According to Zhitong Finance APP, the Hong Kong Hang Seng Index fell by 1% in the morning session, reporting 19,666 points; the Hang Seng TECH Index fell by 1.32%.

The national airline passenger transportation volume exceeded 0.7 billion, marking a new phase in air travel. Aviation stocks rose against the trend, with Air China Limited (00753) up 3.63% at HKD 5.14; China Southern Airlines (01055) rose by 3.5%; and China Eastern Airlines (00670) increased by 2.33%.

Horizon Robotics-W (09660) rose over 3.49% in the morning, partnering with Zhixing Technology to develop a full-stack smart driving solution based on J6E.

ZTE (00763) rose against the trend by 3.37%, seizing opportunities in AI large model developments with continued high demand for computing power.

MAANSHAN IRON (00323) rose over 4%, as the controlling shareholder MA Steel Group completed its shareholding plan, and Institutions are bullish on the value recovery of the undervalued Steel company.

LAEKNA-B (02105) increased by 4.49% during the trading day, as the company accelerates the clinical development of LAE102, previously announced a collaboration with Eli Lilly and Co in the USA.

Yihua Tong (02402) rose 6.13% in the morning, jointly increasing investment in the joint venture with Toyota by 1.9 billion yen, continuing to promote the development of the hydrogen energy industry.

Ceasefire negotiations continue to advance, and Institutions indicate that there is significant uncertainty in short-term freight rates. Shipping stocks collectively fell, SITC (01308) dropped 3.65%; OOIL (00316) fell 2.99%; PACIFIC BASIN (02343) decreased by 3.01%; COSCO SHIP ENGY (01138) dropped 2.55%; COSCO Shipping Holdings (01919) fell 2.55%.

Mainland Real Estate stocks fell broadly in the morning, RONSHINECHINA (03301) once dropped 5.81%, and SUNAC (01918) fell over 3.27% in the morning.

Same-store sales in the dining industry remain weak, and Institutions indicate that a gradual stabilization and recovery is expected in the coming year. Dining stocks continued to decline, Helen's (09869) fell 4.07%; XIABUXIABU (00520) dropped 4.55%; JIUMAOJIU (09922) decreased by 1.90%.