"Daily Summary" Hang Seng Index rises 323 points, technology and financial stocks perform well, Tencent leads the gains.
Hong Kong stocks rose today, with the Hang Seng Index up 323 points or 1.9%. Technology and financial stocks performed strongly, led by Tencent. Jack Ma expressed optimism about Alibaba, and technology stocks such as Tencent, JD-SWR, Cloud Music, and Kuaishou-WR also saw gains. Meanwhile, banking and insurance stocks in the financial sector also rose. Other industries such as automotive and catering also saw increases in stock prices. Overall, the performance of Hong Kong stocks was good.
The US dollar index fell, and the onshore and offshore renminbi rose to a three-and-a-half-month high. Hong Kong stocks rose today. The Hang Seng Index opened high and the gains fluctuated, rising to 17,788 points, up 334 points, and closed at 17,778 points, up 323 points or 1.9%. The H-share index rose 128 points or 2.2%, closing at 6,103 points. The Hang Seng Tech Index rose 97 points or 2.5%, closing at 4,077 points. The total turnover of the market for the day was 106.365 billion yuan, with a net outflow of 2.76 billion yuan and 748 million yuan through the Shanghai and Shenzhen-Hong Kong Stock Connect. Jack Ma's office said it remains optimistic about Alibaba (09988.HK) and will continue to hold the stock for the long term. Alibaba rose 1.6% to HKD 74.45. Tencent (00700.HK) rose 3.6% to HKD 326.6. JD.com (09618.HK), NetEase (09999.HK), Kuaishou (01024.HK), and Bilibili (09626.HK) rose 2.1% to 3%, while Meituan (03690.HK), Xiaomi (01810.HK), and Baidu (09888.HK) rose 1% to 1.6%. In addition, Sensetime (00020.HK), Kingdee (00268.HK), Pactera (00354.HK), and JD Health (06618.HK) rose 4.7% to 5.4%, Meitu (01357.HK) rose 10.2%, and Netease Cloud Music (09899.HK) fell 13.1%. Chip equipment stock ASMPT (00522.HK) and chip stock SMIC (00981.HK) rose 3.3% and 3.7% respectively. The four major state-owned banks, ICBC (01398.HK), Bank of China (03988.HK), Agricultural Bank of China (01288.HK), and Bank of Communications (03968.HK), rose 1.8% to 2.1%, while China Merchants Bank (03968.HK) rose 2.9%. Insurance stocks China Ping An (02318.HK), China Life (02628.HK), and PICC (02601.HK) rose 2.2% to 2.7%. HSBC (00005.HK) rose 1.9% to HKD 60.2. Henderson (00011.HK) and HKEX (00388.HK) rose 1.8% and 2.4% respectively. AIA (01299.HK) rose 0.5%. In the automotive sector, Ideal (02015.HK) turned blue, with its stock price rising 2.4%. The CEO of NIO (09866.HK) stated that the cumulative sales in the first ten months increased by nearly 40% YoY, and the stock rose 2.6%. In addition, XPeng (09868.HK) rose 5.1%, BYD (01211.HK) rose 0.1% to HKD 244.4. Auto dealer Zhongsheng (00881.HK) rose 4.1%. In the catering sector, Haidilao (00520.HK), Yihai (01579.HK), Hai Di Lao (06862.HK), and Jiulian (09922.HK) rose 4.2% to 5.7%. Beer stock AB InBev Asia Pacific (01876.HK) and dairy stock Mengniu (02319.HK) rose more than 4%, while film stocks Alibaba Pictures (01060.HK) and Maoyan Entertainment (01896.HK) rose 3.8% and 4.3% respectively. Airline stock Air China (00753.HK) rose 3.7%. Pharmaceutical stock WuXi AppTec (02359.HK) turned blue, with its stock price rising 3.5%, while its subsidiary WuXi Biologics (02269.HK) rose 1.6%. Mainland China calls on financial institutions to support real estate companies in reasonable equity financing through the capital market. Real estate stocks Country Garden (01918.HK) and Hopson Development (01813.HK) rose 5.9% and 4.7% respectively, while Sunac China (01109.HK) and China Evergrande (03383.HK) rose 3.3% and 3.8%. Yuzhou Properties (03377.HK) reached an agreement with bondholders on the repayment plan, with its stock price rising 1.2%. Standard Chartered (02888.HK) and CITIC (00267.HK) rose 5.2% and 6.5% respectively, with Standard Chartered receiving an investment rating upgrade to "buy" from Goldman Sachs. (fc/w)