Kwok Kay-yiu, Director of Business Development at Harbor Family Office, analyzed that U.S. stocks showed mixed performance on Wednesday. The United States and Iran agreed to extend the ceasefire, with the market awaiting further developments. Technology stocks performed strongly, with the S&P 500 Index and Nasdaq Composite hitting new historical highs, while the three major indices closed with mixed results. The U.S. dollar remained weak, with the yield on the 10-year Treasury note rebounding to 4.28%. Gold prices stabilized at higher levels, whereas oil prices remained volatile and soft. Hong Kong Depositary Receipts (HDRs) generally rose, with expectations that the local market would open higher in early trading. Mainland China’s stock markets showed divergent trends yesterday, with the Shanghai Composite Index opening higher but closing nearly flat, while trading volumes on both the Shanghai and Shenzhen exchanges increased. Stimulated by external factors, Hong Kong’s stock market continued to improve, with the index reaching as high as 26,200 points before narrowing gains and closing at its daily low. Blue-chip stocks exhibited mixed performances, with overall turnover remaining subdued. The market is closely watching external dynamics, with expectations that the index will not see significant breakthroughs in the short term, hovering between 25,500 and 26,500 points.
Industry News
Anta Sports (02020.HK) recently announced that for the first quarter of 2026, the retail sales value of Anta brand products recorded a positive growth in the high single digits compared to the same period in 2025. For the first quarter of 2026, the retail sales value of FILA brand products grew by 10-20% at the lower end compared to the same period in 2025. For the same period, all other brand products achieved a positive growth rate of 40-45% in retail sales value compared to the same period in 2025. Management stated that the first quarter was partially positively driven by the Spring Festival holiday effect. Given the ongoing uncertainty in industry trends, the company maintained its previous full-year guidance for retail sales growth, which projects low single-digit, mid-single-digit, and over 20% annual growth for the Anta, FILA, and other brands, respectively. Market analysts noted that Anta’s overall retail sales in the first quarter showed signs of recovery, supported by factors such as the staggered timing of the Spring Festival and warmer-than-usual temperatures. The Anta main brand demonstrated steady growth, continuing to optimize store networks. The company plans to add approximately 200 to 500 new stores during the year, including about 100 streamlined flagship stores, to enhance operational quality in franchised channels. FILA brand sales exceeded expectations, with discount rates remaining stable overall, and inventory-to-sales ratios falling below five months. The company has displayed operational resilience, positioning it to gain additional market share during the industry recovery cycle. Anta’s multi-brand globalization strategy has gained market recognition, and coupled with its earnings recovery, its valuation is expected to improve.
(The author is a licensed individual with the Securities and Futures Commission, and neither the author nor related parties hold any shares mentioned above.)
