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<H Shrs>HSI Starts 114Pts Lower; NIO-SW, XPENG-W Still Soft; CN Developers Weak
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Hong Kong stock market started lower this morning. The HSI opened 114 points lower, or 0.4%, at 25,980; the HSCEI opened 50 points lower, or 0.5%, at 9,132; and the HSTECH opened 28 points lower, or 0.5%, at 5,595. As JD INDUSTRIALS (07618.HK) is launching its IPO, JD-SW (09618.HK) opened 0.3% lower at HK$115.6. SUNNY OPTICAL (02382.HK) reportedly becomes the exclusive supplier of lenses and main camera telephoto modules for the Doubao mobile assistant engineering prototype. The stock opened flat at HK$67.65. The S&P indicated that MEITUAN-W (03690.HK) faces heightened risks to its EBITDA recovery. Meituan opened flat at HK$96.5. For other techs, BABA-W (09988.HK) opened 0.8% lower at HK$155.8. TENCENT (00700.HK) opened 0.2% lower at HK$616. XIAOMI-W (01810.HK) opened flat at HK$40.7. BIDU-SW (09888.HK) opened flat at HK$115.7. Chipmaker SMIC (00981.HK) opened 0.7% lower. In the auto sector, BYD COMPANY (01211.HK) opened flat at HK$100.1, while NIO-SW (09866.HK) and XPENG-W (09868.HK) opened 1.8% and 2.6% lower, respectively. R&F PROPERTIES (02777.HK) received approval from 77% of its creditors for its subsidiary's USD note restructuring, extending the final deadline. R&F opened 1.6% lower at HK$0.63. Among other Chinese property developers, CHINA OVERSEAS (00688.HK) and CHINA RES LAND (01109.HK) opened 0.3% and 1.5% lower, respectively. AAStocks Financial News |
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