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<H Shrs>HSI Opens 27 Pts Lower; TRIP.COM-S Slips 15%; Logistics Stocks Thrive
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US bank stocks were soft, and the DJIA lost 42 points, or less than 0.1%, overnight (13th). Hong Kong bourse started lower this morning, with the HSI down 27 points, or 0.1%, at 26,972; the HSCEI down 10 points, or 0.1%, at 9,305; and the HSTECH down 32 points, or 0.5%, at 5,875. Alibaba's Qianwen platform will purportedly launch an "AI life assistant" that allows users to order takeout and find restaurants with a single sentence. BABA-W (09988.HK) opened 0.1% lower, while MEITUAN-W (03690.HK) opened 0.5% higher. TRIP.COM-S (09961.HK) is under investigation by the State Administration for Market Regulation for suspected monopolistic practices; its ADR plunged 17% overnight and its H-shares opened 15% lower at HK$484.2 this morning. TRIP.COM-S’ peer, TONGCHENGTRAVEL (00780.HK), opened 2.8% lower. BIDU-SW (09888.HK) is reportedly contemplating an upgrade of its Hong Kong listing to a primary listing, and its shares opened 0.9% higher at HK$146.4. LENS (06613.HK) reportedly delivered humanoid robots in bulk to several leading robotics clients, and its shares opened 0.5% higher. A symposium was held in mainland China for new energy vehicle companies, with a resolute resistance against disorderly “price wars”. BYD COMPANY (01211.HK) opened 0.4% higher at HK$98. XIAOMI-W (01810.HK) opened flat at HK$37.78. XPENG-W (09868.HK) opened 2.1% lower. J&T EXPRESS-W (01519.HK) and SF HOLDING (06936.HK) forged a strategic cross-shareholding agreement involving HK$8.3 billion. J&T Express and SF Express opened 3.5% and 2.7% higher respectively, while their peers JD LOGISTICS (02618.HK) and ZTO EXPRESS-W (02057.HK) opened 0.5% and 1.9% higher. AAStocks Financial News |
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