to 5.9%.