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<H Shrs>HSI Opens 231 Pts Higher as BABA-W/ POP MART Leap 4%
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Hong Kong stocks opened higher in the morning session. The HSI opened 231 points or 0.9% higher at 26,861. The HSCEI opened 87 points or 1% higher at 9,201. The HSTECH opened 55 points or 1% higher at 5,817. Market rumors suggest BABA-W (09988.HK) decided to support its chip subsidiary's separate listing, boosting its share price by 3.9% to $171.2. Enflame, one of the 'Four Dragons of Domestic GPU', had its STAR market IPO application accepted. Hong Kong-listed chip stocks SMIC (00981.HK) and HUA HONG SEMI (01347.HK) added 0.8% and 0.1%. For other techs, TENCENT (00700.HK) opened flat at $597.5, while MEITUAN-W (03690.HK) and NTES-S (09999.HK) inched up 0.3% and 0.8%. KUAISHOU-W (01024.HK) climbed 1.3%, while JD-SW (09618.HK) jumped up 2.6%. BIDU-SW (09888.HK) ebbed 0.8%. For financials, HSBC HOLDINGS (00005.HK) lifted 0.5% to $130.4, while HKEX (00388.HK) picked up 0.8%. AIA (01299.HK) hiked 0.1%. For other stocks, there are reports that POP MART (09992.HK) launched its Valentine's Day limited edition Twinkle Twinkle series products, with a premium of nearly 7x for hidden variants. Hence, POP MART leaped 4.3%. MICROPORT (00853.HK) swelled 6.3% as it forecasted to swing to a profit of at least US$20 million last year. AASTOCKS Financial News Website: www.aastocks.com |
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