"Hong Kong Stock Market" Hang Seng Index opens high by 88 points, WUXI BIO down 13%.
Hong Kong stocks opened higher today, with the Hang Seng Index up 88 points. WuXi Biologics fell 13%. US stocks rose, with Federal Reserve Chairman Powell making cautious remarks on interest rate policy. In the technology sector, Tencent, Alibaba, and other stocks opened higher, while Netease, Kuaishou, and others opened lower. In the automotive sector, Ideal and Xiaopeng saw an increase in deliveries, and BYD's sales of new energy vehicles also increased. Among property stocks, Kowloon Development performed the best. Gold prices reached a new high, and gold mining stock Zijin Mining rose. Financial stocks such as Hong Kong Exchanges and Clearing and HSBC rose, while AIA Group fell. Real estate stocks such as Longfor and Evergrande declined.
Federal Reserve Chairman Powell's cautious remarks on interest rate policies did not hinder the rise of US stocks. The Dow Jones Industrial Average closed up 294 points on Friday (1st). Hong Kong stocks followed the positive trend of overseas markets today (4th), with the Hang Seng Index opening up 88 points or 0.5% at 16,919 points; the H-share index opening up 43 points or 0.7% at 5,804 points; and the Hang Seng Tech Index opening up 11 points or 0.3% at 3,842 points. In the technology sector, Tencent (00700.HK) opened up 1.3%. Alibaba (09988.HK) opened up 0.7%. It is reported that there have been major changes in the management of Meituan (03690.HK), with adjustments to several core business leaders. The stock price opened up 0.9%. Bilibili (09626.HK) opened up 2.7%. Xiaomi (01810.HK) opened up 1.6%. JD.com (09618.HK) and Baidu (09888.HK) opened up 0.9% and 0.3% respectively. NetEase (09999.HK) opened down 2.6%. Kuaishou (01024.HK) opened down 0.4%. Ideal (02015.HK), a car stock, opened down 2.3%. Xiaopeng (09868.HK) delivered over 20,000 vehicles in November, a growth of 245%, and the stock price opened down 0.9%. BYD (01211.HK) reported a 31% year-on-year increase in sales of new energy vehicles in November to over 300,000 vehicles, and the stock price opened up 1.5%. Geely (00175.HK) opened flat, with total sales of 200,000 vehicles in November, a 38% year-on-year increase. It is reported that several mainland commercial banks have not yet received relevant documents for the white list, and Longfor Properties (00960.HK) opened down 1.6%. Evergrande (03333.HK) held a liquidation hearing today, and overseas creditors made a final effort to avoid liquidation; the company also clarified that the report claiming it has never made a profit has no factual basis, and the stock price opened down 4.2%. Local property stock Wharf Real Estate Investment (01997.HK) opened up 4%, performing as the best blue-chip stock. Cheung Kong (01113.HK) and Sun Hung Kai Properties (00016.HK) also opened up more than 2%. In heavyweight financial stocks, HSBC (00005.HK) opened up 2.2%. Hong Kong Exchanges and Clearing (00388.HK) opened up 1.4%. AIA (01299.HK) opened down 3.4%. With expectations of a rate cut by the Federal Reserve next year, the price of gold reached a new high, and gold mining stock Zijin (02899.HK) opened up 3.5%. WuXi Biologics (02269.HK) held a conference today to announce the latest business news, and the stock price opened down 12.8%, performing as the worst blue-chip stock. (jl/w)