On March 4, 2025, the Hong Kong stock market closed lower. The Hang Seng Index (HSI) fell by 0.28%, the Hang Seng China Enterprises Index (HSCEI) dropped by 0.62%, the Hang Seng Tech Index (HSTECH) remained flat, and the Hang Seng China-Affiliated Corporations Index (HSCCI) decreased by 0.25%.

In terms of industry sectors, the Hong Kong military stocks saw a significant rise, with an increase of 4.98%. The Hong Kong SaaS concept stocks also performed well, rising by 2.80%. On the other hand, the Hong Kong property management sector experienced a notable decline, falling by 3.76%, and the Hong Kong automobile sector dropped by 5.23%. The Hong Kong carbon neutrality sector saw the largest decline, plummeting by 5.79%.

TENCENT rose by 1.61%. The stock saw a significant inflow of nearly HKD 10 million into its short positions, reflecting investor interest ahead of JD.com's earnings announcement on Thursday.

BABA-W fell by 1.99%. The decline was influenced by the local supplier survey conducted in Yuhang District, Hangzhou, as part of Alibaba Group's cloud and AI investment plan. The survey aims to identify local suppliers interested in participating in Alibaba's ecosystem, which may have raised concerns among investors.

BYD COMPANY dropped by 6.77%. The company announced a placement of nearly 130 million new H shares at a price of HKD 335.2 per share, representing a discount of approximately 7.8% from the previous closing price. The placement, aimed at raising around HKD 43.5 billion for R&D, overseas business development, and general corporate purposes, led to a significant decline in the stock price.

GEELY AUTO fell by 5.70%. The overall decline in the automobile sector, coupled with BYD's significant share placement, contributed to the negative sentiment surrounding Geely Auto.

NIO-SW declined by 4.55%. Despite the company's ongoing expansion of its battery swap network, the negative sentiment in the automobile sector weighed on its stock price.

BUD APAC rose by 4.50%. The stock surged as the company announced the appointment of a new CEO and an increase in its dividend payout ratio for 2024, signaling confidence in its future prospects.

LINGBAO GOLD increased by 6.34%. The rise in gold stocks was driven by heightened market risk aversion and positive long-term outlooks for precious metals, with JPMorgan predicting gold prices could approach USD 3,000 per ounce by the end of 2025.