Hong Kong tech stocks finally rebound: JD.com rose as much as 5%, while MEITUAN-W, TENCENT, and Alibaba are all up!
Three major positive news, Hang Seng TECH Index rose by 2%! MEITUAN-W rose nearly 5%, TENCENT rose 3%, Alibaba rose 2%, KUAISHOU-W and BIDU-SW rose 2%, CLOUD MUSIC rose 1%, BILIBILI-W fell more than 1%.
As we enter the first day of June, is there a dawn for Hong Kong stocks?
On Thursday, June 1st, the Hang Seng Index opened low and rose high, with an increase of nearly 1% in early trading; the Hang Seng Technology Index rose by 2% at one point, and is now up by about 1%.
Looking at the market, internet-related stocks led the way with a big rise, followed closely by healthcare, raw materials, and non-essential consumer goods.
Hong Kong-listed Chinese concept stocks generally rose, with JD.com leading the way with a rise of 5% at one point, Meituan rising nearly 5%, Tencent rising 3%, Alibaba rising 2% at one point, Kuaishou and Baidu rising 2%, NetEase rising 1%, and Bilibili falling more than 1%.
The new energy vehicle sector saw mixed gains and losses, with LEAPMOTOR rising nearly 2%, NIO, Xiaopeng Motors, and Ideal Motors all rising by less than 1% initially, and now all falling together; BYD fell by less than 1%, and Great Wall Motors fell nearly 3%.
In the mining sector, China Gold International rose by more than 3%, ZHAOJIN MINING and Zijin Mining rose by more than 2%, Shandong Gold and Ganfeng Lithium rose by more than 1%.
The healthcare sector had the highest increase, with Juzi Biology rising by 7%, Ping An Good Doctor, WuXi Biologics, and CARDIOFLOW-B rising by more than 4%, and Kanglong Chemicals rising by more than 3%.
The consumer sector is also on the rise, with Dongfang Zhenxuan rising by 8%, WEIMOB INC and MINISO rising by more than 4%, POP MART rising by more than 3%, and Naixue's Tea rising by more than 2%.
Hong Kong stocks have rebounded slightly, mainly due to several news items:
According to the CCTV News client, the highly anticipated Sino-US audit cooperation has progressed smoothly;
China's Caixin Manufacturing PMI for May was 50.9, exceeding expectations and the previous value of 49.5;
The US House of Representatives passed the debt ceiling bill with a vote of 314 in favor and 117 against, and the bill will be submitted to the Senate for review.