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<H Shrs>HSI Gains 22Pts at Open; KUAISHOU-W Leaps ~6%
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The US military action against Venezuela prompted international oil prices to initially fall before rising during Asian trading hours. Hong Kong bourse opened higher this morning, with the HSI opening 22 points higher, or 0.1%, at 26,361; the HSCEI down 2 points at 9,166; and the HSTECH up 18 points, or 0.3%, at 5,755. In the tech sector, KUAISHOU-W (01024.HK) opened 5.9% higher at HK$70.15, BABA-W (09988.HK) opened 1.4% higher at HK$151.1, and TENCENT (00700.HK) opened 0.2% higher at HK$624. BIDU-SW (09888.HK) opened 0.8% higher, while MEITUAN-W (03690.HK), NTES-S (09999.HK), and JD-SW (09618.HK) opened 0.3-0.4% lower. SUNNY OPTICAL (02382.HK) opened 0.7% lower, and INNOSCIENCE (02577.HK) opened 2% lower. SMIC (00981.HK) received an off-market increase in holdings from the China Integrated Circuit Industry Investment Fund (ICF), with ICF’s stake in SMIC nearly doubled to 9.25%. SMIC opened 0.9% higher. LENOVO GROUP (00992.HK) reportedly planned to launch an enterprise-level AI product in partnership with Nvidia (NVDA.US), and Lenovo opened 0.9% higher. Unitree Robotics stated that it is not involved in the green channel for its listing application and that its A-share listing process is progressing normally, but robotics concept stocks DOBOT (02432.HK) and UBTECH ROBOTICS (09880.HK) still opened 1.7% and 1.6% lower, respectively. Lei Jun indicated that XIAOMI-W (01810.HK) will pour at least RMB200 billion in R&D over the next five years, and its car delivery target for this year is 550,000 vehicles. Xiaomi opened 0.8% higher at HK$40.6. NIO-SW (09866.HK) Li Bin stated that the company's sales notched a record high last year. NIO opened 0.7% lower. Other auto stocks, including GEELY AUTO (00175.HK), LI AUTO-W (02015.HK), and XPENG-W (09868.HK), opened 1.2-1.5% lower, while BYD COMPANY (01211.HK) opened 0.5% lower. AAStocks Financial News |
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