Kuaishou (01024.HK) shares fell more than 10%. The company said an expected disposal by Tencent Holdings (00700.HK) is not expected to have any material adverse impact on the group's operations.

Southbound Stock Connect flows net bought 497 mln yuan today. Via Hong Kong Stock Connect (Shanghai), Tencent was net bought HKD 983 mln and SMIC HKD 901 mln; Kingboard Laminates was the largest net sell at HKD 966 mln. Via Hong Kong Stock Connect (Shenzhen), Tencent and Meituan‑W were net bought HKD 1.341 bln and HKD 1.241 bln respectively; SMIC was the top net sell at HKD 1.979 bln.

The State Administration for Market Regulation (SAMR) will launch 2026 spot checks of fair competition reviews, requiring local authorities to review comprehensively and apply strict standards. SAMR said it will conduct special inspections in priority sectors and use spot checks, interviews and public reporting to enforce binding oversight. It will continue to refine rules and institutional support and is advancing amendments to the PRC Price Law to tighten identification of unfair low‑price dumping, broaden price‑enforcement tools and strengthen legal liabilities to curb unrestricted price cutting and price wars.