"Hong Kong Stocks" The Hang Seng Index opened high at 218 points, technology stocks and automotive stocks performed well, WuXi XDC rose by 9%

AASTOCKS
2025.07.23 01:27

Sweden confirmed that the third round of China-U.S. trade talks will be held next week. U.S. President Trump also revealed that he may visit China soon to meet with Chinese President Xi Jinping to address the escalating trade and security tensions between the two countries. U.S. stocks rose on Tuesday (22nd), with the S&P 500 index up 4 points to 6,309 points, setting a new closing high, while the Dow Jones also closed up 179 points, but the Nasdaq fell at the close. Hong Kong stocks performed well this morning (23rd), with the Hang Seng Index opening up 218 points or 0.9%, at 25,348 points; the National Index opened up 80 points or 0.9%, at 9,156 points; and the Hang Seng TECH Index opened up 69 points or 1.2%, at 5,675 points.

In the tech sector, Alibaba (09988.HK) launched Qwen3-Coder as its most capable code model, opening up 0.8%.

Tencent (00700.HK) opened up 0.8%. Baidu (09888.HK) opened up 3.2%, making it the best-performing blue-chip stock. NetEase (09999.HK), Kuaishou (01024.HK), and Trip.com (09961.HK) each opened up between 1.2% and 2.3%.

The Zhengzhou Municipal Bureau of Market Supervision held administrative talks with Ele.me, Meituan (03690.HK), and JD.com (09618.HK), with Meituan and JD.com opening up 1.6% and 1.8%, respectively.

Reports indicate that BYD (01211.HK) has postponed mass production at its new factory in Hungary and reduced output, opening up 0.4%. Other automotive stocks saw Xiaomi (01810.HK) open up 0.7%. Nio (09866.HK) opened up nearly 9%, with the L90 set to launch dynamic test drive experiences at over 400 stores. XPeng (09868.HK) opened up 2.3%. Geely (00175.HK) opened up nearly 1%.

In the financial sector, HSBC (00005.HK) opened at HKD 100, up 0.3%. Hong Kong Exchanges and Clearing (00388.HK) opened up 0.8%. AIA (01299.HK) opened up 2.4%.

In individual stocks, WuXi XDC (02268.HK) is expected to see a net profit growth of over 50% year-on-year in the first half, with its stock price opening up 9.1%. The same group, WuXi AppTec (02359.HK) and WuXi Biologics (02269.HK), opened up 2.5% and 2.9%, respectively.

ASMPT (00522.HK) reported a net profit of HKD 215 million, down 31.8%, and declared an interim dividend of 26 cents, with its stock price opening up nearly 1%. Jianfa International (01908.HK) offered a discount of 8.9% on its rights issue, expected to raise over HKD 1 billion, with its stock price opening down 7.2%. As for WH Group (00288.HK), it opened down 1.2%, making it the worst-performing blue-chip stock.

Reports suggest that the mainland government has warned of potential closures of coal mines exceeding permitted production levels, with coal stocks Shenhua (01088.HK), Yanzhou Coal (01171.HK), and China Coal (01898.HK) each opening up between 1.1% and 4.9%

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